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Ascot Mining Plc - Gold Sale - Share Placings



Ascot Mining Plc - Gold Sale - Share Placings London: 26 February 2010: Ascot Mining Plc ("Ascot" or the "Company") (PLUS Markets: ASMP, Xetra(R): AM3.DE), announces that it has sold an additional 713 Troy ounces of Gold through its forward sale programme for cash proceeds of US$645,040.

The previously announced sale programme is in response to the interest being shown by active purchasers and reflects confidence in Ascot Mining and the future price of gold.

Combined with equity placings Ascot's gold sale programme provides the Company with a cost effective and competitive mix of financing options. Additionally, the Board has determined it to be in the best interest of the Company and its shareholders to remove accumulated financial obligations from its books.

With immediate effect, the Company announces the issuance of 398,839 shares for consideration of US$235,287.

Included is the payment for services of 18,568 shares to a Director, Dr Michael Green at US$0.65 per share, which brings his holding in the Company to 137,032 (0.37%). In compliance with Rule 55, following this announcement there are 36,421,542 shares (nominal amount £364,215) in issue with the aggregate Directors' interests totalling 11,991,724 shares (32.92%). LINK TO PRELIMINARY RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2009: http://www.plusmarketsgroup.com/PLUS_news_story.shtml?NewsID=1729901&ISIN=GB00B2QH7M99/GBX/PLUS-exn The Directors of Ascot Mining Plc accept responsibility for the content of this announcement.
Enquiries: Ascot Mining Plc: +44 (0) 207 377 2850 Damien Daly: + 44 (0) 7880 55 46 47 Website: www.ascotmining.com
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