ASCOT MINING PLC - Update on Proposed Move to AIM

Ascot Mining plc                                
                          ("Ascot" or the "Company")                           

                        Update on Proposed Move to AIM                         

Ascot is pleased to announce that a revised 43-101 Resource statement is in the process of being completed by the Competent Person.

The Company expects to receive the final NI 43-101 report in the near future. Once approved, the report will be incorporated into an AIM Admission document and this will allow the commencement of the regulatory application to AIM.

The Directors of the Issuer accept responsibility for this announcement.

--ENDS--                                    

Enquiries:

Damien Daly:
Ascot Mining Plc
[phone]
[e-mail]

Heena Karani:
Rivington Street Corporate Finance
[phone]
[e-mail]

Michael Kinirons:
Bishopsgate Communications
[phone]
[e-mail]