Ascendant Resources Inc. (TSX:ASND) (OTCQX:ASDRF) (FRA:2D9) ("Ascendant" or the "Company”) today issues a correction to the drilling results reported within the January 18, 2018 press release, with the updated information presented below in Table 1.

An incorrect calculation resulted in errors to the original significant assays reported; the correct table is presented below. The aggregate net-change shows many of the original results understated and only a few individual reductions in width. Where grades have decreased, widths have increased.  Management apologizes for the error but remains encouraged by the positive results and the potential the results represent.

 Table 1: Corrected Significant Assays

Drill Hole Category DDH No. From (m) To (m) Length (m) True / Apparent Length (m)* Ag (g/t) Pb (%) Zn (%) ZnEq (%)** Area  
Step out 10909 56.0 58.2 2.2 1.9 59.0 5.0 7.5 12.5 Deep East  
and 63.7 65.7 2.0 1.7 29.0 2.3 2.6 4.9  
and 71.9 75.7 3.7 3.7 121.9 15.0 19.3 33.7  
including 71.9 73.5 1.5 1.5 84.0 11.6 12.1 23.0  
including 73.5 74.4 0.9 0.9 143.0 17.3 22.9 39.5  
including 74.4 75.7 1.3 1.3 152.0 17.4 25.4 42.2  
and 186.7 188.3 1.6 1.5 26.0 1.8 5.6 7.5  
and 192.0 193.5 1.5 1.3 8.0 0.3 4.6 4.9  
Step out 10912 19.5 20.7 1.2 0.9 46.0 4.6 0.5 5.1 Deep East  
and 70.7 72.4 1.7 1.5 96.0 3.3 12.6 16.9  
and 75.6 76.7 1.1 0.9 137.0 4.8 3.7 9.9  
and 199.6 201.8 2.1 2.0 26.0 3.0 4.1 7.0  
and 209.9 212.1 2.3 2.1 10.0 0.8 3.6 4.4  
Step out 10941 377.6 395.5 18.0 15.2 60.9 1.4 5.8 7.9 Esperanza  
including 377.6 382.5 4.9 4.2 23.1 1.0 5.9 10.7  
including 382.5 384.0 1.5 1.3 14.0 0.0 2.7 2.9  
including 384.0 388.3 4.3 3.6 50.7 2.2 8.5 11.1  
including 388.3 395.5 7.2 6.1 96.5 1.3 2.6 5.2  
and 399.1 419.1 20.0 16.8 38.4 0.8 5.5 6.9  
including 399.1 402.6 3.5 2.9 51.4 3.6 7.2 11.1  
including 402.6 419.1 16.5 13.8 35.6 0.2 5.2 6.0  
Step out 10919 292.3 293.8 1.5 1.4 37.0 2.6 2.3 5.1 Santa Elena  
and 499.3 500.2 0.9 0.8 10.0 0.1 4.3 4.6  
and 505.7 509.2 3.5 3.3 24.6 1.9 5.0 7.0  
Step out 10945 477.9 492.7 14.8 13.4 51.3 3.2 3.9 7.4 Santa Elena  
including 477.9 483.1 5.2 4.7 17.5 1.7 1.9 3.6  
including 483.1 484.9 1.8 1.7 43.0 6.8 5.4 11.7  
including 484.9 489.8 4.9 4.4 43.5 3.4 5.0 8.5  
including 489.8 491.5 1.7 1.5 224.8 5.1 8.3 16.1  
including 491.5 492.7 1.2 1.1 19.0 0.2 3.2 3.6  
Step out 10892 118.2 125.0 6.8 6.4 16.0 1.0 6.4 7.5 Victoria  
including 118.2 123.4 5.2 5.0 15.8 1.1 4.7 5.9  
including 123.4 125.0 1.5 1.4 17.0 0.6 12.4 13.2  
and 155.4 157.0 1.5 1.5 20.0 0.6 5.6 6.4  
Step out 10900 84.4 84.9 0.5 0.5 57.0 5.0 8.1 13.2 Victoria  
Infill 10916 24.4 26.2 1.8 1.8 50.0 1.6 1.9 4.0 Esperanza  
Infill 10918 6.7 8.2 1.5 1.5 125.0 5.8 7.1 13.9 Port Royal  
and 9.0 13.1 4.1 4.1 843.2 20.6 17.7 48.6  
including 9.0 11.0 2.0 2.0 850.0 16.8 30.5 58.4  
including 11.0 12.2 1.2 1.2 350.0 6.4 8.0 19.1  
including 12.2 13.1 0.9 0.9 1486.0 47.7 3.0 66.8  
Infill 10920 5.5 6.8 1.3 1.3 181.0 3.7 4.0 10.0 Port Royal  
Infill 10921 5.3 6.1 0.8 0.8 713.0 26.1 20.9 54.2 Port Royal  
Infill 10923 No Significant Intercepts Port Royal  
Infill 10924 4.6 6.6 2.0 1.4 243.0 9.5 9.3 21.2 Port Royal  
and 11.3 12.6 1.4 1.1 1006.0 25.0 14.5 51.7  
Infill 10925 5.0 7.5 2.4 2.4 98.9 1.3 1.6 4.3 Port Royal  
Infill 10926 No Significant Intercepts Port Royal  
Infill 10927 5.2 6.4 1.2 1.1 219.0 1.8 1.4 6.5 Port Royal  
Infill 10928 4.4 9.1 4.7 4.4 483.3 14.1 15.2 34.8 Port Royal  
including 4.4 6.1 1.7 1.6 181.0 7.0 5.6 14.4  
including 6.1 7.6 1.5 1.4 707.0 19.6 23.4 51.2  
including 7.6 9.1 1.5 1.4 592.0 16.5 17.5 40.8  
Infill 10929 No Significant Intercepts Port Royal  
Infill 10930 4.7 7.6 2.9 2.9 794.1 20.1 28.5 58.2 Port Royal  
and 16.8 18.3 1.5 1.5 442.0 12.7 5.6 23.3  
Infill 10931 7.1 8.1 1.0 0.9 355.0 19.7 17.1 39.2 Port Royal  
and 14.3 17.1 2.7 2.7 221.1 6.3 5.5 14.3  
including 14.3 15.5 1.2 1.2 345.0 9.5 11.7 25.2  
including 15.5 17.1 1.5 1.5 122.0 3.7 0.6 5.7  
Infill 10932 10.2 21.3 11.1 10.2 228.6 7.5 9.3 19.2 Port Royal  
including 10.2 13.4 3.2 2.9 178.1 6.2 7.7 15.7  
including 13.4 15.2 1.8 1.7 137.0 3.7 3.5 8.9  
including 15.2 20.4 5.2 4.7 312.9 10.2 13.7 27.3  
including 20.4 21.3 0.9 0.8 111.0 4.0 1.1 6.2  
and 32.9 36.0 3.0 3.1 87.0 0.8 1.9 4.1  
Infill 10933 7.3 11.3 4.0 3.4 84.8 3.1 3.9 7.9 Port Royal  
including 7.3 8.5 1.2 1.0 29.0 0.8 1.2 2.3  
including 8.5 9.6 1.1 0.9 230.0 9.2 11.5 22.8  
including 9.6 11.3 1.7 1.4 33.0 1.0 1.1 2.5  
Infill 10934 7.0 8.2 1.2 1.2 45.0 3.3 2.4 5.8 Port Royal  
Infill 10935 No Significant Intercepts Port Royal  
Infill 10937 10.7 12.2 1.5 1.4 96.0 4.0 1.2 6.0 Port Royal  
Infill 10938 13.7 18.3 4.6 4.6 169.7 7.8 2.8 12.0 Port Royal  
including 13.7 15.2 1.5 1.5 268.0 9.1 6.6 18.6  
including 15.2 16.8 1.5 1.5 77.0 2.2 0.4 3.5  
including 16.8 18.3 1.5 1.5 164.0 12.0 1.4 14.0  
Infill 10939 16.2 18.9 2.7 2.1 238.1 7.8 5.7 16.0 Port Royal  
Infill 10940 19.7 21.6 2.0 1.6 68.0 2.9 1.7 5.2 Port Royal  
and 26.2 27.3 1.1 1.1 138.0 4.5 1.9 7.8  
Infill 10885 360.6 361.8 1.2 0.9 8.0 0.1 6.7 6.9 Santa Elena  
and 387.1 390.1 3.0 1.5 8.0 0.2 9.7 10.0  
Infill 10902 296.1 297.6 1.5 1.2 55.0 2.6 4.0 7.0 Santa Elena  
and 301.2 308.5 7.2 7.2 90.7 5.0 7.7 13.3  
including 301.2 303.9 2.7 2.6 220.9 13.5 14.7 29.5  
including 303.9 308.5 4.6 4.5 15.1 0.1 3.6 3.9  
and 310.3 326.7 16.5 16.2 4.3 0.0 8.4 8.5  
including 310.3 312.1 1.8 1.8 5.0 0.0 19.3 19.3  
including 312.1 324.3 12.2 12.0 5.0 0.0 8.5 6.0  
including 324.3 325.5 1.2 1.2 3.0 0.0 18.3 18.3  
including 325.5 326.7 1.2 1.2 4.0 0.0 8.0 8.0  
Infill 10908 321.3 323.1 1.8 1.8 11.0 0.1 6.6 6.9 Santa Elena  
and 327.7 329.4 1.7 1.5 23.0 0.9 3.5 4.6  
and 392.4 393.8 1.4 1.2 21.0 1.4 2.5 4.0  
Infill 10915 274.3 275.8 1.5 1.4 30.0 2.6 4.3 6.9 Santa Elena  
and 308.9 310.3 1.4 1.3 28.0 1.4 2.4 4.0  
and 378.0 396.8 18.9 17.8 23.1 1.6 7.8 9.5  
including 378.0 380.4 2.4 2.3 54.0 5.2 7.1 12.3  
including 380.4 381.4 1.0 0.9 4.0 0.4 0.3 0.7  
including 381.4 384.0 2.7 2.5 48.2 4.1 8.6 12.8  
including 384.0 390.1 6.1 5.8 10.0 0.3 3.5 3.9  
including 390.1 393.8 3.7 3.5 13.8 0.4 19.7 20.3  
including 393.8 396.8 3.0 2.9 20.0 1.1 4.6 5.8  
and 398.4 399.6 1.2 1.1 42.0 5.6 5.1 10.4  
and 400.8 402.9 2.1 2.1 28.0 0.5 4.7 5.5  
and 411.5 415.1 3.7 3.5 19.8 0.0 14.0 14.4  
Infill 10936 301.4 302.4 0.9 0.9 128.0 8.7 9.7 18.9 Santa Elena  
and 371.2 373.2 2.0 2.0 27.0 4.8 1.2 5.6  
and 406.1 407.4 1.2 1.2 30.0 2.8 2.8 5.6  
and 409.1 436.8 27.8 25.6 27.5 2.5 7.4 9.9  
including 409.1 413.9 4.8 4.5 30.6 3.2 5.6 8.7  
including 413.9 415.7 1.8 1.7 59.0 7.4 8.6 15.6  
including 415.7 418.2 2.4 2.2 13.0 1.4 2.6 4.0  
including 418.2 424.0 5.8 5.3 62.8 5.8 12.3 18.1  
including 424.0 426.7 2.7 2.5 3.9 0.1 4.9 5.1  
including 426.7 429.8 3.0 2.8 23.5 1.0 12.6 13.8  
including 429.8 436.8 7.1 6.5 4.0 0.1 4.8 4.9  
and 449.6 451.2 1.6 1.5 1.0 0.0 4.9 4.9  
Infill 10942 300.8 302.6 1.8 1.6 32.0 0.1 3.9 4.5 Santa Elena  
and 374.2 375.2 1.0 1.0 29.0 3.2 3.2 6.3  
and 380.4 391.7 11.3 11.0 17.1 0.8 5.0 5.9  
including 380.4 382.2 1.8 1.8 52.0 4.1 6.7 10.9  
including 382.2 391.7 9.4 9.2 10.4 0.1 4.7 5.0  
Infill 10943 307.3 308.8 1.4 1.4 17.0 2.4 3.9 6.2 Santa Elena  
and 401.4 402.4 1.1 1.1 7.0 0.2 8.0 8.2  
and 408.4 417.6 9.1 8.2 21.4 1.0 7.0 8.2  
including 408.4 410.0 1.5 1.4 56.0 2.8 5.1 8.3  
including 410.0 411.3 1.3 1.2 37.0 0.9 0.9 2.2  
including 411.3 416.1 4.8 4.3 11.3 0.7 7.3 8.0  
including 416.1 417.6 1.5 1.4 5.0 0.1 13.5 13.6  
and 433.4 434.7 1.3 1.2 13.0 1.5 2.7 4.1  
and 438.3 438.8 0.5 0.4 13.0 0.6 3.7 4.4  
* True Thickness and apparent widths are estimates. 
** ZnEq. Represents zinc grade together with the lead and silver grades (zinc equivalent) in terms of zinc using certain metal price, payable metal, and processing recoveries assumptions.
** ZnEq. Assumptions:  Prices - Zn$1.13/lb, Pb$1.00/lb, Ag$18.00/oz; Payable metal - Zn 85%, Pb 95%, Ag 69%, Processing recoveries - Zn 89%, Pb 74%, Ag 79%.

Table 2: Drill Hole Information (for reference)

        UTM Coordinates      
Area Drill Hole Category Mine Level (ft) DDH No. Easting (m) Northing (m) Elev. (m) Azi. Incl. Length (m)
Santa Elena Definition 2680 10885 383,373.1 1,642,807.8 123.0 19 -59 438.9
Victoria Exploration 2790 10892 384,284.3 1,642,147.7 108.4 149 -55 179.8
Victoria Exploration 2790 10900 384,285.4 1,642,148.3 108.4 96 -59 179.8
Santa Elena Definition 2680 10902 383,372.0 1,642,807.5 123.0 359 -78 346.3
Santa Elena Definition 2680 10908 383,373.2 1,642,807.6 123.2 5 -58 417.3
Deep East Exploration 2790 10909 384,284.0 1,642,149.0 108.4 6 -53 220.4
Deep East Exploration 2790 10912 384,283.5 1,642,151.0 108.4 350 -39 270.4
Santa Elena Definition 2680 10915 383,373.5 1,642,807.5 123.0 28 -59 442.0
Esperanza Definition 2550 10916 381,747.0 1,642,923.6 175.1 344 -60 30.5
Port Royal Definition 1195 10918 382,370.5 1,642,401.3 569.8 352 -44 27.4
Santa Elena Exploration 2680 10919 383,373.2 1,642,807.6 123.2 49 -54 530.4
Port Royal Definition 1195 10920 382,370.7 1,642,400.9 569.8 351 -80 24.4
Port Royal Definition 1195 10921 382,371.3 1,642,400.7 569.8 18 -50 30.5
Port Royal Definition 1195 10923 382,371.4 1,642,399.9 569.8 42 -64 25.3
Port Royal Definition 1195 10924 382,369.7 1,642,401.0 569.8 327 -39 25.9
Port Royal Definition 1195 10925 382,367.4 1,642,400.8 569.9 292 -34 18.3
Port Royal Definition 1195 10926 382,366.4 1,642,398.9 569.9 263 -33 33.5
Port Royal Definition 1195 10927 382,368.0 1,642,400.6 569.9 290 -59 18.0
Port Royal Definition 1195 10928 382,370.2 1,642,400.4 569.8 323 -71 18.9
Port Royal Definition 1195 10929 382,371.1 1,642,399.3 569.8 150 -79 18.3
Port Royal Definition 1195 10930 382,370.4 1,642,402.1 571.3 356 3 33.5
Port Royal Definition 1195 10931 382,370.4 1,642,402.1 572.3 356 19 35.1
Port Royal Definition 1195 10932 382,371.5 1,642,401.6 571.3 19 4 42.7
Port Royal Definition 1195 10933 382,371.5 1,642,401.6 572.6 19 54 48.8
Port Royal Definition 1195 10934 382,372.3 1,642,400.6 571.8 47 10 24.4
Port Royal Definition 1195 10935 382,372.3 1,642,400.6 572.4 44 39 30.5
Santa Elena Definition 2680 10936 383,373.9 1,642,807.3 123.0 40 -62 469.4
Port Royal Definition 1195 10937 382,371.4 1,642,400.1 574.1 35 71 22.9
Port Royal Definition 1195 10938 382,369.3 1,642,401.7 571.7 327 10 36.6
Port Royal Definition 1195 10939 382,369.3 1,642,401.7 572.6 331 30 57.9
Port Royal Definition 1195 10940 382,366.9 1,642,401.0 572.9 295 44 62.5
Esperanza Exploration 1814 10941 381,746.2 1,642,900.3 407.1 10 -45 435.9
Santa Elena Definition 2680 10942 383,373.2 1,642,807.6 123.2 50 -66 405.4
Santa Elena Definition 2680 10943 383,373.2 1,642,807.6 123.2 360 -59 442.0
Santa Elena Exploration 2680 10945 383,373.2 1,642,807.6 123.2 41 -56 501.4

Quality Assurance and Quality Control

Analytical work was carried out by Bureau Veritas Commodities Canada Ltd. (ACME), Vancouver, Canada.  Drill core samples were prepared in Bureau Veritas’s laboratory in Guatemala City, Guatemala. Pulp samples were then sent to their analytical Laboratory in Vancouver, Canada. All samples were analyzed for zinc, Lead, copper, iron and silver values determined by method code AR402 atomic absorption spectrometry, and any over limit values were determined using method code FA410. Bureau Veritas has routine quality control procedures which ensure that every batch of 30 prepared samples includes three sample repeats, two commercial standards and blanks. Bureau Veritas is independent from Ascendant. Ascendant used standard QA/QC procedures, when inserting blanks, for the drilling program. The scientific and technical information in this press release has been reviewed and approved by Patrick E. Toth, P.Geo., Director of Exploration and a Qualified Person as defined by National Instrument 43-101.

About Ascendant Resources Inc.

Ascendant is a Toronto-based mining company focused on its 100%-owned producing El Mochito zinc, silver and lead mine in west-central Honduras, which has been in production since 1948. After acquiring the mine in December 2016, Ascendant implemented a rigorous optimization program aimed at restoring the historic potential of the El Mochito mine. In 2017, the Company successfully completed the operational turnaround it set out to achieve with sustained production at record levels and profitability restored. The Company now remains focused on cost reduction and further operational improvements to drive robust free cash flow in 2018 and beyond. Ascendant is also focused on expanding and upgrading known resources through extensive exploration work for near-term growth. With a significant land package of 11,000 hectares and an abundance of historical data there are several regional targets providing longer term exploration upside which could lead to further resource growth. The Company is also engaged in the evaluation of producing and development stage mineral resource opportunities, on an ongoing basis. The Company's common shares are principally listed on the Toronto Stock Exchange under the symbol "ASND". For more information on Ascendant Resources, please visit our website at www.ascendantresources.com.

Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release. For further information please contact:

Katherine PrydeDirector, Communications & Investor RelationsTel: 888-723-7413info@ascendantresources.com

Forward Looking Information

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. All information contained in this news release, other than statements of current and historical fact, is forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "budget", "guidance", "scheduled", "estimates", "forecasts", "strategy", "target", "intends", "objective", "goal", "understands", "anticipates" and "believes" (and variations of these or similar words) and statements that certain actions, events or results "may", "could", "would", "should", "might" "occur" or "be achieved" or "will be taken" (and variations of these or similar expressions). Forward-looking information is also identifiable in statements of currently occurring matters which may continue in the future, such as "providing the Company with", "is currently", "allows/allowing for", "will advance" or "continues to" or other statements that may be stated in the present tense with future implications. All of the forward-looking information in this news release is qualified by this cautionary note.

Forward-looking information in this news release includes, but is not limited to, statements regarding the potential for the resource to expand significantly and improve grade at the mine. Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by Ascendant at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The material factors or assumptions that Ascendant identified and were applied by Ascendant in drawing conclusions or making forecasts or projections set out in the forward-looking information include, but are not limited to, the potential for the resource to expand significantly and improve grade at the mine.

The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the mining industry, such as economic factors (including future commodity prices, currency fluctuations, energy prices and general cost escalation), uncertainties related to the development and operation of Ascendant's projects, dependence on key personnel and employee and union relations, risks related to political or social unrest or change, rights and title claims, operational risks and hazards, including unanticipated environmental, industrial and geological events and developments and the inability to insure against all risks, failure of plant, equipment, processes, transportation and other infrastructure to operate as anticipated, compliance with government and environmental regulations, including permitting requirements and anti-bribery legislation, volatile financial markets that may affect Ascendant's ability to obtain additional financing on acceptable terms, the failure to obtain required approvals or clearances from government authorities on a timely basis, uncertainties related to the geology, continuity, grade and estimates of mineral reserves and resources, and the potential for variations in grade and recovery rates, uncertain costs of reclamation activities, tax refunds, hedging transactions, as well as the risks discussed in Ascendant's most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities and available at www.sedar.com.

Should one or more risk, uncertainty, contingency, or other factor materialize, or should any factor or assumption prove incorrect, actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, the reader should not place undue reliance on forward-looking information. Ascendant does not assume any obligation to update or revise any forward-looking information after the date of this news release or to explain any material difference between subsequent actual events and any forward-looking information, except as required by applicable law.

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