Steve Laciak Announces Acquisition of Additional Shares of Ascendant Resources Inc.

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Toronto, Ontario–(Newsfile Corp. – May 24, 2022) – Mr. Steve Laciak announces that on May 20, 2022 he acquired ownership of or control over an additional aggregate of 2,250,000 common shares (the “Common Shares“) in the capital of Ascendant Resources Inc. (TSX: ASND) (the “Issuer“) at a price of $0.20 per Common Share for aggregate consideration of $450,000 through a private placement offered by the Issuer. Since the last early warning report filed by Mr. Laciak on February 16, 2018, the Issuer issued additional Common Shares which resulted in the change of the percentage holding of Mr. Laciak from 16.52% to 10.64% prior to the acquisition of shares in the Private Placement which has resulting in an increase of his holdings to 11.21%.

Prior to acquiring such Common Shares, Mr. Laciak owned or controlled 11,875,449 Common Shares representing approximately 10.64% of the issued and outstanding Common Shares.

As a result of the above-noted acquisition, Mr. Laciak now owns or controls 14,125,449 Common Shares representing approximately 11.21% of the issued and outstanding Common Shares.

Mr. Laciak acquired the Common Shares for investment purposes. Mr. Laciak may in the future take such actions in respect of his holdings as he may deem appropriate in light of the circumstances then existing, including acquiring ownership or control over additional Common Shares of the Issuer or the disposition of all or a portion of his holdings in open market or in privately negotiated transactions.

An early warning report with additional information will be filed on and available under the Issuer’s profile on SEDAR at www.sedar.com. To obtain a copy of the early warning report please contact Steve Laciak at (416) 350-3048 or 181 Bay Street, Suite 2500, Toronto, ON M5J 2T3.

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

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