Ascot Transaction

Special Shareholder Meeting:

We are pleased to announce that the Special Meeting of IDM Mining Ltd. Shareholders will take place on March 20, 2019, at 10:00 (Vancouver Time) at the offices of DuMoulin Black LLP 10th Floor, 595 Howe Street, Vancouver, BC, V6C 2T5. The purpose of this special meeting will be to consider and vote upon a proposed arrangement (the "Arrangement") between IDM and Ascot Resources Ltd. ("Ascot") pursuant to which Ascot will acquire all of the issued and outstanding common shares of IDM (the "Transaction").  Each IDM shareholder will be entitled to receive 0.0675 of a common share of Ascot for each share of IDM held (the “Consideration”). The Transaction will consolidate Ascot’s Premier Gold project (“Premier”) and IDM’s Red Mountain project (“Red Mountain”), to create the leading high-grade gold development and exploration company in northwestern British Columbia’s Golden Triangle. The combined entity will benefit from numerous operational and development synergies.

The Consideration values IDM at approximately C$0.086 per share, representing a premium of approximately 54% to IDM shareholders based on the trailing 20-day volume weighted average price of each company as of the close of trading on January 4, 2019.  Upon completion of the Transaction, it is expected that IDM shareholders will hold approximately 16.7% of Ascot shares on an outstanding basis.

Benefits of the Arrangement include:

  • The combination of the two companies will result in a compelling resource base of high-grade measured and indicated gold-silver resources positioning Ascot as a consolidator of the southern Golden Triangle;
  • Complementary management teams with a combined skill set of mining development, operations, finance, exploration and community relations experience; locally-based team of miners, drillers and support team;
  • Two, 15+ km long early-Jurassic geological trends totaling 25,000 hectares, which host multiple advanced deposits with significant potential new high-grade gold discoveries located 25 kms from each other;
  • Geographic and regulatory proximity, with all assets located within Treaty territory of the Nisga’a Nation, near the prominent mining communities of Stewart, British Columbia and Hyder, Alaska;
  • A solid infrastructure foundation at Premier, which includes a process mill, tailings storage facility, power and water treatment facilities; and
  • Strong, supportive combined corporate, retail and institutional shareholder base providing enhanced market visibility.

Meeting Materials

New Releases:

HOW TO VOTE:

Voting Method Registered Shareholders
Shares held in own name and represented by a physical certificate.
Non-Registerd Shareholders
Shares held with a broker, bank or other intermediary.
Internet www.investorvote.com www.proxyvote.com
Facsimile North American toll free:
1-866-249-7775

Outside North America:
416-263-9524
Complete, date, and sign the voting instruction form
and fax it to the number listed therein.
Telephone North American Toll Free:
1-866-732-VOTE (8683)

Outside North America:
312-588-4290
Call the toll-free listed on your voting instruction form
and vote using the control number provided therein.
Mail Complete, date and sign the Proxy and return in the enclosed postage paid envelope to:

Computershare Investor Services Inc.
100 University Avenue, 8th Floor, Toronto, Ontario M5J 2Y1.
Complete, date and sign the Voting Instruction Form
and return it in the enclosed postage paid envelope.

Shareholder Questions:

Questions may be directed to our proxy solicitor:

NORTH AMERICAN TOLL FREE:

1-877-452-7184

COLLECT CALLS OUTSIDE NORTH AMERICA:

                1-416-304-0211                

EMAIL: [email protected]

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