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Ashley Gold Corp. Submits Final Phase II Holes for Fire Assay, Delivers High Priority Phase III TAK-26-16 to Lab

CALGARY, ALBERTA – August 13, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to share core visuals from Phase II drilling on the Tak Patents.

President Noah Komavli; “Our team is busy logging and cutting, with high priority Phase III hole TAK-26-16 delivered to the lab. TAK-26-06 is the first modern exploration hole ever collared between the D99Z and the 67Z. Assays will provide the baseline data needed to execute on a follow-up campaign to infill between the zones. Future holes may be collared slightly farther North, with added potential to capture the main vein observed on the surface in a recent site-visit. The main vein is a large quartz structure and was the focus of all prior operators in the 1900’s, likely being the reason the property was patented.”


Positioning

  • 4 Phase II holes remain pending, updates expected in the weeks to come,
  • 7 holes from Phase III undergoing geological logging and cutting,
  • High priority hole TAK-26-16 delivered to lab (visuals shared Aug. 11, 2026),
  • 8 grab samples pending, 4 samples from the newly identified Gossan Zone.

Exploration Zones

Figure 1: Tak Exploration Zones

Final Phase II Holes

TAK-26-06 was delivered to ActLabs, Dryden during the last week of July, 2026, TAK-26-09 was delivered to ActLabs early in the second week of August, 2026.  

Figure 2: TAK-26-06 – Example Mineralization (~5.00m to 30.00m)

Figure 3: TAK-26-06 – Example Mineralization (~30.00 to 60.00m)

Figure 4: TAK-26-06 – (~60.00 to 85.00m) – Example Mineralization (Right) at ~73m

Tak – Main Vein

During Phase III drilling, the Main Vein was traced on the surface from the Eastern edge of the greater area around the D99Z to just behind the TAK-26-06 pad. This large quartz structure was the focus of prior operators in the 1900’s. Trenches up to 4m deep, 3m wide and 80m long are still visible, but overgrown and slumped in. The vein appears to dip shallowly to the South. Both prior phases of drilling occurred while the historic workings were under snow cover. The Company believes this structure may offer additional upside in the area of D99Z, especially to the East, where prospecting in the late 90’s did not occur over most of the patented ground, simply labelled on prospect maps as “deadfall” (Triex, 1999). A September prospecting program will look at ground truthing a priority resistive body that extends East of the D99Z (Priority Level 2, IP priority map shared June 25, 2026).

Figure 5: Komavli Admiring the Size of the Vein

Figure 6: Kuran (Left) & Komavli (Right) Following the Vein West Towards the TAK-26-06 Pad

Figure 7: Left Images – Komavli (Left) & Kuran (Right) in One of Many Trenches | Right Images – Example Vein Mineralization at Surface 

Tak Project – Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators – in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Figure 8: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. With the final two holes still pending from Phase 1 drilling, the surface mineralization width in the D99Z is already estimated at +80m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-02-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip.

NTZ:

The Northern Trench Zone (“NTZ”) comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley discovered a high-grade gold zone through prospecting, sampling up to 398 g/t Au. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records.   

Tak History

January 1940s – Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI. 

1980 – Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI. 

1998-1999 – Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI. 

2002 – Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report. 

January 6, 2026 – Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). 

February 10, 2026 – Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. 

March 14, 2026 – Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. 

April 2–10, 2026 – Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. 

April–May 2026 – Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 – Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval. 

May 20, 2026 – Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 – Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

Quality Assurance / Quality Control

The Company utilizes a drill rig recovering NQ core. All core is sealed in the field by the drill contractor and transported to the core logging facility. Core is then teched and logged by the Company geologist. Sample intervals are marked and flagged using ActLab sample tags. All samples are cut using a wet saw and placed in pre-labelled sample bags pertaining to the sample interval. When a sample interval is complete, the assay card is added to the respective sample bag and the bag is securely sealed. Rice bags are labelled with the company name and a range of ten sample numbers, with the secured sample bags then being placed into the rice bags pertaining to the range labelled on the rice bag. The rice bags are then securely fastened with zip ties. Rice bags are stored in a secured shipping container until Company contractors transport completed holes to ActLabs in Dryden, ON for 1A2 Au fire assay. A sample size of 5 to 50 grams can be used but the routine size is 30 g for rock pulps, soils or sediments (exploration samples). The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with Ag added as a collector and the mixture is placed in a fire clay crucible. The mixture is then preheated at 850°C, intermediate 950°C and finish 1060°C with the entire fusion process lasting 60 minutes. The crucibles are then removed from the assay furnace and the molten slag (lighter material) is carefully poured from the crucible into a mould, leaving a lead button at the base of the mould. The lead button is then placed in a preheated cupel which absorbs the lead when cupelled at 950°C to recover the Ag (doré bead) + Au. Overlimits are run under 1A3, where the material is dried, crushed (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverized (mild steel) to 95% passing 105 µm.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program.

Management cautions that core visuals and grab samples are selective in nature to begin with and are not representative of the hole or property in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

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Ashley Gold Corp. Concludes Phase III Program, Shares Visuals, Provides Prospecting Update

CALGARY, ALBERTA – August 11, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to share visuals relating to the concluded Phase III program.

President Noah Komavli; “Phase III has the potential to be our most impactful program yet, with drill data expanding our model of the broader area around the 67Z. The eastern horizon of the 67Z became a focal point of the campaign due to positive visuals. As a result of meterage expenditure along the strike and within the vicinity of the 67Z, NTZ drilling was placed on hold for a future campaign. The Company views this as a positive and calculated move to ensure idle drill move time was minimized during Phase III, with potential to follow-up on the NTZ in a future campaign. Concurrent to drilling, prospecting has revealed yet another compelling target, with additional grab samples now pending.”


About Phase III

  • 7 holes completed in the resistive body of the Tak QFP,
  • 3 holes West of the 67Z, 1 hole stepped North of the TAK-26-07 collar, 3 holes East of the 67Z,
  • Additional prospecting based off of IP data in the chargeability high, Northwest of the NTZ has uncovered a Gossan Zone.

Positioning

  • 4 Phase II holes remain pending, updates expected in the weeks to come,
  • 7 holes from Phase III undergoing geological logging, cutting to kick off shortly, 
  • 4 grab samples pending from the newly identified Gossan Zone, 4 from North of 67Z.

Figure 1: Area of Drilling & Prospecting

Phase III Core Visuals

Figure 2: Example Mineralization in TAK-26-16 (~63.5m)

Figure 3: TAK-26-16 – Potassic Alteration and Carbonate Vein with Example Mineralization on Margin (~68m)

Figure 4: TAK-26-16 – Example Mineralization (~39m) in Silicified Potassic Altered QFP

Figure 5: Example Mineralization in TAK-26-16, Quartz-Carbonate Veinlets (“QCV”) and Altered QFP

Figure 6: Example Mineralization in TAK-26-14, Potassic Altered QFP with QCV (~2m before EOH)

Figure 7: TAK-26-16 – (~64m) Potassic Altered QFP with QCV and Sulphides

Figure 8: TAK-26-14 – Potassic Altered QFP with QCV and Sulphides (~87m)

Figure 9: TAK-26-14 – Altered QFP with QCV Stockworks

Figure 10: Komavli (Left) & Kuran (Right) During Phase III Drilling – Holding Interval of TAK-26-12 – Buff Beige Altered QFP with QCV, Possible Magnetite (~96m)

Chargeability High IP Model & Prospecting

During Phase III drilling, Prospector William Kuran ground truthed a chargeability anomaly that was modelled to break the surface Northwest of the NTZ.

Clearing a thin layer of overburden uncovered a gossan zone. Gossans are intensely weathered, oxidized, or decomposed upper caps of mineral systems. It forms when subsurface sulfide minerals (like pyrite or chalcopyrite) react with air and water, leaving behind a rusty, bright red, orange, or yellow surface stain rich in iron oxides, hydroxides, and quartz.

The Company awaits grab assay results, beginning with 1A2 fire assay for gold values, to be followed by ICP-MS for a multi-element analysis suite. 

Figure 11: IP Model Used to Find Gossan Zone

Figure 12: Gossan Zone Exposure

Figure 13: Gossan Zone – Example Mineralization – Possible Malachite and Abundant Iron Staining / Iron Oxide Presence

Tak Project – Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators – in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Figure 14: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. With the final two holes still pending from Phase 1 drilling, the surface mineralization width in the D99Z is already estimated at +80m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-02-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. Example mineralization is shared below.

NTZ:

The Northern Trench Zone (“NTZ”) comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley discovered a high-grade gold zone through prospecting, sampling up to 398 g/t Au. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records.   

Tak History

January 1940s – Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI. 

1980 – Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI. 

1998-1999 – Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI. 

2002 – Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report. 

January 6, 2026 – Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). 

February 10, 2026 – Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. 

March 14, 2026 – Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. 

April 2–10, 2026 – Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. 

April–May 2026 – Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 – Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval. 

May 20, 2026 – Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 – Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

Quality Assurance / Quality Control

All grab samples were collected in the field using a hammer and chisel. Locations were obtained using a handheld GPS with samples placed in pre-labelled sample bags. Samples were securely transported by field staff to ActLabs in Dryden, ON for 1A2 Au fire assay. A sample size of 5 to 50 grams can be used but the routine size is 30 g for rock pulps, soils or sediments (exploration samples). The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with Ag added as a collector and the mixture is placed in a fire clay crucible. The mixture is then preheated at 850°C, intermediate 950°C and finish 1060°C with the entire fusion process lasting 60 minutes. The crucibles are then removed from the assay furnace and the molten slag (lighter material) is carefully poured from the crucible into a mould, leaving a lead button at the base of the mould. The lead button is then placed in a preheated cupel which absorbs the lead when cupelled at 950°C to recover the Ag (doré bead) + Au.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program.

Management cautions that core visuals and grab samples are selective in nature to begin with and are not representative of the hole or property in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

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Ashley Gold Corp. Updates Investors on the Icefield Option, Receives Notice of Execution

CALGARY, ALBERTA – Aug 6, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to update the market on strategic portfolio developments.

President Noah Komavli; “We have and will continue to work closely with the Optionee to ensure a smooth transaction, with the aim of unlocking value for both sides. The Optionee has completed a work program on Vertebrae Ridge to maintain the claims in good standing and has also deployed a Qualified Person (QP) to the ground with the intention of generating a 43-101 tech report for the go-public process. Now, with receipt of the Notice of Execution, the Optionee has further indicated their interest in securing the claims and working towards a completed transaction.”


About the Icefield Transaction

The Icefield Portfolio is 100% owned by Ashley Gold Corp. and previously the Company announced the Option Exclusivity Period and terms of the Option Agreement (“Option”) on June 5, 2026. The Option Agreement details the steps and milestones to be made by the Optionee to secure 100% ownership of Ashley’s interest.

Highlights as of August 6, 2026:

  • $25,000.00 in cash for option period exclusivity (paid), 
  • $50,000.00 in cash on exercise (to be paid), 
  • $1,300,000.00 in equity within 12 months of exercise notice, 
  • $100,000.00 in cash on listing or re-admission of a listed company, 
  • Option exclusivity period can be extended by 3 months with payment of $25,000.00, 
  • Optionee to fulfill upcoming work requirements (fulfilled), 
  • DGRM 2% NSR and conditions to be enforced. 

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

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Ashley Gold Corp. Appoints Seasoned Mining Veteran Jeffrey Ackert to Advisory Board

CALGARY, ALBERTA – Aug 4, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to update the market with an addition to its Advisory Board.

President Noah Komavli; “I have had the pleasure of working closely with Jeffrey at Cascade Copper, and his depth of knowledge in the gold exploration and development space will be invaluable to Ashley as we advance our Dryden area portfolio. I look forward to his advice on all matters.”

Incoming Advisor, Jeffrey Ackert; 

“I am pleased to join Ashley Gold as an advisor and contribute the benefit of more than four decades of experience in gold exploration, mine development, and project evaluation,” stated Jeffrey Ackert. “The Company’s portfolio offers compelling exploration opportunities, and I believe the Tak Patents represent a particularly significant asset. Having previously been part of the Lac Minerals portfolio, these claims have long been recognized for their geological potential. I look forward to working with the Ashley Gold team as they apply modern exploration techniques to advance this underexplored property within one of Ontario’s most prospective and rapidly evolving gold camps.”

Figure 1: Mr. Ackert at Ashley’s Core Shack – Viewing Tak Core

About Jeffrey Ackert

Mr. Ackert is a veteran geologist and executive with over four decades of discovery success across global frontiers. He launched his career in the 1980s booming mining sector, driving regional exploration for powerhouse firms like St. Joe Minerals, Bond Gold Canada, and Lac Minerals. By 1990, he transitioned to the frontline as Mine Geologist at the historic Golden Patricia Mine (later acquired by Barrick Gold Corp), mastering the critical intersection of production and exploration.

Recognizing his global vision, Orezone Resources tapped him as VP of Exploration in 1996 to unlock West Africa’s gold potential, later elevating him to VP of Technical Services in 2005. Presently Mr. Ackert serves as CEO and President of Cascade Copper Corp. (CSE:CASC), which has acquired a pipeline of high potential copper and gold projects in Canada. A proven entrepreneur, Jeff co-founded C3 Metals, spearheading the discovery of major copper porphyry and skarn systems in Peru and Jamaica. He holds a BSc. in Geology from the University of Toronto.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

News Releases
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Office Admin

Ashley Gold Corp. Closes Final Tranche of Non-Brokered Private Placement

CALGARY, ALBERTA – July 31, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement of units (the “Units”) for aggregate gross proceeds in this tranche of CDN$72,797.58 (the “Offering”), bringing aggregate gross proceeds under the private placement to CDN$447,831.59. 

With the closing of this tranche, the Offering is complete and no further tranches will be closed.

President Noah Komavli; 

“With this tranche the financing is closed out. The Company continues to be actively drilling at the Tak and we will update the market as results come in.”


Tranche 2

The second and final tranche consisted of the issuance of:

• 769,232 critical mineral flow-through units (the “CFT Units“) at a price of CDN$0.065 per CFT Unit for gross proceeds of CDN$50,000.08; and

• 414,500 non-flow-through units (the “NFT Units“) at a price of CDN$0.055 per NFT Unit for gross proceeds of CDN$22,797.50.

Each CFT Unit consists of one common share of the Company issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each NFT Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a “Warrant“) entitles the holder to acquire one additional common share of the Company at a price of CDN$0.10 per share for a period of 24 months from the closing date of the Offering. The common shares issuable upon exercise of the Warrants will be issued as non-flow-through common shares.

The gross proceeds from the sale of the CFT Units will be used to incur eligible Canadian exploration expenses intended to qualify as “flow-through critical mineral mining expenditures” within the meaning of the Income Tax Act (Canada), including drilling at the Company’s permitted gold projects located in Ontario. The Company will renounce such qualifying expenditures to subscribers of the CFT Units with an effective date no later than December 31, 2026, and will incur such qualifying expenditures on or before December 31, 2027. The gross proceeds from the sale of the NFT Units will be used for general and administrative expenses and general working capital purposes.

In connection with the second tranche, the Company paid aggregate cash commissions and finder fees of CDN$5,823.81 and issued  94,698 finder warrants to eligible registered dealers and finders. Each finder warrant is exercisable to acquire one common share of the Company at a price of CDN$0.065 per share for a period of 24 months from the closing date of the second tranche.

All securities issued in connection with the second tranche are subject to a statutory hold period of four months and one day from the date of issuance, expiring on December 1, 2026, in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange. The Offering remains subject to final acceptance of the Canadian Securities Exchange.

Following completion of the Offering, the Company has 101,568,386 common shares issued and outstanding.

No insider of the Company subscribed for securities under the second tranche and no new control person of the Company was created as a result of the Offering.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

Burnthut, News Releases
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Office Admin

Ashley Gold Corp. Initializes Phase III Drilling on Tak, Extends Surface Expression of the NTZ Vein to 300m

CALGARY, ALBERTA – July 22, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) has mobilized drill crews for a Phase III drill program on its wholly-owned Tak property in Northwestern Ontario. The new campaign will target strike and step-out extensions on the 67Z and Northern Trench Zone (NTZ), where recent surface prospecting has extended the NTZ vein expression to 300 meters.

  • Phase III Drilling Launch: Targeting high-priority step-outs along the 67Z and exploratory drilling to probe the NTZ depth.
  • 300m Strike Extension in the NTZ: Successful prospecting and mapping have extended the NTZ vein’s surface expression to 300 meters, remaining open along strike. The vein parallels or splays off of the >1 km resistive body, which lies South (See Figure 1).
  • Recent Surface Success: Follows historical highs and recent grab sampling returning grades up to 398 g/t Au.
  • Fully Funded: The program is supported by a strong treasury and a recent follow-on financing raise of up to $500,000 to support increased meterage. Tranche 1 was announced closed on July 15, 2026, raising CDN$375,034.01.

“As we finalize our logging and fire assays from Phase II, the sheer scale of the NTZ surface expression extending to 300 meters gives us added confidence as we kick off Phase III. The Tak QFP has undergone what appears to be multiple phases of mineralization and the NTZ Vein may be an overprint.” stated Noah Komavli, President of Ashley Gold Corp. “With crews mobilized and the program fully funded, our focus remains on stepping out from the 67Z and proving up additional mineralization on the Tak property.”

Figure 1: Planned Drilling and Recent Prospecting Results

Exploration Progress and Target Expansion

Following recent prospecting success on the Northern Trench Zone (NTZ), which returned some of the highest-grade grab samples in the property’s history, Ashley’s geological team has successfully mapped and defined the surface extension of the NTZ vein system to 300 meters. The mineralization remains open along strike and at depth, presenting a highly compelling target for immediate subsurface testing.

Table 1: Second Pass Prospecting Assays

Phase III Drill Campaign

This third drill campaign will focus on high-priority targets along the strike of the 67Z and NTZ trends. The Company has designed the program for approximately 50-meter step-outs to test the down-dip and lateral continuity of these high-grade structures. Drilling is slated to utilize shallow to medium-depth holes to maximize geological understanding and identify bulk-tonnage potential.

Financing and Operations

This phase of drilling builds on a highly successful operational season, supported by an upsized flow-through and non-flow-through financing recently closed by the Company. These funds ensure continuous operational momentum and meterage as the Company actively awaits assays from preceding Phase II drillholes (including TAK-26-07 and TAK-26-08).

Tak Project – Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators – in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Figure 2: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. The surface mineralization width in the D99Z has been defined as up to 100m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-02-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. Example mineralization has been shared.

NTZ:

The Northern Trench Zone (“NTZ”) comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley discovered a high-grade gold zone through prospecting, sampling up to 398 g/t Au. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records. Prospecting has confirmed a surface trend of over 300m, open in all directions.

Tak History

January 1940s – Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI. 

1980 – Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI. 

1998-1999 – Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI. 

2002 – Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report. 

January 6, 2026 – Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). 

February 10, 2026 – Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. 

March 14, 2026 – Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. 

April 2–10, 2026 – Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. 

April–May 2026 – Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 – Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval. 

May 20, 2026 – Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 – Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

QA/QC

All samples were collected in the field using a hammer and chisel. Locations were obtained using a handheld GPS with samples placed in pre-labelled sample bags. Samples were securely transported by field staff to ActLabs in Dryden, ON for 1A2 Au fire assay. A sample size of 5 to 50 grams can be used but the routine size is 30 g for rock pulps, soils or sediments (exploration samples). The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with Ag added as a collector and the mixture is placed in a fire clay crucible. The mixture is then preheated at 850°C, intermediate 950°C and finish 1060°C with the entire fusion process lasting 60 minutes. The crucibles are then removed from the assay furnace and the molten slag (lighter material) is carefully poured from the crucible into a mould, leaving a lead button at the base of the mould. The lead button is then placed in a preheated cupel which absorbs the lead when cupelled at 950°C to recover the Ag (doré bead) + Au. The entire Ag dore bead is dissolved in aqua regia and the gold content is determined by AA (Atomic Absorption). AA is an instrumental method of determining element concentration by introducing an element in its atomic form, to a light beam of appropriate wavelength causing the atom to absorb light. The reduction in the intensity of the light beam directly correlates with the concentration of the elemental atomic species.On each tray of 42 samples there are two blanks, three sample duplicates and two certified reference materials, one high and one low. Overlimits were re-run using 1A3, which is a fire assay gravimetric for over 5,000 ppb to ensure accurate values.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program. Management cautions that grab samples are selective in nature and are not representative of the property in its entirety or indicative of any grade overall.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

Burnthut, News Releases
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Office Admin

Ashley Gold Corp. Closes First Tranche of Financing, Sets Drill Date

CALGARY, ALBERTA – July 15, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of units (the “Units”) for aggregate gross proceeds in this tranche of CDN$375,034.01 (the “Offering”). 

The Company has received strong interest in the Offering and expects to close a second tranche in the coming weeks. Additionally, the drilling crew anticipates a start date of July 21, 2026 for Phase III drilling, targeting the NTZ and 67Z step-outs on the wholly owned Tak Patents, abutting the Goliath-Gold Complex.

President Noah Komavli; 

“The closing of this tranche enables increased operational flexibility for upcoming drilling. Additional interest has been reflected and we will close out the financing in due course. We will update the market on drilling once underway.”


Tranche 1

The Offering consisted of the issuance of:

• 5,000,524 critical mineral flow-through units (the “CFT Units“) at a price of CDN$0.065 per CFT Unit for gross proceeds of CDN$325,034.06; and

• 909,090 non-flow-through units (the “NFT Units“) at a price of CDN$0.055 per NFT Unit for gross proceeds of CDN$49,999.95.

Each CFT Unit consists of one common share of the Company issued as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and one-half of one common share purchase warrant. Each NFT Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a “Warrant“) entitles the holder to acquire one additional common share of the Company at a price of CDN$0.10 per share for a period of 24 months from the closing date of the Offering. The common shares issuable upon exercise of the Warrants will be issued as non-flow-through common shares.

The gross proceeds from the sale of the CFT Units will be used to incur eligible Canadian exploration expenses intended to qualify as “flow-through critical mineral mining expenditures” within the meaning of the Income Tax Act (Canada), including drilling at the Company’s permitted gold projects located in Ontario. The Company will renounce such qualifying expenditures to subscribers of the CFT Units with an effective date no later than December 31, 2026, and will incur such qualifying expenditures on or before December 31, 2027. The gross proceeds from the sale of the NFT Units will be used for general and administrative expenses and general working capital purposes.

In connection with the Offering, the Company paid aggregate cash finder fees of CDN$24,000.72 and issued
369,241 finder warrants to eligible finders. Each finder warrant is exercisable to acquire one common share of the Company at a price of CDN$0.065 per share for a period of 24 months from the closing date of the Offering.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance, expiring on November 16, 2026, in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange. The Offering remains subject to final acceptance of the Canadian Securities Exchange.

Following completion of the Offering, the Company has 100,384,654 common shares issued and outstanding.

Tak Project – Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators – in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Figure 01: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. The surface mineralization width in the D99Z has been defined as up to 100m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-02-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. Example mineralization has been shared.

NTZ:

The Northern Trench Zone (“NTZ”) comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley discovered a high-grade gold zone through prospecting, sampling up to 398 g/t Au. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records.   

Tak History

January 1940s – Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI. 

1980 – Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI. 

1998-1999 – Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI. 

2002 – Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report. 

January 6, 2026 – Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). 

February 10, 2026 – Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. 

March 14, 2026 – Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. 

April 2–10, 2026 – Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. 

April–May 2026 – Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 – Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval. 

May 20, 2026 – Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 – Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with a 100% ownership in Burnthut (including Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages, which are out under option.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

Burnthut, News Releases
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Office Admin

Ashley Gold Corp. Shares TAK-26-07 Core Visuals and Provides Updates – Submits Hole for Fire Assay

CALGARY, ALBERTA – July 9, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to provide visuals from its TAK-26-07 hole.

Positioning:

  • Two Phase II holes now submit to ActLabs Dryden, two completing logging,
  • 31 prospecting samples pending west of the high-grade grab samples (398 g/t Au, 152 g/t Au), 8 samples pending from South-East of the NTZ, “Bernie Zone”,
  • The Company is financed for additional drilling, with a Phase III program to commence in late July,
  • Interest exceeded last financing, secondary capital raise open for up to $500,000, to support additional meterage,
  • 6ix webinar and live Q&A, introducing the Company and value proposition, today at 12:00 PM EST, register here.

Figure 1: Phase 2 Drilling – Area of TAK-26-08 and TAK-26-07 Collars 

Figure 2: Phase 2 Drilling – Cross Section 

President Noah Komavli:

“Having been on site and reviewed both TAK-26-07 and TAK-26-08 in person, the 67Z requires additional step-out drilling to provide data on the continuity of these structures. The magnitude of the stockwork system in TAK-26-07 is impressive. Alteration within the TAK-26-08 buff-beige zone, which matches historic logs, begins to suggest a shallowly dipping structure to the north within the overall bulk-tonnage quartz-feldspar porphyry resistive body. Plans are underway to orient the drill rig to maximize data collection. Additional samples are pending on the north side of the resistive body, both along strike of the Northern Trench Zone (NTZ) and the newly identified Bernie Zone. The Company will share updates when available.”

Core Visuals

TAK-26-07

This hole was designed as a twin of TAK-02-06 and TAK-02-07. Historic logs from 2002 highlight a stockwork of quartz-carbonate veins and variable zones of potassic alteration, all of which were intersected in the twin hole.


Figure 3: Example Mineralization ( 4 m to 29 m)

Figure 4: Example Mineralization (29 to 54.5 m)

Figure 5: Example Mineralization (54.5 to 81.5 m)

Figure 6: Example Mineralization (81.5 to 107.5 m)

TAK-26-08

This first northern hole in the 67Z has provided excellent information. The 67Z represents an intense alteration zone located at or near the contact with a sulphide-rich quartz-eye porphyry and lies along the southern flank of a large chargeability body. The hole collared in the resistive portion of the quartz-feldspar porphyry and drilled through a wide zone of potassic material with varying degrees of alteration, silicification and sulphide content, with the most significant results focused on the interval from approximately 21 m to 67 m. TAK-26-08 exits the resistive body and intercepts a quartz-eye structure associated with the sulphide-rich quartz-eye porphyry, then trends into what appears to be the halo of the chargeability anomaly. The NTZ lies along the northern contact of the chargeability body, with 31 samples taken from and along strike to the southwest of the NTZ. The hole concluded at 128 m.

Tak Project – Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators – in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Figure 7: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. The surface mineralization width in the D99Z has been defined as up to 100m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-02-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. Example mineralization has been shared.

NTZ:

The Northern Trench Zone (“NTZ”) comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley discovered a high-grade gold zone through prospecting, sampling up to 398 g/t Au. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records.   

Tak History

January 1940s – Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI. 

1980 – Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI. 

1998-1999 – Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI. 

2002 – Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report. 

January 6, 2026 – Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). 

February 10, 2026 – Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. 

March 14, 2026 – Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. 

April 2–10, 2026 – Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. 

April–May 2026 – Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 – Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval. 

May 20, 2026 – Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 – Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program.

Management cautions that core visuals and grab samples are selective in nature to begin with and are not representative of the hole or property in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focussed on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with 100% ownership in Burnthut (and the Tak Patents), Howie, Alto-Gardnar claims. In British Columbia, the Company has optioned out the Icefield Portfolio, which includes two highly prospective claim packages.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

“Noah Komavli”

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca) (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

News Releases
ashley gold ore icon
Office Admin

Ashley Gold Corp. Readies Crew for Phase 3 Step Out Drill Program on 67Z and Exploratory Drilling on the NTZ, Yielding Recent Grab Samples of 398 g/t Au, Announces Follow-On $500,000 Critical Mineral Flow-Through and Non-Flow-Through Financing

CALGARY, ALBERTA – July 7, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to update the market on drill crew readiness for a third campaign, to kick off in mid-late July. Additionally, the Company is pleased to announce that it has launched a follow-on financing for gross proceeds of up to $500,000. 

Flow-through funds are expected to be used for eligible exploration expenses, including drilling at the company’s permitted projects and will be renounced by the company December 31, 2026. Non-flow through funds will be used for G&A expenses.

President Noah Komavli; “As previously disclosed, interest exceeded allocations from the prior financing close announced on June 23, 2026. Three anchor investors represent $350,000 of the announced financing. These funds will allow for increased meterage on the Tak property over the next few months, as well as cover G&A expenses. We will work on a quick close and share visuals from the TAK-26-07 hole in short order, which is also now pending assays.”

UPDATES

The following results from Phase 2 drilling and prospecting remain pending:

  • 31 additional prospecting samples along strike of the NTZ,
  • 4 holes from Phase 2 drilling, (TAK-26-08 and TAK-26-07 submit to ActLabs, Dryden),

Crew secured for a third drill program to focus on high priority targets along strike of the 67Z, on approximately 50m step outs, as well as one or more shallow holes to confirm orientations and possible continuity of the NTZ. Previously, the Company announced prospecting results, including a high of 398 g/t Au, on June 25, 2026.

FINANCING TERMS AND USE OF PROCEEDS

The Company announces a non-brokered private placement financing (the “Offering”) for aggregate proceeds of up to $500,000 (CDN) to advance exploration on Ashley’s Ontario gold properties, as well as for Corporate G&A.

The Offering will consist of the following units:

  • Critical Mineral Flow-Through Units (“CFT Units”) at a price of $0.065 per CFT Unit. Each CFT Unit will consist of one flow-through common share of the Company (a “CFT Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”).
  • Non-Flow-Through Units (“NFT Units”) at a price of $0.055 per NFT Unit. Each NFT Unit will consist of one common share of the Company (an “NFT Share”) and one-half of one Warrant.

Each whole Warrant will entitle the holder to purchase one additional common share of the Company (a “Warrant Share”) at an exercise price of $0.10 per Warrant Share for a period of 24 months from the closing date of the Offering. The Warrant Shares will be issued as non-flow-through common shares.

All securities to be issued under the Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

In connection with the issue and sale of the Units under the Offering, the Company may pay finder fees and finder warrants to eligible finders at the discretion of the Board of Directors.

THE EXISTING SHAREHOLDER EXEMPTION AND INVESTMENT DEALER EXEMPTION

The Offering will be made available to existing shareholders of the Company who, as of the close of business on July 6, 2026, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in B.C. Instrument 45-534 — Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada. The existing shareholder exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the existing shareholder exemption exceeding the maximum amount of the financing, the Company intends to adjust the subscriptions received on a pro rata basis.

The Company has also made the Offering available to certain subscribers pursuant to B.C. Instrument 45-536 – Exemption Form Prospectus Requirement for Certain Distributions Through an Investment Dealer. In accordance with the requirements of the investment dealer exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.

The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO. Management cautions that grab samples are selective in nature and are not representative of the property in its entirety or indicative of any grade overall.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focussed on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with 100% ownership in Burnthut (and the Tak Patents), Howie, Alto-Gardnar claims. In British Columbia, the Company has optioned out the Icefield Portfolio, which includes two highly prospective claim packages.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

“Noah Komavli”
Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Project timelines are highly dependent on future financing. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

Burnthut, News Releases
ashley gold ore icon
Office Admin

Ashley Gold Corp. Shares TAK-26-08 Core Visuals – Submits Hole for Fire Assay

CALGARY, ALBERTA – June 30, 2026 – Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to provide visuals from its TAK-26-08 hole.

Highlights:

  • Hole submitted to ActLabs Dryden, on Friday June 26, 2026, 112 samples
  • 31 prospecting samples pending west of the high-grade grab samples (398 g/t Au, 152 g/t Au).

Figure 1: Phase 2 Drilling – Area of TAK-28-06 Collar 

Figure 2: Phase 2 Drilling – Cross Section 

President Noah Komavli:

“Having been on site and reviewed the core in person, in my view, this is the best hole drilled to date on the property. I look forward to full assays and follow up next steps.”

Core Visuals

This first northern hole in the 67Z has provided excellent information. The 67Z represents an intense alteration zone located at or near the contact with a sulphide-rich quartz-eye porphyry and lies along the southern flank of a large chargeability body. The hole collared in the resistive portion of the quartz-feldspar porphyry and drilled through a wide zone of potassic material with varying degrees of alteration, silicification and sulphide content, with the most significant results focused on the interval from approximately 21 m to 67 m. TAK-26-08 exits the resistive body and intercepts a quartz-eye structure associated with the sulphide-rich quartz-eye porphyry, then trends into what appears to be the halo of the chargeability anomaly. The NTZ lies along the northern contact of the chargeability body, with 31 samples taken from and along strike to the southwest of the NTZ. The hole concluded at 128 m.


Figure 3: Example Mineralization ( 4 m to 20.5 m)

Figure 4: Example Mineralization ( 20.5 m to 39 m)


Figure 5: Example Mineralization (39 m to 55 m)

Figure 6: Example Mineralization at ~45 m

Figure 7: Example Mineralization ( 55 m to 72 m)

Tak Project – Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900’s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900’s. Within the patented boundary, only 11 historic holes were ever recorded from two operators – in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Figure 8: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker “D99Z”. With the final two holes still pending from Phase 1 drilling, the surface mineralization width in the D99Z is already estimated at +80m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-02-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title “67Z” by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. Example mineralization is shared below.

NTZ:

The Northern Trench Zone (“NTZ”) comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley discovered a high-grade gold zone through prospecting, sampling up to 398 g/t Au. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records.   

Tak History

January 1940s – Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI. 

1980 – Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI. 

1998-1999 – Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100–29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57–35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI. 

2002 – Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report. 

January 6, 2026 – Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M). 

February 10, 2026 – Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes. 

March 14, 2026 – Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex. 

April 2–10, 2026 – Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions. 

April–May 2026 – Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 – Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval. 

May 20, 2026 – Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 – Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project’s potential and are relevant for any future exploration program.

Management cautions that core visuals and grab samples are selective in nature to begin with and are not representative of the hole or property in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focussed on acquiring and developing highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s flagship assets are in the Dryden Area in Ontario with 100% ownership in Burnthut (and the Tak Patents), Howie, Alto-Gardnar claims. In British Columbia, the Company has optioned out the Icefield Portfolio, which includes two highly prospective claim packages.

For more information, please refer to the Company’s information available on SEDAR+  (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

“Noah Komavli”

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out in the Company’s documents filed on SEDAR+ (www.sedarplus.ca) (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.”

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