Ashley Gold Corp. Closes First Tranche - Signs Drill Contractor for Maiden Howie Program in December 2025
Executive Summary
- Ashley Gold Corp. closed the first tranche of its $530,000 private placement financing, raising $265,237.56 in gross proceeds.
- Proceeds will fund eligible flow‑through exploration expenses (drilling at Howie and other projects) and hard‑dollar costs for exploration and corporate G&A.
- The release includes detailed updates on the Howie project’s recent drilling results and a planned 550 m, $137,500 low‑cost scout drill program targeting the Gap Zone.
Key Details
- Financing Structure – First tranche comprised:
- 1,578,922 Flow‑Through (FT) units at $0.095 each plus a 2‑year half‑warrant at $0.15 → $149,795.09 gross proceeds.
- 1,536,833 Non‑Flow‑Through (NFT) units at $0.075 each plus a 2‑year half‑warrant at $0.12 → $115,262.47 gross proceeds.
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Management Funding – Management contributed $78,750 of the tranche.
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Use of Proceeds –
- Flow‑through funds: eligible exploration expenses (drilling) to be renounced by Dec 31 2025.
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Hard‑dollar proceeds: exploration costs and corporate G&A.
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Related Party Purchases –
- CEO Darcy Christian purchased 200,000 units for $15,000.
- President Noah Komavli purchased 100,000 units for $7,500.
- Komavli‑controlled entity (1000903966 Ontario Inc.) purchased 550,000 units for $41,250.
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CFO Paul Rozek purchased 200,000 units for $15,000.
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Finder’s Fees & Warrants – Finder’s fees of $12,521 and issuance of 137,753 finder’s warrants (exercise price C$0.075, 24‑month term).
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Howie Project Update –
- Spring/Summer stripping on Main Katisha zone returned 20.2 g/t Au over 0.8 m.
- Twilight Zone channel sampling yielded a weighted average of 0.624 g/t Au over 22.9 m.
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Historic 1987 core assay: 0.33 g/t Au over 25.74 m near Twilight Zone.
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Planned Scout Drill Program (Howie) –
- Up to 550 m of oriented‑core drilling, projected cost $137,500.
- Primary target: Gap Zone (linear anomaly along East Fault between Howie and Twilight Zones).
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No historic drilling in Gap Zone; program includes shallow fence drill, two scissored holes targeting Twilight Zone plunge.
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Future Mobilization – Rig to be moved to a second site near Howie after initial pad; potential reuse for Alto‑Gardnar program in early 2026 pending tranche 2 funding.
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Financing Terms (Full Offering) – Up to $530,000 CAD total:
- NFT units at $0.075 each (1 common share + ½ warrant). Full warrant exercisable at $0.12 for 24 months.
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FT units at $0.095 each (same composition); full warrant exercisable at $0.15 for 24 months.
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Regulatory & Exemptions – Offering made to existing shareholders under B.C. Instrument 45‑534 and to certain investors via B.C. Instrument 45‑536; subject to CSE acceptance, statutory hold periods (4 months + 1 day).
Notable Quotes
“The first tranche will allow for execution of the planned scout drill program at the company’s Howie project… I look forward to securing the last tranche and allocating funds towards additional drilling!” – President Noah Komavli