Ashley Gold Corp. Channel Assays High-Grade Gold of up to 130 g/t Au at the Alto-Gardnar Project, Ontario

Executive Summary

• Ashley Gold Corp. reported high‑grade channel assay results from the Alto‑Gardnar project, including intercepts of 130 g/t Au and 71.3 g/t Au over 1 m intervals.
• The sampling confirms a ≥150 m long high‑grade vein zone within a lower‑grade halo, extending a potential high‑grade corridor over 150 m with an average of 14.2 g/t Au over 1 m.
• Management announced that permit applications for a double winter diamond‑drill program have been submitted, targeting a minimum 60‑day approval timeline.

Key Details

• Assay Highlights – Coarse visible gold returns: 130 g/t Au (sample #346612) and 71.3 g/t Au (sample #346613); also 14.2 g/t Au over 1 m in a shear‑zone sample (#346624).
• Channel Sampling – Confirms high‑grade grab samples from May 2024 (106 g/t Au) and identifies a ≥150 m long zone up to 5 m wide hosting quartz veins with anomalous gold.
• Geology – Zone situated on the north side of the Alto‑Gardnar deformation zone; consists of mafic metavolcanics intruded by quartz porphyry, with sulphide enrichment (chalcopyrite, sphalerite) and visible gold.
• Historical Context – Prior work includes 2006 Gossan Resources channel sampling (up to 9.69 g/t Au) and earlier drilling in 1995; Ashley acquired the project in Oct 2022.
• Permit & Drilling Plan – Permits for diamond drilling are being submitted; company aims to commence a double winter drill program, expecting permit approval within ~60 days. Access is excellent via existing logging roads, allowing year‑round drilling.
• Quality Assurance/Control – Samples processed by ActLabs (Dryden, ON) using 1A3 fire assay with detailed QA/QC procedures described in the release.
• Qualified Person – Darcy Christian, P.Geo., CEO, reviewed technical information per NI 43‑101; noted that some historical data are not fully verified but considered indicative of potential.

Notable Quotes

“I’m thrilled with the findings of high grade gold values from an area which was previously obscured by overburden… While still a bulk tonnage target, the presence of high grade material within a low grade halo is significant.” – Noah Komavli, President & Director

All forward‑looking statements regarding the planned drill program are subject to risks and uncertainties as outlined in the release.