Ashley Gold Corp. Announces Howie Core Cutting Update, Sets NSR's for Howie and Burnthut Main Block to Zero, Dryden Area, ON, Grants Options

Executive Summary

• Ashley Gold Corp. is resetting Net Smelter Royalties (NSRs) to 0% on its Howie Project and Burnthut Main Block by issuing 400,000 common shares to the project vendor.
• The transaction also includes issuance of 1,500,000 stock options at $0.075 per share (four‑month hold) and cancellation of 925,337 previously granted options.
• Core‑cutting has commenced on the Howie Project with initial drilling results showing extensive mineralized zones (e.g., 21.8 m carbonate breccia, 93.5 m shear zone).

Key Details

• Share Issuance: 400,000 common shares to vendor; each share subject to a four‑month hold period; implied price $0.075 per share.
• NSR Reset – Ontario Projects:
• Howie Project – NSR reduced from ?% to 0%.
• Burnthut Main Block – NSR reduced to 0% (original claims and East Block).
• Remaining NSRs: Santa‑Maria (1.75%), Burnthut North Block (1%), Burnthut Island (1% with buyback conditions), Alto‑Gardnar (0.5%).
• Option Plan:
• 1,500,000 options granted to management, directors and contractors at $0.075 per option; three‑year expiry; subject to a four‑month + 1‑day hold.
• Board approved cancellation of 925,337 existing options (none held by management or directors).
• Exploration Update – Howie Project:
• Core cutting began early January 2026; assays pending.
• Four‑hole drilling campaign targeted the Twilight‑Gap anomaly.
• Notable intercepts:
  • HL‑25‑01 – 21.8 m of carbonate breccia with trace quartz stringers and pyrite.
  • HL‑25‑02 – 93.5 m shear zone transitioning to quartz veining (up to 99.2 m).
  • Additional mineralization shown in images of shear zones, quartz veins, and disseminated sulfides.
• Geological Context: Howie borders Dynasty Gold’s Thundercloud Project (Pelham Deposit), a high‑grade intrusive QFP target modeled as an open pit.
• Regulatory/Approval Conditions: Transaction subject to exchange and regulatory approvals; shares issued on an arms‑length basis.
• Qualified Person Statement: Technical information reviewed by Darcy Christian, P.Geo., Director & CEO, qualified under NI 43‑101.

Notable Quotes

“We see great potential in our portfolio and resetting the NSR’s to zero will make these projects increasingly attractive as we continue to advance them through exploration efforts.” – President Noah Komavli

All forward‑looking statements are subject to risks and uncertainties; actual results may differ.