Ashley Gold Corp. Reports TAK-26-01 Assay from Phase 1 Drilling, Intercepts 1.104 g/t Au over 28 m, Including 1.662 g/t Au over 12 m - with Mineralization Starting at Collar - Bordering the NexGold Goliath-Gold Complex, Dryden Area, Ontario

Executive Summary

• Ashley Gold Corp. has released the first assay results from its Phase 1 drilling program at the Tak Patents, highlighting significant gold mineralization in the newly identified Double 9 Zone (D99Z).
• Drill hole TAK-26-01 confirmed multi-gram intercepts within a continuous ~28m interval, with mineralization starting at the surface.
• The Company is preparing for Phase 2 drilling, which is scheduled to resume in late May 2026, focusing on the 67 Zone (67Z).

Key Details

• Drill Hole TAK-26-01 Highlights:
  • Continuous interval of ~28m containing multiple gram-per-tonne intercepts.
  • Notable intercepts include:
    • 3.89 g/t Au (1.0m)
    • 3.84 g/t Au (1.0m)
    • 3.03 g/t Au (1.0m)
    • 2.01 g/t Au (1.0m)
    • 1.92 g/t Au (1.0m)
    • 1.87 g/t Au (1.0m)
    • 1.60 g/t Au (1.0m)
  • The hole displays mineralization starting at the drill hole collar.
• Phase 1 Status: Four additional holes from the Phase 1 program are currently pending assay results.
• Phase 2 Drilling Plan:
  • Scheduled to begin in late May 2026.
  • Will focus on the 67 Zone (67Z).
  • Objectives include twinning or stepping back from historical holes TAK-02-06 and TAK-02-07.
  • Historical reference for TAK-02-06 includes 3.08 g/t Au over 7.57m; TAK-02-07 includes 9.67 g/t Au over 0.8m.
• Geological Observations: Deepest holes (TAK-26-02 and TAK-26-03) showed pervasive green sericite-chlorite alteration, brecciation, and quartz veining with increased sulphide content.

Notable Quotes

President Noah Komavli: "From research to purchase, capital raise, and execution, our team has delivered the most impactful drill program in the history of the Company in five months... what has me most excited is that we have literally just started to scratch the surface of this project!"

CEO Darcy Christian: "The significant results returned give us added confidence in the historic values and allow us to move into Phase 2 when ready. I look forward to receiving the assays for the four pending holes, as well as the completed IP inversion."