Ashley Gold Corp. Intercepts Multiple Gold Bearing Intervals Including 0.586 g/t Au over 34.2 m From Surface Within 194.1 m of Anomalous Gold Mineralization - Bordering the NexGold Goliath-Gold Complex, Dryden Area, Ontario

(via TheNewswire) CALGARY, ALBERTA – TheNewswire - May 20, 2026 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley ” or the “Company ”) is pleased to share its second assay result from the recently completed Phase 1 drill program on its wholly owned Tak Patents.   Highlights: TAK-26-02 returns wide gold zone near surface, terminates in mineralization,  Results suggest broad width of the D99Z , south of previously reported TAK-26-01 (1.104 g/t Au over 28 m), with additional width to be confirmed in holes TAK-26-04 and TAK-26-05.  Assays from 3 holes remain pending.     Click Image To View Full Size   Figure 1: Regional Map and Area of Activity   President Noah Komavli: “This hole demonstrates gold mineralization throughout much of its length, highlighted by a strong near-surface intercept in Zone 1 of 34.2 metres grading 0.586 g/t Au, including 9.2 metres at 1.262 g/t Au. Additional mineralized zones were returned in the middle and lower sections of the hole. TAK-26-02 was the deepest drilled thus far on the property, and it’s encouraging to see mineralization continuing at depths below any previously drilled sections. This is particularly important as we have yet to define the boundaries of the gold mineralization or understand the plumbing of this system. As I stated when we released TAK-26-01, we are only beginning to scratch the surface of these claims, with results giving us invaluable data on the gold mineralization in the Tak Porphyry unit. I look forward to the next results!”   CEO Darcy Christian on Phase 1 and TAK-26-02 assays: “The D99Z surface gold mineralized zone looks to be pervasive based on the first two holes of the 2026 program coupled with historical information. We currently estimate surface width at over 80m with the results from upcoming holes having the potential to increase this.”    Project Map Click Image To View Full Size   Figure 2: Area of Reported Assays - Surficial Resistivity Click Image To View Full Size   Figure 3: D99Z Cross Section   Core Images         Click Image To View Full Size   Figure 4: TAK-26-02 - Part of Sample 2415181 - Quartz Stockwork with Example Mineralization - Returning 0.642 g/t Au Click Image To View Full Size   Figure 5: TAK-26-02 - Part of Sample 2415181 - 0.6m Downhole from Figure 4, Quartz Stockwork with Example Mineralization   Click Image To View Full Size   Figure 6: TAK-26-02 - Example Mineralization - Hydrothermal Pyrite Veinlet in Altered QFP     Assays and Discussion   Click Image To View Full Size   Table 1: Drilling Location Data   TAK-26-02 was designed as an eastern fan from TAK-02-02. The results display gold mineralization starting at the drill hole collar, with a notable gold interval over 34.2 m. The entire hole returned anomalous gold values, with three distinct zones (Zones 1, 2, and 3).   Click Image To View Full Size   Table 2: Significant Composite Assay Intervals in TAK-26-02    Hole_ID Sample # From (m) To (m) Length (m) Gold (g/t) TAK-26-02 2415063 3.00 4.00 1.00 0.149 TAK-26-02 2415064 4.00 5.00 1.00 0.251 TAK-26-02 2415065 5.00 6.00 1.00 0.049 TAK-26-02 2415066 6.00 7.00 1.00 0.014 TAK-26-02 2415067 7.00 8.00 1.00 2.200 TAK-26-02 2415068 8.00 9.00 1.00 0.026 TAK-26-02 2415069 9.00 10.00 1.00 0.073 TAK-26-02 2415071 10.00 11.00 1.00 0.881 TAK-26-02 2415072 11.00 12.00 1.00 0.075 TAK-26-02 2415073 12.00 13.00 1.00 0.039 TAK-26-02 2415074 13.00 14.00 1.00 0.088 TAK-26-02 2415075 14.00 15.00 1.00 0.020 TAK-26-02 2415076 15.00 16.00 1.00 0.074 TAK-26-02 2415077 16.00 17.00 1.00 0.040 TAK-26-02 2415078 17.00 18.00 1.00 0.077 TAK-26-02 2415079 18.00 19.00 1.00 1.640 TAK-26-02 2415081 19.00 20.00 1.00 0.267 TAK-26-02 2415082 20.00 21.00 1.00 0.444 TAK-26-02 2415083 21.00 22.00 1.00 0.088 TAK-26-02 2415084 22.00 23.00 1.00 0.072 TAK-26-02 2415085 23.00 24.00 1.00 0.507 TAK-26-02 2415086 24.00 24.80 0.80 0.543 TAK-26-02 2415087 24.80 25.80 1.00 0.321 TAK-26-02 2415088 25.80 27.00 1.20 0.295 TAK-26-02 2415089 27.00 28.00 1.00 0.263 TAK-26-02 2415091 28.00 29.00 1.00 2.860 TAK-26-02 2415092 29.00 30.00 1.00 0.046 TAK-26-02 2415093 30.00 31.00 1.00 0.405 TAK-26-02 2415094 31.00 32.00 1.00 0.293 TAK-26-02 2415095 32.00 33.00 1.00 0.031 TAK-26-02 2415096 33.00 34.00 1.00 0.472 TAK-26-02 2415097 34.00 35.00 1.00 0.993 TAK-26-02 2415098 35.00 36.20 1.20 4.850 TAK-26-02 2415099 36.20 37.20 1.00 0.687 TAK-26-02 2415101 37.20 38.00 0.80 0.063 TAK-26-02 2415102 38.00 39.00 1.00 0.036 TAK-26-02 2415103 39.00 40.00 1.00 0.080 TAK-26-02 2415104 40.00 41.00 1.00 0.038 TAK-26-02 2415105 41.00 42.00 1.00 0.057 TAK-26-02 2415106 42.00 43.35 1.35 0.129 TAK-26-02 2415107 43.35 43.75 0.40 0.186 TAK-26-02 2415108 43.75 45.00 1.25 0.189 TAK-26-02 2415109 45.00 46.00 1.00 0.013 TAK-26-02 2415111 46.00 47.00 1.00 0.049 TAK-26-02 2415112 47.00 48.00 1.00 0.012 TAK-26-02 2415113 48.00 49.00 1.00 0.003 TAK-26-02 2415114 49.00 50.00 1.00 0.080 TAK-26-02 2415115 50.00 51.00 1.00 0.008 TAK-26-02 2415116 51.00 52.00 1.00 0.063 TAK-26-02 2415117 52.00 53.00 1.00 0.107 TAK-26-02 2415118 53.00 54.00 1.00 0.060 TAK-26-02 2415119 54.00 55.00 1.00 0.017 TAK-26-02 2415121 55.00 56.00 1.00 0.071 TAK-26-02 2415122 56.00 57.00 1.00 0.010 TAK-26-02 2415123 57.00 58.50 1.50 0.018 TAK-26-02 2415124 58.50 60.00 1.50 0.920 TAK-26-02 2415125 60.00 61.50 1.50 0.431 TAK-26-02 2415126 61.50 62.75 1.25 0.083 TAK-26-02 2415127 62.75 64.00 1.25 0.089 TAK-26-02 2415128 64.00 65.50 1.50 0.003 TAK-26-02 2415129 65.50 67.00 1.50 0.012 TAK-26-02 2415131 67.00 68.50 1.50 0.120 TAK-26-02 2415132 68.50 70.00 1.50 0.060 TAK-26-02 2415133 70.00 71.50 1.50 0.008 TAK-26-02 2415134 71.50 73.00 1.50 0.003 TAK-26-02 2415135 73.00 73.75 0.75 0.007 TAK-26-02 2415136 73.75 74.50 0.75 0.200 TAK-26-02 2415137 74.50 76.00 1.50 0.064 TAK-26-02 2415138 76.00 77.50 1.50 0.017 TAK-26-02 2415139 77.50 79.00 1.50 0.023 TAK-26-02 2415141 79.00 80.50 1.50 0.068 TAK-26-02 2415142 80.50 82.00 1.50 0.145 TAK-26-02 2415143 82.00 83.50 1.50 0.011 TAK-26-02 2415144 83.50 85.00 1.50 0.007 TAK-26-02 2415145 85.00 86.00 1.00 0.040 TAK-26-02 2415146 86.00 87.00 1.00 0.010 TAK-26-02 2415147 87.00 88.00 1.00 0.172 TAK-26-02 2415148 88.00 89.00 1.00 0.232 TAK-26-02 2415149 89.00 90.25 1.25 0.176 TAK-26-02 2415151 90.25 91.25 1.00 1.220 TAK-26-02 2415152 91.25 92.75 1.50 1.110 TAK-26-02 2415153 92.75 93.75 1.00 0.013 TAK-26-02 2415154 93.75 95.25 1.50 0.210 TAK-26-02 2415155 95.25 96.50 1.25 0.418 TAK-26-02 2415156 96.50 97.75 1.25 0.035 TAK-26-02 2415157 97.75 99.25 1.50 0.125 TAK-26-02 2415158 99.25 101.00 1.75 0.223 TAK-26-02 2415159 101.00 102.50 1.50 0.052 TAK-26-02 2415161 102.50 103.50 1.00 0.003 TAK-26-02 2415162 103.50 104.50 1.00 0.003 TAK-26-02 2415163 104.50 105.50 1.00 0.053 TAK-26-02 2415164 105.50 107.00 1.50 0.194 TAK-26-02 2415165 107.00 108.50 1.50 0.913 TAK-26-02 2415166 108.50 110.00 1.50 0.024 TAK-26-02 2415167 110.00 111.00 1.00 0.031 TAK-26-02 2415168 111.00 112.20 1.20 0.066 TAK-26-02 2415169 112.20 113.00 0.80 0.010 TAK-26-02 2415171 113.00 114.30 1.30 0.084 TAK-26-02 2415172 114.30 115.80 1.50 0.016 TAK-26-02 2415173 115.80 117.00 1.20 0.003 TAK-26-02 2415174 117.00 118.25 1.25 0.012 TAK-26-02 2415175 118.25 119.60 1.35 0.117 TAK-26-02 2415176 119.60 121.00 1.40 0.141 TAK-26-02 2415177 121.00 122.50 1.50 1.120 TAK-26-02 2415178 122.50 124.00 1.50 0.407 TAK-26-02 2415179 124.00 125.00 1.00 1.140 TAK-26-02 2415181 125.00 126.00 1.00 0.642 TAK-26-02 2415182 126.00 127.00 1.00 1.260 TAK-26-02 2415183 127.00 128.50 1.50 0.596 TAK-26-02 2415184 128.50 130.00 1.50 0.069 TAK-26-02 2415185 130.00 131.50 1.50 0.042 TAK-26-02 2415186 131.50 133.00 1.50 0.123 TAK-26-02 2415187 133.00 134.50 1.50 0.018 TAK-26-02 2415188 134.50 135.50 1.00 1.190 TAK-26-02 2415189 135.50 137.00 1.50 0.286 TAK-26-02 2415191 137.00 138.00 1.00 0.122 TAK-26-02 2415192 138.00 138.50 0.50 0.423 TAK-26-02 2415193 138.50 140.00 1.50 0.182 TAK-26-02 2415194 140.00 141.50 1.50 0.065 TAK-26-02 2415195 141.50 142.00 0.50 0.209 TAK-26-02 2415196 142.00 143.00 1.00 0.051 TAK-26-02 2415197 143.00 144.00 1.00 0.043 TAK-26-02 2415198 144.00 145.50 1.50 0.035 TAK-26-02 2415199 145.50 146.50 1.00 0.086 TAK-26-02 2415201 146.50 147.50 1.00 0.006 TAK-26-02 2415202 147.50 149.00 1.50 0.003 TAK-26-02 2415203 149.00 150.50 1.50 0.053 TAK-26-02 2415204 150.50 152.00 1.50 0.055 TAK-26-02 2415205 152.00 153.40 1.40 0.053 TAK-26-02 2415206 153.40 154.90 1.50 0.277 TAK-26-02 2415207 154.90 156.40 1.50 0.009 TAK-26-02 2415208 156.40 157.90 1.50 0.006 TAK-26-02 2415209 157.90 159.40 1.50 0.003 TAK-26-02 2415211 159.40 161.00 1.60 0.114 TAK-26-02 2415212 161.00 162.50 1.50 0.003 TAK-26-02 2415213 162.50 164.00 1.50 0.014 TAK-26-02 2415214 164.00 165.50 1.50 0.003 TAK-26-02 2415215 165.50 167.00 1.50 0.003 TAK-26-02 2415216 167.00 168.50 1.50 0.031 TAK-26-02 2415217 168.50 170.00 1.50 0.070 TAK-26-02 2415218 170.00 171.50 1.50 0.087 TAK-26-02 2415219 171.50 172.60 1.10 0.003 TAK-26-02 2415221 172.60 173.60 1.00 0.035 TAK-26-02 2415222 173.60 174.65 1.05 0.073 TAK-26-02 2415223 174.65 175.45 0.80 1.110 TAK-26-02 2415224 175.45 176.95 1.50 0.120 TAK-26-02 2415225 176.95 178.50 1.55 0.095 TAK-26-02 2415226 178.50 180.00 1.50 0.119 TAK-26-02 2415227 180.00 181.50 1.50 0.107 TAK-26-02 2415228 181.50 183.00 1.50 0.088 TAK-26-02 2415230 183.00 184.00 1.00 0.298 TAK-26-02 2415231 184.00 185.50 1.50 0.193 TAK-26-02 2415232 185.50 187.00 1.50 0.313 TAK-26-02 2415233 187.00 188.50 1.50 0.381 TAK-26-02 2415234 188.50 189.80 1.30 0.206 TAK-26-02 2415235 189.80 190.70 0.90 0.571 TAK-26-02 2415236 190.70 192.20 1.50 0.095 TAK-26-02 2415237 192.20 193.70 1.50 0.082 TAK-26-02 2415238 193.70 194.90 1.20 0.483 TAK-26-02 2415239 194.90 196.20 1.30 0.382 TAK-26-02 2415241 196.20 197.10 0.90 0.509   Table 3: Assay Results   Phase 1&2 - Next Steps   Phase 1 drilling focused on validating the historic holes drilled in 1999, as core is unavailable. Core from 2002 may have been cut to quarters in some sections, and therefore spacing of holes in Phase 1 drilling was planned to validate as much data as possible between 2002 and 1999 holes. TAK-26-02 and TAK-26-03 are the deepest holes drilled on the property to date, and mineralization present in the bottom of the holes displayed pervasive green sericite-chlorite alteration, brecciation, and quartz veining accompanied by an increased sulphide content, all of which could potentially indicate a higher degree of interaction with hydrothermal fluids.   Phase 2 mobilization will be announced formally by the Company, with a start date estimated for late May 2026. The Phase 2 program will pick up in the 67 Zone (“67Z ”), with one hole confirming mineralization from TAK-02-06 and TAK-02-07, through a split between the holes and/or a step back.   TAK-02-06 returned an intersection from 27.27 to 35.30 m that assayed 3.08 g/t Au over 7.57 metres; however, this included an assay of 13.l g/t over 0.75 m that could not be repeated despite 9 re-assays, again indicating the nugget effect of the gold mineralization. The hole also returned an assay of 7.0 g/t Au over 1.1 from 81.3 to 82.4 m within a breccia zone with quartz-carb infilling and 1-2% pyrite. (Southern Rio, 2002)   TAK-02-07 returned an intersection from 27.70 to 36.40 m that assayed 3.18 g/t Au over 8.7 metres; this includes 8.62 g/t Au over 0.5 m from 27.70 to 28.20 m, 9.67 g/t Au over 0.8 m from 29.45 to 30.25 m, and 7.57 g/t Au over l .4 m from 35.00 to 36.40 m. (Southern Rio, 2002)   From here, the Company expects to drill in an exploratory nature in zones of interest, at 50m spacings, or in scissors to test plunges. Assay results from the pending holes may have a material impact on planning, as well as the final IP report, which is due shortly.     QA/QC   The Company adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Drill core was boxed, covered and sealed at the drill rig site. Core boxes were labelled with the official drillhole name and identified in numerical sequence starting from beginning of the hole to the end. Wooden blocks with the corresponding down hole meterage were inserted after every drill run by the drill contractor. Drill core boxes were transported by contactors to the onsite logging facility where Company personnel took over the core handling.   All drilling at the Tak project recovers NQ core. Drill core is systematically cut in half using a diamond saw. A qualified geologist examines the intact drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a maximum of 1.5 meters or a minimum length of 0.3 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.   Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a representative sample, while the other half is submitted for analysis. Individual sample bags are labelled, tagged, and securely sealed - being then placed into rice bags, which are clearly marked with their contents. Each rice bag tends to hold 10 sample bags and is then sealed at capacity. The Company submits samples for gold determination by fire assay to ActLabs - Dryden. (“ActLabs”).   Samples were securely couriered to ActLabs in Dryden, ON by Company management and Company representatives for 1A2 Au fire assay with an Atomic Absorption finish. Samples are dried and pulverized with subsequent sample size of 5 to 50 grams. 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 finished at 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. Au is separated from the Ag in the doré bead by parting with nitric acid. The resulting gold flake is annealed using a torch. The gold flake remaining is then weighed on a microbalance to get the final assay value. When the sample returns over the limit of detection for the Fire Assay – AA method, the sample is re-processed and analyzed via the Actlabs 1A3 Au Fire Assay - Gravimetric method.   Tak References   Property MDI Link: https://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI000000002119.html   Wedge Zone assays: https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52G13NW2001/52G13NW2001.PdF   Triex logs (TAK-99 holes): https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52G13NW2002/52G13NW2002.Pdf   Southern Rio logs (TAK-02 holes): https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52F16NE2006/52F16NE2006.Pdf   NI 43-101 Disclosure The technical information in this news release was reviewed and approved by Shannon Baird, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Baird is Exploration Manager of Ashley Gold Corp. and registered as a Professional Geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.   *Management cautions that core visuals are selective in nature to begin with and is not representative of the hole 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 the Tak Patents), Howie, and Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having 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: [email protected] X: KKomavli   -Or-   Darcy Christian, P.Geo, CEO C: (587) 777-9072 E: [email protected]    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.” Copyright (c) 2026 TheNewswire - All rights reserved.