Ashley Gold Corp. Signs Exclusivity Period for Patented Ground Adjoining NexGold Mining Corp.'s Goliath Gold Complex, Seeks to Optimize Burnthut Project, ON

Executive Summary

• Ashley Gold Corp. entered a two‑week exclusive due‑diligence period to acquire the Tak Patents (≈100 ha) in a proposed all‑stock, related‑party transaction.
• Purchase price is CDN $190,000 plus taxes and fees; consideration includes issuance of 3,500,000 shares at market price on Dec 23 2025.
• The Tak Patents host historic high‑grade gold intercepts (e.g., 2.082 g/t Au over 31.83 m) and could enable a fourth drilling target adjacent to existing Burnthut projects; an update is expected in early January 2026.

Key Details

• Exclusivity Period: 2‑week exclusive due‑diligence window signed Dec 23 2025.
• Property Description: Former Lac Minerals/Barrick patents covering ~100 ha, a 1.5 km mineralized corridor with historic high‑grade and bulk‑tonnage gold near surface.
• Potential Drilling Targets:
• Howie – core logging completed, cutting commencing (permitted).
• Burnthut Oro Zone – permitted.
• Alto‑Gardnar – permit pending.
• Historic Intercepts (selected):
• TAK‑99‑10: 2.082 g/t Au over 31.83 m (3.57‑35.40 m); includes 11.778 g/t Au over 2.88 m.
• TAK‑02‑06: 3.08 g/t Au over 7.57 m; 7.0 g/t Au over 1.1 m.
• TAK‑02‑07: 3.18 g/t Au over 8.7 m; includes 9.67 g/t Au over 0.8 m.
• Acquisition Price: CDN $190,000 cash (plus taxes, land transfer, legal and accounting fees).
• Share Consideration: 3,500,000 Ashley Gold shares issued at the close‑of‑market price on Dec 23 2025; subject to statutory hold periods.
• Related‑Party Structure: Purchase negotiated through 1000903966 Ontario Inc., controlled by President Noah Komavli; vendor was arms‑length.
• Regulatory Exemptions: Company will rely on MI 61‑101 exemptions (no formal valuation or minority shareholder approval required as consideration < 25 % of market cap).
• Board Approval: Independent directors approved the exclusivity period; President abstained due to conflict. Final board resolution pending satisfactory due‑diligence outcome.
• Closing Conditions: Subject to CSE approvals; expected to close shortly after definitive agreement execution.
• Forward‑Looking Statements: Update on transaction anticipated first week of January 2026; project timelines dependent on future financing.

Notable Quotes

• President Noah Komavli: “Ashley Gold has positioned 2026 as a pivotal year… due diligence over the holidays will lead to a definitive decision on the Tak Patents.”
• CEO Darcy Christian: “The proposal of an all‑stock deal keeps our treasury front and centre… we expect an update in the first week of January, 2026.”