Ashley Gold posts bond for Gold Mountain

Executive Summary

• Ashley Gold Corp. has posted a reclamation bond for its Gold Mountain polymetallic project in British Columbia, marking a critical milestone in the provincial permitting process.
• The release details significant historical and recent exploration data, including high-grade gold, silver, copper, and lead intercepts from past drilling and sampling programs.
• Management outlined a near-term strategic focus on the Dryden area (Tak patents) while providing a comprehensive overview of the BC government's mine permit and reclamation bond requirements.

Key Details

• Bond & Permitting: Reclamation bond posted as a condition for permit issuance under BC Mines Act Section 10(4); covers full estimated reclamation/closure costs if the proponent defaults.
• Project Location & Size: Gold Mountain project is located ~50 km northwest of Golden, BC, covering four claims totaling approximately 1,863 hectares.
• North Showing Grab Sample: Returned 4.87 g/t Au, 710 g/t Ag, and 1.89% Cu (Allen, 1982).
• South Showing Peak Values: Recorded 30.3 g/t Au, 13,301 g/t Ag, and 32.54% Cu (Allen, 1982).
• 1984 Drilling Intervals:
• 4.14 m @ 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, 8.74% Pb (Drill Hole A)
• 4.85 m @ 29.99 g/t Au, 6,711.3 g/t Ag, 11.0% Cu, 14.53% Pb (Drill Hole B)
• 2020-2021 Exploration Results:
• Five samples returned 1,000 to 6,670 g/t Ag
• Eight samples returned 1,260 to 8,220 ppm Sb
• Geological Context: Mineralized corridor spans over 600 metres, open at both ends, with mineralized boulders in a ~450m talus zone suggesting continuity between the North and South showings.
• Recent Activity: New claim additions have been secured to facilitate expanded exploration along the mineralized trend.
• NI 43-101 Disclosure: Technical information prepared/reviewed by Darcy Christian, PGeo (non-arm's length director/CEO). Historical data is unverified but considered indicative of project potential.

Notable Quotes

• "Ashley has reached one of the final steps in the permitting process for our Gold Mountain polymetallic project. Vertebrae Ridge has had a notice of work submitted and is in the government review process." – President Noah Komavli
• "With Ashley's near-term focus on the Dryden area -- specifically on the Tak patents -- a variety of strategic alternatives exist to streamline our operations if needed, with a focus on value creation for the company and shareholders." – President Noah Komavli