Ashley Gold hires Rodren for drilling at Howie project

Executive Summary

• Ashley Gold Corp. has mobilized Rodren Drilling Ltd. to its 100% owned Howie Project in Dryden, Ontario, to commence a maiden drill program targeting the "Twilight-Gap zone."
• The company recently closed the first tranche of a non-brokered private placement for gross proceeds of ~$265k, with the second tranche expected to close the week of Dec 15, 2025, to fund exploration and working capital.
• Recent exploration highlights include channel sampling returning 20.2 g/t Au over 0.8m in the Main Katisha zone and the successful location/assaying of historic 1987 Esso core showing 0.33 g/t Au over 25.74m, validating the need for follow-up drilling on IP anomalies.

Key Details

• Drilling Mobilization: Rodren Drilling Ltd. has arrived at the Howie Project site; trail brushing was completed, and the drill is expected to start the first hole on the day of the release.
• Drilling Strategy: The program aims to test the collision of a carbonate breccia system with the East fault in an area never previously drilled. It utilizes oriented core to address complex mineralization.
• Target Definition: Targets are selected based on 2024/2025 IP survey data, focusing on the "Twilight-Gap zone" where historic holes missed main IP targets but intercepted anomalous gold. The goal is to drill coinciding chargeability and resistivity with the best implied gold index.
• Proposed Scope: Maximum proposed metreage is 550 meters, described as highly capital effective.
• Recent Exploration Results:
  • Main Katisha Zone: Channel sampling returned a high of 20.2 grams per tonne Au over 0.8 metre (May 26, 2025).
  • Twilight Zone: Channel sampling returned a weighted average of 0.624 g/t Au over 22.9 m (Sept. 22, 2025).
  • Historic Core: Located 1987 Esso core, cut and assayed, returning 0.33 g/t Au over 25.74 m in proximity to the Twilight zone (Oct. 14, 2025).
• Financing Structure:
  • Total Offering: Up to $530,000 aggregate proceeds.
  • Non-Flow-Through (NFT) Units: Priced at 7.5 cents. Each unit contains one common share and 0.5 warrants. Warrants exercisable at 12 cents for 24 months.
  • Flow-Through (FT) Units: Priced at 9.5 cents. Each unit contains one common share and 0.5 warrants. Warrants exercisable at 15 cents for 24 months.
  • Tranche 1: Closed Nov. 27, 2025, with gross proceeds of $265,237.56.
  • Tranche 2: Anticipated closing the week of Dec. 15, 2025.
• Use of Proceeds: To advance exploration on Ontario and British Columbia gold properties and for general working capital.
• Regulatory/Exemptions: Offered via existing shareholder exemption (max $15,000 per shareholder) and investment dealer exemption. Securities subject to a four-month hold period.
• Technical Disclosure: Prepared by Darcy Christian, PGeo, CEO. Historical data from 1987 is noted as not fully verified but considered indicative of potential.

Notable Quotes

• "By taking a measured approach to exploration and capital allocations, Ashley has prepared for these exciting activities. Furthermore, on closing of our second tranche, funds can be used to follow up on these results or to conduct scout drilling on one of Ashley's additional high-priority targets." — President Noah Komavli
• "Having located the 1987 Esso core this summer, the company confirmed a historic discovery South of the Twilight zone. Now, we will follow up with a diamond drill fence to test the collision of a carbonate breccia system with the East fault. An area that has never been drilled." — President Noah Komavli
• "Modelling of the historic holes over the IP data shows a clear trend; the historic work completed in the 1980s misses main IP targets. Additionally, and perhaps most significantly, these historic holes consistently intercepted anomalous gold, even outside of the main target zone." — President Noah Komavli