Ashley Gold begins Twilight zone core cutting in Ont.

Executive Summary

• Ashley Gold Corp. has concluded a week-long prospecting campaign across its Tabor-Sakoose and Howie projects in Ontario, submitting 11 additional grab samples for assay.
• The company has completed the acceleration clauses for 100% ownership of the Sakoose claims, with transfer of claims now pending.
• Core cutting has officially commenced on the historic Twilight zone core (1987 Esso Minerals core) to validate a near-surface, bulk tonnage target thesis.

Key Details

• Core Cutting Program:
  • Commenced on schedule on the historic Twilight zone core.
  • Core originates from 1987 drilling by Esso Minerals.
  • Objective: Validate the thesis of a near-surface, bulk tonnage target.
• Prospecting and Sampling:
  • 11 additional grab samples submitted for assays from prospecting activities.
  • Activities covered select areas on the Tabor-Sakoose and Howie projects within the Eagle-Wabigoon greenstone belt.
• Sakoose Ownership:
  • Accelerated ownership terms for the Sakoose claims have been fulfilled.
  • Claims will be transferred to Ashley Gold for 100% ownership.
• Tabor-Sakoose Project Updates:
  • Lee Lake Southeast: Located 800m northeast of the Kawashegamuk Lake shear zone; situated at the eastern margin of an extensive area of intense carbonate alteration. Past small-scale mining occurred in an open cut within a ~20m wide shear zone. Target has not yet been drilled or subjected to geophysical studies.
  • Santa-Maria 1 Pit: Located northwest of Lee Lake occurrence. Pit is mostly filled/caved in. A 12-inch-wide quartz vein was sampled, showing trace galena, chalcopyrite, and pyrite.
  • HW 486 Showing: Located in Sakoose East near a regional batholith. Past blasting observed. Host rock is magnetic silicified metavolcanic with trace disseminated sulphides. Two blue-grey quartz boudins observed with trace pyrite and marcasite.
• Howie Project Updates:
  • Visited known mineralized areas: Katisha, Howie, and Twilight.
  • Mineralization aligns with anomalies from induced polarization (IP) surveys.
  • Area described as a small fragment of the overall property showing promise.
• Infrastructure:
  • Both Tabor-Sakoose and Howie sites are road-accessible via maintained and recently refurbished logging roads.

Notable Quotes

• Noah Komavli, President: "Upon visiting two of our project sites and assisting in the field, it has broadened my understanding of the company's properties... With time spent on Tabor-Sakoose, particularly on the Santa-Maria and HW 486 showing on the Sakoose East, the realization of the greenfield nature of the claims outside of the past-producing mine sites hits home."
• Noah Komavli, President: "At Howie we visited known mineralized areas (Katisha, Howie, Twilight) which go hand in hand with anomalies from the induced polarization survey. This area is a small fragment of the overall property and shows promise."
• Noah Komavli, President: "With Twilight zone core cutting now commencing, we will look at validating our thesis of a near-surface, bulk tonnage target."