Ashley Gold Corp. Provides Operations Update for Ongoing Tak Drill Program

Ashley Gold Corp. released an operational update on April 20, 2026, regarding its ongoing diamond drilling program at the 100% owned Tak Patents in Northwestern Ontario. The company reports that four holes have been completed during Phase 1 of the drill program. Core logging and cutting are progressing as anticipated for hole TAK-26-01, with 62 samples submitted to ActLabs Dryden for assay. Visual observations from hole TAK-26-02 indicate strong mineralization including quartz, fine disseminated sulphides, pyrite cubes within potassic altered quartz feldspar porphyry (QFP), and quartz carbonate veining. Management is onsite, and the company has secured equipment capable of drilling >500m holes for at least one year.

The news is categorized as Routine - Positive. It confirms the execution of a previously announced capital raise and exploration plan rather than introducing new material value or discovery. The visual observations are encouraging but lack assay grades, which remain the critical metric for valuation. The update validates that the company is utilizing its March 2026 financing ($807k raised) as intended to fund the Tak Patents program. There is no immediate financial impact on the balance sheet, and the news does not alter the risk profile significantly compared to previous mobilization updates. It serves as a confirmation of operational discipline rather than a catalyst for re-rating.

Ashley Gold Corp. is an exploration company focused on gold properties in Ontario (Dryden Area) and British Columbia. The flagship project for 2026 is the Tak Patents, acquired in January 2026 via all-stock transaction adjacent to NexGold's Goliath-Gold Complex. The property hosts a historic 1.5 km mineralized corridor with high-grade gold potential within a quartz-feldspar porphyry body. Other key assets include the Burnthut Project (100% owned), Howie Project, Alto-Gardnar Project, and Gold Mountain (BC).