Ashley Gold Corp. Concludes Phase 1 Drilling, Provides Additional Updates

• Ashley Gold Corp. concluded Phase 1 diamond drilling on the 100% owned Tak Patents as of April 23, 2026.
• Five drill holes were completed; core logging and cutting are underway with assays pending for hole TAK-26-01.
• Visual observations include potassic altered quartz feldspar porphyry with cubic and disseminated sulphides, quartz veinlets, and hydrothermal pyrite.
• The drilling crew has demobilized for spring breakup, but equipment remains on-site for Phase 2 execution following the melt.
• This follows a series of operational updates from January to April 2026 regarding mobilization, IP surveys, and financing closure ($807k raised).

• The news confirms execution of the drilling program announced in the March 2026 financing, reducing execution risk.
• No assay results are released yet; the material catalyst (grade validation) remains pending for Phase 1 hole TAK-26-01 and subsequent holes.
• Visual observations are positive but preliminary; they do not constitute a resource estimate or grade confirmation.
• The market has already priced in the drilling activity, evidenced by the stock price decline from $0.08 (Jan/Feb) to $0.05 (April).
• This is an incremental update rather than a game-changing discovery, as it validates progress without delivering new economic data.

• Company: Ashley Gold Corp., focused on gold exploration in Ontario (Dryden Area) and British Columbia.
• Flagship Project: Tak Patents (Burnthut Property), 100% owned, abutting NexGold's Goliath-Gold Complex.
• Project Scope: ~1,900 ha total area; historic drilling shows high-grade gold intervals within a porphyry system.
• Other Projects: Howie Project (maiden drilling completed Dec 2025), Alto-Gardnar (high-grade channel sampling), Gold Mountain BC (polymetallic).