Ashley Gold Corp. Names Noah Komavli as President and Director, Grants Stock Options

Mr. Komavli brings experience in Industrial Engineering, credit, capital markets, corporate communications and project management, further strengthening Ashley's leadership as it advances its portfolio of high-grade gold and base metal properties.

"We are delighted to welcome Mr. Komavli as President and also his appointment to the Ashley Gold Corp. Board of Directors," said Darcy Christian, CEO of Ashley. "His strategic contributions at Pegasus Resources Inc., combined with his Industrial Engineering background and capital markets experience, align seamlessly with our goal of unlocking value from our exploration portfolio. Having worked closely with Mr. Komavli for several months, I am confident in his ability to propel our organization forward."

"It is an honor to step into the President position of Ashley Gold Corp. at such a critical time." stated Noah Komavli. "The Company's focus on high-potential gold and base metal properties, coupled with its commitment to shareholder value, is compelling. I look forward to applying my experience to support Ashley's success, as well as communicating our developments to our shareholders."

The appointment of Mr. Komavli to the Board of Directors of Ashley Gold Corp. fully satisfies the conditions outlined in the Icefield purchase agreement. Mr. Komavli's appointment underscores Ashley's commitment to assembling a skilled and dynamic board to advance its exploration objectives and create long-term value.

Since July 2023, Mr. Komavli has served as a Director of Pegasus Resources Inc. (TSX-V: PEGA), where he has provided strategic insights into the company's exploration and development initiatives. His tenure at Pegasus is distinguished by his ability to foster collaborative approaches to mineral exploration, most recently through the sale of the Icefield Portfolio to Ashley Gold Corp. This transaction strengthened the asset bases of both companies and enhanced shareholder value. Mr. Komavli's understanding and passion for the resource sector, particularly in precious metals and mining, make him an invaluable addition to Ashley's board.

A graduate of the University of Toronto in Industrial Engineering, specializing in Information Systems, Mr. Komavli has developed a strong foundation in optimizing operational efficiency, driving continuous improvement and enhancing value chains. His entrepreneurial drive is evidenced by co-founding two startup software companies, showcasing his ability to innovate. With years of investment experience in exploration-focused companies, Mr. Komavli possesses keen capital markets acumen, equipping him to guide Ashley through market dynamics and investor relations. His proficiency in corporate communications and project management will further support the Company's exploration programs and ensure clear, impactful stakeholder engagement.

Option Grant

Ashley also wishes to announce the granting of stock options to certain directors, consultants and officers of the Company to purchase an aggregate of 3,400,000 common shares of the Company at an exercise price of C$0.05 per share, expiring in three years from the date of grant. The Options are subject to a 4 month 1 day restricted hold period. The Options were issued pursuant to the terms of the Company's stock option plan and the requirements of the CSE.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is dedicated to discovering the next multi-million-ounce gold deposit through efficient and innovative exploration. Operating in mining-friendly and politically stable jurisdictions, Ashley focuses on regions with proven neighboring success stories, creating a clear path toward value generation.

As one of the first movers in the highly coveted Dryden area of Northwest Ontario, Ashley is strategically positioned to leverage the region's rich geological potential. Our mission is to deliver substantive, long-term value for shareholders by uncovering and advancing world-class gold deposits in one of the most mining-friendly jurisdictions globally.

For further information, please contact:

Mr. Darcy Christian, P.Geo, President and CEO

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & FORWARD-LOOKING STATEMENTS

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management's expectations. Factors which cause results to differ materially are set out in the Company's documents filed on SEDAR+ (www.sedarplus.ca). Undue reliance should not be placed on "forward looking statements".

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