Ashley Gold Corp. Provides 2025 Fall Exploration Update, Advancing High-Grade Gold Projects in Ontario

Highlights:

• Channel sample program completed; 32 assays pending

• Discovered the existence of intact, Howie Project drill core from 1987

• Executive team and field team mobilizing to site in second week of September, will view core and provide an update

President Noah Komavli, "Ashley Gold has been busy behind the scenes since launching our financing in late July. Phase 1 work was completed on the Howie Project in the third week of August, samples are now submitted, and assays are pending.

Additionally, William Kuran, Ashley's Project Manager, has taken excellent initiative, locating core from a minimum of 4 completed drill holes from the 1987 drill campaign on the Twilight Zone, our high priority zone of interest.

The core will be cut and half of it will be sent for assay. The results will play an important role in refining our exploration strategy and guiding the next steps.

Members from our executive team and our field team will be active in the field next week and have coordinated a viewing of the historic Howie Project diamond drill core. As updates become available regarding this exciting development, we will share them with the market."

Phase 1 - Howie Channel Cut Program

The field crew was mobilized in the last week of July for one week and completed activities in the third week of August, active in the field for a total of two weeks.

During the initial week, washing of the Twilight Zone outcrop occurred, exposing complex mineralization as well as silicified units at surface. In some areas, Esso's channel cuts were noted. During the second week, the cuts were completed and prospecting along the Katisha road cut and the Creek Showing was completed.

In total, 32 samples are now submitted to ActLabs in Dryden, Ontario.

• 5 grab samples from the newly identified Creek Showing

• 2 samples from the Katisha area road cut

• 2 grab samples from the Twilight Zone outcrop

• 23 channel samples representing 22.9m of cuts from various lithologies across the true width of the Twilight Zone outcrop

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Figure 01: Twilight Zone - Silicified Sample with Finely Disseminated Pyrite and Arsenopyrite Observed

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Figure 02: Twilight Zone - Carbonate Breccia with Fuchsite-Bearing Fragments

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Figure 03: Twilight Zone - (Left) Newly Exposed, Sulphide Bearing, Silicified Unit | (Right) Newly Discovered Lense of Mineralized Silicified Gabbro

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Figure 04: Twilight Zone - Completed Channel Cuts

Phase 1 - Desktop Study

Historic drill logs [1] on the Twilight Zone show broad zones (20 to 30m in width) of sulphide mineralization associated with carbonate breccia veins along with silicified zones. This mineralization coincides with the HL-06 anomaly from the modern IP survey Ashley has completed on a section of the Howie Project (see Figure 6).

Howie Project - Diamond Drill Core

A number of completed diamond core holes from Esso's campaign [1] are currently stored in Kenora, Ontario at the Kenora Core Library. This important program, part of an initiative by the Government of Ontario and the Department of Energy and Mining, looks at retaining the historical core for future generations and ensures continuity of information.

Presently, Ashley is focused on four Twilight Zone holes. Using the historic logs [1], the minimum ranges to be viewed by Ashley are noted in Table 1.

Table 01: Drill Hole ID's and Zones of Interest

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Figure 05: Historical Diamond Drill Hole Collar Located During Channel Program

Howie Project

• May 1987:

  • Esso Minerals conducts a two-year program on Howie (known as Snake Bay). Historic drill logs from 1987 detail wide zones of mineralization, however assays were redacted. Mining Data Ontario

• November 2022:

  • Initial surface prospecting and sampling at Main Katisha Shear Zone yielded assay results up to 52.80 g/t Au, validating the zone's gold potential*. Junior Mining Network, November 28, 2022

• January 2023:

  • Planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by the adjacent Dynasty Gold's Thundercloud Project results. Junior Mining Network, January 23, 2023

• April 2024:

  • Secured exploration permit and Ontario Junior Exploration Program funding, enabling advanced geophysical surveys and sampling. Junior Mining Network, April 2, 2024

• October 2024:

  • Completed induced polarization (IP) survey over 2 km of lines to define 2025 drill targets for subsurface mineralization. Ashley Gold Corporation website, October 15, 2024

• March 2025:

  • Reviewed IP survey data, expanded the project by two significant claims, and identified new targets along strike for further exploration. The Newswire, March 19, 2025

• May 2025:

  • Conducted mechanical stripping, outcrop washing, and channel sampling at Katisha Zone, with channel cut assay results up to 20.2 g/t Au, confirming continuity of gold mineralization within a 5-10m-wide deformation zone. Expanded strike length with discovery of a 1.6 g/t Au sample based on IP data*. Junior Mining Network, May 16, 2025, Junior Mining Network, May 26, 2025

Figure 06: Howie Project Resistivity and Chargeability (Respectively). HL-06 emerges as a top drill target, with potential width and strike. HL-02, HL-04, and HL-05 also identified as strong anomalies. Grid expansion recommended in future work program. Phase 1 washing and channels targeted the edge of the mineralized horizon in the Twilight Zone.

*Grab samples are selective samples, and the assay results may not necessarily represent true underlying mineralization.

References

[1] https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52F08NW0010/52F08NW0010.Pdf

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., CEO of Ashley, who is a Qualified Person as defined by NI 43-101.

About Ashley Gold Corp.

Ashley Gold Corp. is a focused exploration company targeting high-potential gold and polymetallic deposits in Canada's top mining regions. We aim to deliver strong returns for shareholders through smart exploration and strategic growth.

Our Assets

• Ontario (Dryden Area): 100% ownership in Burnthut, Tabor, Howie, Alto-Gardnar, plus an option on Sakoose claims.

• British Columbia: Icefield Portfolio with three promising claim packages.

For more information, visit: www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, President, Director

C: (647) 567-9840

E: noah.komavli@alumni.utoronto.ca
X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

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) (www.sedarplus.ca). Undue reliance should not be placed on "forward-looking statements."

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