Ashley Gold Corp. Shares Twilight Zone Core Visuals, Updates Ontario Portfolio, Acquires 100% Ownership of Sakoose

Highlights:

• Viewed core, historical logs accurate over viewed intervals, sets date for cutting

• Prospecting ongoing, splitting time between Tabor South (Santa Maria) and Howie Twilight Zone South-East

• Advances Tabor-Sakoose district scale study, accelerates ownership to 100%

• Dropping Echo Option, returning claims to vendor

President Noah Komavli on the update,

"Ashley continues to position itself for success by taking decisive action for our future amid this strong gold move.

Viewing the core has allowed for some validation of the historic data with the team returning for cutting next week. These holes were part of a scout drilling campaign by Esso and though early stage at the time, show that the area has strong potential to host additional mineralization. With our neighbors targeting this style of mineralization, these visuals are encouraging.

With our existing pipeline of projects and near term catalysts, we will be directing all available resources to focus on discovery. After careful review of the portfolio, we have elected to drop the Echo Project option. I want to thank the vendor for the opportunity to evaluate the claims, as well as for being very flexible in its return.

In tandem, we are announcing the acceleration of our earn-in on the Sakoose Option, bringing our ownership to 100%.

I look forward to continuing to work with our field team prospecting south of Tabor, in the under-explored Santa-Maria area, as well as exploring the extension of the Twilight Zone on the Howie Project."

Historic Twilight Zone Core

A member of the executive team and field team visited the Kenora core library for core viewing. The core is in perfect condition and has been well maintained, a testament to the great work provided by the Kenora facility.

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Image 01: SB-87-005 - President Komavli Viewing 25 Meters of Continuous Mineralization, Previously Sampled by Esso

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Image 02: SB-87-003 - Project Manager Will Kuran

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Image 03: SB-87-005 Example from Zone of Interest

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Image 04: SB-87-003 Pyritic Stockwork Zone

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Image 05: SB-87-005 Previously Assayed Sections Laid Out

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Image 06: SB-87-005 Mineralization Example

Sakoose Ownership

The Sakoose Option ("the Option") will be accelerated, as per the original agreement disclosed in press release dated October 24, 2023.

The vendors will receive the outstanding cash amount for Year 2 (current year - $18,000) as well as for Year 3 ($14,000) and have opted to be issued $20,000 in shares (500,000 common shares). The acceleration agreement to fulfill the Option is subject to the CSE approval and all shares are subject to a statutory 4 month, 1 day hold.

With the Tabor-Sakoose claims hosting 3 past producing sites, as well as regional modelling pending, this acquisition will streamline permitting under one Company name. With interested parties inquiring about this claim package, single ownership allows for greater ease in negotiations.

Echo Option

Ashley has elected to drop this property and has negotiated terms with the property vendors, such that the company will issue 120,000 common shares at a deemed price of $0.05. The termination agreement is subject to the CSE approval, and all shares are subject to a statutory 4 month, 1 day hold.

Reference to Historic Core Logs:

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 Shannon Baird, P.Geo., Exploration Manager of Ashley Gold, 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-Sakoose, Howie, Alto-Gardnar

• British Columbia: 100% ownership of the 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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