Ashley Gold Corp. Announces Ground Prospecting Results from Santa-Maria, Howie, Ontario Projects

Highlights:

• Early stage prospecting work completed on historic showings at Santa Maria and Lee Lake South-East

• Anomalous gold values returned, with a high of 7.46 g/t Au from Lee Lake South-East and a high of 4.65 g/t Au from the Santa Maria 1 pit

• Prospecting on Howie at the new Creek Showing identified another sample above or in-line with peer cutoffs with anomalous silver values; further re-inforcing bulk tonnage target potential

President Noah Komavli on the assays;

"Grab sampling is selective by nature, but it is nice to see a theme of elevated gold values at the showings, paired with trace amounts of valuable byproducts, like silver.

Of particular interest is the Santa-Maria and Lee Lake sampling, which confirmed gold in galena. Both of these occurrences are at a very early stage and will require more detailed follow-up.

At Howie, a multi-element sampling of the channel cuts is underway, and the Howie grab samples taken have returned silver in addition to elevated gold grades, still above common industry cut-offs.

On the corporate development side, the company has conducted a strategic review and is expected to announce streamlining efforts in the coming weeks as developments become material.

With a pipeline of results still pending, we look forward to receiving and sharing further values, as they will directly impact Ashley's next steps."

Santa-Maria Project

The Lee Lake Southeast occurrence is located in a recently clear cut area, with freshly refurbished logging roads. It is situated just 800m northeast of the wide, northwest-trending Kawashegamuk Lake shear zone, and occurs at the eastern margin of an extensive area of intense carbonate alteration [1]. Past small-scale mining occurred in an open cut within an approximately 20m wide shear zone. Additional quartz veins were observed along the shear. This target is yet to be drilled and has not been the subject of geophysical studies.

The Santa-Maria 1 pit is located just North-West of the Lee-Lake occurrence along the same logging road. Host rock outcrops on either side of the logging road. The Santa-Maria pit was visited, and is mostly filled or caved in, with two visible quartz veins running into the east side wall. A 12 inch wide quartz vein was sampled, with trace galena observed in clusters, as well as trace chalcopyrite and pyrite.

Click Image To View Full Size

Image 1: CEO Darcy Christian in the Santa Maria 1 pit - quartz vein (left)

Table 1: Santa-Maria Project Grab Sample Assays

Howie Project

The Creek Showing was first identified in May 2024 during stripping of the Katisha zone, and was uncovered in part due to an IP survey showing a chargeability high associated with the ground. Sample 346606 returned 0.36 g/t Au from a massive gabbro hosting trace pyrite in cubic form.

At the Twilight Zone, sample 346607 was composed of carbonated fragments (carbonate breccia vein), containing trace pyrite in silicified grey clasts and a carbonate matrix with trace pyrite.

The results from the Twilight Zone are in line with the channel assay program which returned a weighted average of 0.624 g/t Au over 22.9 m (announced September 22, 2025), further reinforcing the bulk tonnage model proposed by the company.

Table 2: Howie Project Grab Sample Assays

Project History - Howie Property

May 1987:

Esso Minerals conducts a two year program on Howie (known as Snake Bay). Historic drilling logs from 1987 detail wide zones of mineralization. Assays redacted. (Data Link)

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. (News Link)

January 2023:

Planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by Dynasty Gold's Thundercloud Project results. (News Link)

April 2024:

Secured exploration permit and Ontario Junior Exploration Program funding, enabling advanced geophysical surveys and sampling. (News Link)

October 2024:

Completed induced polarization (IP) survey over 2 km of lines to define 2025 drill targets for subsurface mineralization. (News Link)

March 2025:

Reviewed IP survey data, expanded the project by two claims, and identified new targets along strike for further exploration. (News Link)

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 in a 5-10m-wide deformation zone. Expanded strike with discovery of 1.6 g/t Au sample based on IP data. (News Link)

September 2025:

Located Snake Bay historic core, channel sampling completed at the Twilight Zone outcrop. Representative channel values delineate a wide gold bearing corridor, above peer open pit cutoffs. (News Link)

References

[1] https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52F08NW00012

Quality Control

All samples were collected in the field using a hammer and chisel. Locations were obtained using a handheld GPS with samples placed in pre-labelled sample bags. Samples were securely transported by field staff to ActLabs in Dryden, ON for 1A3 Au fire assay. Samples are dried and pulverized with subsequent random sample size of 5 to 50 grams. The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with Ag added as a collector and the mixture is placed in a fire clay crucible. The mixture is then preheated at 850°C, intermediate 950°C and finish 1060°C with the entire fusion process lasting 60 minutes. The crucibles are then removed from the assay furnace and the molten slag (lighter material) is carefully poured from the crucible into a mould, leaving a lead button at the base of the mould. The lead button is then placed in a preheated cupel which absorbs the lead when cupelled at 950°C to recover the Ag (doré bead) + Au. Au is separated from the Ag in the doré bead by parting with nitric acid. The resulting gold flake is annealed using a torch. The gold flake remaining is weighed gravimetrically on a microbalance.

For multi-element assays, the 1E3 package was used from ActLabs. 0.5g of sample is digested with aqua regia. The sample is cooled and then diluted with deionized water. The samples are then analyzed using an ICP for the 38 element suite. QC for the digestion is 15% for each batch, 2 method reagent blanks, 6 in-house controls, 8 sample duplicates and 5 certified reference materials. An additional 20% QC is performed as part of the instrumental analysis to ensure quality in the areas of instrumental drift.

NI 43-101 Disclosure

The technical information in this news release was prepared and reviewed by Darcy Christian, CEO, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-independent of Ashley Gold Corp.

Some results discussed in this document are historical. Ashley nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project's potential and are relevant for any future exploration program.

Management cautions that grab samples are selective in nature, and the assay results may not necessarily represent true underlying mineralization.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focussed on acquiring and developing highly prospective gold and polymetallic deposits in Canada's top mining regions. The Company's flagship assets are in the Dryden Area in Ontario with a 100% ownership in Tabor-Sakoose, Burnthut, Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having three highly prospective claim packages.

For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com
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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