Ashley Gold Corp. Receives Permit for the High-Grade Alto-Gardnar Project, Dryden, Ontario

13:30 Uhr  |  The Newswire

CALGARY, March 25, 2026 - Ashley Gold Corp. (CSE: "ASHL") ("Ashley" or the "Company") is pleased to share an operational update related to its Alto-Gardnar project.

Highlights:

• Permitted for up to 13 pads, line cutting and IP surveys

President Noah Komavli; "The Alto-Gardnar project has seen significant historical surface work and limited drilling. Prior operators looked at the system as a low grade, bulk ton target. Given our high grade findings in the fall 2025 channeling program, which included 130 g/t Au over 1.0m, this project warrants further attention and scout drilling to probe the high grade zone at depth. The pairing of the permitted IP survey will allow efficient exploration and greater resolution outside the stripped area."

CEO Darcy Christian on the recent permit; "We have reached a significant milestone in our portfolio, with every Ontarian project now permitted, and our BC portfolio partially permitted with Vertebrae Ridge being the only project pending issuance. This gives our Company a unique edge and increased flexibility in terms of future planning. We will now also look at expanding our permit at the Burnthut to include IP lines outside the Tak Patents."

Alto-Gardnar Project

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Image 1: Regional Map, Inset Alto-Gardnar Shear Facing North-East

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Image 2: Alto-Gardnar Shear, Facing South-West

Project History - Alto Project

1937:

Gold discovered at Alto-Gardner by l.W. Alto and W. Gardnar (Berger, 1989).

1940:

Sandybeach Lake Syndicate; stripping, trenching, bulk sampling, including 125-ton bulk sample from an open cut with a reported grade of 0.231 ounces per ton (opt). In 1943, Satterly (in Berger, op.cit.) reported the bulk sample ran 0.081 opt, although the discrepancy between the two values is unresolved.

1982:

Ground restaked by K. and M. Bernier, who cut a grid and conducted a ground VLF survey, in addition to resampling historic trenches. (in Berger, op.cit.)

1983:

Report highlighting a strong northeast-southwest striking quartz vein system in Keewatin greenstone intruded by quartz porphyry, with favorable geology for gold mineralization similar to nearby deposits. The main vein extends over 1,000 feet with widths up to 24 feet, showing visible gold, pyrite, chalcopyrite, and commercial assays up to 0.37 oz/ton gold. (Report, 1983)

1986:

Loydex Resources Inc. flew airborne magnetometer and EM survey over the area including the Alto-Gardnar shear zone (Terraquest, 1987)

1995:

Champion Bear Resources drilled four diamond drill holes on the Alto-Gardnar property (Pryslak and Sears, 1995).

2006:

Gossan Resources conducted a field program involving 340 meters of mechanical stripping, detailed geologic mapping, channel sampling of 273 samples, prospecting, and MMI soil sampling to define the structural controls and extend the shear zone. Results revealed anomalous gold values up to 9.69 g/t primarily in sheared mafic volcanics with quartz stringers and alteration, alongside identification of potential shear extensions up to 2.3 km northeast. Conclusions highlight two styles of gold mineralization-in quartz veins and shear zones-recommending re-assaying for nugget effects, petrographic analysis, and drilling to further evaluate the property's potential.

October 2022:

Ashley acquires the Alto-Gardnar project.

May 2024:

Ashley Gold Discovers New Vein at Alto-Gardnar Assaying 106 g/t Au. (News Link)

November 2025

Ashley Gold channels the high-grade zone, cutting 130 g/t Au over 1.0m. (News Link)

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 focused 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 Santa-Maria, Burnthut (including the Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two 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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