Ashley Gold Corp. Provides Visuals from Phase 2 Drilling in 67Z, Dryden Area, Ontario

13:30 Uhr  |  The Newswire

CALGARY, June 9, 2026 - Ashley Gold Corp. (CSE: "ASHL") ("Ashley" or the "Company") is pleased to provide a comprehensive update in regards to ongoing activities.

Highlights:

• Two holes from Phase 1 remain pending, with assays expected shortly,

• Four holes of Phase 2 program completed, logging and cutting to commence later this week,

• Located additional outcrop east of the 67Z, to be drilled in a Phase 3 program,

• Thirty-two samples from prospecting have results pending.

President Noah Komavli:

"We have structured the Phase 2 program with 1 exploratory hole between D99Z and 67Z, as well as three holes on line 250 directly in the vicinity of the 67Z. This included 1 twin of the two holes from 2002 that found the zone, as well as two step outs south, drilling North for data points on lithologies and dip. Brief visuals from all 67Z holes show stockworks in QFP, potassic alteration, as well as some of the best sulphide content encountered to date on the Tak, with logging and assays to confirm these early field visuals in greater detail. I am excited to share our findings."

CEO Darcy Christian on the program; "We continue to be impressed by the scale and variety of mineralization present on the Tak patents. We are only 9 holes deep into a modern dataset, and most discoveries take significantly more meterage. By leveraging the data from the 11 historic holes, we are ahead of the curve in terms of what to look for. This is a complex system with what is likely a variety of phases contributing to what we see in the core. As we continue to refine our understanding of the system, we will develop greater clarity into what geological events occurred, leading to gold disposition. With 32 grab sample assays pending from prospecting, our next Phase 3 program will be focused on stepping out in all directions from 67Z, including the recently hailed Northern Trench Zone (NTZ), as well as east and west of the 67Z to probe strike extent."

Tak Project - Background

Situated abutting the Northeast of the Goliath Gold Complex, the Tak Patents have been the subject of intermittent exploration efforts from the 1900's, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. At least two surveys were flown, with the most detailed mapping occurring in the late 1900's. Within the patented boundary, only 11 historic holes were ever recorded from two operators - in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the Company.

Click Image To View Full Size

Figure 1: Regional Map and Area of Activity

In 2026, mere weeks after acquisition, Ashley commissioned the first modern IP survey. The results highlighted a +1km resistive body, with two main chargeable units flanking the resistive body to the North. Ashley engaged 518 Drilling Ltd., deploying equipment into the patents for continued use. Guided in part from historic records and Phase 1 drilling results, three high priority zones have emerged.

Exploration Zones

D99Z:

In early 2026, a 5 hole, first phase program was successful in validating and expanding 1999 results. The zone was given the moniker "D99Z". With the final two holes still pending from Phase 1 drilling, the surface mineralization width in the D99Z is already estimated at +80m.

67Z:

Two holes carried out in 2002 included TAK-02-06 and TAK-26-07, intercepting 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m), respectively (Southern Rio, 2002). These intercepts were some of the best in recorded history on the Tak Patents, and the area was given the title "67Z" by Ashley. In Phase 2 drilling, Ashley deployed 3 holes on IP line 250 to target the zone and collect data on lithologies, as well as dip. Example mineralization is shared below.

NTZ:

The Northern Trench Zone ("NTZ") comprises five trenches, up to 2m wide, 2m deep and some as long as 60m. This area has no drilling records, yet was worked vigorously, as evidenced by the scale of the trench networks. Ashley has 32 grab samples pending, with the majority taken from the trenches. Phase 3 drilling will allocate some meterage to test these zones with no historic drill records.

Phase 2 Visuals

Figure 2: IP Line 250 - 67Z - Three Phase 2 Holes Completed - Gold Index Pseudosection Looking 236 Degrees SW

Figure 2 outlines the three completed holes in the 67Z. TAK-02-06 and TAK-02-07 are plotted with Au > 0.1 g/t. The green colored isoshell on the left of the image is resistivity at 20,000 Ohm-m and the gold colored isoshells are chargeability at 30ms.

Click Image To View Full Size

Figure 3: TAK-26-07 - 67Z Twin - Potassic Altered QFP and Stockworks

Click Image To View Full Size

Figure 4: TAK-26-08 - 67Z First North Hole - Example Mineralization

Click Image To View Full Size

Figure 5: TAK-26-08 - 67Z First North Hole - Example Mineralization

Click Image To View Full Size

Figure 6: TAK-26-08 - 67Z First North Hole - Example Mineralization

Click Image To View Full Size

Figure 7: TAK-26-08 - 67Z First North Hole - Sulphide Mineralization in Quartz Carbonate Stringers

Click Image To View Full Size

Figure 8: TAK-26-08 - 67Z First North Hole - Altered QFP, Quartz Vein, Disseminated Sulphides

Click Image To View Full Size

Figure 9: TAK-26-08 - 67Z First North Hole - Potassic Altered QFP, Sulphide Stringers

Click Image To View Full Size

Figure 10: TAK-26-09 - 67Z Second North Hole - Potassic Altered QFP, Quartz Carbonate Stockworks

Click Image To View Full Size

Figure 11: TAK-26-09 - 67Z Second North Hole - Potassic Altered QFP, Stockworks (64 - 71 m)

Click Image To View Full Size

Figure 12: TAK-26-09 - 67Z Second North Hole - Example Mineralization

Click Image To View Full Size

Figure 13: TAK-26-09 - 67Z Second North Hole - Example Mineralization

Click Image To View Full Size

Figure 14: TAK-26-09 - 67Z Second North Hole - Example Mineralization

Prospecting & Phase 3 Initial Plans

Prospecting east, along a possible strike extent of the 67Z has revealed silicified rock with sulphide content. In Phase 3 drilling, these step out targets will be tested with high priority.

Click Image To View Full Size

Figure 15: Outcrop Along Strike (~40m east) of the 67Z

Click Image To View Full Size

Figure 16: Outcrop Example Mineralization - Quartz with Sulphide Content

Click Image To View Full Size

Figure 17: IP Pseudosection of Line 250, 67Z (left), and NTZ (right), Grey Drill Hole is a 210m Planned Phase 3 Hole to Test under the NTZ into the Chargeability Core, Within Strong Background Gold Index (Magenta/Pink)

Tak History

January 1940s - Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), extensive surface trenching (trenches up to 70 m long) on the Tak Grid targeting gold mineralization in quartz-feldspar porphyry (QFP); followed by 1948 magnetometer survey. MDI.

1980 - Cominco, geological mapping, rock sampling, and magnetometer survey over the property identifying porphyry-hosted gold potential. MDI.

1998-1999 - Triex Resources, acquired the Tak Patents; conducted prospecting, sampling, trenching (assays 1,100-29,790 ppb Au), and drilled 10 DDH (~1,558 m total), including TAK-99-10 returning 2.082 g/t Au over 31.83 m from 3.57-35.40 m (incl. 11.778 g/t Au over 2.88 m and 7.632 g/t Au over 1.10 m); outlined stockwork quartz-carbonate veining in silicified/carbonatized QFP; MDI.

2002 - Southern Rio Resources, optioned the property from Triex and drilled 8 DDH (~1,209 m) on the Tak Grid; outlined gold mineralization over ~350 m strike length to ~100 m depth with stockwork veining, visible gold noted, and intercepts including TAK-02-06: 3.08 g/t Au over 7.57 m (plus 7.0 g/t Au over 1.1 m) and TAK-02-07: 3.18 g/t Au over 8.7 m (incl. 9.67 g/t Au over 0.8 m). Southern Rio AFRI report.

January 6, 2026 - Ashley Gold Corp., acquired 100% ownership of the Tak Patents (part of Burnthut Project, ~100 ha patented ground adjoining NexGold Goliath-Gold Complex) via all-stock deal from for 3.5M shares; consolidates historical data showing bulk-tonnage QFP-hosted gold potential open in all directions; 5% NSR to Royal Gold Inc. (2.5% buyback for $1M).

February 10, 2026 - Ashley Gold Corp., announced operational readiness for winter drilling campaign on Tak Patents and engagement of Abitibi Geophysics for first-ever modern OreVision IP survey to refine targets and twin historic holes.

March 14, 2026 - Ashley Gold Corp., provided interim IP data revealing 1 km resistive trend on Tak Patents aligning with historic gold zones and abutting NexGold Goliath-Gold Complex.

April 2-10, 2026 - Ashley Gold Corp., completed mobilization to site (drill trails, 10+ pads, rig and skidder in place) and announced crew mobilization/drilling kick-off for Phase 1 program targeting validation of historic D99Z zone and extensions.

April-May 2026 - Ashley Gold Corp., completed Phase 1 diamond drilling (5 holes: TAK-26-01 to TAK-26-05) as twins/fans to historic holes; core logging/cutting showed strong alteration, pyrite, and quartz-carbonate veining with multiple visible mineralization examples; equipment left on site for Phase 2.

May 14, 2026 - Ashley Gold Corp., reported first Phase 1 assay (TAK-26-01): 1.104 g/t Au over 28 m from collar (incl. 1.662 g/t Au over 12 m), confirming and validating historic near-surface mineralization in D99Z zone; mineralization starts at surface with strong continuity of grade within interval.

May 20, 2026 - Ashley Gold Corp., reported TAK-26-02 assays: multiple gold intervals including 0.586 g/t Au over 34.2 m from surface within 194.1 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

June 4, 2026 - Ashley Gold Corp., reported TAK-26-03 assays: multiple gold intervals including 2.347 g/t Au over 4.35 m within 156.5 m of anomalous gold mineralization, further confirming broad width and continuity of the mineralized D99Z stockwork system south of TAK-26-01.

NI 43-101 Disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, 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-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. 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 core visuals and grab samples are selective in nature to begin with and are not representative of the hole or property in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.

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 100% ownership in Burnthut (and the Tak Patents), Howie, Alto-Gardnar claims. In British Columbia, the Company has optioned out the Icefield Portfolio, which includes 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 Komavli"

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."

Copyright (c) 2026 TheNewswire - All rights reserved.