Mr. Noah Komavli reports

ASHLEY GOLD CORP. ANNOUNCES FILING OF EARLY WARNING REPORT, PRESIDENT SURPASSES 10% OWNERSHIP THRESHOLD

Ashley Gold Corp. president Noah J. Komavli has filed an updated early warning report pursuant to National Instrument 62-103, in connection with a transaction that will result in him exceeding 10-per-cent ownership of the company's common shares.

"This milestone reflects my continued confidence in Ashley Gold Corp.'s strategic direction and growth potential," stated Noah Komavli, president of Ashley Gold. "I am committed to driving value for our shareholders as we advance our exploration and delineation initiatives -- and look forward to continuing to support the company. This winter exploration season could be characterized by aggressive drilling on the Tak, I look forward to providing guidance as plans materialize."

Transaction

The Tak patent transaction announced Jan. 6, 2026, involves the issuance of securities.

After giving effect to the issuance, Ashley Gold has 74,189,873 issued and outstanding securities.

Ownership

Mr. Komavli, through direct ownership and through the control and direction of 1000903966 Ontario Inc., holds a total of 9,643,200 common shares, representing approximately 12.998 per cent of the company's common share, free trading float.

In addition, Mr. Komavli holds the following unexercised securities of the company:

• Options: 600,000;
• Warrants: 275,000 (1000903966 Ontario Inc.), 1,975,000 (direct).

On a fully diluted basis, 12,493,200 of 105,498,878 fully diluted shares are under the control and direction of Mr. Komavli. This represents a 11.842-per-cent control over all securities.

The early warning report will be filed on SEDAR+ under the company's profile.

About Ashley Gold Corp.

Ashley Gold 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-per-cent ownership in Santa-Maria, Burnthut (and the Tak patents), Howie, Alto-Gardnar claims, as well as in British Columbia with the Icefield portfolio having two highly prospective claim packages.

We seek Safe Harbor.