(via TheNewswire)
Calgary, Alberta – February 5, 2026 – TheNewswire - Ashley Gold Corp. (CSE: ASHL) (“Ashley” or the “Company”) announces that the Company has posted a bond for the Gold Mountain Project.
President Noah Komavli; “Ashley has reached one of the final steps in the permitting process for our Gold Mountain polymetallic project. Vertebrae Ridge has had a NoW submitted and is in the Government review process.
With Ashley’s near term focus on the Dryden Area - specifically on the Tak Patents - a variety of strategic alternatives exist to streamline our operations if needed, with a focus on value creation for the company and shareholders.”
Gold Mountain, BC:
Gold Mountain is an early staged gold-silver project, located about 50 km northwest of Golden, British Columbia. The project consists of four claims covering approximately 1,863 ha. Highlights include:
North Showing: Grab sample returned 4.87 g/t Au, 710 g/t Ag, and 1.89% Cu Allen, 1982
South Showing: Peak values of 30.3 g/t Au, 13,301 g/t Ag, and 32.54% Cu Allen, 1982
1984 Drilling Parr, 1984 : Notable intervals include:
4.14 m – 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb (Drillhole A)
4.85 m – 29.99 g/t Au, 6,711.3 g/t Ag, 11.0% Cu, and 14.53% Pb (Drillhole B)
2020-2021 Exploration: A Ag-Au-Pb-Zn-Cu-Sb mineralized system at Gold Mountain identified (see January 13, 2021 and January 4, 2022 news releases)
Five samples returning 1,000 to 6,670 g/t Ag
Eight samples returning 1,260 to 8,220 ppm Sb
The Property’s mineral-rich history dates back to the 1930s and includes impressive showings of gold, silver, copper, and lead within a trend that spans over 600 meters. Past work has revealed high-grade values across two primary showings, North and South, which are separated by approximately 450 meters of talus—a zone where mineralized boulders suggest continuity of mineralization between the two showings.
The South Showing covers an area of 160 by 50 meters and features five vein exposures in multiple trenches, where high-grade mineralization has previously been sampled, including values up to 30.3 g/t Au, 13,301 g/t Ag and 32.54% Cu (Allen, 1982 ). These veins trend toward the North Showing, which has been partially exposed by a shallow open cut and an old adit. Exploration during 1982 at the North Showing, near the adit, identified a 1 m wide quartz vein, which returned a grab sample of 4.87 g/t Au, 710 g/t Ag and 1.89% Cu indicating a rich polymetallic presence (Allen, 1982 ). Together, these showings form a mineralized corridor that remains open at both ends.
Eight shallow backpack style drill holes were completed in 1984 (Parr, 1984 ), though poor recoveries were noted, results include:
• 4.14 m – 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb
• 4.85 m – 29.99 g/t Au, 6,711.3 g/t Ag, 11% Cu, and 14.53% Pb
Samples collected in 2020 and 2021 confirmed the high-grade mineralization at both the North and South Showings, with five samples returning from 1,000 to 6,670 g/t Ag, and eight samples returning from 1,260 to 8,220 ppm Sb.
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Figure 1: Historical work overview on Gold Mountain Property
Recent claim additions opened a path for expanded exploration aimed at uncovering the full extent of mineralization along this trend.
High-level process overview, British Columbia:
Pre-application : Obtain Free Miner Certificate (if needed), register/stake mineral claims via Mineral Titles Online (MTO). Early engagement with First Nations recommended. Review guidance, prepare detailed mine plan, maps, reclamation/closure plan, environmental protections, and cultural heritage measures.
Submit Notice of Work (NoW) application : Online via FrontCounterBC/MineSpace for a regional Mines Act permit (also called exploration permit). Covers proposed activities, locations, protection programs. Fees apply. Site-specific or Multi-Year Area-Based (MYAB) options exist. Low-impact/non-mechanized activities (e.g., hand sampling, certain geophysical surveys, very small test pits under limits) may be exempt.
Government review : Intake/completeness check, technical review (compliance with Mines Act/Code), referrals to other agencies, First Nations consultation, possible public input, calculation of reclamation security (bond) using the Regional Reclamation Bond Calculator (site-specific, based on disturbance area, activities, etc.). Intake batching and processing timelines apply (improvements ongoing; fixed 40–140 day timelines by complexity start April 1, 2026).
Reclamation security (bond) posting : Required as a condition of permit issuance (per Mines Act s. 10(4)). Covers full estimated reclamation/closure costs if proponent defaults. Amount determined site-specifically via calculator/policy; adjustable for progressive reclamation or added disturbance. Held by province until successful reclamation/closure and release approved by Chief Inspector.
Permit issuance : Mines Act permit issued (with conditions, e.g., timelines, progressive reclamation, monitoring). Work can then commence. Annual Summary of Exploration Activities (ASEA) reporting required by March 31. Inspections, amendments for changes, and compliance with Code (Part 9 for exploration) apply.
Ongoing/closure : Progressive reclamation during operations. Upon completion/abandonment: full reclamation, site stabilization, reporting to request bond release.
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.
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 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.
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. Project timelines are highly dependent on future financing. 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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