(via TheNewswire)

CALGARY, ALBERTA – TheNewswire - March 19, 2026 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley ” or the “Company ”) is pleased to announce that a gold bearing zone has been discovered on its 100% owned (no NSR), Howie Project, which borders Dynasty Gold’s Pelham deposit.

President Noah Komavli;

“Our maiden Howie drill campaign has delivered results, with assays revealing near surface gold grades typical of bulk tonnage systems on just ~400m of drilling. This follows from our surface channels in the summer of 2025, which revealed similar weighted average grades southeast of the drilled area.

This discovery is significant - the gold grades are associated to a hydrothermal breccia system, unmapped on the surface. Unfortunately, this hole terminated in mineralization above cut-off thresholds of 0.3 g/t Au. A follow up hole would be required to get a true width of the mineralized zone.

Our near-term focus remains on exploring the Tak Patents of the Burnthut Project, with the Howie claims in good standing for a number of years. Follow up work can occur as capital allows, with road access and permits in good standing. ”

HL-25-01:

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Image 1: HL-25-01 Zone of Interest - Carbonate Breccia Assaying 0.53 g/t Au over 24m

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Image 2: Example Section of the Brecciated Zone

Howie Project

Prior to the start of 2026, the Company executed a small 4 hole campaign designed to test the Twilight-Gap anomaly. Readers can recall that each of the 4 holes returned varying lithologies. HL-25-01 delivered the headlines result, drilled on the edge of the chargeable and resistive body. The other holes returned trace values of gold and provided valuable data collection on lithologies in the area.

Over the spring and summer, the company executed a small stripping campaign on the Main Katisha Zone, channeling a high of 20.2 g/t Au over 0.8m (May 26, 2025).

Later, the company channeled the Twilight Zone, returning a weighted average of 0.624 g/t Au over 22.9m (September 22, 2025).

In early fall, the historic core from 1987 was located, cut and assayed, returning 0.33 g/t Au over 25.74m in proximity to the Twilight Zone (October 14, 2025).

Due to the complex mineralization and widespread gold occurrences, the company proposed a low cost drill program for additional data collection using oriented core.

The targets were selected using the IP survey data commissioned in 2024, with results received in 2025. The 2025 drill program probed the highest gold index, along a trend of coinciding chargeability and resistivity, now dubbed the “Twilight-Gap Zone”.

Core will be securely transported to Ashley’s shipping container for storage. Sections of the core that were not assayed will be reviewed by members of the team following the Tak drilling.  

Table 1: Assay Results in Interval of Interest - HL-25-01

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Image 3: Drill Locations (HL-25-01)

Project History

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. Junior Mining Network, April 2, 2024

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 the historic Esso core, channel sampling completed at the Twilight Zone outcrop. News Link

October 2025:

Assays reveal 0.33 g/t Au over 25.74m from historic hole 87-SB-03, with additional gold in proximity to the Twilight Zone.  

December 2025:

Drilled 400m of exploratory holes, intercepting 0.53 g/t Au over 24m.

Quality Assurance / Quality Control

All samples were halved with a wet saw. Samples were then placed in pre-labelled sample bags. Samples were securely couriered 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.

NI 43-101 Disclosure

The technical information in this news release was prepared and reviewed by Shannon Baird, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Baird is Exploration Manager of Ashley Gold Corp. and registered as a Professional Geoscientist with the Professional Geoscientists of BC and Ontario.

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. *Grab samples are selective in nature and may not 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, 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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