Mr. Noah Komavli reports

ASHLEY GOLD CORP. INTERCEPTS 0.53 G/T AU OVER 24M IN HOWIE MAIDEN DRILLING

A gold-bearing zone has been discovered on Ashley Gold Corp.'s 100-per-cent-owned (no NSR (net smelter return) royalty), Howie project, which borders Dynasty Gold's Pelham deposit.

President Noah Komavli stated:

"Our maiden Howie drill campaign has delivered results, with assays revealing near-surface gold grades typical of bulk-tonnage systems on just approximately 400 metres 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."

Howie project

Prior to the start of 2026, the company executed a small four-hole campaign designed to test the Twilight-Gap anomaly. Readers can recall that each of the four 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, channelling a high of 20.2 grams per tonne (g/t) gold (Au) over 0.8 metre (m) (May 26, 2025).

Later, the company channelled the Twilight zone, returning a weighted average of 0.624 g/t Au over 22.9 m (Sept. 22, 2025).

In early fall, the historical core from 1987 was located, cut and assayed, returning 0.33 g/t Au over 25.74 m in proximity to the Twilight zone (Oct. 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 (induced polarization) 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.

Project history

May, 1987:  Esso Minerals conducts a two-year program on Howie (known as Snake Bay). Historical drilling logs from 1987 detail wide zones of mineralization (assays redacted).

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*.

January, 2023:  planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by Dynasty Gold's Thundercloud project results

April, 2024:  secured exploration permit and Ontario junior exploration program funding, enabling advanced geophysical surveys and sampling

October, 2024:  completed IP survey over two kilometres (km) of lines to define 2025 drill targets for subsurface mineralization

March, 2025:  reviewed IP survey data, expanded the project by two claims and identified new targets along strike for further exploration

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 five to 10 m wide deformation zone; expanded strike with discovery of 1.6 g/t Au sample based on IP data*

September, 2025:  located the historical Esso core, channel sampling completed at the Twilight zone outcrop

October, 2025:  assays reveal 0.33 g/t Au over 25.74 m from historical hole 87-SB-03, with additional gold in proximity to the Twilight zone

December, 2025:  drilled 400 m of exploratory holes, intercepting 0.53 g/t Au over 24 m

Quality assurance/quality control

All samples were halved with a wet saw. Samples were then placed in prelabelled sample bags. Samples were securely couriered to ActLabs in Dryden, Ont., for 1A3 gold fire assay. Samples are dried and pulverized with subsequent random sample size of five to 50 grams. The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with silver (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 1,060 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 (dore bead) plus Au. Au is separated from the Ag in the dore 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.

National Instrument 43-101 disclosure

The technical information in this news release was prepared and reviewed by Shannon Baird, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Baird is exploration manager of Ashley Gold Corp., and is registered as a professional geoscientist with the Professional Geoscientists of British Columbia and Ontario.

Some results discussed in this news release are historical. Neither Ashley nor the qualified person has 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 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, Howie, Alto-Gardnar claims, as well as in British Columbia, with the Icefield portfolio having two highly prospective claim packages.

We seek Safe Harbor.