Mr. Noah Komavli reports

ASHLEY GOLD CORP. RECEIVES PERMIT FOR THE HIGH-GRADE ALTO-GARDNAR PROJECT, DRYDEN, ONTARIO

Ashley Gold Corp. is providing an operational update related to its Alto-Gardnar project.

Highlights

• Permitted for up to 13 pads, line cutting and IP surveys.

President Noah Komavli said: "The Alto-Gardnar project has seen significant historical surface work and limited drilling. Prior operators looked at the system as a low-grade, bulk ton target. Given our high-grade findings in the fall 2025 channelling program, which included 130 grams per tonne gold over one metre, this project warrants further attention and scout drilling to probe the high-grade zone at depth. The pairing of the permitted IP survey will allow efficient exploration and greater resolution outside the stripped area."

Chief executive officer Darcy Christian on the recent permit: "We have reached a significant milestone in our portfolio, with every Ontarian project now permitted, and our B.C. portfolio partially permitted with Vertebrae Ridge being the only project pending issuance. This gives our company a unique edge and increased flexibility in terms of future planning. We will now also look at expanding our permit at the Burnthut to include IP lines outside the Tak patents."

Alto-Gardnar project

Project history -- Alto project

1937:

Gold discovered at Alto-Gardner by l.W. Alto and W. Gardnar (Berger, 1989).

1940:

Sandybeach Lake syndicate; stripping, trenching, bulk sampling, including 125-ton bulk sample from an open cut with a reported grade of 0.231 ounce per ton (opt). In 1943, Satterly (in Berger, op.cit.) reported the bulk sample ran 0.081 opt, although the discrepancy between the two values is unresolved.

1982:

Ground restaked by K. and M. Bernier, who cut a grid and conducted a ground VLF survey, in addition to resampling historic trenches (in Berger, op.cit.).

1983:

Report highlighting a strong northeast-southwest striking quartz vein system in Keewatin greenstone intruded by quartz porphyry, with favourable geology for gold mineralization similar to nearby deposits. The main vein extends over 1,000 feet with widths up to 24 feet, showing visible gold, pyrite, chalcopyrite and commercial assays up to 0.37-ounce-per-ton gold (report, 1983).

1986:

Loydex Resources Inc. flew airborne magnetometer and EM survey over the area including the Alto-Gardnar shear zone (Terraquest, 1987).

1995:

Champion Bear Resources drilled four diamond drill holes on the Alto-Gardnar property (Pryslak and Sears, 1995).

2006:

Gossan Resources conducted a field program involving 340 metres of mechanical stripping, detailed geologic mapping, channel sampling of 273 samples, prospecting and MMI soil sampling to define the structural controls and extend the shear zone. Results revealed anomalous gold values up to 9.69 g/t primarily in sheared mafic volcanics with quartz stringers and alteration, alongside identification of potential shear extensions up to 2.3 kilometres northeast. Conclusions highlight two styles of gold mineralization -- in quartz veins and shear zones -- recommending reassaying for nugget effects, petrographic analysis and drilling to further evaluate the property's potential.

October, 2022:

Ashley acquires the Alto-Gardnar project.

May, 2024:

Ashley Gold discovers new vein at Alto-Gardnar asssaying 106 g/t Au.

November, 2025

Ashley Gold channels the high-grade zone, cutting 130 g/t Au over 1.0 m.

43-101 disclosure

The technical information in this news release was prepared and reviewed by Darcy Christian, chief executive officer, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Christian is non-independent of Ashley Gold. Some results discussed in this document are historical. Ashley nor the qualified person have performed sufficient work or data verification of the historical data.

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 (including the Tak patents), Howie, Alto-Gardnar claims, as well as in British Columbia with the Icefield portfolio having two highly prospective claim packages.

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