(via TheNewswire)

CALGARY, ALBERTA - April 2, 2026 - TheNewswire - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley ” or the “Company ”) is pleased to share an operational update related to its pending drill program.

Highlights:

• Drill trails complete, 10 pad locations cleared to support first and second phase programs, 

• Timberjack skidder and a diamond drill rig, capable of +500m holes, deployed to the Tak Patents, 

• Equipment will remain in place until next Winter or longer, as needed.  

CEO Darcy Christian; “With the support of our dedicated team, local stakeholders and the drive of 518 Drilling Ltd., we have cleared trails in and across the patents. Numerous pads have been cleared at 50m spacings along the edge of the resistive body. Equipment has successfully arrived from the stage point, ready to be engaged.

We anticipate the drill turning as a crew frees up from another site following the Easter long weekend, with a possible start date looking like mid-late next week. We will keep our investors informed and share further Corporate updates as they become available. ”

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Figure 1: Regional Claim Map - Tak Patents Comprise the South-Western Portion of the Burnthut Project

Equipment Staging

President Noah Komavli; “Having this equipment secured on the Tak Patents and available for a minimum of one year gives Ashley an unparalleled advantage in the sector. Without the strong relationships management has built - as well as the shared vision of 518 Drilling’s President, Kevin Norberg, we would not be in this fortunate position to deliver results continually to our investors. Our near and mid-term focus will now be the exercise of delineation - along strike and contiguous to the most advanced project in the district, NexGold’s Goliath-Gold project!”

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Figure 2: Equipment Arriving at Stage Point

518 Drilling Ltd.’s President, Kevin Norberg on the program; “I am excited at the upcoming drill program and pleased to have partnered with the Ashley Gold team to work on this project. 518 Drilling is aligned to Ashley’s core values and has worked with the team on prior exploration efforts. We look forward to a successful starter program, as both the service provider and a shareholder.”

Field Pictures

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Figure 3: Dozer Leveling for Drill Access, QFP Iron Staining

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Figure 4: Additional Iron Stained Example

Project Overview: Burnthut & Tak Patents

The Company holds a 100% stake in the Burnthut Project, which is composed of 83 mining claims, 6 patents and 1 mining license of occupation for 1,900 ha. The Burnthut project is strategically situated against the north-east of the Goliath-Gold complex, operated by NexGold Mining Corp. Recently, Kenorland Minerals Ltd. has staked against the Burnthut’s southern boundary. The Tak patents were formerly owned and worked by Lac Minerals (Barrick). A 5% NSR with a 2.5% buyback for $1 million is held by Royal Gold Inc., limited to the Tak boundary. The Burnthut main block has no outstanding NSR’s, which includes claims along strike of the Tak and covering the Wedge Occurrence.  

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Figure 5: IP Survey Extent in the Tak Patents - Burnthut Property

Interim 2D IP Data

On February 10th, 2026 the Company announced the engagement of Abitibi Geophysics for the deployment of their 3D OreVision system over Ashely’s 100% owned Tak Patents. On February 16th, 2026, the crew began mobilization to site. Line cutting preceded the installation of the surficial wires required for the readings.

On March 10th, 2026, the crew completed the line readings, with de-mobilization occurring on March 11th, 2026. 19.5km of production lines were run, with the Eastern most extent of the Tak Patents being excluded from data acquisition. This area will be the target of a future program once the mining claims comprising the Burnthut Project are brought into a permitted status, avoiding short IP lines limited to the Eastern patent boundary.

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Figure 6: Preliminary Surficial Resistivity & Historic Drill Holes

The surficial interim results highlight a 1km resistive trend at surface, aligning well with the historic drill hole data. Due to the age of the holes, the company will be required to twin the collars to bring the values into compliance.

The drill collar of TAK-99-10 was located and the GPS coordinates of the historic work was confirmed as accurate. This hole has a historic assay of 2.08 g/t Au over 31.8m, starting from the surface, using a 1.0 g/t Au cut-off.

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Figure 7: TAK-99-10 Collar Located

References

Property MDI Link: https://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI000000002119.html

*Wedge Zone assays: https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52G13NW2001/52G13NW2001.PdF

Triex logs (Tak-99 holes):

https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52G13NW2002/52G13NW2002.Pdf

Southern Rio logs (Tak-02 holes):

https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-documents/assessment/52F16NE2006/52F16NE2006.Pdf

43-101 Disclosure

The technical information in this news release was prepared and reviewed by Darcy Christian, CEO, 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-independent of Ashley Gold Corp.

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.

*Management cautions that grab samples are selective in nature, and the assay results may not necessarily 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 (including 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. 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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