Mr. Darcy Christian reports

ASHLEY GOLD CORP. CONCLUDES PHASE 1 DRILLING, PROVIDES ADDITIONAL UPDATES

Ashley Gold Corp. has provided operational updates from its concluded phase 1 diamond drilling program on the 100-per-cent-owned Tak patents.

Highlights:

• Core logging and cutting well under way;
• Five holes completed;
• TAK-26-01 assays pending.

President Noah Komavli said: "This first phase program was a success in terms of execution and metreage completed prior to spring breakup. It is important to highlight that only the crew has demobilized. The equipment remains ready for phase 2 execution following the melt. This pause in drilling will allow us to work towards completing logging and cutting, as well as give our team time to receive the interpreted IP data from the recently completed survey."

Drilling operation update

The following holes have been completed during phase 1 drilling:

• Pad 1, hole 1 (assays pending): undercut and step back from TAK-99-10; logging and cutting completed;
• Pad 2, hole 2: east fan on TAK-02-02; logging and cutting continuing;
• Pad 2, hole 3: west fan on TAK-02-02;
• Pad 3, hole 4: north hole to test undrilled zones under the historically worked trenches;
• Pad 4, hole 5: southern facing hole collared between TAK-99-10 and TAK-99-09, with the easternmost extent of the program at depth.

Core logging and assay update

Core logging and cutting are progressing at anticipated rates, with current focus on TAK-26-02. As disclosed, TAK-26-01 has been logged and cut, with assay results now pending.

National Instrument 43-101 disclosure

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

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 100-per-cent ownership in Santa-Maria, Burnthut (including the Tak patents), Howie and Alto-Gardnar claims, as well as in British Columbia with the Icefield portfolio having two highly prospective claim packages.

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