(via TheNewswire)
CALGARY, ALBERTA - May 1, 2026 - TheNewswire - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley ” or the “Company ”) is pleased to share visuals and operational updates from its concluded Phase 1 diamond drilling program on the 100% owned Tak Patents.
Highlights:
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Figure 1: Regional Map and Area of Activity
President Noah Komavli; “Equipment remains ready for Phase 2 execution following the winter 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. As investors may know, I was on site for the completion of hole 2 cutting, as well as delivery of the halved core to ActLabs Dryden - example mineralization is highlighted below.”
Exploration Manager Shannon Baird on TAK-26-02: “The bottom of TAK-26-02 displayed a pervasive green sericite-chlorite alteration, brecciation, and quartz veining accompanied by an increased sulphide content, all of which could potentially indicate a higher degree of interaction with hydrothermal fluids. Hole 2 was our deepest and farthest north hole giving us more confidence to test beyond this in Phase 2. ”
Drilling Operation Update
The following holes have been completed during Phase 1 drilling. With 3 holes still to be cut to completion and submitted for fire assay.
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Table 1: Drilling Location Data
Core Logging and Assay Update
Core logging and cutting is progressing at anticipated rates, with current focus on TAK-26-03. As disclosed, TAK-26-01 and TAK-26-02 have been logged and cut, with assay results now pending. TAK-26-02 cutting was completed on Wednesday April 29, 2026 and subsequently delivered to ActLabs Dryden by Company management.
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Image 1: Noah Komavli, Darcy Christian, and Shannon Baird with TAK-26-05
TAK-26-02 Visuals
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Image 2: Hydrothermal Pyrite and Magnetite
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Image 3: Quartz, Pyrite, and Magnetite in QFP
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Image 4: Green Sericite-Chlorite Alteration with Quartz Vein
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Image 5: Example Mineralization and Alteration – Pyrite-Chlorite Veinlet (15-20 degrees to core)
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Image 6: Example Mineralization - Pyrite Cube in Quartz Veinlet
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Image 7: Example Mineralization ~125.5m Downhole - in Quartz Carbonate Veinlet
Clarification to April 28, 2026 Release
The Company wishes to address a small error in the prior press release. All shares and cash were received as of April 28, 2026, not 2028.
The ticker of the acquisition company is (AIM:RHR) , shareholders are invited to follow along with their updates as they continue to work the property.
In addition to the disclosure provided on April 28, 2026, the Company wishes to add that the shares have been issued, but are subject to rolling unlock dates every 6 months, starting October 15, 2026. The next tranche unlocks April 15, 2027 and the final tranche is October 15, 2027. Each tranche is approximately $100,000.00 CDN in book value as of the date of issuance.
All other figures remain as presented.
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
NI 43-101 Disclosure
The technical information in this news release was reviewed and approved 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 Ontario as well as the Engineers and Geoscientists of British Columbia.
*Management cautions that core visuals are selective in nature to begin with and is not representative of the hole in its entirety or indicative of any grade overall. Assay results are pending and visual identification of minerals does not guarantee economic grades. These preliminary visual observations are awaiting laboratory confirmation.
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, and 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 Komavli”
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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