Mr. Noah Komavli reports

KOMAVLI FILES EARLY WARNING REPORT IN RESPECT OF ASHLEY GOLD CORP., ACQUIRES ADDITIONAL SHARES FOR 19.8% HOLDING

Ashley Gold Corp.'s president, Noah J. Komavli, has filed an updated early warning report pursuant to National Instrument 62-103, in connection with a transaction that resulted in a 2-per-cent change from April 24, 2026, reporting.

Mr. Komavli on the update: "My increased exposure is a statement of my personal belief in the company, our people and our current project pipeline. With drilling equipment in position and no shortage of targets to test on the Tak, a fully permitted portfolio, no debt, as well as the potential to strengthen our book value from completing the recently announced disposition of non-core assets -- I truly believe that Ashley is a diamond in the rough of the junior landscape. With pending assays from both phase 1 and phase 2 drilling, this positioning reflects my conviction in what I see as a valuation disconnect."

Ownership

Mr. Komavli, through direct ownership and through the control and direction of 1000903966 Ontario Inc., holds a total of 17,129,150 common shares, representing approximately 19.8 per cent of the company's common share free-trading float.

In addition, Mr. Komavli holds the following unexercised securities of the company:

• Options: 600,000 (direct);
• Warrants: 759,375 (1000903966 Ontario) and 2,106,250 (direct).

On a fully diluted basis, 20,594,775 of 118,894,980 fully diluted shares are under the control and direction of Mr. Komavli. This represents a 17.3-per-cent control over all securities. No options or warrants are expiring within 60 days.

The early warning report will be filed on SEDAR+ under the company's profile. For further information or to obtain a copy of the report, please contact the company.

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 the Burnthut (and the Tak patents), Howie and Alto-Gardnar claims. In British Columbia, the company has optioned out the Icefield portfolio, which includes two highly prospective claim packages.

We seek Safe Harbor.