Ashley Gold Corp. Announces Mobilization of Rodren Drilling Ltd. to the 100% Owned Howie Project, Dryden, ON

As of yesterday, the trail brushing crew had arrived on site, clearing an existing trail to the proposed pad locations. Today, the drill will arrive on site and the company expects the first hole to be started in the afternoon.

President Noah Komavli on the raise;

"By taking a measured approach to exploration and capital allocations, Ashley has prepared for these exciting activities. Furthermore, on closing of our second tranche, funds can be used to follow up on these results, or to conduct scout drilling on one of Ashley's additional high priority targets.

Having located the 1987 Esso core this summer, the company confirmed a historic discovery South of the Twilight Zone. Now, we will follow up with a diamond drill fence to test the collision of a carbonate breccia system with the East Fault. An area that has never been drilled.

Modelling of the historic holes over the IP data shows a clear trend; the historic work completed in the 1980's misses main IP targets. Additionally, and perhaps most significantly, these historic holes consistently intercepted anomalous gold, even outside of the main target zone.

This is very promising for us, and suggests that Esso Minerals was on the right track. Now, we will pick up where they left off and finally drill test an area of coinciding chargeability and resistivity, with the best implied gold index.

Results will directly inform next steps, with additional targets in the broader property that are yet to be followed up on. South east of this main IP grid, additional anomalies have emerged that will require the same follow up, pending results from this campaign."

Howie Program Update

Click Image To View Full Size

Image 1: Equipment Along the Snake Bay Road

Click Image To View Full Size

Image 2: December 2025 Proposed Pad Locations, Apparent Chargeability and Historic Holes

The Howie Project is an intrusive gold project bordering Dynasty Gold's Pelham project to the west. Over the spring and summer, the company executed a small stripping campaign on the Main Katisha zone, channeling a high of 20.2 g/t Au over 0.8m (May 26, 2025).

Later, the company channeled the Twilight Zone, returning a weighted average of 0.624 g/t Au over 22.9m (September 22, 2025).

In early fall, the historic core from 1987 was located, cut and assayed, returning 0.33 g/t Au over 25.74m in proximity to the Twilight Zone (October 14, 2025).

Due to the complex mineralization and wide spread gold occurrences, the company has proposed a low cost drill program for additional data collection using oriented core.

The targets were selected using the IP survey data commissioned in 2024, with results received in 2025. The 2025 drill program will target the highest gold index, along a trend of coinciding chargeability and resistivity, now dubbed the "Twilight-Gap Zone".

With a max proposed meterage of 550m, this program is highly capital effective.

Click Image To View Full Size

Image 3: Detailed December 2025 Proposed Pad Locations, Apparent Chargeability and Historic Holes

FINANCING TERMS AND USE OF PROCEEDS

On November 13th 2025, the company announced a non-brokered private placement financing (the "Offering") for aggregate proceeds of up to $530,000 (CDN) to advance exploration on Ashley's Ontario and British Columbia gold properties, as well as for general working capital.

The Offering consists of a Non-Flow-Through (NFT) Unit at a price of $0.075. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each full warrant is exercisable for one non-flow through common share, at an exercise price of $0.12 for a term of 24 months after the closing ("Closing Date").

The Offering also consists of a Flow-Through (FT) Unit at a price of $0.095. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each full warrant is exercisable for one non-flow through common share, at an exercise price of $0.15 for a term of 24 months after the closing ("Closing Date").

On November 27th, 2025 the company closed the first tranche for gross proceeds of $265,237.56.

The company anticipates closing the second tranche on the week of December 15th 2025.

THE EXISTING SHAREHOLDER EXEMPTION AND INVESTMENT DEALER EXEMPTION

The Offering will be made available to existing shareholders of the Company who, as of the close of business on November 13, 2025, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in B.C. Instrument 45-534 - Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada. The existing shareholder exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the existing shareholder exemption exceeding the maximum amount of the financing, the Company intends to adjust the subscriptions received on a pro rata basis.

The Company has also made the Offering available to certain subscribers pursuant to B.C. Instrument 45-536 - Exemption Form Prospectus Requirement for Certain Distributions Through an Investment Dealer. In accordance with the requirements of the investment dealer exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.

The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

Project History - Howie Property

May 1987:

Esso Minerals conducts a two year program on Howie (known as Snake Bay). Historic drilling logs from 1987 detail wide zones of mineralization. Assays redacted. Data Link

November 2022:

Initial surface prospecting and sampling at Main Katisha Shear Zone yielded assay results up to 52.80 g/t Au, validating the zone's gold potential*. News Link

January 2023:

Planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by Dynasty Gold's Thundercloud Project results. News Link

April 2024:

Secured exploration permit and Ontario Junior Exploration Program funding, enabling advanced geophysical surveys and sampling. Junior Mining Network, April 2, 2024

October 2024:

Completed induced polarization (IP) survey over 2 km of lines to define 2025 drill targets for subsurface mineralization. News Link

March 2025:

Reviewed IP survey data, expanded the project by two claims, and identified new targets along strike for further exploration. News Link

May 2025:

Conducted mechanical stripping, outcrop washing, and channel sampling at Katisha Zone, with channel cut assay results up to 20.2 g/t Au, confirming continuity of gold mineralization in a 5-10m-wide deformation zone. Expanded strike with discovery of 1.6 g/t Au sample based on IP data*. News Link

September 2025:

Located the historic Esso core, channel sampling completed at the Twilight Zone outcrop. News Link

NI 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.

*Assays are historic in nature and do not comply with 43-101 standards. The assays provided in the image can be found here.

**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 focussed 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 Burnthut, Howie, Alto-Gardnar and Santa-Maria 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."

Copyright (c) 2025 TheNewswire - All rights reserved.