Ashley Gold Corp. Announces Howie Core Cutting Update, Sets NSR's for Howie and Burnthut Main Block to Zero, Dryden Area, ON, Grants Options

Highlights:

• Howie core cutting has commenced in early January

• Ashley Gold Corp. will issue 400,000 shares to set NSR's from project vendor to 0%

• Relevant projects include;

  • Howie Project (0%)

  • Burnthut Main Block (0%)

• Ontario projects with outstanding NSR's include;

  • Santa-Maria Project (1.75%)

  • Burnthut North Block (1%), Burnthut Island (1%)

  • Alto-Gardnar (0.5%)

President Noah Komavli;

"This value-added transaction has many implications.

We see great potential in our portfolio and resetting the NSR's to zero will make these projects increasingly attractive as we continue to advance them through exploration efforts. Additionally, in the event of streamlining our portfolio, this transaction opens the door to Ashley retaining a NSR.

The whole Howie project will have a 0% NSR and so will the main claims at Burnthut, on strike of the recently acquired Tak Patents.

I want to thank the vendor for their continued interest and long term view of Ashley Gold Corp.

We are also pleased to provide some more visuals from the Howie core cutting. Drilling has unveiled mineralization that is obscured by overburden on the surface."

Impacted Properties:

Howie Project:

The Howie project was recently drilled in late 2025, with core cutting underway and assays soon to be pending. Howie borders Dynasty Gold's Thundercloud Project, which hosts the Pelham Deposit, currently modelled as an open pit, high-grade intrusive project in quartz feldspar porphyry ("QFP").

Ashley executed a 4 hole campaign to test the Twilight-Gap anomaly, an area of coinciding resistivity and chargeability that was never drilled historically. Ashley intersected various lithologies, including; gabbro, breccia flows, quartz veins, QFP, shear zones and carbonate breccia. The presence of these systems confirms significant geological events and fluid movement through the property.

HL-25-01:

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Image 1: Example Mineralization, QFP (trace <1cm wide quartz stringers with trace pyrite) trending into Carbonate Breccia (21.8m of Carbonate Breccia into EOH)

HL-25-02:

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Image 2: Example Mineralization - Shear Zone (93.5m) to Quartz Veining (93.5 to 99.2 m) to Shear Zone (EOH)

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Image 3: Hole 2 Example Mineralization

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Image 4: Example Mineralization - Trace Disseminated Sulphides in Shear Zone

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Image 5: Example Mineralization in Core

Burnthut Main Block:

The original Burnthut claims and the East Block (see project map from acquisition date of March 18, 2025) will have the vendor NSR set to zero. A prior NSR will remain on Burnthut Island, 2 cells (1.0% with buyback conditions).

The Tak Patents and the Burnthut Main Block are located adjoining and along strike of NexGold Mining Corp.'s Goliath Gold Complex, and part of the claims include the Wedge Zone, a historic occurrence extending outside of the Tak Patents, into the Western edge of the Burnthut Claims.

Image 6: Historic Hole Tak-99-06, showing near surface mineralization, 500 m east of Tak boundary

Acquisition of NSR:

The proposed acquisition is arms length.

The proposed acquisition is contemplated as follows and remains subject to all exchange and regulatory approvals:

• 400,000 common shares issued subject to a 4 month hold ($0.075 per share).

Options

As part of the company's option plan, management, directors and contractors of the company have been issued options at a price of $0.075 with a three year expiry. The options are subject to a 4 month and 1 day hold. A total of 1,500,000 options have been issued.

The company also announces that its Board has also approved the cancellation of 925,337 options. No options for management or directors were cancelled.

NI 43-101 Disclosure
The technical information in this news release was prepared and/or reviewed by Darcy Christian, 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-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. 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.

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 Santa-Maria, Burnthut, 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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