Mr. Darcy Christian reports

ASHLEY GOLD CORP. ANNOUNCES HOWIE CORE CUTTING UPDATE, SETS NSR'S FOR HOWIE AND BURNTHUT MAIN BLOCK TO ZERO, DRYDEN AREA, ON, GRANTS OPTIONS

Ashley Gold Corp. has entered another value-added transaction related to the company's Dryden area assets.

Highlights:

• Howie core cutting has commenced in early January.
• Ashley Gold will issue 400,000 shares to set net smelter royalties from the project vendor to 0 per cent.
• Relevant projects include:
  • Howie project (0 per cent);
  • Burnthut Main block (0 per cent).
• Ontario projects with outstanding NSRs include:
  • Santa-Maria project (1.75 per cent);
  • Burnthut North block (1 per cent) and Burnthut Island (1 per cent);
  • Alto-Gardnar (0.5 per cent).

President Noah Komavli said: "This value-added transaction has many implications.

"We see great potential in our portfolio, and resetting the NSRs 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-per-cent 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 under way 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.

Ashley executed a four-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.

Burnthut Main block

The original Burnthut claims and the East block (acquisition date of March 18, 2025) will have the vendor NSR set to zero. A prior NSR will remain on Burnthut Island, two cells (1.0 per cent 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 includes the Wedge zone, a historic occurrence extending outside of the Tak patents, into the western edge of the Burnthut claims.

Acquisition of NSR

The proposed acquisition is arm's 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 four-month hold (7.5 cents 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 7.5 cents with a three-year expiry. The options are subject to a four-month-and-one-day hold. A total of 1.5 million 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.

National Instrument 43-101 disclosure

The technical information in this news release was prepared and/or reviewed by Darcy Christian, PGeo, 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-arm's length of the company, and serves as director and chief executive officer.

Some results discussed in this document are historical. Neither Ashley Gold nor the qualified person has 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 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-per-cent ownership in Santa-Maria, Burnthut, 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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