Mr. Noah Komavli reports

ASHLEY GOLD CORP. ENTERS INTO OPTION EXCLUSIVITY AGREEMENT FOR THE SALE OF THE ICEFIELD PORTFOLIO FOR MINIMUM CONSIDERATION OF $1.475 MILLION IN CASH AND EQUITY

Ashley Gold Corp. has provided a strategic update regarding its British Columbia portfolio.

Highlights:

• $25,000.00 in cash for option period exclusivity (to be paid);
• $50,000.00 in cash on exercise;
• $1,300,000.00 in equity within 12 months of exercise notice;
• $100,000.00 in cash on listing or readmission of a listed company;
• Option exclusivity period can be extended by three months with payment of $25,000.00;
• Optionee to fulfill upcoming work requirements;
• DGRM 2-per-cent NSR (net smelter return) and conditions to be enforced.

President Noah Komavli commented: "I am happy to deliver this update, realigning Ashley's focus back to the Eagle-Wabigoon belt, while maintaining significant equity ownership in a new company. The terms are simple and outlined above for full transparency. The transaction is quite lucrative to Ashley, allowing significant ownership of a new company or listed entity, as well as padding the assets side of our balance sheet. Over all, when completed, the transaction could result in an approximately 170-per-cent return based on our acquisition costs."

About the Icefield property

The Icefield portfolio was acquired by Ashley in March, 2025, for six million common shares, with a final payment of two million shares on the 12-month anniversary or on receipt of drill permit, whichever occurred first. The drill permit was received in early March, 2026, and the final shares issued. The net acquisition cost of the property in equity issued is $510,000.00 plus $33,768.00 in work completed, as per audited financials at 2025 year-end.

About the transaction

Ashley has entered into a 30-day option exclusivity period with the optioner for a consideration of $25,000, with the option to extend three months for an additional $25,000. On exercise notice the optioner will pay $50,000 with an additional $100,000 to be paid on listing or readmission of new company (NewCo) to an exchange. Within 12 months of option exercise Ashley will receive $1.3-million in equity of the NewCo. The optioner will be responsible for all costs related to management and work requirement of the claims from signing of the option exclusivity. The existing 2-per-cent net smelter royalty shall survive the exercise of the option and terms shall remain in full force and effect against the property thereafter.

All dollar amounts are in Canadian dollars and completion of agreement will be subject to regulatory approvals.

There are no shares of Ashley to be issued as part of the agreement and no finder fees payable to any parties.

The overall proposed transaction, at book value of equity, provides an approximate 170-per-cent return from original acquisition to complete disposition.

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 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.

We seek Safe Harbor.