Mr. Noah Komavli reports

ASHLEY GOLD CORP. UPDATES INVESTORS ON THE ICEFIELD OPTION, RECEIVES NOTICE OF EXECUTION

Ashley Gold Corp. has provided an update to the market on strategic portfolio developments.

President Noah Komavli: "We have and will continue to work closely with the optionee to ensure a smooth transaction, with the aim of unlocking value for both sides. The optionee has completed a work program on Vertebrae Ridge to maintain the claims in good standing and has also deployed a qualified person (QP) to the ground with the intention of generating a 43-101 tech report for the go-public process. Now, with receipt of the notice of execution, the optionee has further indicated their interest in securing the claims and working towards a completed transaction."

About the Icefield transaction

The Icefield portfolio is 100 per cent owned by Ashley Gold and previously the company announced the option exclusivity period and terms of the option agreement on June 5, 2026. The option agreement details the steps and milestones to be made by the optionee to secure 100-per-cent ownership of Ashley's interest.

Highlights as of Aug. 6, 2026:

• $25,000.00 in cash for option period exclusivity (paid);
• $50,000.00 in cash on exercise (to be paid);
• $1.3-million 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 (fulfilled);
• DGRM 2-per-cent NSR (net smelter returns) and conditions to be enforced.

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 Tak patents), Howie, Alto-Gardnar claims, as well as in British Columbia with the Icefield portfolio having two highly prospective claim packages, which are out under option.

We seek Safe Harbor.