Ashley Gold Corp. Reports High-Grade Gold Discovery and Positive IP Results at Tak Project

CALGARY, ALBERTA — June 25, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: “ASHL”) announced significant exploration updates for its Tak Project, highlighting a new high-grade gold discovery at the Northern Trench Zone (NTZ) and positive results from its Induced Polarization (IP) survey. The company received 31 grab samples from initial prospecting, with the NTZ returning the highest assay in the project's and the company's history.

The completed IP report identified a secondary resistive trend extending east into the Wedge Zone, located on mining claims held by Ashley Gold with no Net Smelter Return (NSR) obligations. Prospecting activities north-west of the 67Z zone have also been completed, with 39 new samples pending analysis.

Ashley Gold's President, Noah Komavli, commented on a 398 g/t Au grab sample from the NTZ. He noted that this area has no historic drilling but featured deep trenches dug by early prospectors, suggesting a missed potential overlooked by prior operators like Cominco and Triex. The IP report indicates a strong gold index coinciding with a significant chargeability response in the NTZ. Future Phase 3 drilling will prioritize step-outs and testing NTZ targets.

CEO Darcy Christian stated that the IP report delineates trends extending onto the Tak Patents, including the historically worked Wedge Zone on Ashley's claims. Multiple zones also trend west onto NexNexGold’s Goliath-Gold Complex mining claims. Ashley has yet to drill in these IP-recommended areas, as its Phase 1 and Phase 2 programs focused on lines 500 and 250 respectively. With substantial gold results from the D99Z zone already returned, the company anticipates submitting recent core samples from the 67Z zone.

Exploration around the NTZ has uncovered compelling mineralization, including a brecciated quartz vein with sulphides. Specific samples from this area returned grades of 43.9 g/t Au (Sample 340170) and 9.180 g/t Au (Sample 340171). Other samples from the NTZ wall rock assayed 1.310 g/t Au and 0.247 g/t Au.

The Tak Project, situated northeast of the Goliath Gold Complex, has a history of intermittent exploration dating back to the early 1900s by companies such as Lac Minerals (Barrick) and Cominco (Teck). Within the patented boundary, only 11 historic drill holes have been recorded by two operators in 1999 and 2002. After 2002, the project remained idle until Ashley Gold acquired it in 2026. Shortly after acquisition, Ashley commissioned the first modern IP survey, which revealed a +1km resistive body with chargeable units flanking it.

Ashley engaged 518 Drilling Ltd. for its winter drilling campaign. Three high-priority zones have emerged: D99Z, where a 5-hole Phase 1 program successfully validated and expanded historic results, showing a surface mineralization width of 100m; 67Z, an area with historically significant intercepts including 3.08 g/t Au over 7.57 m from 2002 drilling, which Ashley's Phase 2 program targeted with three holes; and NTZ, characterized by numerous trenches up to 2m wide and 60m long, with no prior drilling, but now yielding a new high-grade zone assaying up to 398 g/t Au.

The company's history at the Tak Project includes acquiring 100% ownership of the Tak Patents in January 2026, followed by operational readiness for winter drilling and engagement of Abitibi Geophysics for an IP survey in February 2026. Interim IP data in March revealed a 1 km resistive trend. Phase 1 drilling occurred in April-May 2026, with assays in May and June confirming and validating near-surface mineralization in the D99Z zone. Specifically, TAK-26-01 returned 1.104 g/t Au over 28 m, TAK-26-02 yielded multiple gold intervals including 0.586 g/t Au over 34.2 m, and TAK-26-03 reported multiple gold intervals including 2.347 g/t Au over 4.35 m.

Technical information in this release was prepared and/or reviewed by Darcy Christian, P.Geo., CEO and Director of Ashley Gold Corp., and a Qualified Person. The company cautions that some results discussed are historical and may not be reliable, but believes they indicate the project's potential. Grab samples are selective and not representative of the property's overall grade.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing gold and polymetallic deposits in Canada. Its flagship assets are in the Dryden Area, Ontario, including the Tak Patents. The company also has options on the Icefield Portfolio in British Columbia.

Source: Ashley Gold Corp.