Ashley Gold Corp. Provides Update on Icefield Portfolio Developments and Optionee Progress

CALGARY, ALBERTA — August 6, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has provided a market update on strategic portfolio developments, notably concerning its Icefield Portfolio. The company announced that an optionee has completed a work program on Vertebrae Ridge to maintain the claims in good standing and has deployed a Qualified Person (QP) to generate a 43-101 technical report for a go-public process. This move indicates the optionee's continued interest in securing the claims and advancing towards a completed transaction.

The Icefield Portfolio, which is 100% owned by Ashley Gold Corp., was subject to an Option Agreement announced on June 5, 2026. This agreement outlines the steps and milestones the optionee must achieve to gain 100% ownership of Ashley's interest in the portfolio.

Key highlights of the agreement as of August 6, 2026, include $25,000.00 in cash paid for option period exclusivity. Upon exercise, the optionee is set to pay an additional $50,000.00 in cash, followed by $1,300,000.00 in equity within 12 months of the exercise notice. A further $100,000.00 in cash is due upon the listing or re-admission of a listed company. The option exclusivity period can be extended by three months with a payment of $25,000.00. The optionee has also fulfilled upcoming work requirements. Additionally, a DGRM 2% Net Smelter Return (NSR) royalty and associated conditions are to be enforced.

Ashley Gold Corp. is a Canadian mineral exploration company that focuses on acquiring and developing prospective gold and polymetallic deposits within Canada's prominent mining regions. The company's primary assets include the Burnthut (including Tak Patents), Howie, and Alto-Gardnar claims in the Dryden Area of Ontario, and the Icefield Portfolio in British Columbia, which consists of two prospective claim packages currently under option.

Further information on Ashley Gold Corp. is available on SEDAR+ and the company's website.

Source: Ashley Gold Corp.