Ashley Gold Corp. Closes Final Tranche of Private Placement, Raising Over CDN$2 Million

CALGARY, ALBERTA — October 30, 2026 — Leads & Copy — Ashley Gold Corp. has successfully raised additional gross proceeds of CDN$631,275 in the second and final tranche of its non-brokered private placement, bringing the total aggregate gross proceeds from the offering to CDN$2,077,461.49. The first tranche closed on October 19, 2026.

Darcy Christian, Chief Executive Officer of Ashley, described the financing as the largest in the Company's history and a reflection of the quality of its assets, completed work, effective communication, and team alignment with shareholders. He expressed gratitude to both new and returning investors for their support as the company embarks on a new phase of its exploration strategy, emphasizing the role of drilling.

Noah Komavli, President of Ashley, stated that the financing provides sufficient capital to follow up on recent encouraging visual observations, expand the geological model, and work towards unifying identified gold-bearing zones at the Tak Project. Key upcoming catalysts include the receipt of recently completed LiDAR and closely spaced magnetic surveys, which will inform winter drill planning. The company is also awaiting pending assay results, including fire assay results, which will be reported to the market as they become available. Komavli characterized 2026 as a transformational year for the company, with 2027 anticipated to be equally exciting.

The final tranche of the offering included 6,635,000 non-flow-through units at CDN$0.065 per unit, raising CDN$431,275. Each non-flow-through unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant is exercisable at CDN$0.12 per share for 24 months. Additionally, 2,500,000 flow-through units were issued at CDN$0.08 per unit, generating CDN$200,000. Each flow-through unit comprises one flow-through common share and one-half of a common share purchase warrant. Each whole warrant is exercisable at CDN$0.15 per share for 24 months.

In total, the final tranche consisted of 9,135,000 units and 4,567,500 warrants. Proceeds from the flow-through units are intended for eligible Canadian exploration expenses qualifying as flow-through mining expenditures under the Income Tax Act (Canada), to be renounced to subscribers by December 31, 2026, with expenditures incurred by December 31, 2027.

In connection with the final tranche, Ashley Gold Corp. paid CDN$45,042 in cash finder's fees and issued 652,800 finder warrants. These warrants are exercisable for non-flow-through common shares at CDN$0.065 or CDN$0.08, as applicable, for 24 months.

Securities issued in the final tranche are subject to a hold period expiring March 1, 2027. The offering is pending final acceptance from the Canadian Securities Exchange.

Following the closing of the final tranche, Ashley Gold Corp. has 129,888,470 common shares issued and outstanding.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing prospective gold and polymetallic deposits in Canada's prominent mining regions. The Company's primary assets are located in the Dryden Area in Ontario, including Burnthut and the Tak Patents, Howie, and Alto-Gardner claims. Ashley also has an optioned Icefield Portfolio in British Columbia, comprising two claim packages.

Source: Ashley Gold Corp.