Ashley Gold Corp. Updates on Ongoing Exploration Activities, Highlights Phase 1 and Phase 2 Progress

CALGARY, ALBERTA — June 9, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) provided a comprehensive update on its ongoing exploration activities, reporting that two holes from its Phase 1 program are awaiting assays, with results expected soon. The company has also completed four holes of its Phase 2 program, with logging and cutting to begin this week.

Ashley Gold Corp. announced the discovery of additional outcrop east of the 67Z zone, which is slated for drilling in a Phase 3 program. Furthermore, results are pending for thirty-two samples collected during recent prospecting efforts.

The Phase 2 program included one exploratory hole positioned between the D99Z and 67Z zones, and three holes on line 250 in the vicinity of the 67Z. One of these holes was a twin of two holes drilled in 2002 that initially identified the zone. The other two were step-out holes drilled to the south, collecting data on lithologies and dip.

Initial visual observations from the 67Z holes revealed stockworks in quartz-feldspar porphyry (QFP), potassic alteration, and some of the highest sulphide content encountered to date on the Tak property. Logging and assays are expected to confirm these early field observations.

“We continue to be impressed by the scale and variety of mineralization present on the Tak patents,” stated CEO Darcy Christian. “We are only 9 holes deep into a modern dataset, and most discoveries take significantly more meterage. By leveraging the data from the 11 historic holes, we are ahead of the curve in terms of what to look for.”

Christian added that the system is complex, with likely multiple phases contributing to the observed mineralization. As understanding of the system refines, the company anticipates greater clarity on the geological events leading to gold deposition. With 32 grab sample assays pending from prospecting, the upcoming Phase 3 program will focus on stepping out in all directions from 67Z, including the Northern Trench Zone (NTZ) and east and west of 67Z to explore strike extent.

**Tak Project Background**

The Tak Patents, situated adjacent to the Northeast of the Goliath Gold Complex, have seen intermittent exploration since the early 1900s, with notable companies like Lac Minerals (Barrick) and Cominco (Teck) conducting exploration in the area. While at least two surveys were flown and detailed mapping occurred in the late 1900s, only 11 historic drill holes from two operators were recorded within the patented boundary in 1999 and 2002. The project remained idle for 24 years following 2002 before its acquisition by Ashley Gold Corp.

In early 2026, shortly after acquisition, Ashley commissioned its first modern IP survey, which identified a +1km resistive body with two main chargeable units to the north. The company engaged 518 Drilling Ltd., and based on historic records and Phase 1 drilling results, three high-priority exploration zones have emerged: D99Z, 67Z, and NTZ.

The D99Z zone, where a 5-hole Phase 1 program in early 2026 validated and expanded upon 1999 results, has an estimated surface mineralization width of over 80 meters, with two holes still pending assays.

The 67Z zone includes historic intercepts from 2002, such as TAK-02-06 (3.08 g/t Au over 7.57 m) and TAK-02-07 (3.18 g/t Au over 8.7 m). Ashley deployed three holes in Phase 2 drilling to target this zone for lithological and dip data.

The NTZ consists of five trenches, up to 2 meters wide, 2 meters deep, and some as long as 60 meters. While there are no recorded drill holes in this area, extensive trenching suggests significant historical work. Ashley has 32 grab samples pending from the NTZ, and Phase 3 drilling will include testing these zones with no historic drill records.

**Phase 2 Visuals and Prospecting**

Visuals from Phase 2 drilling at 67Z show potassic altered QFP and stockworks. Prospecting east of the 67Z, along a potential strike extent, has revealed silicified rock with sulphide content, identified as a high-priority target for Phase 3 drilling.

**Tak History**

Exploration on the Tak Patents dates back to the 1940s with Long Lac Minerals, followed by Cominco in the 1980s. Triex Resources drilled 10 holes in 1998-1999, with TAK-99-10 returning 2.082 g/t Au over 31.83 m. Southern Rio Resources optioned the property in 2002 and drilled 8 holes, outlining gold mineralization over approximately 350 meters of strike length to a depth of 100 meters.

Ashley Gold Corp. acquired 100% ownership of the Tak Patents in January 2026. Since then, the company announced operational readiness for a winter drilling campaign, engaged Abitibi Geophysics for an IP survey, and provided interim IP data revealing a 1 km resistive trend. Ashley completed Phase 1 diamond drilling in April-May 2026, with assay results from TAK-26-01, TAK-26-02, and TAK-26-03 confirming and validating historic near-surface mineralization in the D99Z zone.

**NI 43-101 Disclosure**

The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., CEO and Director of Ashley Gold Corp. The company cautions that some results discussed are historical and may not be reliable, but are believed to provide an indication of the project's potential. Core visuals and grab samples are selective and not representative of the entire property. Assay results are pending laboratory confirmation.

**About Ashley Gold Corp.**

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing prospective gold and polymetallic deposits in Canada. Its flagship assets include the Burnthut Project (including the Tak Patents) in the Dryden Area, Ontario, and optioned claims in British Columbia.

Source: Ashley Gold Corp.