Ashley Gold Corp. Closes First Tranche of Private Placement, Secures Over CDN$375,000

CALGARY, ALBERTA — July 15, 2026 — Leads & Copy — Ashley Gold Corp. has successfully closed the first tranche of its non-brokered private placement, securing CDN$375,034.01 in gross proceeds. The company announced the closure of this initial tranche, comprised of critical mineral flow-through units (CFT Units) and non-flow-through units (NFT Units), and anticipates closing a second tranche in the coming weeks due to strong investor interest.

The first tranche included 5,000,524 CFT Units sold at CDN$0.065 each, generating CDN$325,034.06, and 909,090 NFT Units sold at CDN$0.055 each, totaling CDN$49,999.95. Each CFT Unit consists of one common share and one-half of a common share purchase warrant. Each NFT Unit comprises one common share and one-half of a common share purchase warrant. These warrants grant holders the right to acquire an additional common share at CDN$0.10 for 24 months post-closing. The proceeds from CFT Units will fund eligible Canadian exploration expenses for critical mineral mining, specifically drilling at the company's Ontario gold projects, and will be renounced to subscribers by December 31, 2026. Funds from NFT Units will support general and administrative expenses and working capital.

In connection with the offering, Ashley Gold Corp. paid CDN$24,000.72 in cash finder fees and issued 369,241 finder warrants, exercisable at CDN$0.065 per share for 24 months. All securities issued are subject to a four-month-and-one-day hold period, expiring November 16, 2026. The offering awaits final acceptance from the Canadian Securities Exchange. Following this tranche, the company has 100,384,654 common shares outstanding.

Preparations are also underway for Phase III drilling, scheduled to commence July 21, 2026. The drilling campaign will target step-outs on the NTZ and 67Z zones on the company's wholly owned Tak Patents, which are adjacent to the Goliath-Gold Complex. Ashley Gold Corp. President Noah Komavli stated that the closing of this tranche provides operational flexibility for the upcoming drilling and that the company will update the market once drilling is underway.

The Tak Project, located northeast of the Goliath Gold Complex, has a history of exploration dating back to the 1900s by companies including Lac Minerals and Cominco. Despite intermittent exploration, only 11 historic drill holes were recorded between 1999 and 2002 before the project lay dormant for 24 years until Ashley Gold Corp. acquired it.

In early 2026, Ashley Gold Corp. commissioned the first modern IP survey on the Tak Patents, revealing a 1km resistive body. The company engaged 518 Drilling Ltd. for exploration. Three high-priority zones have emerged: D99Z, characterized by surface mineralization up to 100m wide; 67Z, building on historic intercepts from 2002 such as 3.08 g/t Au over 7.57 m; and NTZ, a newly discovered high-grade gold zone identified through prospecting, with samples assaying up to 398 g/t Au, which has no prior drilling records.

Historical exploration on the Tak Patents includes work by Long Lac Minerals in the 1940s, Cominco in the 1980s, and Triex Resources in the late 1990s, which completed 10 drill holes. Southern Rio Resources optioned the property in 2002 and drilled eight holes, outlining mineralization over approximately 350 meters strike length. Ashley Gold Corp. acquired 100% ownership of the Tak Patents in January 2026. Subsequent exploration in 2026 included modern IP surveys and Phase 1 drilling, which validated and expanded historic mineralization at the D99Z zone.

The technical information in this release was reviewed by Darcy Christian, P.Geo., a Qualified Person. Some results are historical, and the company acknowledges that they may not be reliable but believes they indicate the project's potential. Ashley Gold Corp. is a Canadian mineral exploration company focused on gold and polymetallic deposits in Canada.

Source: Ashley Gold Corp.