Ashley Gold Corp. Announces Closing of Tranche 1 and Mobilization to Howie Property

Calgary, Alberta — July 29, 2025 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has announced the closing of tranche 1 for gross proceeds of $136,890.00, anchored by President Noah Komavli. The company's field crew has been mobilized to the Howie Property to execute phase 1 work, focusing on washing and channel sampling of the Twilight Zone, along with detailed sampling of the Creek Showing. The program is expected to take under two weeks.

Simultaneous desktop consolidation of Esso drill logs will proceed to generate a lithology model, critical for finalizing drill pad locations, combined with additional data from channel samples and a completed IP survey. The Esso logs, historic but detailed, have assays redacted. With permits secured for diamond drilling at the Howie property, validation of historic channel cut values on the Twilight zone will be an immediate focus. Tranche 2 proceeds will be used exclusively for diamond drilling, according to Komavli.

The first tranche consisted of the issuance of 2,040,000 FT shares and 775,333 NFT shares for gross proceeds of $136,890.00. Each NFT unit includes one common share and one-half a transferrable common share purchase warrant, exercisable at $0.12, expiring in two years. FT Units consist of one flow-through common share and one half a non-flow-through common share purchase warrant exercisable at $0.12 for two years. Finders' fees of $2,722.50 in cash plus 60,500 broker warrants were paid to arm's length parties. Shares are subject to a four-month hold period.

The Offering will be made available to existing shareholders of the Company who, as of the close of business on July 3, 2025. The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange.

Project History - Howie Property:

• May 1987: Esso Minerals conducts a two year program on Howie (known as Snake Bay). Historic drilling logs from 1987 detail wide zones of mineralization. Assays redacted. Mining Data Ontario
• November 2022: Initial surface prospecting and sampling at Main Katisha Shear Zone yielded assay results up to 52.80 g/t Au, validating the zone’s gold potential*. Junior Mining Network, November 28, 2022
• January 2023: Planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by Dynasty Gold’s Thundercloud Project results. Junior Mining Network, January 23, 2023
• April 2024: Secured exploration permit and Ontario Junior Exploration Program funding, enabling advanced geophysical surveys and sampling. Junior Mining Network, April 2, 2024
• October 2024: Completed induced polarization (IP) survey over 2 km of lines to define 2025 drill targets for subsurface mineralization.Ashley Gold Corporation website, October 15, 2024
• March 2025: Reviewed IP survey data, expanded the project by two claims, and identified new targets along strike for further exploration. The Newswire, March 19, 2025
• May 2025: Conducted mechanical stripping, outcrop washing, and channel sampling at Katisha Zone, with channel cut assay results up to 20.2 g/t Au, confirming continuity of gold mineralization in a 5-10m-wide deformation zone. Expanded strike with discovery of 1.6 g/t Au sample based on IP data*. Junior Mining Network, May 16, 2025,Junior Mining Network, May 26, 2025

Contact Information:

Noah J. Komavli, President, Director

C: (647) 567-9840

E: info@ashleygoldcorp.com

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

*Grab samples are selective samples, and the assay results may not necessarily represent true underlying mineralization.