Ashley GOLD Closes Financing FOR Burnthut Drilling Program
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072| ashleygoldcorp.com
FOR IMMEDIATE RELEASE
CALGARY, ALBERTA
May 15, 2024
Ashley Gold Closes Financing for Burnthut Drilling Program
Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “ Company”) announces closing of fully subscribed non-brokered
private placement financing (the “Offering”) for aggregate proceeds of $150,000 (CDN) to advance the Howie, Tabor-Sakoose,
and Burnthut Properties.
Darcy Christian, CEO of Ashley comments “In the last two flow-through raises we have aligned with a family office
that is very keen on both our gold and uranium assets. This group’s strategy is long term investment in companies
with high quality exploration properties and we are happy to build this relationship for the future.”
FINANCING TERMS AND USE OF PROCEEDS
The Offering is comprised of up to 1,500,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of up to $150,000.
Each Unit is comprised of one Flow-Through common share and one-half of one non-flow through common share purchase
warrant (“Warrant”), with each full Warrant exercisable at an exercise price of $0.16 for a term of 36 months after the closing
(“Closing Date”).
If, on any 10 consecutive trading days occurring after four months and one day has elapsed following the Closing Date of the
Offering, the closing sales price of the common shares (or the closing bid, if no sales were reported on a trading day) as quoted
on the Canadian Securities Exchange is greater than CDN$0.25 per common share, the Company may provide notice in writing
to the holders of the warrants by issuance of a press release that the expiry date of the warrants will be accelerated to the 30th
day after the date on which the Company issues such press release.
In connection with the issue and sale of the Units under the Offering, the Company may pay finder fees and finder warrants to
eligible finders at the discretion of the board of directors.
The gross proceeds will be used to incur eligible Canadian Exploration Expenses at Howie, Burnthut and Tabor-Sakoose
relating to exploration activities.
THE EXISTING SHAREHOLDER EXEMPTION AND INVESTMENT DEALER EXEMPTION
The Offering will be made available to existing shareholders of the Company who, as of the close of business on May 8, 2024,
held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the
prospectus exemption set out in B.C. Instrument 45-534 -- Exemption From Prospectus Requirement for Certain Trades to
Existing Security Holders and in similar instruments in other jurisdictions in Canada. The existing shareholder exemption limits
a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding
the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained
from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors
relying on the existing shareholder exemption exceeding the maximum amount of the financing, the Company intends to adjust
the subscriptions received on a pro rata basis.
The Company has also made the Offering available to certain subscribers pursuant to B.C. Instrument 45-536 - Exemption
Form Prospectus Requirement for Certain Distributions Through an Investment Dealer. In accordance with the requirements
of the investment dealer exemption, the Company confirms that there is no material fact or material change about the Company
that has not been generally disclosed.
The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange. All
securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under
applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of
jurisdictions outside Canada.
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
ABOUT ASHLEY GOLD CORP.
Ashley Gold is focused on creating substantive, long-term value for its shareholders through the discovery and development of
world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa
Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in
the Alto-Gardnar Project subject to a 0.5% royalty, 100% interest in the Burnthut Property subject to a 1.5% NSR, and an
option to earn 100% of the Sakoose claims subject to a 1.5% NSR. In addition, Ashley has entered into an option agreement to
earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.
Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration and
development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing
portfolio of high-quality gold projects as well as moving the Sahara Uranium-Vanadium project towards near-term production.
The responsibility of this release lies with Mr. Darcy Christian, President and CEO • +1 (587) 777-9072 •
[email protected] , may be contacted for further information. www.ashleygoldcorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility
for the adequacy or accuracy of this release.
DISCLAIMER & FORWARD-LOOKING STATEMENTS
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking
statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks
and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no
assurance that actual results will meet management’s expectations. Factors which cause results to differ materially are set out
in the Company’s documents filed on SEDAR. Undue reliance should not be placed on “forward looking statements”.