Ashley Gold Corp. Closes First Tranche - Signs Drill Contractor for Maiden Howie Program in December 2025
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072| ashleygoldcorp.com
FOR IMMEDIATE RELEASE
Ashley Gold Corp. Closes First Tranche -
Signs Drill Contractor for Maiden Howie Program in December 2025
CALGARY, ALBERTA - November 27, 2025 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the
“Company”) is pleased to announce that it has closed a first tranche of the proposed financing for gross
proceeds of $265,237.56.
On November 13th, 2025, the company opened the financing for proceeds of $530,000.
The closing of the first tranche consists of the following issuance non-flow through (NFT) units and flow
through (FT) units, with pricing and breakdown as follows:
- 1,578,922 units of FT at $0.095 with a 2 year half warrant at $0.15 for gross proceeds of
$149,795.09; and
- 1,536,833 units of NFT at $0.075 with a 2 year half warrant at $0.12 for gross proceeds of
$115,262.47;
- Management funded $78,750 of the tranche.
Flow-through funds are expected to be used for eligible exploration expenses, including drilling at the
company’s permitted projects and will be renounced by the company December 31, 2025. Hard dollar
gross proceeds are expected to be used for exploration costs as well as corporate G&A costs.
President Noah Komavli on the raise;
“I want to thank shareholders for their interest and support of the company vision.
Ashley has the right ingredients for a discovery across a strong portfolio of projects in an archean
greenstone setting.
The first tranche will allow for execution of the planned scout drill program at the company’s Howie
project, with rapid turn around on activity; drilling is expected to occur in early December.
With road access and sufficient surface work completed, we look forward to expanding our model with
additional data collection. This exploration season at Howie was very busy, with the largest percentage
of labor being diverted to the Howie Project.
Moving from historical occurrences to validated targets to scout drilling in one year represents our drive
for discovery.
Management has further aligned with shareholders, following up with another significant investment in
this tranche.
I look forward to securing the last tranche and allocating funds towards additional drilling!”
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Howie Program Update
Over the spring and summer, the company executed a small stripping campaign on the Main Katisha zone,
channeling a high of 20.2 g/t Au over 0.8m. Later, the company channeled the Twilight Zone, returning a
weighted average of 0.624 g/t Au over 22.9m.
In early fall, the historic core from 1987 was located, cut and assayed, returning 0.33 g/t Au over 25.74m
in proximity to the Twilight Zone.
Due to the complex mineralization and wide spread gold occurrences, the company has proposed a low
cost drill program for additional data collection using oriented core.
With a max proposed meterage of 550m, this program is highly capital effective at a projected cost of
$137,500.
The main target of this exploration program will be the Gap Zone; this linear anomaly is situated along
the East Fault between the Howie and Twilight Zones. The gap zone is host to strong coinciding
chargeability and resistivity anomalies. This area has not seen any historical drilling. A proposed shallow
fence will be executed over the target. The drill rig will be rotated or re-located, with two scissored holes
to follow, targeting the plunge of the Twilight Zone. Final pad locations will be determined ba sed on an
upcoming site visit.
Image 1: Proposed Pad Location for Fence and Scout Drilling - Relative to IP
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
The drilling rig will then be moved to another site in proximity to the Howie, and the company expects
low de-mobilization costs. Additionally, the company may be able to utilize this rig in the early new year
for the proposed Alto -Gardnar program, pending permit and additional funding from tranche 2, again
cutting costs on the mobilization fees.
FINANCING TERMS AND USE OF PROCEEDS
The Company announce d on November 13, 2025, a non -brokered private placement financing (the
“Offering”) for aggregate proceeds of up to $530,000 (CDN) to advance exploration on Ashley’s Ontario
and British Columbia gold properties, as well as for general working capital.
The Offering consists of a Non-Flow-Through (NFT) Unit at a price of $0.075. Each Unit is comprised of
one common share and one -half of one share purchase warrant. Each full warrant is exercisable for one
non-flow through common share, at an exercise price of $0.12 for a term of 24 months after the closing
(“Closing Date”).
The Offering also consists of a Flow -Through (FT) Unit at a price of $0.095. Each Unit is comprised of
one common share and one -half of one share purchase warrant. Each full warrant is exercisable for one
non-flow through common share, at an exercise price of $0.15 for a term of 24 months after the closing
(“Closing Date”).
In connection with the Offering, the Company has agreed to pay finder's fees totalling $12,521.00 and
issue 137,753 finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to
acquire one Common Share of the Company at a price of C$0.075 for a period of 24 months following
issuance.
Mr. Darcy Christian, director and CEO of the company purchased 200,000 Units at a cost of $15,000. Mr.
Noah Komavli, director and President of the company purchased 100,000 Units at a cost of $7,500, and
1000903966 Ontario Inc., a company under the control and direction of Mr. Komavli, purchased 550,000
Units at a cost of $41,250. Mr. Paul Rozek, CFO of the company purchased 200,000 Units at a cost of
$15,000. These participations constitute a related party transaction under Multilateral Instrument 61 -101
- Protection of Minority Security Holders in Special Transactions ("MI 61 -101") which would normally
be subject to formal valuation and minority shareholder approval requirements but is exempt pursuant to
subsections 5.5(a) and 5.7(a) of MI 61 -101 as the va lue of these purchases does not exceed 25% of the
Company's market capitalization.
The Common Shares, Warrants and Finder's Warrants are subject to a statutory hold period expiring on
the date that is four months and one day upon issuance. The Offering is subject to final CSE Exchange
acceptance.
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
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 November 13, 2025, 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 th e 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 ex isting
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 applicab le Canadian securities laws, in addition to such other
restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
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. Data Link
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*. News Link
January 2023:
Planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by Dynasty
Gold’s Thundercloud Project results. News Link
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:
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Completed induced polarization (IP) survey over 2 km of lines to define 2025 drill targets for subsurface
mineralization. News Link
March 2025:
Reviewed IP survey data, expanded the project by two claims, and identified new targets along strike for
further exploration. News Link
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*. News Link
September 2025:
Located the historic Esso core, channel sampling completed at the Twilight Zone outcrop. News Link
Project History - Alto Project
1937:
Gold discovered at Alto-Gardnar by l.W. Alto and W. Gardnar (Berger, 1989).
1940:
Sandybeach Lake Syndicate; stripping, trenching, bulk sampling, including 125-ton bulk sample from an
open cut with a reported grade of 0.231 ounces per ton (opt) . In 1943, Satterly (in Berger, op.cit.)
reported the bulk sample ran 0.081 opt, although the discrepancy between the two values is unresolved.
1982:
Ground restaked by K. and M. Bernier, who cut a grid and conducted a ground VLF survey, in addition
to resampling historic trenches. (in Berger, op.cit.)
1983:
Report highlighting a strong northeast -southwest striking quartz vein system in Keewatin greenstone
intruded by quartz porphyry, with favorable geology for gold mineralization similar to nearby deposits.
The main vein extends over 1,000 feet with widths up to 24 feet, showing visible gold, pyrite, chalcopyrite,
and commercial assays up to 0.37 oz/ton gold. (Report, 1983)
1986:
Loydex Resources Inc. flew airborne magnetometer and EM survey over the area including the Alto -
Gardnar shear zone (Terraquest, 1987)
1995:
Champion Bear Resources drilled four diamond drill holes on the Alto -Gardnar property, no data is
available (Pryslak and Sears, 1995).
2006:
Gossan Resources conducted a field program involving 340 meters of mechanical stripping , detailed
geologic mapping, channel sampling of 273 samples, prospecting, and MMI soil sampling to define the
structural controls and extend the shear zone. Results revealed anomalous gold values up to 9.69 g/t
primarily in sheared mafic volcanics with qu artz stringers and alteration, alongside identification of
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
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potential shear extensions up to 2.3 km northeast. Conclusions highlight two styles of gold
mineralization—in quartz veins and shear zones —recommending re -assaying for nugget effects,
petrographic analysis, and drilling to further evaluate the property's potential.
October 2022:
Ashley acquires the Alto-Gardnar project.
May 2024:
Ashley Gold Discovers New Vein at Alto-Gardnar Assaying 106 g/t Au. (News Link)
NI 43-101 Disclosure
The technical information in this news release was prepared and reviewed by Darcy Christian, CEO,
P.Geo., a Qualified Person as defined in National Instrument 43 -101. Mr. Christian is registered as a
Professional Geoscientist with Engineers Geoscientists o f Alberta. Mr. Christian is non -independent of
Ashley Gold Corp.
Some results discussed in this document are historical. Ashley nor the qualified person have performed
sufficient work or data verification of the historical data. Although the historical results may not be
reliable, the Company nevertheless believes that they provide an indication of the Project's potential and
are relevant for any future exploration program.
*Management cautions that grab samples are selective in nature, and the assay results may not
necessarily represent true underlying mineralization.
ABOUT ASHLEY GOLD CORP.
Ashley Gold Corp. is a Canadian mineral exploration company focussed on acquiring and developing
highly prospective gold and polymetallic deposits in Canada’s top mining regions. The Company’s
flagship assets are in the Dryden Area in Ontario with a 100% o wnership in Burnthut, Howie, Alto -
Gardnar and Santa -Maria claims as well as in British Columbia with the Icefield Portfolio having two
highly prospective claim packages.
For more information, please refer to the Company’s information available on SEDAR+
(www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.
Contact Information
On behalf of the Board of Directors,
Noah J. Komavli, P.Eng, President & Director
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
C: (647) 567-9840
X: KKomavli
-Or-
Darcy Christian, P.Geo, CEO
C: (587) 777-9072
Connect With Ashley:
www.ashleygoldcorp.com
X: https://x.com/AshleyGoldCorp
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 u ncertainties. 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+ (www.sedarplus.ca) (www.sedarplus.ca). Undue reliance should not be
placed on “forward-looking statements.”