ASHL.CN · 2026-05-20 12:00:00

Ashley Gold Corp. Intercepts Multiple Gold Bearing Intervals Including 0.586 g/t Au over 34.2 m From Surface Within 194.1 m of Anomalous Gold Mineralization - Bordering the NexGold Goliath-Gold Complex, Dryden Area, Ontario

Drill Results Corporate Updates

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072| ashleygoldcorp.com

FOR IMMEDIATE RELEASE

Ashley Gold Corp. Intercepts Multiple Gold Bearing Intervals Including 0.586 g/t

Au over 34.2 m From Surface Within 194.1 m of Anomalous Gold Mineralization -

Bordering the NexGold Goliath-Gold Complex, Dryden Area, Ontario

CALGARY, ALBERTA - May 20, 2026 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the

“Company”) is pleased to share its second assay result from the recently completed Phase 1 drill program

on its wholly owned Tak Patents.

Highlights:

- TAK-26-02 returns wide gold zone near surface, terminates in mineralization,

- Results suggest broad width of the D99Z, south of previously reported TAK-26-01 (1.104 g/t Au

over 28 m), with additional width to be confirmed in holes TAK-26-04 and TAK-26-05.

- Assays from 3 holes remain pending.

Figure 1: Regional Map and Area of Activity

- 2 -

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

President Noah Komavli:

“This hole demonstrates gold mineralization throughout much of its length, highlighted by a strong near-

surface intercept in Zone 1 of 34.2 metres grading 0.586 g/t Au, including 9.2 metres at 1.262 g/t Au.

Additional mineralized zones were returned in the middle and lower sections of the hole. TAK-26-02

was the deepest drilled thus far on the property, and it’s encouraging to see mineralization continuing at

depths below any previously drilled sections. This is particularly important as we have yet to define the

boundaries of the gold mineralization or understand the plumbing of this system. As I stated when we

released TAK-26-01, we are only beginning to scratch the surface of these claims, with results giving us

invaluable data on the gold mineralization in the Tak Porphyry unit. I look forward to the next results!”

CEO Darcy Christian on Phase 1 and TAK-26-02 assays:

“The D99Z surface gold mineralized zone looks to be pervasive based on the first two holes of the 2026

program coupled with historical information. We currently estimate surface width at over 80m with the

results from upcoming holes having the potential to increase this.”

Project Map

Figure 2: Area of Reported Assays - Surficial Resistivity

- 3 -

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

Figure 3: D99Z Cross Section

Core Images

Figure 4: TAK-26-02 - Part of Sample 2415181 - Quartz Stockwork with Example Mineralization -

Returning 0.642 g/t Au

- 4 -

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

Figure 5: TAK-26-02 - Part of Sample 2415181 - 0.6m Downhole from Figure 4, Quartz Stockwork with

Example Mineralization

- 5 -

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

Figure 6: TAK-26-02 - Example Mineralization - Hydrothermal Pyrite Veinlet in Altered QFP

Assays and Discussion

Table 1: Drilling Location Data

TAK-26-02 was designed as an eastern fan from TAK-02-02. The results display gold mineralization

starting at the drill hole collar, with a notable gold interval over 34.2 m. The entire hole returned

anomalous gold values, with three distinct zones (Zones 1, 2, and 3).

- 6 -

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

Table 2: Significant Composite Assay Intervals in TAK-26-02

Hole_ID Sample # From (m) To (m) Length (m) Gold (g/t)

TAK-26-02 2415063 3.00 4.00 1.00 0.149

TAK-26-02 2415064 4.00 5.00 1.00 0.251

TAK-26-02 2415065 5.00 6.00 1.00 0.049

TAK-26-02 2415066 6.00 7.00 1.00 0.014

TAK-26-02 2415067 7.00 8.00 1.00 2.200

TAK-26-02 2415068 8.00 9.00 1.00 0.026

TAK-26-02 2415069 9.00 10.00 1.00 0.073

TAK-26-02 2415071 10.00 11.00 1.00 0.881

TAK-26-02 2415072 11.00 12.00 1.00 0.075

TAK-26-02 2415073 12.00 13.00 1.00 0.039

TAK-26-02 2415074 13.00 14.00 1.00 0.088

TAK-26-02 2415075 14.00 15.00 1.00 0.020

TAK-26-02 2415076 15.00 16.00 1.00 0.074

TAK-26-02 2415077 16.00 17.00 1.00 0.040

TAK-26-02 2415078 17.00 18.00 1.00 0.077

TAK-26-02 2415079 18.00 19.00 1.00 1.640

TAK-26-02 2415081 19.00 20.00 1.00 0.267

TAK-26-02 2415082 20.00 21.00 1.00 0.444

TAK-26-02 2415083 21.00 22.00 1.00 0.088

TAK-26-02 2415084 22.00 23.00 1.00 0.072

TAK-26-02 2415085 23.00 24.00 1.00 0.507

TAK-26-02 2415086 24.00 24.80 0.80 0.543

TAK-26-02 2415087 24.80 25.80 1.00 0.321

TAK-26-02 2415088 25.80 27.00 1.20 0.295

TAK-26-02 2415089 27.00 28.00 1.00 0.263

TAK-26-02 2415091 28.00 29.00 1.00 2.860

TAK-26-02 2415092 29.00 30.00 1.00 0.046

TAK-26-02 2415093 30.00 31.00 1.00 0.405

TAK-26-02 2415094 31.00 32.00 1.00 0.293

TAK-26-02 2415095 32.00 33.00 1.00 0.031

TAK-26-02 2415096 33.00 34.00 1.00 0.472

TAK-26-02 2415097 34.00 35.00 1.00 0.993

- 7 -

Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

TAK-26-02 2415098 35.00 36.20 1.20 4.850

TAK-26-02 2415099 36.20 37.20 1.00 0.687

TAK-26-02 2415101 37.20 38.00 0.80 0.063

TAK-26-02 2415102 38.00 39.00 1.00 0.036

TAK-26-02 2415103 39.00 40.00 1.00 0.080

TAK-26-02 2415104 40.00 41.00 1.00 0.038

TAK-26-02 2415105 41.00 42.00 1.00 0.057

TAK-26-02 2415106 42.00 43.35 1.35 0.129

TAK-26-02 2415107 43.35 43.75 0.40 0.186

TAK-26-02 2415108 43.75 45.00 1.25 0.189

TAK-26-02 2415109 45.00 46.00 1.00 0.013

TAK-26-02 2415111 46.00 47.00 1.00 0.049

TAK-26-02 2415112 47.00 48.00 1.00 0.012

TAK-26-02 2415113 48.00 49.00 1.00 0.003

TAK-26-02 2415114 49.00 50.00 1.00 0.080

TAK-26-02 2415115 50.00 51.00 1.00 0.008

TAK-26-02 2415116 51.00 52.00 1.00 0.063

TAK-26-02 2415117 52.00 53.00 1.00 0.107

TAK-26-02 2415118 53.00 54.00 1.00 0.060

TAK-26-02 2415119 54.00 55.00 1.00 0.017

TAK-26-02 2415121 55.00 56.00 1.00 0.071

TAK-26-02 2415122 56.00 57.00 1.00 0.010

TAK-26-02 2415123 57.00 58.50 1.50 0.018

TAK-26-02 2415124 58.50 60.00 1.50 0.920

TAK-26-02 2415125 60.00 61.50 1.50 0.431

TAK-26-02 2415126 61.50 62.75 1.25 0.083

TAK-26-02 2415127 62.75 64.00 1.25 0.089

TAK-26-02 2415128 64.00 65.50 1.50 0.003

TAK-26-02 2415129 65.50 67.00 1.50 0.012

TAK-26-02 2415131 67.00 68.50 1.50 0.120

TAK-26-02 2415132 68.50 70.00 1.50 0.060

TAK-26-02 2415133 70.00 71.50 1.50 0.008

TAK-26-02 2415134 71.50 73.00 1.50 0.003

TAK-26-02 2415135 73.00 73.75 0.75 0.007

TAK-26-02 2415136 73.75 74.50 0.75 0.200

TAK-26-02 2415137 74.50 76.00 1.50 0.064

TAK-26-02 2415138 76.00 77.50 1.50 0.017

TAK-26-02 2415139 77.50 79.00 1.50 0.023

TAK-26-02 2415141 79.00 80.50 1.50 0.068

TAK-26-02 2415142 80.50 82.00 1.50 0.145

TAK-26-02 2415143 82.00 83.50 1.50 0.011

TAK-26-02 2415144 83.50 85.00 1.50 0.007

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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6

+1 587 777 9072 | ashleygoldcorp.com

TAK-26-02 2415145 85.00 86.00 1.00 0.040

TAK-26-02 2415146 86.00 87.00 1.00 0.010

TAK-26-02 2415147 87.00 88.00 1.00 0.172

TAK-26-02 2415148 88.00 89.00 1.00 0.232

TAK-26-02 2415149 89.00 90.25 1.25 0.176

TAK-26-02 2415151 90.25 91.25 1.00 1.220

TAK-26-02 2415152 91.25 92.75 1.50 1.110

TAK-26-02 2415153 92.75 93.75 1.00 0.013

TAK-26-02 2415154 93.75 95.25 1.50 0.210

TAK-26-02 2415155 95.25 96.50 1.25 0.418

TAK-26-02 2415156 96.50 97.75 1.25 0.035

TAK-26-02 2415157 97.75 99.25 1.50 0.125

TAK-26-02 2415158 99.25 101.00 1.75 0.223

TAK-26-02 2415159 101.00 102.50 1.50 0.052

TAK-26-02 2415161 102.50 103.50 1.00 0.003

TAK-26-02 2415162 103.50 104.50 1.00 0.003

TAK-26-02 2415163 104.50 105.50 1.00 0.053

TAK-26-02 2415164 105.50 107.00 1.50 0.194

TAK-26-02 2415165 107.00 108.50 1.50 0.913

TAK-26-02 2415166 108.50 110.00 1.50 0.024

TAK-26-02 2415167 110.00 111.00 1.00 0.031

TAK-26-02 2415168 111.00 112.20 1.20 0.066

TAK-26-02 2415169 112.20 113.00 0.80 0.010

TAK-26-02 2415171 113.00 114.30 1.30 0.084

TAK-26-02 2415172 114.30 115.80 1.50 0.016

TAK-26-02 2415173 115.80 117.00 1.20 0.003

TAK-26-02 2415174 117.00 118.25 1.25 0.012

TAK-26-02 2415175 118.25 119.60 1.35 0.117

TAK-26-02 2415176 119.60 121.00 1.40 0.141

TAK-26-02 2415177 121.00 122.50 1.50 1.120

TAK-26-02 2415178 122.50 124.00 1.50 0.407

TAK-26-02 2415179 124.00 125.00 1.00 1.140

TAK-26-02 2415181 125.00 126.00 1.00 0.642

TAK-26-02 2415182 126.00 127.00 1.00 1.260

TAK-26-02 2415183 127.00 128.50 1.50 0.596

TAK-26-02 2415184 128.50 130.00 1.50 0.069

TAK-26-02 2415185 130.00 131.50 1.50 0.042

TAK-26-02 2415186 131.50 133.00 1.50 0.123

TAK-26-02 2415187 133.00 134.50 1.50 0.018

TAK-26-02 2415188 134.50 135.50 1.00 1.190

TAK-26-02 2415189 135.50 137.00 1.50 0.286

TAK-26-02 2415191 137.00 138.00 1.00 0.122

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