Ashley Gold Corp. Reports TAK-26-01 Assay from Phase 1 Drilling, Intercepts 1.104 g/t Au over 28 m, Including 1.662 g/t Au over 12 m - with Mineralization Starting at Collar - Bordering the NexGold Goliath-Gold Complex, Dryden Area, Ontario
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072| ashleygoldcorp.com
FOR IMMEDIATE RELEASE
Ashley Gold Corp. Reports TAK-26-01 Assay from Phase 1 Drilling, Intercepts
1.104 g/t Au over 28 m, Including 1.662 g/t Au over 12 m - with Mineralization
Starting at Collar - Bordering the NexGold Goliath-Gold Complex, Dryden Area,
Ontario
CALGARY, ALBERTA - May 14, 2026 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the
“Company”) is pleased to share its first assay result from the recently completed Phase 1 drill program
on its wholly owned Tak Patents, as well as guidance for Phase 2 drilling.
Highlights:
- TAK-26-01 confirms historic mineralization values in the area of TAK-99-10, increases
confidence in historical intercepts,
- 4 additional holes remain pending assays,
- Gold mineralization in the newly dubbed Double 9 Zone (“D99Z”) starts at the surface, over
significant width, remaining open for expansion,
- Phase 2 drilling to resume in late May, 2026.
Figure 1: Regional Map and Area of Activity
President Noah Komavli:
“I am happy to deliver this first assay result to our investors and the markets. From research to purchase,
capital raise, and execution, our team has delivered the most impactful drill program in the history of the
Company in five months. Not just from meterage or grade, but by operating in a strategic location
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abutting the most advanced project in the district — the Goliath-Gold complex, operated by NexGold
Mining Corp. This milestone was made possible through the determination of our team and through
collaboration with contractors, stakeholders, and peers — and what has me most excited is that we have
literally just started to scratch the surface of this project! With the equipment in position for Phase 2, we
are primed to deliver more results in the near term, guided by Phase 1 results.”
CEO Darcy Christian on Phase 1 and TAK-26-01 assays:
“This first hole was designed as a northeastern step-out and undercut of the historic hole TAK-99-10.
The significant results returned give us added confidence in the historic values and allow us to move into
Phase 2 when ready. I look forward to receiving the assays for the four pending holes, as well as the
completed IP inversion. As Noah stated, we have truly just scratched the surface of the claims, with
mineralization starting at the surface and strong potential to expand the D99Z based on future results.”
Project Map
Phase 1 drilling was concentrated on the D99Z, located within a larger highly prospective trend
encapsulated by the Tak Patents.
Figure 2: Area of Activity, Surficial Resistivity
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+1 587 777 9072 | ashleygoldcorp.com
Figure 3: D99Z - Cross Section - TAK-26-01 Results
Core Images
Figure 4: Exploration Manager Shannon Baird, P.Geo, Testing Magnetic Response of TAK-26-01
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Figure 5: TAK-26-01 - Part of Sample 2415002 - Quartz Stockwork with Hydrothermal Pyrite - Returning
0.997 g/t Au
Assays and Discussion
Table 1: Drilling Location Data
TAK-26-01 displays mineralization starting at the drill hole collar, with numerous multi-gram intercepts,
within a wide continuous interval of ~28m. When the drill hole exits the target zone, anomalous gold
values are present in the host rock to the end of the hole.
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Hole_ID Sample # From (m) To (m) Length (m) Gold (g/t)
TAK-26-01 2415001 3.00 4.00 1.00 0.196
TAK-26-01 2415002 4.00 5.00 1.00 0.997
TAK-26-01 2415003 5.00 6.00 1.00 0.304
TAK-26-01 2415004 6.00 7.00 1.00 0.308
TAK-26-01 2415005 7.00 8.00 1.00 0.703
TAK-26-01 2415006 8.00 9.00 1.00 0.344
TAK-26-01 2415007 9.00 10.00 1.00 3.890
TAK-26-01 2415008 10.00 11.00 1.00 0.538
TAK-26-01 2415009 11.00 12.00 1.00 1.600
TAK-26-01 2415011 12.00 13.00 1.00 0.788
TAK-26-01 2415012 13.00 14.00 1.00 3.840
TAK-26-01 2415013 14.00 15.00 1.00 1.920
TAK-26-01 2415014 15.00 16.00 1.00 1.170
TAK-26-01 2415015 16.00 17.00 1.00 1.870
TAK-26-01 2415016 17.00 18.00 1.00 0.216
TAK-26-01 2415017 18.00 19.00 1.00 0.897
TAK-26-01 2415018 19.00 20.00 1.00 2.010
TAK-26-01 2415019 20.00 21.00 1.00 1.200
TAK-26-01 2415021 21.00 22.00 1.00 0.403
TAK-26-01 2415022 22.00 23.00 1.00 0.361
TAK-26-01 2415023 23.00 24.00 1.00 0.146
TAK-26-01 2415024 24.00 25.00 1.00 0.674
TAK-26-01 2415025 25.00 26.00 1.00 0.591
TAK-26-01 2415026 26.00 27.00 1.00 1.260
TAK-26-01 2415027 27.00 28.00 1.00 0.359
TAK-26-01 2415028 28.00 29.00 1.00 0.435
TAK-26-01 2415029 29.00 30.00 1.00 3.030
TAK-26-01 2415031 30.00 31.00 1.00 0.867
TAK-26-01 2415032 31.00 32.00 1.00 0.085
TAK-26-01 2415033 32.00 33.00 1.00 0.015
TAK-26-01 2415034 33.00 34.00 1.00 0.064
TAK-26-01 2415035 34.00 35.00 1.00 0.058
TAK-26-01 2415036 35.00 36.00 1.00 0.005
TAK-26-01 2415037 36.00 37.00 1.00 0.028
TAK-26-01 2415038 37.00 38.00 1.00 < 0.005
TAK-26-01 2415039 38.00 39.00 1.00 < 0.005
TAK-26-01 2415041 39.00 40.00 1.00 < 0.005
TAK-26-01 2415042 40.00 41.00 1.00 0.008
TAK-26-01 2415043 41.00 42.00 1.00 0.006
TAK-26-01 2415044 42.00 43.00 1.00 < 0.005
TAK-26-01 2415045 43.00 44.00 1.00 0.017
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+1 587 777 9072 | ashleygoldcorp.com
TAK-26-01 2415046 44.00 45.00 1.00 0.013
TAK-26-01 2415047 45.00 46.00 1.00 0.022
TAK-26-01 2415048 46.00 47.00 1.00 0.076
TAK-26-01 2415049 47.00 48.00 1.00 0.248
TAK-26-01 2415051 48.00 49.00 1.00 0.066
TAK-26-01 2415052 49.00 50.00 1.00 0.025
TAK-26-01 2415053 50.00 51.00 1.00 0.025
TAK-26-01 2415054 51.00 52.00 1.00 0.116
TAK-26-01 2415055 52.00 53.00 1.00 0.058
TAK-26-01 2415056 53.00 54.00 1.00 0.084
TAK-26-01 2415057 54.00 55.00 1.00 0.006
TAK-26-01 2415058 55.00 56.00 1.00 0.015
TAK-26-01 2415059 56.00 57.00 1.00 0.068
TAK-26-01 2415061 57.00 58.00 1.00 0.014
TAK-26-01 2415062 58.00 59.00 1.00 0.022
Table 2: Assay Results
Phase 1&2 - Next Steps
Phase 1 drilling focused on validating the historic holes drilled in 1999, as core is unavailable and core
diameter was BQ. Core from 2002 may have been cut to quarters in some sections, and therefore spacing
of holes in Phase 1 drilling was planned to validate as much data as possible between 2002 and 1999
holes. TAK-26-02 and TAK-26-03 are the deepest holes drilled on the property to date, and
mineralization present in the bottom of the holes displayed pervasive green sericite-chlorite alteration,
brecciation, and quartz veining accompanied by an increased sulphide content, all of which could
potentially indicate a higher degree of interaction with hydrothermal fluids.
Phase 2 mobilization will be announced formally by the Company, with a start date estimated for late
May, 2026. The Phase 2 program will pick up in the 67 Zone (“67Z”), with one hole confirming
mineralization from TAK-02-06 and TAK-02-07, through a twin or a step back.
TAK-02-06 returned an intersection from 27.27 to 35.30 m that assayed 3.08 g/t Au over 7.57 metres;
however, the hole also returned an assay of 7.0 g/t Au over 1.1 from 81.3 to 82.4 m within a breccia
zone with quartz-carb infilling and 1-2% pyrite. (Southern Rio, 2002)
TAK-02-07 returned an intersection from 27.70 to 36.40 m that assayed 3.18 g/t Au over 8.7 metres; this
includes 8.62 g/t Au over 0.5 m from 27.70 to 28.20 m, 9.67 g/t Au over 0.8 m from 29.45 to 30.25 m,
and 7.57 g/t Au over l .4 m from 35.00 to 36.40 m. (Southern Rio, 2002)
From here, the Company expects to drill in an exploratory nature in zones of interest, at 50m spacings,
or in scissors to test plunges. Assay results from the pending holes may have a material impact on
planning, as well as the final IP report, which is due shortly.
QA/QC
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The Company adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses.
Drill core was boxed, covered and sealed at the drill rig site. Core boxes were labelled with the official drillhole
name and identified in numerical sequence starting from beginning of the hole to the end. Wooden blocks with the
corresponding down hole meterage were inserted after every drill run by the drill contractor. Drill core boxes were
transported by contactors to the onsite logging facility where Company personnel took over the core handling.
All drilling at the Tak project recovers NQ core. Drill core is systematically cut in half using a diamond saw. A
qualified geologist examines the intact drill core, marking intervals for sampling and indicating the cutting line.
Sample lengths are typically 1.0 metre, adjusted to a maximum of 1.5 meters or a minimum length of 0.3 metre as
necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may
contain higher-grade mineralization.
Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a
representative sample, while the other half is submitted for analysis. Individual sample bags are labelled, tagged,
and securely sealed - being then placed into rice bags, which are clearly marked with their contents. Each rice bag
tends to hold 10 sample bags and is then sealed at capacity. The Company submits samples for gold determination
by fire assay to ActLabs - Dryden. (“ActLabs”).
Samples were securely couriered to ActLabs in Dryden, ON by Company management and Company
representatives for 1A2 Au fire assay. Samples are dried and pulverized with subsequent sample size of 5 to 50
grams. The sample is mixed with fire assay fluxes (borax, soda ash, silica, litharge) and with Ag added as a
collector and the mixture is placed in a fire clay crucible. The mixture is then preheated at 850°C, intermediate
950°C and finished at 1060°C with the entire fusion process lasting 60 minutes. The crucibles are then removed
from the assay furnace and the molten slag (lighter material) is carefully poured from the crucible into a mould,
leaving a lead button at the base of the mould. The lead button is then placed in a preheated cupel which absorbs
the lead when cupelled at 950°C to recover the Ag (doré bead) + Au. Au is separated from the Ag in the doré bead
by parting with nitric acid. The resulting gold flake is annealed using a torch. The gold flake remaining is
weighed gravimetrically on a microbalance.
Tak References
Property MDI Link:
https://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI000000002119.htm
l
Wedge Zone assays: https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-
geology-documents/assessment/52G13NW2001/52G13NW2001.PdF
Triex logs (TAK-99 holes):
https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-
documents/assessment/52G13NW2002/52G13NW2002.Pdf
Southern Rio logs (TAK-02 holes):
https://prd-0420-geoontario-0000-blob-cge0eud7azhvfsf7.z01.azurefd.net/lrc-geology-
documents/assessment/52F16NE2006/52F16NE2006.Pdf
NI 43-101 Disclosure
The technical information in this news release was reviewed and approved by Shannon Baird, P.Geo., a
Qualified Person as defined in National Instrument 43-101. Mr. Baird is Exploration Manager of Ashley
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Gold Corp. and registered as a Professional Geoscientist with the Professional Geoscientists of Ontario
as well as the Engineers and Geoscientists of British Columbia.
ABOUT ASHLEY GOLD CORP.
Ashley Gold Corp. is a Canadian mineral exploration company focused 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% ownership in Burnthut (including the Tak
Patents), Howie, and Alto-Gardnar 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 Komavli”
Noah J. Komavli, P.Eng, President, Director
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 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+ (www.sedarplus.ca) (www.sedarplus.ca). Undue reliance
should not be placed on “forward-looking statements.”