Ashley Gold Corp. Submits TAK-26-02 for Fire Assay, Shares Example Mineralization, Provides Updates
Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072| ashleygoldcorp.com
FOR IMMEDIATE RELEASE
Ashley Gold Corp. Submits TAK-26-02 for Fire Assay, Shares Example
Mineralization, Provides Updates
CALGARY, ALBERTA - May 1, 2026 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the
“Company”) is pleased to share visuals and operational updates from its concluded Phase 1 diamond
drilling program on the 100% owned Tak Patents.
Highlights:
- Core logging and cutting well underway,
- Five holes completed,
- TAK-26-01 and TAK-26-02 assays pending.
Figure 1: Regional Map and Area of Activity
President Noah Komavli; “Equipment remains ready for Phase 2 execution following the winter melt.
This pause in drilling will allow us to work towards completing logging and cutting, as well as give our
team time to receive the interpreted IP data from the recently completed survey. As investors may know,
I was on site for the completion of hole 2 cutting, as well as delivery of the halved core to ActLabs
Dryden - example mineralization is highlighted below.”
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Exploration Manager Shannon Baird on TAK-26-02: “The bottom of TAK-26-02 displayed a 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.
Hole 2 was our deepest and farthest north hole giving us more confidence to test beyond this in Phase
2.”
Drilling Operation Update
The following holes have been completed during Phase 1 drilling. With 3 holes still to be cut to
completion and submitted for fire assay.
Table 1: Drilling Location Data
Core Logging and Assay Update
Core logging and cutting is progressing at anticipated rates, with current focus on TAK-26-03. As
disclosed, TAK-26-01 and TAK-26-02 have been logged and cut, with assay results now pending. TAK-
26-02 cutting was completed on Wednesday April 29, 2026 and subsequently delivered to ActLabs
Dryden by Company management.
Image 1: Noah Komavli, Darcy Christian, and Shannon Baird with TAK-26-05
TAK-26-02 Visuals
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Image 2: Hydrothermal Pyrite and Magnetite
Image 3: Quartz, Pyrite, and Magnetite in QFP
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Image 4: Green Sericite-Chlorite Alteration with Quartz Vein
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Image 5: Example Mineralization and Alteration – Pyrite-Chlorite Veinlet (15-20 degrees to core)
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Image 6: Example Mineralization - Pyrite Cube in Quartz Veinlet
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
Image 7: Example Mineralization ~125.5m Downhole - in Quartz Carbonate Veinlet
Clarification to April 28, 2026 Release
The Company wishes to address a small error in the prior press release. All shares and cash were received as of
April 28, 2026, not 2028.
The ticker of the acquisition company is (AIM:RHR), shareholders are invited to follow along with their updates
as they continue to work the property.
In addition to the disclosure provided on April 28, 2026, the Company wishes to add that the shares have been
issued, but are subject to rolling unlock dates every 6 months, starting October 15, 2026. The next tranche unlocks
April 15, 2027 and the final tranche is October 15, 2027. Each tranche is approximately $100,000.00 CDN in
book value as of the date of issuance.
All other figures remain as presented.
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Suite 1150, 707 7th Avenue SW Calgary, Alberta T2P 3H6
+1 587 777 9072 | ashleygoldcorp.com
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
Gold Corp. and registered as a Professional Geoscientist with the Professional Geoscientists of Ontario
as well as the Engineers and Geoscientists of British Columbia.
*Management cautions that core visuals are selective in nature to begin with and is not representative of
the hole in its entirety or indicative of any grade overall. Assay results are pending and visual
identification of minerals does not guarantee economic grades. These preliminary visual observations
are awaiting laboratory confirmation.
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 Santa-Maria, 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