CSE Form 7 Monthly Progress Report
FORM 7 – MONTHLY PROGRESS REPORT
March 2025
Page 1
FORM 7
MONTHLY PROGRESS REPORT
Name of Listed Issuer: Ashley Gold Corp. (the “Issuer”).
Trading Symbol: ASHL
Number of Outstanding Listed Securities: 44,868,581
Date: April 6 2025
This Monthly Progress Report must be posted before the opening of trading on the fifth trading
day of each month. This report is not intended to replace the Issuer’s obligation to separately
report material information forthwith upon the information becoming known to management or
to post the forms required by Exchange Policies. If material information became known and was
reported during the preceding month to which this report relates, this report should refer to the
material information, the news release date and the posting date on the Exchange website.
This report is intended to keep investors and the market informed of the Issuer’s ongoing
business and management activities that occurred during the preceding month. Do not discuss
goals or future plans unless they have crystallized to the point that they are "material information"
as defined in the Policies. The discussion in this report must be factual, balanced and non-
promotional.
General Instructions
(a) Prepare this Monthly Progress Report using the format set out below. The sequence of
questions must not be altered nor should questions be omitted or left unanswered. The
answers to the items must be in narrative form. State when the answer to any item is
negative or not applicable to the Issuer. The title to each item must precede the answer.
(b) The term “Issuer” includes the Issuer and any of its subsidiaries.
(c) Terms used and not defined in this form are defined or interpreted in Policy 1 –
Interpretation and General Provisions.
Report on Business
1. Provide a general overview and discussion of the development of the Issuer’s business
and operations over the previous month. Where the Issuer was inactive disclose this fact.
The Company’s principal business activity is the acquisition and exploration of mineral
properties in the natural resource sector with the long-term goal of divesting its investment
assets at a profit. Ashley’s mandate is to acquire in mining natural resource opportunities,
primarily in the Americas and in metal deliveries.
2. Provide a general overview and discussion of the activities of management.
FORM 7 – MONTHLY PROGRESS REPORT
March 2025
Page 2
The Company is focused on creating substantive long-term value for its shareholders
through the discovery and development of world class gold deposits. The Company
currently holds an option to earn:
100% of the Santa Maria 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% of the Tabor Lake Lease subject to a 1.5% royalty;
An option to earn 100% interest in the Sakoose Gold Project subject to a 1.5% royalty;
100% interest in the Burnthut Property subject to a 1.5% royalty;
During the reporting period, the Company entered into property acquisition agreements
to acquire the following properties:
1) Goldlund Property 100% interest with 19 unpatented claims located at Sioux Lookout
region of Ontario and the Company agreed to pay $85,000 in cash in accordance with
the terms of the agreement and issue 200,000 common shares of the Company for
the acquisition of the property, subject to a 1% NSR over the claims to a 0.5% buy
back for $500,000.
2) Icefield Property located in British Columbia, covering 1,863 hectares. The Company
agreed to pay $7,500 in cash and issue 8,000,000 common shares of the Company
in accordance with the terms of the agreement, subject to 0.5% of the 1.5% Royalty
for a one-time payment of $500,000.
3) 100% interest for an additional 12 Burnthut Claims and 2 Howie Claims located east
of Dryden, Ontariob subject to a 1% NSR over the claims to a 0.5% buy back for
$600,000. The Company agreed to issue 200,000 common shares of the Company
for property acquisition
3. Describe and provide details of any new products or services developed or offered. For
resource companies, provide details of new drilling, exploration or production programs
and acquisitions of any new properties and attach any mineral or oil and gas or other
reports required under Ontario securities law.
During the reporting period, the Company entered into drilling contract to utilize the drilling
team and equipment for the 3-hole Burnthut drill program.
4. Describe and provide details of any products or services that were discontinued. For
resource companies, provide details of any drilling, exploration or production programs
that have been amended or abandoned.
N/A
5. Describe any new business relationships entered into between the Issuer, the Issuer’s
affiliates or third parties including contracts to supply products or services, joint venture
agreements and licensing agreements etc. State whether the relationship is with a
Related Person of the Issuer and provide details of the relationship.
N/A
FORM 7 – MONTHLY PROGRESS REPORT
March 2025
Page 3
6. Describe the expiry or termination of any contracts or agreements between the Issuer,
the Issuer’s affiliates or third parties or cancellation of any financing arrangements that
have been previously announced.
N/A
7. Describe any acquisitions by the Issuer or dispositions of the Issuer’s assets that occurred
during the preceding month. Provide details of the nature of the assets acquired or
disposed of and provide details of the consideration paid or payable together with a
schedule of payments if applicable, and of any valuation. State how the consideration
was determined and whether the acquisition was from or the disposition was to a Related
Person of the Issuer and provide details of the relationship.
N/A
8. Describe the acquisition of new customers or loss of customers.
N/A
9. Describe any new developments or effects on intangible products such as brand names,
circulation lists, copyrights, franchises, licenses, patents, software, subscription lists and
trade-marks.
N/A
10. Report on any employee hirings, terminations or lay-offs with details of anticipated length
of lay-offs.
N/A
11. Describe and provide details of legal proceedings to which the Issuer became a party,
including the name of the court or agency, the date instituted, the principal parties to the
proceedings, the nature of the claim, the amount claimed, if any, if the proceedings are
being contested, and the present status of the proceedings.
N/A
12. Provide details of any indebtedness incurred or repaid by the Issuer together with the
terms of such indebtedness.
N/A
13. Provide details of any securities issued and options or warrants granted.
N/A
14. Provide details of any loans to or by Related Persons.
N/A
15. Provide details of any changes in directors, officers or committee members.
N/A
16. Discuss any trends which are likely to impact the Issuer including trends in the Issuer’s
market(s) or political/regulatory trends.
N/A
Certificate Of Compliance
The undersigned hereby certifies that:
FORM 7 – MONTHLY PROGRESS REPORT
March 2025
Page 4
1. The undersigned is a director and/or senior officer of the Issuer and has been duly
authorized by a resolution of the board of directors of the Issuer to sign this Certificate of
Compliance.
N/A
2. The undersigned is a director and/or senior officer of the Issuer and has been duly
authorized by a resolution of the board of directors of the Issuer to sign this Certificate of
Compliance.
N/A
3. As of the date hereof there is no material information concerning the Issuer which has
not been publicly disclosed.
N/A
4. The undersigned hereby certifies to the Exchange that the Issuer is in compliance with
the requirements of applicable securities legislation (as such term is defined in National
Instrument 14-101) and all Exchange Requirements (as defined in CNSX Policy 1).
YES
5. All of the information in this Form 7 Monthly Progress Report is true.
YES
Dated: April 6, 2025.
Darcy Christian __________
Name of Director or Senior Officer
“ Darcy Christian”__________
Signature
Official Capacity
Issuer Details
Name of Issuer
Ashley Gold Corp
For Month End
March 31, 2025
Date of Report
YY/MM/D
2025/04/06
Issuer Address
Suite 1150, 707 – 7 Avenue SW, Calgary, Alberta T2P 3H6
City/Province/Postal Code
Calgary / Alberta / T2P 3H6
Issuer Fax No.
( )
Issuer Telephone
No.
(587) 777-9072
Contact Name
Darcy J. Christian
Contact Position
CEO
Contact Telephone
No.
(587) 777-9072
Contact Email Address
Web Site Address
ashleygoldcorp.com