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To: LoneClone who wrote (187257)

5/6/2025 3:24:51 PM

From: LoneClone

Read Replies (1) | Respond to of 192380

Ashley Gold Confirms Surface Mineralization at Depth with over 65 Metre Gold Mineralized Zone at Burnthut

thenewswire.com

CALGARY, ALBERTA – TheNewswire - May 6, 2025 - Ashley Gold Corp. (CSE: “ASHL”) (“Ashley” or the “Company”) is pleased to announce assay results from the 2025 diamond drilling program at the Burnthut Project, located in Ontario. The program targeted the newly discovered Alpha and Omega zones, as well as the Oro Grande, and Oro Grande West zones, intersecting significant high-grade gold mineralization close to the surface. These results highlight near surface mineralization that will require follow up.

Highlights:

BH-25-001 intersected 66.10m of gold mineralization from 38.90m including two previously unidentified zones
Oro-Grande and Oro-Grande West intersected at depth with assays as high as 5.96 g/t Au
1984 EM VLF anomalies strengthen away from drilling location and will be focus in 2025

Darcy Christian, CEO of Ashley comments; “These early results are very promising and show a continuity of a mineralized corridor with higher grade zones adjacent to additional broader alteration suggesting significant fluid movement through the system. Gold grades in Oro-west look to increase inland coinciding with a strengthening VLF anomaly which is 400m to the west of drilling. This area will be the focus of our summer program to identify any additional surficial in preparation for a larger scale drill program to better understand the potential variability of the high-grade mineralization.

Assay Highlights

Hole ID	From (m)	To (m)	Interval (m)	Au (g/t)	Zone
BH-25-001	38.90	105.00	66.10	0.16	Alpha-Omega-Oro Grande West
Including	47.90	49.90	2.00	3.26	Alpha
Including	96.00	96.30	0.30	2.12	Oro Grande West
BH-25-002	81.70	89.90	8.20	0.60	Oro Grande West
Including	84.00	84.75	0.75	5.96	Oro Grande West

Table

Click Image To View Full Size

Figure-1 Location and Assay Results of 2025 Burnthut Drill Program

Click Image To View Full Size

Figure-2 Cross-section along BH-25 drill program

Discussion

The 2025 drill program was designed to test the Oro-west and Oro-grande surface outcrops in addition to any additional parallel structures not identified at surface. The Oro-West was intersected at ~75m true vertical depth (TVD) and the Oro-Grande was intersected at approximately 125mTVD. Both zones assayed lower grades than seen in surface outcrops. Additional drilling density is needed to understand whether grade discrepancy is depth related or due to typical variability seen in vein hosted gold systems.

Two additional zones dubbed Alpha and Omega were intersected in the maiden drill program. Alpha and Omega are intensely altered zones with multiple vein generations containing sericite carbonate and silicification alteration. BH-25-001 was continually sampled from 38.90 to 105.00m including Alpha, Omega, and Oro-West which showed continuous low-grade mineralization across 66.10m. This is a significant interval suggesting large amounts of fluid movement through the area. Future drilling will focus on understanding controls on this mineralization.

In 1984 an EM VLF survey was conducted by Golden Range Resources which showed several anomalies across the Oro-West. This anomaly was classified as low priority at the time as no gold mineralization had been identified. Due to logistical considerations the 2025 drill program had drilled the weakest portion of the 800m anomaly. The Oro-Grande, Oro-west, and Oro South surface outcrops all look to coincide with VLF anomalies.

This summer will be focussed on moving inland west from the 2025 drilling program following these trends.

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is dedicated to discovering the next multi-million-ounce gold deposit through efficient and innovative exploration. Operating in mining-friendly and politically stable jurisdictions, Ashley focuses on regions with proven neighboring success stories, creating a clear path toward value generation.

As one of the first movers in the highly coveted Dryden area of Northwest Ontario, Ashley is strategically positioned to leverage the region’s rich geological potential. Our mission is to deliver substantive, long-term value for shareholders by uncovering and advancing world-class gold deposits in one of the most mining-friendly jurisdictions globally.

For further information, please contact:

Mr. Darcy Christian, P.Geo, President and CEO

	(587) 777-9072
	dchristian@ashleygoldcorp.com
	x.com
	www.ashleygoldcorp.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & 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). Undue reliance should not be placed on “forward looking statements”.