Calgary, Alberta – March 13, 2026 – TheNewswire – Ashley Gold Corp. (CSE: ASHL) (“Ashley” or the “Company”) announces that the Company has received the necessary permits to operate a drill campaign on the Gold Mountain Project.

 

President Noah Komavli; “Ashley has reached a significant milestone for the Gold Mountain polymetallic project. Historic results as well as recent surface sampling have revealed compelling numbers across precious and base metals.

Ashley’s near term focus remains on the Dryden Area - specifically on the Tak Patents. We look forward to circling back on our BC projects in the near future.”

 

Gold Mountain, BC:

 

Gold Mountain is an early staged gold-silver project, located about 50 km northwest of Golden, British Columbia. The project consists of four claims covering approximately 1,863 ha.  Highlights include:

• North Showing: Grab sample returned 4.87 g/t Au, 710 g/t Ag, and 1.89% Cu Allen, 1982 

• South Showing: Peak values of 30.3 g/t Au, 13,301 g/t Ag, and 32.54% Cu Allen, 1982 

  • 1984 Drilling Parr, 1984: Notable intervals include: 

    • 4.14 m – 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb (Drillhole A) 

    • 4.85 m – 29.99 g/t Au, 6,711.3 g/t Ag, 11.0% Cu, and 14.53% Pb (Drillhole B) 

  • 2020-2021 Exploration: A Ag-Au-Pb-Zn-Cu-Sb mineralized system at Gold Mountain identified (see January 13, 2021 and January 4, 2022  news releases) 

    • Five samples returning 1,000 to 6,670 g/t Ag 

    • Eight samples returning 1,260 to 8,220 ppm Sb 

The Property’s mineral-rich history dates back to the 1930s and includes impressive showings of gold, silver, copper, and lead within a trend that spans over 600 meters. Past work has revealed high-grade values across two primary showings, North and South, which are separated by approximately 450 meters of talus—a zone where mineralized boulders suggest continuity of mineralization between the two showings.

The South Showing covers an area of 160 by 50 meters and features five vein exposures in multiple trenches, where high-grade mineralization has previously been sampled, including values up to 30.3 g/t Au, 13,301 g/t Ag and 32.54% Cu (Allen, 1982). These veins trend toward the North Showing, which has been partially exposed by a shallow open cut and an old adit. Exploration during 1982 at the North Showing, near the adit, identified a 1 m wide quartz vein, which returned a grab sample of 4.87 g/t Au, 710 g/t Ag and 1.89% Cu indicating a rich polymetallic presence (Allen, 1982). Together, these showings form a mineralized corridor that remains open at both ends.

Eight shallow backpack style drill holes were completed in 1984 (Parr, 1984), though poor recoveries were noted, results include:

• 4.14 m – 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb

• 4.85 m – 29.99 g/t Au, 6,711.3 g/t Ag, 11% Cu, and 14.53% Pb

Samples collected in 2020 and 2021 confirmed the high-grade mineralization at both the North and South Showings, with five samples returning from 1,000 to 6,670 g/t Ag, and eight samples returning from 1,260 to 8,220 ppm Sb.

Click Image To View Full Size

Figure 1: Historical work overview on Gold Mountain Property

Recent claim additions opened a path for expanded exploration aimed at uncovering the full extent of mineralization along this trend.

  

Share Issuance:

As per the disclosure made March 19, 2025, a final share issuance of 2,000,000 shares has been made to Pegasus Resources Inc., in consideration for receiving the necessary permit. Under the terms of the agreement, the Company was required to make the final share issuance on receipt of permit or at the 12 month anniversary, whichever came first. No further shares will be issued under the agreement. Shares are subject to a statutory 4 month, 1 day hold. The issuance of shares remains subject to exchange and all regulatory approvals. After giving effect to the issuance, the company will have 85,844,873 issued common shares.

 

NI 43-101 Disclosure
The technical information in this news release was prepared and/or reviewed by Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Mr. Christian is non-arms length of the company and serves as Director and CEO.

Some results discussed in this document are historical. Ashley Gold Corp. nor the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project's potential and are relevant for any future exploration program. Management cautions that grab samples are selective in nature, and the assay results may not necessarily represent true underlying mineralization.

 

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 (and the Tak Patents), Howie, 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 J. Komavli, P.Eng, President, Director

 

C: (647) 567-9840

E: info@ashleygoldcorp.com
X: KKomavli

 

-Or-

 

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

  

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. Project timelines are highly dependent on future financing. 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.”