Ashley Gold Corp. Reports Promising Copper and Gold Intercepts from Tak Project

CALGARY, ALBERTA — October 22, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has announced promising results from its field prospecting and drilling operations at its Tak Project, located northeast of the Goliath Gold Complex in Ontario. The company reported significant copper and gold mineralization, with the potential to unify previously identified gold-bearing zones.

Recent prospecting in the newly identified Tic Tak Zone yielded grab sample highs of 3.43% copper, indicating the presence of base metals in substantial percentages north of the patented ground. This discovery highlights the historical interest in the area, with past operators like Cominco (Teck) having explored the region.

The drilling update revealed that four out of ten completed holes in the infill program between the 67Z and D99Z zones intercepted suspected visual gold. These holes, TAK-26-17, TAK-26-21, TAK-26-22, and TAK-26-25b, are undergoing logging and assaying to confirm the findings. All ten holes encountered varying degrees of mineralized quartz-feldspar porphyry (QFP) and stockwork systems.

One hole, TAK-26-25a, was re-collared as TAK-26-25b and returned suspected visible gold in two locations at approximately 16 meters and 18 meters downhole. These visual results have exceeded the company's expectations for the unification of the 67Z and D99Z gold-bearing zones. The Bernie Zone, situated between these two areas, is also being assessed for its potential to connect them into a single mineralized system.

The Tak Project has a long history of exploration dating back to the 1940s, with notable efforts by companies such as Long Lac Minerals (Mosher Long Lac Gold Mines Ltd.), Cominco (Teck), Triex Resources, and Southern Rio Resources (Barrick). These past explorations identified gold mineralization in QFP, stockwork quartz-carbonate veining, and visible gold.

Ashley Gold Corp. acquired 100% ownership of the Tak Patents in January 2026. The company has since commissioned its first modern IP survey, which identified a kilometer-long resistive body with chargeable units to the north. This has guided exploration efforts, leading to the emergence of three high-priority zones: D99Z, 67Z, and NTZ.

The D99Z zone has shown mineralization widths estimated at over 80 meters, validating and expanding earlier results. The 67Z zone, historically identified with significant gold intercepts, has also seen promising results from Ashley's drilling, including a discovery in 67Z East (TAK-26-16) that returned 3.333 g/t Au over 60.0m, including a high-grade interval of 229 g/t Au over 0.65m.

The Northern Trench Zone (NTZ) exhibits no drilling records but shows extensive trenching, with high-grade gold zones sampled up to 398 g/t Au and a surface expression traced for over 300 meters.

Next steps for Ashley Gold Corp. include completing the logging and cutting of Phase IV holes, and receiving all pending assays to finalize data for a fully funded Winter program. The company also noted that some discussed results are historical and may not be fully reliable, but they provide an indication of the project's potential.

Source: Ashley Gold Corp.