Ashley Gold Corp. Closes Oversubscribed Critical Mineral Flow-Through Private Placement

CALGARY, ALBERTA — June 23, 2026 — Leads & Copy — Ashley Gold Corp. has successfully closed a non-brokered critical mineral flow-through private placement, raising CDN$487,510.02 in aggregate gross proceeds. The offering, which was oversubscribed, saw investor demand exceed the final closing amount, indicating strong interest in the company's developing projects.

The private placement involved the issuance of 8,125,167 critical mineral flow-through common shares at a price of $0.06 per share. These shares are designated as “flow-through shares” under subsection 66(15) of the Income Tax Act (Canada).

Proceeds from the sale of these shares are earmarked for eligible “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures.” These funds will primarily support drilling and exploration activities at the Company's critical minerals projects located in Ontario.

Ashley Gold Corp. plans to renounce the Qualifying Expenditures to the subscribers of the flow-through shares with an effective date no later than December 31, 2026. The expenditures themselves are to be incurred on or before December 31, 2027, in compliance with the Income Tax Act (Canada).

In connection with the offering, the Company disbursed CDN$35,260.80 in cash commissions and issued 412,680 finder warrants. Each finder warrant grants the holder the right to acquire one common share of Ashley Gold Corp. at an exercise price of $0.06, with a validity period of 24 months from the closing date of the offering.

The offering was conducted under specific prospectus exemptions, including the Existing Shareholder Exemption and the Investment Dealer Exemption. Ashley Gold Corp. confirmed that there are no undisclosed material facts or changes pertaining to the company. Following the completion of the offering, the Company's issued and outstanding common shares total 94,475,040.

Ashley Gold Corp. is a Canadian mineral exploration company focused on the acquisition and development of gold and polymetallic deposits in key Canadian mining regions. Its flagship assets are situated in the Dryden Area of Ontario, comprising 100% ownership of the Burnthut (and the Tak Patents), Howie, and Alto-Gardnar claims. Additionally, the Company has optioned out the Icefield Portfolio in British Columbia, consisting of two prospective claim packages.

The offering is subject to final acceptance by the Canadian Securities Exchange (CSE) and all issued securities will be subject to a four-month hold period from their respective closing dates, in addition to other applicable securities law restrictions.