Ashley Gold Corp. Closes Financings, Raises $807,565

Calgary, Alberta — March 11, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has closed its previously announced financings, raising gross proceeds of $807,565.

The financings include $500,005 from charity flow-through financing (CFT), with Units priced at $0.11 with a 3 year 1/2 warrant at $0.12, for 4,545,500 Units, and $307,560 from the non-flow-through financing (NFT), with Units priced at $0.08 with a 3 year 1/2 warrant at $0.12, for 3,844,500 Units. After the capital raise, the company will have 83,844,873 issued common shares.

The company has completed a 2D IP survey and line cutting over the patented claims, and 3D inversion processing is set to commence. Trail clearing and pad building work are also set to commence, with Perron Contracting engaged. The starter program will involve up to 2,000m in 10 holes. 518 Drilling Ltd. is scheduled to move equipment to the site during the week of March 23, 2026.

President Noah Komavli stated that the company welcomes new shareholders and looks forward to sharing updates. He noted that the company has now executed two back-to-back financings that have raised the bar in terms of maximum proceeds raised.

Komavli added that with pending data compilation from the 3D IP survey, as well as pending diamond drill crew mobilization, this capital raise will allow Ashley to gather meaningful results. The company expects equipment to be on the ground by mid/late March, with the drill program commencing towards the end of the month. At the same time, pad building and trail clearing will kick off.

Management is further aligned with shareholders, with Darcy Christian and Komavli participating for gross proceeds of $140,000.

The Units were offered for sale pursuant to the Listed Issuer Financing Exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions (“NI 45-106”). As amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption and Section 2.3 of the Offering was made in all provinces of Canada (except Quebec) and other qualifying jurisdictions, including the United States. The Units offered under the Listed Issuer Financing Exemption will be immediately "free-trading" under applicable Canadian securities laws.

The offering document related to this Offering can be accessed under the Company's profile at www.sedarplus.ca and at the Company's website. In connection with the Offering, the Company entered into an Advisory Agreement with Research Capital Corporation (the "Advisor"), pursuant to which the Advisor provided financial advisory, consulting, and support services in connection with the Offering. In consideration for the Advisory Services, the Company will pay the Advisor a work fee equal to $25,000 (the "Fee") and issue 325,000 advisor shares (the "Advisor Shares") at a deemed price of $0.08 per Advisor Share. The Advisor Shares will be subject to a four month and one day hold period in accordance with Canadian securities laws. In connection with the Offering, commissions of $53,696 will be paid. A total of 671,200 Broker Warrants will be issued at a deemed price of $0.08.

The Finder Warrants and the Advisor Shares are subject to a four month and a day hold period pursuant to applicable Canadian Securities Laws.

The proceeds will be used to advance exploration on Ashley’s Ontario and British Columbia gold properties, as well as for general working capital. Charity flow through funds will be renounced by December 31, 2026 and are expected to be used for drilling on the Tak Patents.

2676467 Alberta Ltd., under the control of Mr. Darcy Christian, director and CEO of the Company, purchased 486,750 Units at a cost of $37,500. Mr. Noah Komavli, director and President of the Company, purchased 312,500 Units at a cost of $25,000. 1000903966 Ontario Inc., a company under the control and direction of Mr. Komavli, purchased 968,750 Units at a cost of $77,500. These participations constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") which would normally be subject to formal valuation and minority shareholder approval requirements but is exempt pursuant to subsections 5.5(a) and 5.7(a) of MI 61-101 as the value of these purchases does not exceed 25% of the Company's market capitalization.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing 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.

Source: Ashley Gold Corp.