Ashley Gold Corp. Closes Final Tranche of Private Placement, Raising Total of CDN$447,831.59

CALGARY, ALBERTA — August 1, 2026 — Leads & Copy — Ashley Gold Corp. has successfully closed the second and final tranche of its non-brokered private placement, raising aggregate gross proceeds of CDN$447,831.59. The final tranche raised CDN$72,797.58, bringing the total proceeds from the offering to the announced amount.

The second tranche included the issuance of 769,232 critical mineral flow-through units (CFT Units) at CDN$0.065 per unit for gross proceeds of CDN$50,000.08, and 414,500 non-flow-through units (NFT Units) at CDN$0.055 per unit for gross proceeds of CDN$22,797.50.

Each CFT Unit comprises one common share issued as a flow-through share and one-half of a common share purchase warrant. Each NFT Unit consists of one common share and one-half of a common share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at CDN$0.10 for a period of 24 months from the closing date. The shares issued upon warrant exercise will be non-flow-through.

Proceeds from the CFT Units will fund eligible Canadian exploration expenses qualifying as “flow-through critical mineral mining expenditures” under the Income Tax Act (Canada), including drilling at the Company's gold projects in Ontario. Ashley Gold Corp. will renounce these expenditures, with an effective date no later than December 31, 2026, and will incur them by December 31, 2027. Proceeds from the NFT Units will be used for general and administrative expenses and working capital.

In connection with the second tranche, the Company paid CDN$5,823.81 in cash commissions and finder fees and issued 94,698 finder warrants. These warrants are exercisable to acquire one common share at CDN$0.065 for 24 months from the closing date of the second tranche.

All securities issued in the second tranche are subject to a four-month-and-one-day statutory hold period, expiring on December 1, 2026. The offering is pending final acceptance by the Canadian Securities Exchange. Following the offering, Ashley Gold Corp. has 101,568,386 common shares outstanding. No insiders subscribed for securities in the second tranche, and no new control person was created.

Technical information in the news release was reviewed by Darcy Christian, P.Geo., a Qualified Person under National Instrument 43-101, who is registered with Engineers Geoscientists of Alberta. Mr. Christian is a Director and CEO of the company. Some results discussed are historical and have not undergone sufficient work or data verification by the company or the qualified person, but the company believes they indicate the project's potential for future exploration.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing prospective gold and polymetallic deposits in Canadian mining regions. The Company's flagship assets include the Burnthut, Howie, and Alto-Gardnar claims in the Dryden Area, Ontario, and the Icefield Portfolio in British Columbia.