Ashley Gold samples 22.2 g/t Au at Tak project

Nov 3, 2026

2026-11-03 10:32 ET – News Release

Mr. Noah Komavli reports

ASHLEY GOLD CORP. REPORTS ADDITIONAL STRONG INDICATORS ON THE TAK PROJECT, COMPLETES HIGH RESOLUTION LIDAR AND DRONE MAGNETIC SURVEYS AHEAD OF WINTER DRILL PROGRAM

Ashley Gold Corp. has provided an exploration and geophysics update on the Tak project. Core logging confirms early visuals shared to the markets on Oct. 15, 2026.

President Noah Komavli on the upcoming program: “Phase IV delivered strong indicators both at surface and in core, and the lidar and tightly spaced drone mag will further assist us with the structure behind them. Once all surveys and assays are in hand, we’ll be expanding our understanding of the system with an estimated 2,000 metres this winter.”

What:

Additional strong indicators of mineralization across the Tak patents, including grab sample highs of 22.2 grams per tonne Au (gold) east of the D99Z, grab sample highs of 3.43 per cent Cu in the newly identified Tic Tak zone, and suspected visible gold in four of 10 phase IV holes (TAK-26-17, TAK-26-21, TAK-26-22, TAK-26-25b).
Completion of lidar and drone magnetic surveys with tightly spaced lines, including 25 m line spacing on the magnetic survey.

Importance:

High-resolution lidar and magnetic data are expected to provide the company’s most detailed picture to date of the structures, contacts and quartz-feldspar porphyry-hosted stockwork systems controlling mineralization between the 67Z and D99Z, and across new areas such as the NTZ.

Next steps:

Receipt of final processed lidar and drone magnetic survey data;
Completion of logging and cutting of phase IV holes and receipt of all pending assays;
Integration of all survey, assay and field data to guide the winter drill program, with the company estimating allocation of 2,000 metres.

Geophysics program

Ashley engaged Pioneer Exploration Consultants Ltd. to fly a lidar survey across the Tak and Alto-Gardnar projects. Lidar produces a detailed bare-earth model of the surface, revealing fault traces, lineaments and outcrop ridges obscured by vegetation and overburden.

Rosor Exploration Ltd. completed a drone magnetic survey on 25 m line spacing over 77.3 LKM. The tight line spacing provides detailed resolution of magnetic contrasts associated with structure, alteration and lithological changes, which are key controls on gold mineralization along the larger regional trend shared with the adjoining NexGold Goliath gold complex. In particular, magnetic data will be key in highlighting untested or deep zones within the resistive portion of the QFP, where drilling to date has intercepted varying degrees of pyrite rich strong alteration zones, returning some of the highest-grade intervals thus far.

Both surveys have been executed and the company is awaiting final data.

Winter drill program

Target example mineralization in phase IV drilling has been intercepted at the deepest location to date (approximately 147.5 metres) in TAK-26-21 (Bernie zone). This interval is part of a greater zone of interest, with suspected visible gold and sulphides within altered QFP, as well as quartz-carbonate micro-fracture infill.

Receipt of all surveys and assays will guide the company’s winter drill program, with 2,000 m or more allocated and funded. Targets will be prioritized using the combined geophysical, geochemical and drilling data sets, with a focus on continuing to advance the unification of the 67Z and D99Z into a single mineralized system, and testing new targets including Bernie zone depth extensions (residing between the 67Z and D99Z — assays pending).

Tak project — background

Situated abutting the northeast of the Goliath gold complex, the Tak patents have been the subject of intermittent exploration efforts from the 1900s, with legendary companies like Lac Minerals (Barrick) and Cominco (Teck) exploring in and around the patented ground. Within the patented boundary, only 11 historic holes were ever recorded from two operators — in 1999 and 2002. After 2002, the project sat idle for 24 years until acquired by the company. Ashley acquired 100-per-cent ownership of the Tak patents on Jan. 6, 2026, through an all-stock transaction for 3.5 million shares.

NI 43-101 disclosure

The technical information in this news release was reviewed and approved by Shannon Baird, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Baird is exploration manager of Ashley Gold and registered as a professional geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.

Core visuals are preliminary in nature and may not be representative of the drill hole or the property in its entirety. Early visuals are awaiting lab assay confirmation.

About Ashley Gold Corp.

Ashley Gold 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-per-cent ownership in Santa-Maria, Burnthut (including the Tak patents), Howie and Alto-Gardnar claims, as well as in British Columbia with the Icefield portfolio having two highly prospective claim packages.

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https://ashleygoldcorp.com/