(TheNewswire)

CALGARY, ALBERTA – TheNewswire - March 25, 2026 - Ashley Gold Corp. (CSE:“ASHL”) (“Ashley” or the “Company”) is pleased to share an operational update relatedto its Alto-Gardnar project.

Highlights:

• Permitted for up to 13 pads, line cutting and IP surveys

President Noah Komavli; “TheAlto-Gardnar project has seen significant historical surface work andlimited drilling. Prior operators looked at the system as a low grade,bulk ton target. Given our high grade findings in the fall 2025channeling program, which included 130 g/t Au over 1.0m, this project warrants further attentionand scout drilling to probe the high grade zone at depth. The pairingof the permitted IP survey will allow efficient exploration andgreater resolution outside the stripped area.”

CEO Darcy Christian on the recent permit; “We have reached a significant milestonein our portfolio, with every Ontarian project now permitted, and ourBC portfolio partially permitted with Vertebrae Ridge being the onlyproject pending issuance. This gives our Company a unique edge andincreased flexibility in terms of future planning. We will now alsolook at expanding our permit at the Burnthut to include IP linesoutside the Tak Patents.”

Alto-Gardnar Project

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Image 1: Regional Map, InsetAlto-Gardnar Shear Facing North-East

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Image 2: Alto-Gardnar Shear, FacingSouth-West

Project History - Alto Project

1937:

Gold discovered at Alto-Gardner by l.W. Alto and W. Gardnar (Berger, 1989).

1940:

Sandybeach Lake Syndicate; stripping, trenching, bulk sampling,including 125-ton bulk sample from an open cut with a reported grade of 0.231 ounces per ton(opt). In 1943, Satterly (in Berger, op.cit.) reported the bulk sample ran 0.081opt, although the discrepancy between the two values isunresolved.

1982:

Ground restaked by K. and M. Bernier, who cut a grid and conducted aground VLF survey, in addition to resampling historic trenches. (inBerger, op.cit.)

1983:

Report highlighting a strong northeast-southwest striking quartz veinsystem in Keewatin greenstone intruded by quartz porphyry, withfavorable geology for gold mineralization similar to nearby deposits.The main vein extends over 1,000 feet with widths up to 24 feet,showing visible gold, pyrite, chalcopyrite, and commercial assays upto 0.37 oz/ton gold. (Report, 1983)

1986:

Loydex Resources Inc. flew airborne magnetometer and EM survey overthe area including the Alto-Gardnar shear zone (Terraquest, 1987)

1995:

Champion Bear Resources drilled four diamond drill holes on theAlto-Gardnar property (Pryslak and Sears, 1995).

2006:

Gossan Resources conducted a field program involving 340 meters ofmechanical stripping, detailed geologic mapping, channel sampling of273 samples, prospecting, and MMI soil sampling to define thestructural controls and extend the shear zone. Results revealedanomalous gold values up to 9.69 g/t primarily in sheared maficvolcanics with quartz stringers and alteration, alongsideidentification of potential shear extensions up to 2.3 km northeast.Conclusions highlight two styles ofgold mineralization—in quartz veins and shear zones—recommendingre-assaying for nugget effects, petrographic analysis, and drilling tofurther evaluate the property's potential.

October 2022:

Ashley acquires the Alto-Gardnar project.

May 2024:

Ashley Gold Discovers New Vein at Alto-Gardnar Assaying 106 g/t Au.(News Link)

November 2025

Ashley Gold channels the high-grade zone, cutting 130 g/t Au over1.0m. (News Link)

43-101 Disclosure

The technical information in this news release was prepared andreviewed by Darcy Christian, CEO, P.Geo., a Qualified Person asdefined in National Instrument 43-101. Mr. Christian is registered asa Professional Geoscientist with Engineers Geoscientists of Alberta.Mr. Christian is non-independent of Ashley Gold Corp.

Some results discussed in this document are historical. Ashley nor thequalified person have performed sufficient work or data verificationof the historical data. Although the historical results may not bereliable, the Company nevertheless believes that they provide anindication of the Project's potential and are relevant for anyfuture exploration program.

*Management cautions that grab samples are selective in nature, andthe assay results may not necessarily represent true underlyingmineralization.

ABOUT ASHLEY GOLD CORP.

Ashley Gold Corp. is a Canadian mineral exploration company focused onacquiring and developing highly prospective gold and polymetallicdeposits in Canada’s top mining regions. The Company’s flagshipassets are in the Dryden Area in Ontario with a 100% ownership inSanta-Maria, Burnthut (including the Tak Patents), Howie, Alto-Gardnarclaims as well as in British Columbia with the Icefield Portfoliohaving two highly prospective claim packages.

For more information, please refer to the Company’s informationavailable on SEDAR+ (www.sedarplus.ca), or visit us at www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, P.Eng, President,Director

C: (647) 567-9840

E: info@ashleygoldcorp.com

X: KKomavli

-Or-

Darcy Christian, P.Geo, CEO

C: (587) 777-9072

E: dchristian@ashleygoldcorp.com

Connect With Ashley:

www.ashleygoldcorp.com

X: https://x.com/AshleyGoldCorp

Forward-Looking Statements

This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-lookingstatements are based on assumptions and address future events andconditions, and by their very nature involve inherent risks anduncertainties. Although these statements are based on currentlyavailable information, Ashley Gold Corp. provides no assurance thatactual results will meet management’s expectations. Factors whichcause results to differ materially are set out in the Company’sdocuments filed on SEDAR+ (www.sedarplus.ca) (www.sedarplus.ca). Unduereliance should not be placed on “forward-looking statements.”

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