Ashley Gold Corp. Announces Receipt of Assays, Sample Values Delineate Wide Gold Bearing Corridor at Burnthut Project

(TheNewswire)

Calgary, Alberta – TheNewswire –July 9, 2025 - Ashley GoldCorp. (CSE: “ASHL”) (“Ashley”or the “Company”) is pleased to announce receipt ofassays from a ground sampling and mapping program, announced June 6th,2025.

Highlights:

Omega ExtensionDiscovery: A continuation of the Omega Zone,25-50 meters inland from the shoreline, was discovered with a 10-meterwide altered tuff unit hosting quartz veinlets and up to 3% pyrite.These findings are consistent with previous core results from BH-01,which returned up to 3 g/t Au over 2m.

Inland Mineralization: The inland areas along the Omega, Alpha, and Oro Grande Westzones show promising gold potential, with altered tuff and pyriteconcentrations observed. This could signify a continuous gold-bearingsystem extending inland from the shoreline.

Big Zone Discovery: A 20-30 meter wide deformation zone was identified on thewest side of the peninsula, with a 1-meter wide quartz vein andsignificant pyrite and malachite mineralization. The zone's severeshearing and quartz vein presence suggest the area could be host tosubstantial mineralization.

These encouraging results highlight the strongpotential for further gold discoveries, and the exploration team isexcited to continue advancing these findings with follow-upwork.

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Figure 1: Burnthut, North-EastPeninsula

"We are very encouraged by the recent explorationresults from the Burnthut Peninsula," states President NoahKomavli. "The discovery of the Omega Extension, with significantpyrite and quartz veinlets, further supports the potential of thearea. Additionally, the identification of the Big Zone on the westside of the peninsula, assaying with 0.7 g/t gold content even inhighly weathered rock where sulphides have been leached out, isparticularly significant. These findings, along with the inlandmineralization observed, are strong indicators that we’re on theright track."

"Burnthut is showing early hallmarks of scale,with our exploration uncovering another parallel, stacked structurethat adds width from 400 meters to 150 meters away from the originalOro Grande South zone. Further grab samples have extended theprospective strike to 650 meters. This project remains an importantasset, with the exploration team currently focused on just 1/15th ofthe overall prospective strike along the Ruby Island fault system.These claims remain open for further discovery,and we will now focus on permitting for shallow drilling as well asconducting induced polarization (IP) surveys to guide futureexploration programs. Due to the thick moss cover across the area, IPwill be critical to guiding our exploration efforts movingforward."

Program Results

Table 1: Assay
Results and Description

Omega Extension

An inland continuation of altered tuff resembling the
Omega Zone was discovered approximately 25 - 50 m inland from the
shoreline. The surface expression corresponds well to where BH – 01
cored anomalous, up to 3 g/t Au over 2m approximately 40 m down hole.
Although no wide quartz veining was seen, the tuff hosts multiple
quartz veinlets up to 5 mm in width. The wall rock itself contains up
to 3 % pyrite as cubes. The altered unit is approximately 10 m in
width.

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Figure 02: Inland OmegaExtension

Omega Zone

The inland extension of the Oro Grande West and AlphaZones in terms of quartz veining was not seen inland, however aprominent ridge approximately 50 m inland provides good bedrockexposure. Altered tuff is seen for approximately 25 m in width alongthis exposure. The tuff unit is well silicified and in places carriespy up to 2 % as cubes.

Multiple traverses inland on strike of the Omega, Alphaand Oro Grande West were carried out to prospect for mineralized rocksthat may be responsible for the VLF conductors. The inland area hostsnumerous outcrops, however very little to no bedrock exposure existsdue to a thick moss carpeting the outcrops. Many showings could existinland.

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Figure 03: Omega Zone Samplesreturned 590-690 ppb Au

Big Zone

An effort was made to discover parallel mineralizeddeformation zones on the west side of the peninsula and on strike tothe west of the eastern zones (Alpha, Omega, Oro West, and OroSouth).

A 20-30 m wide deformation zone hosted in a tuff unittrends 260 degrees and dips to north at 60-70 degrees. The zone isintensely sheared, more so than any other deformation zone thus farlocated on the Burnthut Peninsula. A 1 m wide quartz vein wasdiscovered in the centre of the shear zone; the vein is white in colorand contains chloritic wall rock wisps and selvages. Trace pyrite andmalachite are randomly distributed as coarse cubes that have adistinct black tarnish. A few large quartz blocks were spotted onstrike underwater.

A few slabs of rock were dug out going uphill whichdisplayed a rotten appearance. The rock is severely weathered andbrittle. 1-inch-wide sugary quartz veins are dispersed through therock which contains what would appear to be 5-10 pyrite cuberemnants.

Again, the pyrite cubes that are in place are tarnishedblack.

Two other narrow 6-inch-wide quartz veins were locatedalong the shore further south on the west side of the peninsula. Theyare hosted in narrow shear zones (approximately 1 m wide) in tuffunits. The quartz veins are identical in appearance to the Oro Southshowing.

Figure 04: Big Zone Vein - SamplesReturned up to 720 ppb Au

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Figure 05: Big Zone Vein

About the Burnthut

The Burnthut Property is one of Ashley’s promisingDryden Area assets. Sporadic exploration has occurred for over acentury, being kicked off by a 50ft shaft being sunk in the late1800’s. Ashley Gold completed many milestones in 2024, with adiscovery, permitting, and funding aimed at testing the system atdepth. Ashley has continued exploration into 2025, focused ondeepening an understanding of the geological system.

• Property Acquisition: 

  • Ashley successfully acquired 100% ownership of theBurnthut Property, located southwest of Sioux Lookout, Ontario, ontrend with the Treasury Metals (now NexGold) Goliath-Goldlunddeposit. 

• Oro Grande Zone Discovery: 

  • Spring 2023 sampling led to the discovery of the OroGrande Zone, where high-grade sampling results were achieved up to59.5 g/t Au from grab samples*. 

  • The Oro Grande Zone extends for 75 meters on themainland before trending under cover. This mineralized zone is nowassociated with a VLF anomaly that spans 700 meters to the west,enhancing its potential for further exploration. 

• New Parallel Zone (Oro-Grande West): 

  • A new parallel deformation zone, dubbed Oro GrandeWest, was discovered in 2024. Grab samples from this zone returnedgrades of up to 31.9 g/t Au*. 

  • The high-grade parallel nature of the Oro and Oro Westzones, along with the expanded strike length of the Oro Grande system,has positioned Burnthut as a major exploration target for thecompany. 

  • Further VLF anomalies exist across the property andwarrant follow up based on the grab sample values. 

• Burnthut Expansion: 

  • Expanded to the North-East on March 18, 2025, capturinga regional fault convergence. 

  • Consolidated possible down dip with follow uptransaction. 

• New Parallel Zone (Big Zone): 

  • During mapping and sampling initiated June 6th, 2025,the team identified another parallel zone. This weathered vein assayedup to 0.72 g/t Au from grab samples*. 

Debt Settlement

The Company has issued a release settlement with San
Rafael LLC pertaining to the Sahara Option Agreement. In connection
with the release, Ashley will issue 2,631,838 common shares of the
Corporation for gross proceeds of USD $84,427.61. The settlement is
pending exchange approval, and the securities will be subject to a
customary 4 month 1 day hold.

*Grab samples are selective samples, and the assay
results may not necessarily represent true underlying
mineralization.

Qualified Person

The technical and scientific information in this news
release has been reviewed and approved by Darcy Christian, P.Geo.,
CEO of Ashley, who is a Qualified Person as defined by NI 43-101.

About Ashley Gold Corp.

Ashley Gold Corp. is focused on discovering world-class
gold deposits through innovative and efficient exploration.

In the Dryden area of Ontario, the Company holds 100%
interest in the Burnthut Property (1.5% NSR), Tabor Lake Lease (1.5%
royalty), Howie Lake Project (0.5% royalty), Alto-Gardnar Project
(0.5% royalty), and Santa Maria Project (1.75% royalty), with an
option to earn 100% of the Sakoose claims (1.5% NSR). In BC, Ashley
holds the Icefield Portfolio, a group of three highly prospective
claim packages along the BC/Alberta border. Each project is highly
prospective for polymetallic systems.

Operating in mining-friendly jurisdictions, Ashley is
dedicated to creating long-term value for shareholders.

For more information, visit:
www.ashleygoldcorp.com.

Contact Information

On behalf of the Board of Directors,

Noah J. Komavli, 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-lookingstatements” which are not comprised of historical facts.Forward-looking statements are based on assumptions and address futureevents and conditions, and by their very nature involve inherent risksand uncertainties. 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-lookingstatements.”

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