Ashley Gold Corp. Announces Phase II Drilling Assays, Highlighting Visible Gold and Confirming Shallow Northern Dip

CALGARY, ALBERTA — August 18, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has announced new assay results from its Phase II drilling program, indicating high-grade visible gold near the surface at its Tak project. The company highlighted that prior operators were unable to determine the dip of the mineralized system, but recent drilling has provided valuable information, suggesting a shallow northern dip. This understanding positions Ashley Gold for more effective future drilling.

President Noah Komavli stated that drill hole TAK-26-08 was the first northern hole drilled in the 67Z zone, providing crucial data on the system's dip. Phase III drilling, with all holes oriented south, has delivered a better representation of the system. These early results reinforce the 67Z geophysical signature as high-priority and confirm the presence of high-grade visible gold close to the surface.

Assays from Phase II and III drilling are still pending for 10 holes. The company provided detailed assay data for various intervals from drill hole TAK-26-08, with several samples showing significant gold concentrations, including intervals with visible gold. Notable results include 3.125 g/t Au over 2.50 m from 30.00 m and 9.2 g/t Au over 0.5 m within a broader interval of 2.179 g/t Au over 7.00 m from 38.75 m.

The Tak Project, situated northeast of the Goliath Gold Complex, has a history of intermittent exploration dating back to the 1900s, with past exploration efforts by companies like Lac Minerals (Barrick) and Cominco (Teck). Within the patented ground, only 11 historic holes were recorded from two operators in 1999 and 2002. After 2002, the project remained idle for 24 years before being acquired by Ashley Gold Corp.

In 2026, Ashley Gold commissioned the first modern Induced Polarization (IP) survey on the Tak Patents, which highlighted a +1km resistive body with two main chargeable units to the north. The company engaged 518 Drilling Ltd. for the drilling program. Three high-priority zones have emerged from exploration: D99Z, 67Z, and NTZ.

The D99Z zone was validated and expanded by a five-hole Phase I program in early 2026, with surface mineralization width already estimated at over 80 meters. The 67Z zone, named by Ashley, includes historic intercepts from 2002 such as 3.08 g/t Au over 7.57 m. In Phase 2, TAK-26-08 was drilled targeting this zone, intercepting visible gold and assaying 0.729 g/t Au over 38.75m. The Northern Trench Zone (NTZ) comprises extensive trenching and a high-grade gold zone discovered through prospecting, with samples assaying up to 398 g/t Au.

Ashley Gold Corp. acquired 100% ownership of the Tak Patents in January 2026. The company has also reported on its winter drilling campaign, engagement of Abitibi Geophysics for an OreVision IP survey, and initial Phase 1 assay results confirming near-surface mineralization in the D99Z zone. Subsequent reports on Phase 1 results for holes TAK-26-02 and TAK-26-03 further confirmed broad width and continuity of the mineralized stockwork system.

The company adheres to rigorous Quality Assurance/Quality Control (QA/QC) protocols, including the insertion of check samples, blanks, and certified standards. All samples are analyzed by Activation Laboratories (ActLabs) in Dryden, Ontario, using industry-standard fire assay methods. The technical information in the news release was reviewed and approved by Shannon Baird, P.Geo., Exploration Manager of Ashley Gold Corp. and a Qualified Person as defined in National Instrument 43-101. It was noted that some results discussed are historical and have not been verified by the company, but are believed to indicate the project's potential.

Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing prospective gold and polymetallic deposits in Canada. Its flagship assets include the Burnthut project in Ontario, which includes the Tak Patents, and its Icefield Portfolio in British Columbia.

Source: Ashley Gold Corp.