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CALGARY, ALBERTA - November 27, 2025 – TheNewswire - Ashley Gold Corp. (CSE: “ASHL&) (“Ashley& or the “Company&) is pleased to announce that it has closed a first tranche of the proposed financing for gross proceeds of $265,237.56.
On November 13th, 2025, the company opened the financing for proceeds of $530,000.
The closing of the first tranche consists of the following issuance non-flow through (NFT) units and flow through (FT) units, with pricing and breakdown as follows:
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1,578,922 units of FT at $0.095 with a 2 year half warrant at $0.15 for gross proceeds of $149,795.09; and
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1,536,833 units of NFT at $0.075 with a 2 year half warrant at $0.12 for gross proceeds of $115,262.47;
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Management funded $78,750 of the tranche.
Flow-through funds are expected to be used for eligible exploration expenses, including drilling at the company&s permitted projects and will be renounced by the company December 31, 2025. Hard dollar gross proceeds are expected to be used for exploration costs as well as corporate G&A costs.
President Noah Komavli on the raise;
“I want to thank shareholders for their interest and support of the company vision.
Ashley has the right ingredients for a discovery across a strong portfolio of projects in an archean greenstone setting.
The first tranche will allow for execution of the planned scout drill program at the company&s Howie project, with rapid turn around on activity; drilling is expected to occur in early December.
With road access and sufficient surface work completed, we look forward to expanding our model with additional data collection. This exploration season at Howie was very busy, with the largest percentage of labor being diverted to the Howie Project.
Moving from historical occurrences to validated targets to scout drilling in one year represents our drive for discovery.
Management has further aligned with shareholders, following up with another significant investment in this tranche.
I look forward to securing the last tranche and allocating funds towards additional drilling!&
Howie Program Update
Over the spring and summer, the company executed a small stripping campaign on the Main Katisha zone, channeling a high of 20.2 g/t Au over 0.8m. Later, the company channeled the Twilight Zone, returning a weighted average of 0.624 g/t Au over 22.9m.
In early fall, the historic core from 1987 was located, cut and assayed, returning 0.33 g/t Au over 25.74m in proximity to the Twilight Zone.
Due to the complex mineralization and wide spread gold occurrences, the company has proposed a low cost drill program for additional data collection using oriented core.
With a max proposed meterage of 550m, this program is highly capital effective at a projected cost of $137,500.
The main target of this exploration program will be the Gap Zone; this linear anomaly is situated along the East Fault between the Howie and Twilight Zones. The gap zone is host to strong coinciding chargeability and resistivity anomalies. This area has not seen any historical drilling. A proposed shallow fence will be executed over the target. The drill rig will be rotated or re-located, with two scissored holes to follow, targeting the plunge of the Twilight Zone. Final pad locations will be determined based on an upcoming site visit.
Click Image To View Full Size
Image 1: Proposed Pad Location for Fence and Scout Drilling - Relative to IP
The drilling rig will then be moved to another site in proximity to the Howie, and the company expects low de-mobilization costs. Additionally, the company may be able to utilize this rig in the early new year for the proposed Alto-Gardnar program, pending permit and additional funding from tranche 2, again cutting costs on the mobilization fees.
FINANCING TERMS AND USE OF PROCEEDS
The Company announced on November 13, 2025, a non-brokered private placement financing (the “Offering&) for aggregate proceeds of up to $530,000 (CDN) to advance exploration on Ashley&s Ontario and British Columbia gold properties, as well as for general working capital.
The Offering consists of a Non-Flow-Through (NFT) Unit at a price of $0.075. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each full warrant is exercisable for one non-flow through common share, at an exercise price of $0.12 for a term of 24 months after the closing (“Closing Date&).
The Offering also consists of a Flow-Through (FT) Unit at a price of $0.095. Each Unit is comprised of one common share and one-half of one share purchase warrant. Each full warrant is exercisable for one non-flow through common share, at an exercise price of $0.15 for a term of 24 months after the closing (“Closing Date&).
In connection with the Offering, the Company has agreed to pay finder's fees totalling $12,521.00 and issue 137,753 finder's warrants (the "Finder's Warrants"). Each Finder's Warrant entitles the holder to acquire one Common Share of the Company at a price of C$0.075 for a period of 24 months following issuance.
Mr. Darcy Christian, director and CEO of the company purchased 200,000 Units at a cost of $15,000. Mr. Noah Komavli, director and President of the company purchased 100,000 Units at a cost of $7,500, and 1000903966 Ontario Inc., a company under the control and direction of Mr. Komavli, purchased 550,000 Units at a cost of $41,250. Mr. Paul Rozek, CFO of the company purchased 200,000 Units at a cost of $15,000. These participations constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") which would normally be subject to formal valuation and minority shareholder approval requirements but is exempt pursuant to subsections 5.5(a) and 5.7(a) of MI 61-101 as the value of these purchases does not exceed 25% of the Company's market capitalization.
The Common Shares, Warrants and Finder's Warrants are subject to a statutory hold period expiring on the date that is four months and one day upon issuance. The Offering is subject to final CSE Exchange acceptance.
THE EXISTING SHAREHOLDER EXEMPTION AND INVESTMENT DEALER EXEMPTION
The Offering will be made available to existing shareholders of the Company who, as of the close of business on November 13, 2025, held common shares of the Company (and who continue to hold such common shares as of the closing date), pursuant to the prospectus exemption set out in B.C. Instrument 45-534 — Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders and in similar instruments in other jurisdictions in Canada. The existing shareholder exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the existing shareholder exemption exceeding the maximum amount of the financing, the Company intends to adjust the subscriptions received on a pro rata basis.
The Company has also made the Offering available to certain subscribers pursuant to B.C. Instrument 45-536 – Exemption Form Prospectus Requirement for Certain Distributions Through an Investment Dealer. In accordance with the requirements of the investment dealer exemption, the Company confirms that there is no material fact or material change about the Company that has not been generally disclosed.
The Offering is subject to all necessary regulatory approvals including acceptance from the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
Project History - Howie Property
May 1987:
Esso Minerals conducts a two year program on Howie (known as Snake Bay). Historic drilling logs from 1987 detail wide zones of mineralization. Assays redacted. Data Link
November 2022:
Initial surface prospecting and sampling at Main Katisha Shear Zone yielded assay results up to 52.80 g/t Au, validating the zone&s gold potential*. News Link
January 2023:
Planned high-resolution drone magnetics survey to target deeper mineralized zones, inspired by Dynasty Gold&s Thundercloud Project results. News Link
April 2024:
Secured exploration permit and Ontario Junior Exploration Program funding, enabling advanced geophysical surveys and sampling. Junior Mining Network, April 2, 2024
October 2024:
Completed induced polarization (IP) survey over 2 km of lines to define 2025 drill targets for subsurface mineralization. News Link
March 2025:
Reviewed IP survey data, expanded the project by two claims, and identified new targets along strike for further exploration. News Link
May 2025:
Conducted mechanical stripping, outcrop washing, and channel sampling at Katisha Zone, with channel cut assay results up to 20.2 g/t Au, confirming continuity of gold mineralization in a 5-10m-wide deformation zone. Expanded strike with discovery of 1.6 g/t Au sample based on IP data*. News Link
September 2025:
Located the historic Esso core, channel sampling completed at the Twilight Zone outcrop. News Link
Project History - Alto Project
1937:
Gold discovered at Alto-Gardnar 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 0.081 opt, although the discrepancy between the two values is unresolved.
1982:
Ground restaked by K. and M. Bernier, who cut a grid and conducted a ground VLF survey, in addition to resampling historic trenches. (in Berger, op.cit.)
1983:
Report highlighting a strong northeast-southwest striking quartz vein system in Keewatin greenstone intruded by quartz porphyry, with favorable 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 up to 0.37 oz/ton gold. (Report, 1983)
1986:
Loydex Resources Inc. flew airborne magnetometer and EM survey over the area including the Alto-Gardnar shear zone (Terraquest, 1987)
1995:
Champion Bear Resources drilled four diamond drill holes on the Alto-Gardnar property, no data is available (Pryslak and Sears, 1995).
2006:
Gossan Resources conducted a field program involving 340 meters of mechanical stripping, detailed geologic mapping, channel sampling of 273 samples, prospecting, and MMI soil sampling to define the structural controls and extend the shear zone. Results revealed anomalous gold values up to 9.69 g/t primarily in sheared mafic volcanics with quartz stringers and alteration, alongside identification of potential shear extensions up to 2.3 km northeast. Conclusions highlight two styles of gold mineralization—in quartz veins and shear zones—recommending re-assaying for nugget effects, petrographic analysis, and drilling to further 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)
NI 43-101 Disclosure
The technical information in this news release was prepared and reviewed by Darcy Christian, CEO, P.Geo., a Qualified Person as defined in National Instrument 43-101. Mr. Christian is registered as a 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 the qualified person have performed sufficient work or data verification of the historical data. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the Project's potential and are relevant for any future exploration program.
*Management cautions that grab samples are selective in nature, and the assay results may not necessarily represent true underlying mineralization.
ABOUT ASHLEY GOLD CORP.
Ashley Gold Corp. is a Canadian mineral exploration company focussed 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% ownership in Burnthut, Howie, Alto-Gardnar and Santa-Maria claims as well as in British Columbia with the Icefield Portfolio having two highly prospective claim packages.
For more information, please refer to the Company&s information available 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:
X: https://x.com/AshleyGoldCorp
Forward-Looking Statements
This news release includes certain “forward-looking statements& which are not comprised of historical facts. Forward-looking statements are based on assumptions and address future events and conditions, and by their very nature involve inherent risks and uncertainties. Although these statements are based on currently available information, Ashley Gold Corp. provides no assurance that actual results will meet management&s expectations. Factors which cause results to differ materially are set out in the Company&s documents filed on SEDAR+ (www.sedarplus.ca) (www.sedarplus.ca). Undue reliance should not be placed on “forward-looking statements.&
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