Ashley Gold Corp. has returned assay results from Phase II exploratory drilling at the Burnthut project in Ontario, highlighted by hole TAK-26-06 delivering 0.460 g/t gold over 25.50 metres from 6.50 metres downhole.

The interval includes a higher-grade intercept of 9.560 g/t gold over 0.50 metres starting at 30.75 metres downhole. Hole TAK-26-06 was collared between the 67Z and D99Z zones over 150 metres east of the 67Z zone. Drilling identified near-surface bleached alteration consistent with the high-grade domain observed at the 67Z zone.

Ashley Gold acquired 100% ownership of the Tak Patents on January 6, 2026, through an all-stock transaction for 3.5 million shares. The property is subject to a 5% Net Smelter Return royalty held by Royal Gold Inc., which carries a 2.5% buyback option for $1 million. The patented ground abuts the northeast boundary of NexGold Mining Corp.’s Goliath Gold Complex in northwestern Ontario.

“Our 100% hit rate of gold values above standard industry cut-offs continues. This exploratory hole was drilled to target the depth extensions of two historically worked trenches with grab sample highs of ~3 g/t Au [Triex, 1999, Trench 4]. Ultimately, the hole was a success, highlighting a level of continuity - not just from the trenches to depth, but from the 67Z - a significant step - as we work toward unifying the Tak zones in one continuous mineralized body. Noting bleached alteration consistent with elevated gold values in the 67Z, 150m east, is a significant step forward for the Company. With a deepened understanding of the system, gained from Phase III drilling, we will follow-up on the 67Z trend North-East of our last holes. Drill plans will be finalized over the coming weeks prior to mobilization.”

— Noah Komavli, President

Assay results remain pending for one remaining Phase II drill hole, designated TAK-26-09, alongside seven Phase III holes at the Burnthut project. Following the current logging and analysis phase, Ashley Gold plans to initiate a Phase IV drill campaign comprising 500 to 600 metres across seven holes. This upcoming program is designed to infill between the 67Z and D99Z zones and extend the mineralized horizon easterly, supported by adjusted drill orientations to encapsulate newly identified surface trends.

Read the full announcement: Ashley Gold Corp. Announces Result of Exploratory Hole Between the 67Z and D99Z, Phase II TAK-26-06, Delivers 0.460 g/t Au over 25.50m from 6.50m Downhole, Including an Intercept of 9.560 g/t Au over 0.50m, 30.75m Downhole