CALGARY, ALBERTA — January 8, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has announced a value-added transaction related to its Dryden Area assets. The company will issue 400,000 shares to set Net Smelter Returns (NSRs) from the project vendor to 0% for relevant projects including the Howie Project and the Burnthut Main Block. This acquisition is arms length.
Ashley Gold’s Ontario projects with outstanding NSRs include the Santa-Maria Project (1.75%), Burnthut North Block (1%), Burnthut Island (1%), and Alto-Gardnar (0.5%).
President Noah Komavli stated that resetting the NSRs to zero will make these projects increasingly attractive as the company continues to advance them through exploration efforts. He added that the transaction opens the door for Ashley to retain an NSR in the event of streamlining its portfolio. The entire Howie project and the main claims at Burnthut, on strike of the recently acquired Tak Patents, will have a 0% NSR.
Komavli thanked the vendor for their continued interest and long-term view of Ashley Gold Corp.
Core cutting has commenced at the Howie project in early January, following drilling in late 2025. Assays are soon to be pending. The Howie project borders Dynasty Gold’s Thundercloud Project, which hosts the Pelham Deposit. Ashley’s 4-hole campaign tested the Twilight-Gap anomaly, intersecting various lithologies including gabbro, breccia flows, quartz veins, QFP, shear zones, and carbonate breccia, confirming significant geological events and fluid movement through the property.
The original Burnthut claims and the East Block will have the vendor NSR set to zero. A prior NSR will remain on Burnthut Island, 2 cells (1.0% with buyback conditions). The Tak Patents and the Burnthut Main Block are located adjoining and along strike of NexGold Mining Corp.’s Goliath Gold Complex, and part of the claims include the Wedge Zone, a historic occurrence extending outside of the Tak Patents, into the Western edge of the Burnthut Claims.
The proposed acquisition is subject to all exchange and regulatory approvals. The 400,000 common shares issued are subject to a 4-month hold ($0.075 per share).
Ashley Gold also announced the issuance of 1,500,000 options at a price of $0.075 with a three-year expiry to management, directors, and contractors. These options are subject to a 4-month and 1-day hold. Additionally, the Board has approved the cancellation of 925,337 options, none of which were for management or directors.
Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101, prepared and/or reviewed the technical information in the news release. Mr. Christian serves as Director and CEO of the company.
Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing gold and polymetallic deposits in Canada. The Company’s flagship assets are in the Dryden Area in Ontario and in British Columbia with the Icefield Portfolio.
Contact Information:
Noah J. Komavli, P.Eng, President, Director
C: (647) 567-9840
E: info@ashleygoldcorp.com
X: KKomavli
Darcy Christian, P.Geo, CEO
C: (587) 777-9072
E: dchristian@ashleygoldcorp.com
Source: Ashley Gold Corp.
