Ashley Gold signs option exclusivity agreement for Icefield Portfolio sale at $1.475M min consideration

    CALGARY, ALBERTA - June 5, 2026 – TheNewswire - Ashley Gold Corp. (CSE: “ASHL”) (“ Ashley ” or the “ Company ”) is pleased to share a strategic update regarding its British Columbia portfolio.   Highlights: $25,000.00 in cash for option period exclusivity (to be paid),  $50,000.00 in cash on exercise,  $1,300,000.00 in equity within 12 months of exercise notice,  $100,000.00 in cash on listing or re-admission of a listed company,  Option exclusivity period can be extended by 3 months with payment of $25,000.00,  Optionee to fulfill upcoming work requirements,  DGRM 2% NSR and conditions to be enforced.    President Noah Komavli; “I am happy to deliver this update, re-aligning Ashley’s focus back to the Eagle-Wabigoon belt, while maintaining significant equity ownership in a new company. The terms are simple and outlined above for full transparency. The transaction is quite lucrative to Ashley, allowing significant ownership of a new company or listed entity, as well as padding the assets side of our balance sheet.

Overall, when completed, the transaction could result in a ~170% return based on our acquisition costs.“   About the Icefield Property The Icefield portfolio was acquired by Ashley in March 2025 for 6,000,000 common shares, with a final payment of 2,000,000 shares on the 12 month anniversary or on receipt of drill permit, whichever occurred first. The drill permit was received in early March 2026, and the final shares issued. The net acquisition cost of the property in equity issued is $510,000.00 plus $33,768.00 in work completed, as per audited financials at 2025 year end.   About the Transaction Ashley has entered into a thirty day Option Exclusivity period with the Optioner for a consideration of $25,000, with the option to extend three months for an additional $25,000.  On Exercise Notice the Optioner will pay $50,000 with an additional $100,000 to be paid on listing or readmission of New Company (NewCo) to an exchange.

Within twelve months of Option exercise Ashley will receive $1.3 million in equity of the NewCo.  The Optioner will be responsible for all costs related to management and work requirement of the claims from signing of the Option Exclusivity.  The existing 2% Net Smelter Royalty royalty shall survive the exercise of the Option and terms shall remain in full force and effect against the Property thereafter.   All dollar amounts are in Canadian dollars and completion of agreement will be subject to regulatory approvals.   There are no shares of Ashley to be issued as part of the agreement and no finder fees payable to any parties.   The overall proposed transaction, at book value of equity, provides a ~170% return from original acquisition to complete disposition.   ABOUT ASHLEY GOLD CORP. Ashley Gold Corp. is a Canadian mineral exploration company focused 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 (including the Tak Patents), Howie, and Alto-Gardnar 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 Komavli” 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: www.ashleygoldcorp.com 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.” Copyright (c) 2026 TheNewswire - All rights reserved.

TheNewsWire June 5, 2026 - 5:00 AM PDT News by QuoteMedia www.quotemedia.com