CEO.CA Chairman's Briefing

(TheNewswire)

CALGARY, ALBERTA – TheNewswire - May 29, 2024 - Ashley Gold Corp. (CSE: ASHL) (“Ashley” or the “Company”) is please to announce initial sampling on the Alto-Gardnar Property.  A previously unsampled vein was assayed returning 106 g/t Au and 54.2 g/t Au. In addition, a historic open cut was sampled with assays returning 0.46 g/t Au up to 5.47 g/t Au.  

Darcy Christian, CEO of Ashley comments “This was our first prospecting trip out to Alto-Gardnar and it did not disappoint. 2006 sampling shows a potential increase in grade and continuity to the southwest with our new sampling confirming this.  We are currently out at Alto focussing on the southwest looking for additional indications to support this.”

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Figure 1. Location of Open Cut and Samples

Sampling

Historically, a 350m area was stripped at Alto-Gardnar with the most recent sampling performed by Gossan Resources in 2006.  Figure 2 shows the newly discovered vein samples taken just north of Gossan samples.  All samples were white-grey quartz with fine chlorite and tourmaline partings.  The quartz is mineralized with up to 1% fine pyrite with trace chalcopyrite and sphalerite.  Visible gold is prevalent when chalcopyrite and sphalerite are present. Samples were sent to Actlabs in Dryden, Ontario for Fire Assay. Additionally, the new vein samples had metallic screens performed due to the nuggety nature of the vein mineralization.  

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Figure 2. Newly Sampled Quartz Vein Showing Visible Gold

Table 1. Assay Results

Qualified Person

The technical and scientific information in this news release has been reviewed and approved by Darcy Christian, P.Geo., President of Ashley, who is a Qualified Person as defined by NI 43-101.

ABOUT ASHLEY GOLD CORP.

Ashley Gold is focused on creating substantive, long-term value for its shareholders through the discovery and development of world class gold deposits. Ashley has acquired, 100% of the Tabor Lake Lease subject to a 1.5% royalty, 100% of the Santa Maria Project subject to a 1.75% royalty, 100% interest in the Howie Lake Project subject to a 0.5% royalty, 100% interest in the Alto-Gardnar Project subject to a 0.5% royalty, 100% interest in the Burnthut Property subject to a 1.5% NSR, and an option to earn 100% of the Sakoose claims subject to a 1.5% NSR. In addition, Ashley has entered into an option agreement to earn 100% of the Sahara Uranium-Vanadium property in Emery County, Utah subject to a 2% NSR.

Ashley Gold Corp. is an early-stage natural resource company engaged primarily in the acquisition, exploration, and development of mineral projects. The Corporation’s objective is to conduct efficient and economical exploration on its growing portfolio of high-quality gold projects as well as moving the Sahara Uranium-Vanadium project towards near-term production.

The responsibility of this release lies with Mr. Darcy Christian, President and CEO • +1 (587) 777-9072 • dchristian@ashleygoldcorp.com , may be contacted for further information. www.ashleygoldcorp.com

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

DISCLAIMER & 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. Undue reliance should not be placed on “forward looking statements”.

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