Ashley Gold Receives Permits for Gold Mountain Drill Campaign
Calgary, Alberta — March 13, 2026 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has received the necessary permits to operate a drill campaign on the Gold Mountain Project, the company announced today.
President Noah Komavli stated that this permit represents a significant milestone for the Gold Mountain polymetallic project. According to Komavli, historic results and recent surface sampling have indicated compelling numbers across precious and base metals. He added that Ashley’s near-term focus remains on the Dryden Area, specifically the Tak Patents, but they look forward to returning to their BC projects in the near future.
The Gold Mountain project is an early-stage gold-silver project located approximately 50 km northwest of Golden, British Columbia. The project consists of four claims covering approximately 1,863 ha.
Highlights of the Gold Mountain project include:
North Showing: A grab sample returned 4.87 g/t Au, 710 g/t Ag, and 1.89% Cu (Allen, 1982).
South Showing: Peak values of 30.3 g/t Au, 13,301 g/t Ag, and 32.54% Cu (Allen, 1982).
1984 Drilling (Parr, 1984): Notable intervals include:
4.14 m – 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb (Drillhole A)
4.85 m – 29.99 g/t Au, 6,711.3 g/t Ag, 11.0% Cu, and 14.53% Pb (Drillhole B)
2020-2021 Exploration: A Ag-Au-Pb-Zn-Cu-Sb mineralized system at Gold Mountain was identified (see January 13, 2021, and January 4, 2022, news releases).
Five samples returned 1,000 to 6,670 g/t Ag.
Eight samples returned 1,260 to 8,220 ppm Sb.
The property’s mineral-rich history dates back to the 1930s and includes showings of gold, silver, copper, and lead within a trend that spans over 600 meters. Past work has revealed high-grade values across two primary showings, North and South, which are separated by approximately 450 meters of talus.
The South Showing covers an area of 160 by 50 meters and features five vein exposures in multiple trenches, where high-grade mineralization has been sampled, including values up to 30.3 g/t Au, 13,301 g/t Ag and 32.54% Cu (Allen, 1982). These veins trend toward the North Showing, which has been partially exposed by a shallow open cut and an old adit.
Exploration during 1982 at the North Showing, near the adit, identified a 1 m wide quartz vein, which returned a grab sample of 4.87 g/t Au, 710 g/t Ag and 1.89% Cu, indicating a rich polymetallic presence (Allen, 1982). Together, these showings form a mineralized corridor that remains open at both ends.
Eight shallow backpack-style drill holes were completed in 1984 (Parr, 1984). Results include:
4.14 m – 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb
4.85 m – 29.99 g/t Au, 6,711.3 g/t Ag, 11% Cu, and 14.53% Pb
Samples collected in 2020 and 2021 confirmed the high-grade mineralization at both the North and South Showings, with five samples returning from 1,000 to 6,670 g/t Ag, and eight samples returning from 1,260 to 8,220 ppm Sb.
Recent claim additions opened a path for expanded exploration aimed at uncovering the full extent of mineralization along this trend.
As per the disclosure made March 19, 2025, a final share issuance of 2,000,000 shares has been made to Pegasus Resources Inc., in consideration for receiving the necessary permit. Under the terms of the agreement, the Company was required to make the final share issuance on receipt of the permit or at the 12-month anniversary, whichever came first. No further shares will be issued under the agreement. The issuance of shares remains subject to exchange and all regulatory approvals. After giving effect to the issuance, the company will have 85,844,873 issued common shares.
Darcy Christian, P.Geo., a Qualified Person as defined in National Instrument 43-101, prepared and/or reviewed the technical information in this news release. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta. Christian is non-arms length of the company and serves as Director and CEO.
Ashley Gold Corp. is a Canadian mineral exploration company focused on acquiring and developing 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 Santa-Maria, Burnthut (and the Tak Patents), Howie, Alto-Gardnar claims as well as in British Columbia with the Icefield Portfolio having two prospective claim packages.
Source: Ashley Gold Corp.
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