Ashley Gold Corp. announced it is currently tendering for a high-resolution drone magnetics survey over the Howie Lake Project. Recent drill results on the adjacent Thundercloud property operated by Dynasty Gold shows excellent correlation of high magnetic response with mineralization in the Pelham Inferred Resource.

This coupled with very similar geological context across the Howie Lake Project provides a cost-effective acquisition that will allow Ashley to target potential mineralized zones at depth. Dynasty's Thundercloud Analogue: Dynasty Gold's Pelham deposit is hosted primarily in veining within a gabbro intrusive and along its contact. Fluid from the intrusive Thundercloud Quartz-Feldspar-Porphyry (QFP) is postulated to have deposited gold and other metallic minerals against this gabbro.

There is also mineralization within the Stormy River volcaniclastics analogous to the Timiskaming metasediments adjacent to many of the world class deposits in the Abitibi Greenstone Belt. The approximate top of the inferred resource on the Pelham property is at 75m depth and mineralization extends to greater than 350m. Associated with the gold mineralization is slightly elevated pyrite and magnetite demonstrating excellent continuity in a high-resolution drone magnetic survey acquired by Dynasty in 2022.

Howie Lake: Historic drilling and detailed mapping over a small area of the Howie Lake Project confirms both the presence of the Thundercloud QFP along the edge of the Stormy River Basin and intruding next to the surface and near surface gold mineralization on Howie. The presence of both Pelham-type gabbro and metasediments adjacent to this QFP with over a 2.5km inferred strike length provide an enticing potential gold-bearing corridor to explore this year. Historic exploration drilling in the Katisha and Fiji zones in the 1980's intercepted mineralization, however exploration depth was limited to less than 71m.

No historical drilling has been completed west of Katisha along the Stormy River Basin margin heading toward Pelham. Currently, Ashley is tendering for a magnetic survey with high resolution capable of defining targets for an upcoming drill program.