Ashley Gold Corp. Closes First Tranche of Financing, Raises $265,237
CALGARY, ALBERTA — November 27, 2025 — Leads & Copy — Ashley Gold Corp. (CSE: ASHL) has closed the first tranche of its proposed financing, raising gross proceeds of $265,237.56.
The company opened the financing on November 13, 2025, aiming to raise $530,000. The first tranche includes the issuance of 1,578,922 flow-through (FT) units at $0.095, with each unit including a two-year half warrant exercisable at $0.15, generating gross proceeds of $149,795.09. Additionally, 1,536,833 non-flow-through (NFT) units were issued at $0.075, each with a two-year half warrant exercisable at $0.12, resulting in gross proceeds of $115,262.47. Management contributed $78,750 to this initial tranche.
The flow-through funds are earmarked for eligible exploration expenditures, specifically drilling at the company’s permitted projects, and will be renounced by December 31, 2025. The hard dollar gross proceeds will support exploration activities and general corporate and administrative costs.
President Noah Komavli expressed gratitude to shareholders for their support, stating that Ashley Gold has the necessary components for a significant discovery within its portfolio of projects located in an archean greenstone setting. The funds from the first tranche will facilitate the execution of a scout drill program at the Howie project, with drilling expected to commence in early December. The company aims to expand its geological model through additional data collection, following surface work already completed. This exploration season has been heavily focused on the Howie Project, and management is aligned with shareholders via another investment in this tranche.
Howie Project Update
During the spring and summer, Ashley Gold conducted a stripping campaign at the Main Katisha zone, yielding a high of 20.2 g/t Au over 0.8 meters. Channel sampling at the Twilight Zone returned a weighted average of 0.624 g/t Au over 22.9 meters. In early fall, core samples from a 1987 drilling program were located, cut, and assayed, revealing 0.33 g/t Au over 25.74 meters near the Twilight Zone.
Due to the complex mineralization and widespread gold occurrences, the company plans a cost-effective drill program using oriented core to gather more data. The program, with a proposed meterage of 550 meters, is projected to cost $137,500. The primary target of the program is the Gap Zone, a linear anomaly situated between the Howie and Twilight Zones, characterized by strong chargeability and resistivity anomalies with no prior drilling. The drill rig may be relocated for additional drilling in the Alto-Gardnar program, pending permit and tranche 2 funding.
Financing Terms
Announced on November 13, 2025, the non-brokered private placement aims to raise up to $530,000 (CDN). It includes non-flow-through (NFT) units priced at $0.075, each comprising one common share and one-half of one share purchase warrant, with each full warrant exercisable at $0.12 for 24 months. Flow-through (FT) units are priced at $0.095, each with one common share and one-half of one share purchase warrant, with full warrants exercisable at $0.15 for 24 months.
The company agreed to pay finder’s fees of $12,521.00 and issue 137,753 finder’s warrants, each entitling the holder to acquire one common share at C$0.075 for 24 months. Company directors and officers, including Darcy Christian, Noah Komavli, and Paul Rozek, participated in the financing, constituting a related party transaction exempt from certain formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
All securities issued are subject to a statutory hold period. The offering is pending final CSE Exchange acceptance and is subject to necessary regulatory approvals.
Existing shareholders of record on November 13, 2025, are eligible to participate under a prospectus exemption, with a maximum investment of $15,000 unless suitability advice is obtained from a registered investment dealer. The company also made the offering available to certain subscribers pursuant to B.C. Instrument 45-536.
Project History – Howie Property
Key historical events include wide zones of mineralization reported by Esso Minerals in 1987, initial surface prospecting in 2022 yielding assays up to 52.80 g/t Au, planned high-resolution drone magnetics survey in January 2023, secured exploration permit and Ontario Junior Exploration Program funding in April 2024, completed induced polarization (IP) survey in October 2024, reviewed IP survey data and expanded the project in March 2025, conducted mechanical stripping at Katisha Zone in May 2025, and located the historic Esso core with channel sampling at the Twilight Zone outcrop in September 2025.
Project History – Alto Project
Significant historical milestones include the discovery of gold at Alto-Gardnar in 1937, stripping and bulk sampling by Sandybeach Lake Syndicate in 1940, resampling of historic trenches by K. and M. Bernier in 1982, identification of a strong quartz vein system in 1983, airborne magnetometer and EM survey by Loydex Resources Inc. in 1986, diamond drill holes by Champion Bear Resources in 1995, mechanical stripping and geologic mapping by Gossan Resources in 2006, Ashley’s acquisition of the Alto-Gardnar project in October 2022, and the discovery of a new vein assaying 106 g/t Au in May 2024.
NI 43-101 Disclosure
Darcy Christian, CEO, P.Geo., a Qualified Person as defined in National Instrument 43-101, prepared and reviewed the technical information in this news release. Mr. Christian is registered as a Professional Geoscientist with Engineers Geoscientists of Alberta and is non-independent of Ashley Gold Corp.
Management cautions that grab samples are selective in nature, and the assay results may not necessarily represent true underlying mineralization.
Noah J. Komavli, P.Eng, President & Director, can be reached at (647) 567-9840 or info@ashleygoldcorp.com.
Darcy Christian, P.Geo, CEO can be reached at (587) 777-9072 or dchristian@ashleygoldcorp.com.
Source: Ashley Gold Corp.
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