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ASHLEY GOLD CORP. Capital/Financing Update 2022

Dec 23, 2022

48266_rns_2022-12-23_30f8eee8-a705-4d95-b62c-96ba43ebc289.pdf

Capital/Financing Update

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FORM 51-102F3 MATERIAL CHANGE REPORT

ITEM 1 Name and Address of Company

ASHLEY GOLD CORP. (“ Ashley ” or the “ Company ”) Suite 820 – 1130 West Pender Street Vancouver, British Columbia V6E 4A4

ITEM 2 Date of Material Change

December 21, 2022

ITEM 3 News Release

The news release was disseminated and filed on SEDAR on December 23, 2022.

ITEM 4 Summary of Material Change

Ashley announced details on closing of its second tranche financing.

ITEM 5.1 Full Description of Material Change

See attached Schedule “A”.

ITEM 5.2 Disclosure for Restructuring Transactions

Not Applicable

ITEM 6 Reliance on subsection 7.1(2) of National Instrument 51-102

Not Applicable

ITEM 7 Omitted Information

No significant facts remain confidential in, or no information has been omitted from, this report.

ITEM 8 Executive Officer

Further information relating to this Material Change Report may be obtained from:

George Stephenson , President, CEO and Director Phone: (403) 816-2262

ITEM 9 Date of report:

December 23, 2022

The foregoing accurately discloses the material change referred to in this report.

SCHEDULE “A”

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