ASHLEY GOLD CORP. — Share Issue/Capital Change 2021

Oct 29, 2021

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ASHLEY GOLD CORP.

OPTION PLAN

NOTICE OF EXERCISE

ASHLEY GOLD CORP.

c/o Suite 1150, 707 – 7 Avenue SW Calgary, Alberta T2P 3H6

Attention: Corporate Secretary

Reference is made to the Option Agreement made as of September 15, 2021 between ASHLEY GOLD CORP. (the “ Corporation ”) and the Optionholder named below. The Optionholder hereby exercises the Option to purchase Common Shares (the “ Optioned Shares ”) of the Corporation as follows:

Number of Optioned Shares for which Option being exercised

__________________ Exercise Price per Optioned Share: $_________________ Total Exercise Price (in the form of a cheque (which need not be a $_________________ certified cheque) or bank draft tendered with this Notice of Exercise): Name of Optionholder as it is to appear on share certificate: _________________________________ Address of Optionholder as it is to appear on the register of Common _________________________________ Shares of the Corporation and to which a certificate representing the Common Shares being purchased is to be delivered:

Dated_____________________,_____.

____________________________________ Name of Optionholder

____________________________________ Signature of Optionholder

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