Pegasus Resources Finalizes Sale of Icefield Property to Ashley Gold Corp.

Pegasus Resources Inc. has successfully completed the sale of its Icefield Property in British Columbia to Ashley Gold Corp. This transaction, initially announced in April 2025, involved an initial payment to Pegasus of 6,000,000 common shares of Ashley Gold. Additionally, 2,000,000 more shares will be issued pending Ashley Gold's acquisition of drill permits for the property.

In a strategic move, Noah Komavli from Pegasus has joined the board of Ashley Gold, ensuring ongoing collaboration between the companies. Concurrently, Pegasus has granted stock options totaling 725,000 common shares to key company stakeholders, exercisable over three years at $0.08 per share.