Pegasus Resources Sells Icefield Property to Ashley Gold Corp.

Pegasus Resources Inc., a Canadian mineral exploration firm, has announced a purchase and sale agreement with Ashley Gold Corp. for its Icefield Property in British Columbia. The agreement, finalized on March 19, 2025, includes the transfer of 8 million common shares of Ashley Gold to Pegasus, with various issuance timelines and holding conditions.

This transaction aligns with Pegasus' strategy of monetizing non-core assets to focus on uranium projects in the U.S. CEO Christian Timmins emphasized the strategic advantage of maintaining exposure to the Icefield Property through board representation and equity participation in Ashley Gold.

The property, known for high-grade historical gold and silver results, is poised for further exploration under Ashley Gold's guidance, potentially benefiting shareholders of both companies.