The 20-year-old, the leading scorer for the club’s under-23s this season, has agreed a contract which keeps him at Molineux until 2022.
And he is now heading overseas for the rest of the current campaign, after joining Liga Pro outfit FC Famalicao to help their promotion push.
Famalicao currently sit second in the Portuguese second division, with 38 points from their opening 18 matches – just two points behind league leaders Paços de Ferreira.
Ashley-Seal was part of Nuno Espirito Santo’s first-team squad which travelled on a pre-season trip to Switzerland during the summer.
He then got his first taste of senior football as a late substitute in the 2-0 Carabao Cup victory against Sheffield Wednesday in August.
Ashley-Seal also featured from the bench in the third round of the cup against Leicester City at Molineux, scoring a penalty in the 3-1 shoot-out defeat.