Geophysical Survey Underway at Storm Copper and Seal Zinc Projects, Nunavut under Aston Bay Holdings and American West Metals Option Agreement.

11 August 2021

Aston Bay Holdings Ltd. (TSX-V:BAY; OTCQB:ATBHF) (“Aston Bay” or the “Company”) is pleased to announce that its partner American West Metals Limited (“American West”) has commenced work on a three-week ground electromagnetic (EM) geophysical survey at Aston Bay’s Storm Project on Somerset Island, Nunavut. The surveys are designed to test for extensions along strike and at depth of known mineralization, and to follow up on previously identified gravity and other geophysical anomalies in anticipation of a proposed 2022 drilling campaign. Survey grids are planned for areas in both the Storm Copper Project and Seal Zinc-Silver Deposit.

Expanding the Target Pipeline

Previous EM surveys have successfully identified several strong anomalies that are associated with known copper mineralization in the Storm Project area. With the recent execution of the option agreement, American West has decided to take advantage of this year’s field season and to build on the historical work by expanding the EM footprint, and to screen with the latest in high power and low noise system technology. It is hoped these activities will refine the existing targets and will generate further quality targets for follow-up exploration during the 2022 season.

The opportunity has also been taken to screen the Seal Zinc-Silver Deposit for the first time with EM. Other geophysical techniques have so far been proven to be ineffective for detecting the Seal mineralization. This orientation survey will aim to define extensions to the known mineralization (the Seal Deposit is open at depth) and determine the response of the mineralization to assist with planning for further exploration along the prospective stratigraphic horizon that hosts the Seal Deposit.

APEX Geoscience is continuing to support the Storm Project and work program in conjunction with geophysical specialists Initial Exploration Services.

About Storm Project

The Storm Project consists of 117 contiguous mining claims and 6 prospecting permits covering an area of approximately 302,725 hectares on Somerset Island, Nunavut, Canada. The Storm Project comprises both the Storm Copper Project, a high-grade sediment hosted copper discovery (intersections including 110m @ 2.45% Cu from surface and 56.3m @ 3.07% Cu from 12.2m) as well as the Seal Zinc Deposit (intersections including 18.8m @ 10.58% Zn, 28.7g/t Ag from 51m and 22.1m @ 6.62% Zn, 27.1g/t Ag from 27.1m). As well, there are numerous underexplored targets/prospects within the 120km strike length of the mineralized trend, including the Tornado copper prospect where 10 grab samples yielded >1% Cu up to 32% Cu in gossans.

American West Metals Limited has an option to earn an 80% interest in the Storm Project (see March 9, 2021, Aston Bay press release), and is sole funding the exploration activity currently underway.

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