Aston Bay Reports Over 53% Copper for Direct Shipping Product from Storm Copper Project, Nunavut

11 April 2022

  • Storm direct shipping product ranks among the highest-grade copper DSO product globally

  • Summer drill program to commence in June 2022

TORONTO, ON, April 11, 2022 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) is pleased to announce that the Company’s exploration and earn-in partner, American West Metals Limited (“American West”), has reported the results of the recent ore sorting process test work completed on mineralization from Aston Bay’s high-grade Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. In addition, a diamond drill program is expected to commence in June 2022.

Highlights

  • Test work using a full-scale ore sorter has successfully generated a potential direct shipping product with a copper (Cu) grade of 53.9% Cu (estimated to be dominantly chalcocite with little to no impurities)
  • The potential direct shipping product has excellent ESG outcomes with a low footprint, environmentally friendly processing and simple, low-cost development
  • A resource definition drilling and exploration program with the aim of defining a maiden copper resource and defining new zones of mineralization through testing of high-priority anomalies at Storm is expected to commence in June

“We are extremely delighted with the results of this test work,” stated Thomas Ullrich, CEO of Aston Bay. “This demonstrates that a simple, low impact, low-cost process produces a valuable and marketable copper product from Storm. As well, we are impressed that our earn-in partners American West are actively advancing the Storm and Seal projects on both the exploration and development fronts. We look forward to announcing further details of the diamond drilling program later this spring.”

The following details of the ore sorting process test work and proposed program are substantially sourced from the April 11th American West press release. American West has an option to earn an 80% interest in the Storm and Seal projects and is the operator.

Ore Sorting Process Test Work

The simple nature of the copper mineralogy and host rocks of the Storm Copper Project indicated that it may be amenable to upgrading through beneficiation processing techniques.

The test work was completed with partners Steinert Australia at their test facilities in Bibra Lake, Western Australia. The test sample was processed using a full scale STEINERT KSS CLI XT combination sensor sorter (Figure 1).