Aston Bay and American West Metals Announce 8% Copper Intersected at the Storm Copper Project, Nunavut

22 June 2023

(June 22, 2023) Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) reports significant new drill results from the spring reverse circulation (RC) drilling program at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut, Canada. The program was conducted this April and May by American West Metals Limited (“American West”), who are the project operator since entering an option agreement with Aston Bay in March 2021.

Highlights:

• Additional thick and high-grade near-surface copper intervals intersected at the 4100N Zone with numerous intervals over 5% Cu and a peak value of 8% Cu
  • Drill hole SR23-13 has intersected:
    • 29m @ 1.2% Cu from 62.5m, including,
      • 3m @ 5% Cu from 86.9m, including,
        • 1.5m @ 8.2% Cu from 86.9m
  • Drill hole SR23-14 has intersected:
    • 25.9m @ 1.3% Cu from 61m, including,
      • 9.1m @ 2.1% Cu from 76.2m, including,
        • 3m @ 3.7% Cu from 82.3m
  • Drill hole SR23-07 has intersected:
    • 10.7m @ 1.3% Cu from 76.2m, including,
      • 4.6m @ 2.9% Cu from 76.2m, including,
        • 1.5m @ 6.5% Cu from 76.2m
  • Drill hole SR23-09 has intersected:
    • 10.6m @ 1% Cu from 67.1m, including,
      • 4.6m @ 2% Cu from 71.6m
• Copper mineralization remains open laterally in all directions
• These results continue to expand the volume of the near-surface mineralization and provide further support for the exploration potential of the large gravity anomaly located below the 4100N Zone

“We continue to receive impressive results from the RC program conducted at Storm by our partners America West Metals,” stated Thomas Ullrich, CEO of Aston Bay. “The high grades, up to 8% copper in these results and higher elsewhere at Storm, speaks to the quality of the mineralized system, while its apparent continuity and consistency demonstrates a significant increase in the known near-surface high-grade mineralization.

“The 4100N Zone sits directly above the largest of several geophysical targets recently delineated at Storm, adjacent to faults that may have served as conduits for the mineralizing fluids. Our exploration model suggests that the 4100N Zone may be the uppermost of a series of stacked mineralized zones. This would be a game-changing discovery, and we eagerly look forward to testing this hypothesis in the upcoming summer drill program.”

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