Aston Bay and American West Metals Announce Additional Copper Intercepts and Commencement of Summer Drilling Program at the Storm Copper Project, Canada

5 July 2023

July 5, 2023

  • Assays confirm further thick and high-grade near-surface copper intervals at the 4100N Zone
  • Drill hole SR23-17 has intersected:
    • 15.3m @ 1.6% Cu from 59.4m, including,
      • 7.6m @ 2.9% Cu from 64m, including,
        • 3.1m @ 4.8% Cu from 64m
  • Drill hole SR23-10 has intersected:
    • 9.1m @ 1.1% Cu from 62.5m, including,
      • 1.5m @ 2.8% Cu from 62.5m, and,
      • 1.5m @ 2.1% Cu from 65.5m
    • 3.1m @ 1.4% Cu from 76.2m, including,
      • 1.6m @ 2.1% Cu from 77.7m
  • Drill hole SR23-12 has intersected:
    • 7.6m @ 1.1% Cu from 106.7m, including,
      • 3.1m @ 2.1% Cu from 109.7m
  • Drill hole SR23-18 has intersected:
    • 7.7m @ 1% Cu from 59.4m, including,
      • 4.6m @ 1.4% Cu from 62.5m, including,
        • 1.5m @ 2.6% Cu from 64m
  • Drill results continue to expand the footprint of copper mineralization at the 4100N Zone, which remains open laterally in all directions
  • Reverse circulation (RC) delineation drilling has recommenced at the 4100N Zone
  • Diamond drilling will commence shortly to test the large gravity anomalies located below the high-grade near-surface deposits
  • American West has been granted funding by the Nunavut Government to support exploration and  drilling at Storm

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 and recommencement of drilling activities 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.

“Further impressive results from the spring RC program continue to expand the footprint of near-surface copper mineralization at Storm,” stated Thomas Ullrich, CEO of Aston Bay. “The program conducted by our partners America West has outlined a significant system over 1.3 kilometres long and 300 metres wide at the 4100N Zone alone. More drilling on the zone is now underway and further delineation drilling at other zones is planned for later this summer.

“Diamond drilling of the large geophysical targets below the 4100N Zone will also begin soon. Geological and geophysical modeling point to a sediment hosted copper system, the type of mineralization responsible for the very large and high-grade copper deposits of central Africa. The potential for discovery is enormous here, making this one of the most exciting drill programs of the summer.”

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