New Thick Copper Intercepts at Cyclone and Lightning Ridge as Drilling Accelerates at Storm

10 July 2024

TORONTO, Ontario, July 10, 2024 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company”) is pleased to present an update on drilling and exploration activities currently underway at the Storm Copper Project (“Storm” or the “Project”) on Somerset Island, Nunavut. The program is being conducted by American West Metals Limited (“American West”), who is the operator of the Project. Aston Bay and American West have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine upon completion of a bankable feasibility study.

Thomas Ullrich, Chief Executive Officer of Aston Bay, commented:

“The 2024 exploration program has ramped up production and we are on track to drill the proposed 20,000 metres this season.

“The summer phase of drilling is hitting visual copper mineralization in every hole, expanding the already large zone of high-grade copper mineralization at Cyclone and confirming additional mineralization around last year’s discovery at Lightning Ridge. Most exciting for me is the intersection of a thick zone of copper sulfide mineralization across the fault from Cyclone in the down-dropped Central Graben. This extensive area holds the potential for significant additional discoveries concealed below the surface in this down-faulted block.”