21 May 2025
TORONTO, Ontario, May 21, 2025 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ("Aston Bay" or the "Company") is pleased to provide an update on the planned 2025 regional exploration activities set to commence at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. American West Metals Limited ("American West"), the Project operator, is conducting the exploration program. Aston Bay and American West have formed a 20/80 unincorporated joint venture with respect to the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine is made upon completion of a bankable feasibility study.
Thomas Ullrich, Chief Executive Officer of Aston Bay, commented:
"2025 has witnessed several milestones for the Storm Copper Project. Together with our partners American West, we have delivered the National Instrument 43-101 on the Initial Mineral Resource Estimate at Storm, satisfied the second phase of our royalty agreement with Taurus bringing $1million to Aston Bay, and entered into a strategic alliance with Ocean Partners securing both technical expertise and the majority of funding for development of the near-surface copper mineralization at Storm.
“With this significant progress achieved, we are pleased to announce that work is continuing with a substantial summer program that will advance the development story, while focusing on accelerating exploration for discoveries along this 110 km-long prospective belt. This is a vast area that has already yielded significant discoveries for follow-up, and geophysics will enhance targeting and expand the search space even further at depth. Drilling will also aim to develop the resource on the margins of known deposits and expand on discoveries made last season.
“In addition to results from this exploration and development activities this summer, investors can also look forward to the completion of a Preliminary Economic Analysis for the near-surface mineralization at Storm, currently underway. We expect the second half of 2025 to be even more impactful than the first.”