24 June 2026
TORONTO, Ontario, June 24, 2026 – Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) (“Aston Bay” or the “Company”) is pleased to provide an update on the Pre-Feasibility Study (“PFS”) and other activities 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 study. 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.
Highlights
Pre-feasibility Study (PFS) aims to deliver a compelling development project: Study work is being finalized in conjunction with highly regarded external engineering and project delivery consultants – Sacre Davey, Ausenco, and the Nuna Group – with a focus on:
Process plant and flow sheet optimization, including assessment of new process innovations
Revised mine plans to provide a high-grade feed to maximize metal recovery and optimize copper-silver product grades
Updated capital and operational cost estimates based on the final process design and mining schedules
Mine permitting continues: The Storm Project mine permit application is currently with the Nunavut Planning Commission (NPC) and is preparing the submission to the Nunavut Impact Review Board (NIRB).
Exploration for +110km copper belt: A project-wide structural and geochemical analysis is set to commence with a focus on enhancing the sediment-hosted copper targeting model and extending the pipeline of copper targets for drill testing.
Environmental field work: Environmental baseline gap activities are planned for late 2026 and early 2027 in support of the Environmental Assessment (EA).
Community Engagement Support Program (CESP) funding approved: The Nunavut Government will provide up to CA$100k toward American West’s community liaison activities in the coming months, highlighting the importance of the Storm Copper Project to the Government’s regional development plans.
Strategic Importance of the Storm Copper Project: Storm presents as the only near-term copper development in Northern Canada with important strategic and geopolitical implications for Canada’s critical metals supply chain.
Development Funding: The strategic partnership between the joint venture and Ocean Partners underpins the development of Storm with project finance and offtake commitments from OP, reinforcing our strategic growth plan.