ASTON BAY HODGS LTD ORD - ATBHF STOCK NEWS

Aston Bay Holdings (TSXV:BAY)(OTCQB:ATBHF) has received an initial US$1 million (C$1.38 million) payment as part of a US$12.5 million (C$17.3 million) royalty package agreement for the Storm Copper Project. This agreement involves Aston Bay's joint venture partner American West Metals and TMRF Canada Inc., a subsidiary of Taurus Mining Royalty Fund L.P.

Key points:

• Aston Bay will receive 20% of the total funding (C$3.46 million) with no use of proceeds restriction
• Further payments include US$3.5m upon delivery of a Prefeasibility Study and US$4m upon resource increase announcement
• The funding enables expansion of exploration and development activities at Storm
• A maiden resource to Canadian Institute of Mining standards is being constructed
• Environmental, mining, and development studies are underway

Aston Bay Holdings (TSXV:BAY)(OTCQB:ATBHF) has reported significant copper intersections from drilling at the Storm Copper Project in Nunavut, Canada. Highlights include:

- Chinook Deposit: 42.7m @ 3.1% Cu from surface (SR24-068)
- Cyclone Deposit: 33.5m @ 1.5% Cu from 35.1m (SR24-117)

The drilling results demonstrate thick, high-grade, near-surface copper mineralization at both deposits. This supports potential open-pit mining scenarios and reinforces Storm's development potential. A maiden mineral resource estimate is being prepared for Q4 2024 release. The project is operated by American West Metals, with Aston Bay maintaining a 20% free carried interest.

Aston Bay Holdings and American West Metals report significant copper intersections at the Storm Project in Nunavut, Canada. Key highlights include:

1. Drill hole SR24-093 intersected 53.3m @ 3.9% Cu, including 22.9m @ 8.5% Cu, 75m south of known mineralization.

2. Other notable intersections: SR24-070 with 45.7m @ 1.9% Cu and SR24-045 with 57.9m @ 1% Cu.

3. Successful sealift operation completed, delivering supplies for 2025 exploration and demonstrating logistics for potential mining operations.

4. Sealift expected to save approximately $4 million on the 2025 program budget.

5. Results suggest expansion potential for the Cyclone Deposit, with assays pending for remaining drill holes.

The company is working towards a maiden resource estimate for the Storm Project this fall.

Aston Bay Holdings and American West Metals have reported significant copper mineralization from deep drilling at the Storm Copper Project in Nunavut, Canada. Drill hole ST24-01 intersected 10m @ 1.2% copper from 311 metres, including 3m @ 2.2% Cu and 0.5m @ 3.7% Cu. This confirms a large copper system at depth and highlights the potential of the 'Deep Copper Horizon' to host large-scale, high-grade copper deposits.

The drilling results suggest similarities to the Cyclone Deposit and indicate the possibility of a fault-offset southern portion. The consistent copper mineralization across widely-spaced drill holes in the Central Graben area covers over 10 square kilometers, emphasizing the extensive nature of the deep copper system. These findings support the potential for Storm to host deposits similar to those in the Central African Copperbelt.

Aston Bay Holdings and American West Metals announced significant copper assays and a new copper discovery at the Storm Project in Nunavut, Canada. Key highlights include:

• Completed 128 RC drill holes and 14 diamond drill holes totaling over 20,000m in 2024.
• Exceptional assays from Cyclone Deposit:
• SR24-057: 1.5m @ 13.5% Cu, 23g/t Ag from 54.9m; 3.1m @ 2.0% Cu, 8.0g/t Ag from 85.3m.
• SR24-035: 3.1m @ 3.9% Cu, 10.5g/t Ag from 57.9m; 4.6m @ 1.4% Cu, 5.0g/t Ag from 71.6m.
• SR24-031: 27.4m @ 1.1% Cu, 3.5g/t Ag from 96m; 4.6m @ 3.1% Cu, 7.7g/t Ag from 109.7m.
• New discovery 'Squall' identified through MLEM survey with strong visual copper sulfides at 181.4m downhole.
• Exploration drilling and MLEM surveys continue in the Tornado and Blizzard areas, targeting additional copper deposits.

These results affirm the high potential for expanding copper resources at Storm, supporting Aston Bay's strategic growth.

Aston Bay Holdings (TSXV:BAY)(OTCQB:ATBHF) has initiated a property-wide 8,105 line-km helicopter-borne MobileMT electromagnetic geophysical survey at the Epworth Project in Nunavut, Canada. The survey aims to identify copper exploration targets and delineate structures. The company has also expanded its claims by 11,900 hectares, bringing the total to 89,000 ha (890 km2).

A prospecting, sampling, and mapping program has been completed, with nearly 400 grab rock samples and 44 lake sediment samples collected for assay. The company is encouraged by preliminary results and has staked additional claims. The MobileMT survey utilizes natural lightning strikes to detect subsurface anomalies and has proven effective in similar mineralization elsewhere.

Aston Bay is eager to compile new and historical data to assist in targeting for anticipated drilling next year. The company believes the geophysical survey results will improve understanding of the geological environment and help develop targets for further work in 2025.

Aston Bay Holdings and American West Metals have announced significant progress in their copper exploration at the Storm Project in Nunavut, Canada. Key highlights include:

1. Two deep diamond drill holes (ST24-01 and ST24-02) intersected substantial visual copper mineralization, with ST24-01 showing 21.3m and ST24-02 showing 99.2m of visual copper sulfides.

2. A deep search Moving Loop Electromagnetic (MLEM) survey identified a large 1,300m x 500m anomaly at depth below the Cirrus Deposit and The Gap Prospect.

3. The drilling confirms the lateral extent of the Storm copper system at depth, now intersected over 10 square kilometres, suggesting potential for large-scale copper deposits similar to those in the Central African Copperbelt.

4. Ongoing drilling and EM surveys continue to target high-priority areas for further exploration.

Aston Bay Holdings and American West Metals announce positive assay results from their ongoing drilling program at the Storm Copper Project in Nunavut, Canada. The program has completed 100 RC drill holes and 13 diamond drill holes totaling over 15,500 meters. Key highlights include:

- Cyclone Deposit: Drill hole SR24-11 intersected 19.8m @ 1.2% Cu, including 4.6m @ 3.0% Cu. Drill hole SR24-21 intersected 13.7m @ 2.1% Cu, including 7.6m @ 3.2% Cu.

- Chinook Deposit: Drill hole SR24-10 intersected 3.1m @ 1.3% Cu and 1.5m @ 2.4% Cu.

The results confirm high-grade, near-surface copper mineralization and potential for resource expansion. Drilling continues with RC rigs at Storm and Tempest Prospect, while diamond drilling targets deeper copper horizons.

Aston Bay Holdings and American West Metals have confirmed the potential for Direct Shipping Products (DSPs) at the Storm Copper Project in Nunavut, Canada. Metallurgical studies on the Cyclone and Chinook Deposits have successfully generated commercial-grade DSPs using a two-circuit process of ore sorting and Inline Pressure Jig (IPJ). Key results include:

- Cyclone Deposit: 16-22% Cu concentrate, 58-62% copper metal to DSP
- Chinook Deposit: 16-22% Cu concentrate, 64-71% copper metal to DSP

The process offers a small environmental footprint without the need for conventional flotation plants. Ongoing drilling aims to inform a maiden mineral resource estimate for Storm, expected in Q4 2024. The project demonstrates potential for a high-grade open pit copper opportunity with excellent ESG qualities.