ASTON BAY HODGS LTD ORD - ATBHF STOCK NEWS

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.

Aston Bay Holdings (TSXV:BAY)(OTCQB:ATBHF) has announced the granting of stock options to key personnel. The company has issued options to acquire 2,300,000 common shares to officers, directors, employees, and consultants. These incentive stock options come with an exercise price of $0.105 per share and have a five-year term. The vesting schedule is structured as follows: one-third vests immediately upon grant, with the remaining two-thirds vesting equally on the first and second anniversaries of the grant date.

Aston Bay Holdings and American West Metals announced the expansion of high-grade copper zones at the Storm Project in Nunavut, Canada. The 2024 summer drilling program has completed over 8,300 meters in 66 drill holes, with visual results from 22 additional holes and assays expected soon.

Thunder Prospect: Confirmed thick zones of visual copper mineralization in all step-out drill holes, extending the strike to over 300m. Significant intersections include 73.2m and 121.2m of continuous visual copper sulfides.

Cyclone Prospect: New intersections outside the known mineralization zone, indicating potential for resource growth. Noteworthy drill results include 53.4m and 80.7m of continuous visual copper mineralization.

The visual results highlight the strong potential for resource definition and expansion at both prospects, though lab assays are required to confirm mineral grades and concentrations.

Aston Bay Holdings and American West Metals have confirmed new thick copper intercepts at the Storm Copper Project. The 2024 summer drilling program has accelerated, with over 4,450 meters drilled across 30 RC holes. Diamond drilling has also started.

Recent drilling at Cyclone and Chinook aims to expand known resources, while Lightning Ridge exploration has confirmed significant copper sulfide mineralization. Drill holes at Cyclone show a robust, continuous copper deposit with potential for resource delineation. Visual results from 16 drill holes indicate a 100% hit rate for copper sulfides. Assays for remaining holes are pending.

At Lightning Ridge, drill holes SR24-014 and SR24-016 show up to 30.5m and 21.3m of visual copper sulfide mineralization, respectively. Cyclone drilling has intersected thick intervals of semi-massive sulfides, supporting significant growth potential. Further exploration at Thunder and Chinook is ongoing.

The drilling program aims to complete 20,000 meters this season, with significant potential for new discoveries in the underexplored Central Graben area.

Aston Bay and American West Metals have identified a new high-grade copper zone at their Storm Copper Project in Canada. Drill hole SR24-03 at The Gap prospect revealed 20m at 2.3% Cu, including 3m at 7% Cu. A 20,000m summer drilling program targets resource definition and expansion at Thunder, Cyclone, and Chinook Prospects, as well as new EM anomalies. Initial drilling confirms strong EM-copper correlations, highlighting significant discovery potential. The program also includes bulk sampling for prefeasibility studies and logistical preparations for the 2025 season. CEO Thomas Ullrich emphasizes the promising early results and the efficiency of new drilling equipment.

Aston Bay Holdings has announced its upcoming exploration program for the summer of 2024 at the Epworth sediment-hosted copper-silver-zinc-cobalt project in Nunavut, Canada. The program includes a $2 million investment to fund a 5,000 line-kilometer airborne electromagnetic and magnetic survey for identifying copper exploration targets and delineating geological structures. Further activities include geological and structural mapping, and rock and lake sediment sampling under the direction of Dr. Elizabeth Turner. Notable recent findings include surface chalcocite boulders with up to 61.2% copper and 5,600 grams per tonne of silver. The company has secured over $4.1 million in recent financing and an additional $3.425 million through a royalty agreement with American West. Permits for initial drilling phases are already obtained. Community engagement meetings in Kugluktuk are also planned.

Aston Bay Holdings, in partnership with American West Metals, has secured a C$17.1 million royalty package from Taurus Mining Royalty Fund for the Storm Copper Project in Canada. Aston Bay will receive C$3.425 million, with no restrictions on fund usage, while American West will utilize the bulk of the funds to expedite exploration and development. This non-dilutive financing will be allocated in stages: C$6.85 million upon documentation finalization, C$4.8 million upon pre-feasibility study submission, and C$5.48 million upon resource increase. Taurus will receive a 0.95% gross override royalty from Storm's production. The funds will support extensive drilling and logistical activities, aiming to accelerate the project through 2025.

Aston Bay Holdings has completed the final tranche of its non-brokered private placement, raising a total of $4,130,460. In the final tranche, the company issued 230,000 non-flow through units at $0.12 each and 3,900,000 flow through shares at $0.15 each, generating $612,600. CEO Thomas Ullrich participated by purchasing 500,000 FT Shares. The proceeds will support exploration and development in Nunavut, Canada, and Virginia, USA, as well as general corporate purposes. A finder's fee of $30,600 was paid to an arm's length finder. The issued securities will be subject to a hold period until October 21, 2024. The offering document is available on SEDAR+ and the company's website.

Aston Bay Holdings has closed the second tranche of its non-brokered private placement, raising an additional $2,137,860. This brings the total funds raised to $3,517,860 to date. The second tranche involved issuing 16,826,333 non-flow through units at $0.12 per unit, and 791,333 flow-through shares at $0.15 per share. Each unit includes one common share and one warrant to purchase an additional share at $0.18 within 24 months. The transaction is pending final approval from the TSX Venture Exchange. The funds will be used for exploration and development in Nunavut, Canada, and Virginia, USA, as well as for general corporate purposes. The offering continues to accept investments up to an additional $1,482,140 and may close on or about June 20, 2024.