Aston Bay and American West Metals Announce New Copper Targets at the Storm Copper Project, Canada

New step-out targets identified from high-powered electromagnetic surveys

TORONTO, ON / ACCESSWIRE / May 7, 2024 / Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to present the preliminary interpretation of the initial results from geophysical 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. American West has completed the required expenditures to earn an undivided 80% interest in the Project. American West will be solely responsible for funding the program.

Highlights

• Preliminary interpretation of the initial Moving Loop Electromagnetic (MLEM) survey results has identified several new exploration targets highlighting excellent potential to discover additional copper mineralization
• The initial MLEM data indicates that the high-grade copper mineralization at the Cyclone Zone likely extends in most directions
• New EM anomalies have also been identified over 1,000 metres ("m") along strike from the Chinook Zone as well as in the areas of the 2023 discoveries at the Thunder, Lightning Ridge and Gap Prospects, indicating strong potential for extensions to known high-grade copper mineralization
• The MLEM surveys continue in the Storm area, and will then move south toward the Blizzard and Tornado Prospects
• Deeper-looking MLEM surveys are also planned between the North and South Graben Faults in the Storm area
• Track-mounted Reverse-Circulation (RC) drilling is underway and will test these new targets as well as several historical EM anomalies and other high-priority targets for near-surface high-grade copper mineralization
• A second RC drill rig is currently being mobilised to site, which will join the first RC and two diamond rigs currently onsite

The 2024 high-powered Moving Loop Electromagnetic (MLEM) survey has already successfully identified numerous conductive anomalies throughout the Storm area, including multiple anomalies that are adjacent to known copper mineralization and are untested by drilling.