Aston Bay Reports High-Grade Copper Intercepts at Nunavut's Storm Project

Aston Bay Holdings Ltd. (TSX.V: BAY) (OTCQB: ATBHF) and project operator American West Metals have reported new high-grade copper intercepts from ongoing exploration at the Storm Copper Project on Somerset Island, Nunavut. The companies operate the project under a 20/80 joint venture arrangement, with Aston Bay holding a free carried interest until a decision to mine is made.

CEO Thomas Ullrich stated that drilling activities both within and beyond the current resource envelope have returned thick, high-grade intervals reaching up to 27.3% copper. These results support significant expansion potential for the project, which is advancing toward a resource update and pre-feasibility study scheduled for early 2026. Additional assay work and permitting activities are currently underway as the project continues its development timeline.

The joint venture structure provides Aston Bay with a free carried interest until American West makes a mining decision following completion of a bankable feasibility study. During this period, American West bears sole responsibility for funding the joint venture operations. After a mining decision is reached, Aston Bay would face dilution if it elects not to contribute its proportionate share, with its interest converting to a 2% net smelter returns royalty if diluted below 10%.

The Storm Project property hosts both the Storm Copper Project and the Seal Zinc Deposit, representing significant critical mineral resources in Canada's northern territories. The latest drilling results and project updates are available in the company's newsroom at https://ibn.fm/ATBHF, providing investors with current information about the project's progress.

These high-grade copper discoveries come at a time of increasing global demand for critical minerals essential for renewable energy technologies and electrification infrastructure. The substantial copper intercepts, particularly the 27.3% grade findings, demonstrate the project's potential to contribute to North America's critical minerals supply chain. The project's advancement toward pre-feasibility study in 2026 represents a significant milestone in the development of northern mineral resources.

The joint venture arrangement between Aston Bay and American West Metals, detailed through their partnership with Tornado Metals Ltd., provides a structured approach to project development while minimizing financial risk for Aston Bay during the exploration and feasibility phases. This model allows for continued exploration and development while preserving shareholder value through the carried interest provision.