Aston Bay Holdings Ltd. reported the assay results from reconnaissance sampling and new geophysical surveys from the Tempest Prospect ("Tempest"), located within the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. The program was conducted by American West Metals Limited ("American West"), who is the operator of the Project. The Tempest Prospect is located approximately 40 kilometres south of the known copper discoveries at Storm. The area was discovered through historical rock and soil sampling which defined copper gossans over 250m, with assays returning copper grades up to 32% Cu from historic select grab samples. The geology of the area is interpreted to contain the southern extension of the highly prospective Storm sediment-hosted copper horizon, overlapping much older Proterozoic rocks that outcrop to the west. This geological setting and the unconformity between two main geological terranes are interpreted to be highly prospective for base metal mineralization. A small reconnaissance sampling and field mapping program during the 2023 field season was aimed at expanding the understanding of the area. The mapping revealed a series of gossans that are significantly more extensive than originally defined. The gossans have now been traced over 4km of strike to the north and south of the original Tempest Prospect, significantly upgrading the exploration potential of the area. Seven select grab samples were taken of gossanous rock outcrop and float, and one was taken from exposed gneiss basement. Several gossanous samples contain highly anomalous base metals with copper grades up to 38.2% Cu (chalcocite-mineralized dolostone with heavy malachite weathering rind Y010804) and zinc grades 30.8% Zn (sphalerite-mineralized
dolostone with rusty-coloured weathering Y010801). The gossan samples at Tempest differ in composition from those typically found at Storm with higher abundances of zinc, lead and gold. The Storm gossans generally contain only copper +/- silver, with only trace abundances of zinc and lead. This may indicate that the gossans at Tempest are derived from a different style or combination of styles of mineralization. Tempest remains underexplored and further, more detailed, and extensive geochemical sampling is required to fully define the highest priority target areas. A ground Loupe Time-Domain Electromagnetic (TDEM) and magnetic survey were completed over the Tempest area during August 2023 to aid with mapping the stratigraphy and to define potential targets for further exploration work. Approximately 9km2 was covered during the survey. Loupe TDEM is a man-portable, rapid, and inexpensive system developed by Loupe Geophysics used to assess the conductivity of an area, particularly where there is significant outcrop and little to no weathering. The system is designed to measure electrical conductivity in the near-surface (generally between 20-30m depth) at high resolutions. The TDEM survey has defined a series of conductive anomalies that lie along the strike of the stratigraphy and are coincident with the copper/zinc gossans in a number of areas. The conductors are localized and modeling of the data estimates that they are potentially steeply dipping. The relatively short strike length of the conductive features is positive and suggests that the anomalies may not be related to conductive stratigraphic horizons such as black shales, graphite, or iron sulfides. A ground magnetic sensor was also used during the survey over the northern and southern areas of Tempest to supplement the existing airborne magnetic data. The results of the TDEM are still being assessed but are highly encouraging with multiple anomalies and gossans untested. Follow-up surveys will include high-powered Moving Loop EM (MLEM).