Aston Bay Holdings Ltd. announced that it has signed a Letter of Intent with a major timberlands owner in the state of Virginia, USA ("the Lessor") which grants Aston Bay, through its wholly owned subsidiary Blue Ridge Mining Inc., an exclusive option to lease the mineral rights to certain lands controlled by the Lessor. Aston Bay believes that these lands are highly prospective for base and precious metals mineralization. Under the terms of the non-binding LOI, it is intended that Aston Bay will make annual lease payments and commit to minimum annual expenditures for exploring the property over the three-year term of the agreement. The LOI also contains provisions outlining the terms for Aston Bay to enter into mineral lease agreements on lands it intends to develop. The parties to the LOI intend to finalize the terms of a definitive agreement in the coming weeks.