Aston Bay Holdings Ltd. to present results from Phase 1 of the 2020 diamond drill program at its Buckingham Gold Property located in Central Virginia, USA. Ten large diameter (HQ) oriented diamond drill holes totaling 1,218 metres (m) were completed with significant gold intersected in seven of the holes, including high grade gold intersections in quartz vein and broader zones of lower grade gold mineralization in zones of sericite-quartz-pyrite alteration. · Significant gold intersected in seven drill holes, including gold-bearing quartz in the Buckingham. Vein in core-length intercepts of: 5.81 g/t Au over 6.29 m including 29.9 g/t Au over 0.92 m (hole BUCK20-014). 19.25 g/t Au over 1.40 m (hole BUCK20-015), and 14.65 g/t Au over 1.06 m (hole BUCK20-016). These vein intercepts represent a southeasterly along-strike extension of 35 m for the Buckingham Vein from previous Aston Bay drilling. Deepest-yet intercept of the Buckingham vein at 85 m vertical depth; vein remains open at depth. Additional broad zones of lower grade disseminated gold mineralization to west and west- northwest of the Buckingham Vein in core-length intercepts of: 0.37 g/t Au over 52.66 m (hole BUCK20-007B). 0.24 g/t Au over 30.78 m (hole BUCK20-008). 0.40 g/t Au over 22.73 m (hole BUCK20-009), and 1.01 g/t Au over 9.00 m (hole BUCK20-010). Ongoing Phase 2 drilling has encountered gold bearing quartz vein material in four drill holes up to 115 m farther southeast along strike, indicating a total additional along-strike extension of 150 m for the Buckingham vein; as well, the vein remains open to the southeast. Three drill holes (BUCK20-014, -015 and -016) targeted the south-east extension of the Buckingham Vein. The previously known south-east extent of the vein was delineated in 2019 Aston Bay drilling that yielded 24.7 grams/tonne (g/t) Au over 3.3 m including 34.2 g/t Au over 0.5m and 24.7 g/t Au over 3.57 m including 62.5 g/t Au over 1.39 m in BUCK19-003 and -004. A hole drilled by a previous operator in 2016 (WAR16-004) located 35 m southeast along strike from the two Aston Bay drill holes yielded modest results of 0.9 g/t Au over 1.7 m in a zone of poorly recovered quartz-altered rock and quartz veining, casting doubt on continuation of a productive vein. The current drilling by Aston Bay, however, yielded core-length intercepts of 5.81 g/t Au over 6.29 m including 29.9 g/t Au over 0.92 m, 19.25 g/t Au over 1.4 m and 14.54 g/t Au over 1.06 m in quartz vein from BUCK20-014, -015 and 016, representing a 35 m along-strike extension and a 50 m down-dip extension of the Buckingham Vein. Seven drill holes (BUCK20-007 through BUCK20-013) targeted the transition from the Buckingham Vein into a zone of gold-bearing sericite-quartz-pyrite mineralization. Previous drilling by Aston Bay and a previous operator intersected broad zones of gold mineralization (2.2 g/t Au over 18.0 m and 1.9 g/t Au over 22.2 m in BUCK19-005 and 0.7 g/t Au over 13.7 m in WAR16-006) west of and northwest along strike of the Buckingham Vein. Four of the current drill holes (BUCK20-007, -008, -009 and 010) that were collard along the line of strike or west of the vein intersected broad zones of lower grade, but significant, gold mineralization (e.g., 0.37 g/t Au over 52.66 m, 0.24 g/t Au over 30.79 m, 0.40 g/t Au over 22.73 m, and 1.01 g/t Au over 9.00 m). No significant intersections were noted in the three drill holes collared north of the strike of the Buckingham Vein (BUCK20-011, -012 and -013). Phase 2 of the drilling program at the property is currently underway, with six drill holes completed to date. Gold-bearing quartz vein material was intercepted in all four of the step-out drill holes located up to 115 m along strike from the Phase 1 drilling of the Buckingham Vein. Samples from the initial three drill holes, two drill holes targeting the vein and one drill hole targeting disseminated mineralization, have been shipped to the laboratory for analysis by standard fire assay techniques which will include metallic screen assaying of selected intervals with visible alteration and mineralization (including visible gold). Results are anticipated in the coming weeks. Drilling of the seventh and final drill hole in the Phase 2 program is underway and anticipated to be completed soon. The Company will provide an update on the Phase 2 program next week. The NW-SE trending Buckingham Main Zone, which comprises a series of visible gold-bearing quartz vein outcrops that extend over a strike length of some 150 m have yielded grab sample assay values up to 701 grams per tonne (g/t) Au. The veining and alteration encountered in the current drill program is similar to that encountered in the 2019 drilling of the zone, which included core-length intercepts of up to 35.6 g/t Au over 2.03 m and 24.7 g/t Au over 3.57 m in gold-bearing quartz veins, as well as 2.2 g/t Au over 18.1 m and 1.9 g/t Au over 22.2 m in adjacent but separate sericite-quartz-pyrite alteration zones. The gold-bearing system is hosted within a package of likely Cambrian-age sediments, including greywackes with minor quartz-arenites (phyllite, schist and quartzites), within the Appalachian orogenic belt. This region is the site of the historically prolific Pyrite Belt which hosted a reported 250 gold mines that were in production prior to the California gold rush of 1849 but has seen little recent mineral exploration. Gold production has also occurred to the south in the Carolina Slate Belt, notably at OceanaGold's Haile Mine located in South Carolina with commercial production commencing in 2017 and slated to produce up to 150,000 ounces of gold per year.