Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ('Aston Bay' or the 'Company') reports additional assay results confirm thick intervals of copper mineralization from its ongoing delineation drilling program at the Storm Copper Project ('Storm' or the 'Project') on Somerset Island, Nunavut, Canada.

This is the second drilling program for American West Metals Limited ('American West'), who are the project operator, since entering an option agreement with Aston Bay in March 2021.

Assay results have been received for an additional five drill holes from the current program at the 4100N Zone, and all have intersected thick intervals of near-surface copper sulfides with grades up to 7% Cu. The assays continue to match or exceed visual estimations as previously reported.

The near-surface setting, thick intersections, and high grades of the copper mineralization support the potential for a low-cost open pit mining operation. We continue to assess this outstanding opportunity with resource modeling, beneficiation test work and environmental studies in progress.

Once again, the impressive results continue to come in from the ongoing exploration conducted by our partner American West Metals at Storm,' stated Thomas Ullrich, CEO of Aston Bay.

We believe these high-grade copper intercepts will support the development of a significant resource. We look forward to further results from our spring program and anticipate an exciting second program coming up this summer at Storm.'

INCREASING RESOURCE CONFIDENCE AND SIZE POTENTIAL

Assay results from drill holes SR23-02, SR23-03, SR23-04, SR23-05 and SR23-06 have been received and confirm thick intervals of near-surface copper sulfides within the 4100N Zone.

The drilling results received to date demonstrate consistent copper grades and excellent lateral continuity of the high-grade mineralization. Additionally, drilling results show significant thicknesses of coherent copper mineralization (1% Cu up to 32% Cu in gossans.

Stated drill hole intersections are all core length, and true width is expected to be 60% to 95% of core length.

About Aston Bay Holdings

Aston Bay is a publicly traded mineral exploration company exploring for high-grade copper and gold deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company's advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona. The Company is currently exploring the high-grade Buckingham Gold Vein in central Virginia and is in advanced stages of negotiation on other lands with high-grade copper potential in the area.

The Company is 100% owner of the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.

About American West Metals Limited

AMERICAN WEST METALS LIMITED (ASX: AW1) is an Australian clean energy mining company focused on growth through the discovery and development of major base metal mineral deposits in Tier 1 jurisdictions of North America. Our strategy is focused on developing mines that have a low-footprint and support the global energy transformation.

Our portfolio of copper and zinc projects in Utah and Canada include significant existing resource inventories and high-grade mineralization that can generate robust mining proposals. Core to our approach is our commitment to the ethical extraction and processing of minerals and making a meaningful contribution to the communities where our projects are located.

Led by a highly experienced leadership team, our strategic initiatives lay the foundation for a sustainable business which aims to deliver high-multiplier returns on shareholder investment and economic benefits to all stakeholders.

FORWARD-LOOKING STATEMENTS

Statements made in this news release, including those regarding the Option Agreement, grant of the Option and the expected closing date, American West's interest in the Storm Project and its other acquisitions and plans, plans for the upcoming field season, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute 'forward-looking statement', which can be identified by the use of conditional or future tenses or by the use of such verbs as 'believe', 'expect', 'may', 'will', 'should', 'estimate', 'anticipate', 'project', 'plan', and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay's expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation.

Contact:

Tel: (416) 456-3516

Email: thomas.ullrich@astonbayholdings.com

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