TORONTO - Aston Bay Holdings Ltd. (TSXV: BAY) (OTCQB: ATBHF) ('Aston Bay' or the 'Company') is pleased to announce that it will resume drilling at its Buckingham Gold Property located in Central Virginia, USA, on June 15th, 2020.

In addition, the Company announces that all core samples from the initial (March 2020) phase of the current drill program have been shipped to the laboratory for analysis, with results anticipated in the coming weeks. Samples will be analyzed by standard fire assay techniques, which will include metallic screen assaying of selected intervals with visible alteration and mineralization (including visible gold). Funding is in place to complete the remaining 800 metres (m) of the current drill program and to conduct additional follow-up drilling.

A total of 1,218 m was drilled in ten diamond drill holes at the Buckingham Main Zone in March 2020 prior to the suspension of the current program due to Covid-19 virus restrictions. Logging of the core confirmed that the 2020 drilling has intersected veining and alteration 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 2.03m and 24.7 g/t Au over 3.57m in gold-bearing quartz veins, as well as 2.2 g/t Au over 18.1m and 1.9 g/t Au over 22.2m in adjacent but separate sericite-quartz-pyrite alteration zones.

FORWARD-LOOKING STATEMENTS

Statements made in this press release, including those regarding the closing and the use of proceeds of the private placement, 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:

Thomas Ullrich

Tel: (416) 456-3516

Email: thomas.ullrich@astonbayholdings.com

(C) 2020 Electronic News Publishing, source ENP Newswire