Aston Bay Holdings Files Initial NI 43-101 Report for Storm Copper Project, Revealing Significant Mineral Resources

Aston Bay Holdings Ltd. has filed its initial NI 43-101 technical report for the Storm Copper Project, revealing a comprehensive Mineral Resource Estimate that underscores the project's significant potential in the Nunavut region of Canada. The initial resource report outlines indicated resources of 8.2 million tonnes at 1.47% copper and inferred resources of 3.3 million tonnes at 1.30% copper across six distinct deposits. This substantial resource base positions the project as a noteworthy development in the Canadian copper exploration sector.

More than 90% of the contained metal can be accessed through open-pit mining techniques, with mineralization predominantly consisting of high-grade chalcocite. This characteristic significantly enhances the project's economic viability by reducing extraction costs and simplifying the mining process. The high percentage of open-pit accessible resources represents a crucial advantage for the project's development timeline and capital expenditure requirements.

A key highlight of the report is that all six deposits remain geologically open, suggesting substantial opportunities for future resource expansion. Recent high-grade discoveries further reinforce the project's potential for growth and increased mineral reserves. The geological openness of the deposits indicates that the current resource estimate likely represents only a portion of the project's total mineral potential, providing significant upside for future exploration and development activities.

The company has strategically planned a Preliminary Economic Assessment scheduled for the third quarter of 2025. This assessment will be supported by a funding package that could cover up to 80% of initial development costs, indicating strong investor and industry confidence in the project's viability. The substantial funding support demonstrates the market's recognition of the project's technical merit and economic potential, which is crucial for advancing through subsequent development stages.

Aston Bay's Storm Project is being developed through a joint venture with American West Metals Limited, where Aston Bay holds a carried interest until a mining decision is made. This collaborative approach allows the company to minimize upfront financial risks while maintaining a significant potential stake in the project. The joint venture structure provides financial stability and technical expertise while preserving Aston Bay's exposure to the project's success, creating an optimal risk-reward balance for the company and its shareholders.