On Monday 10 20, 2025 at 7:00AM ET Aston Bay and American West Metals Intersect Copper Mineralization Outside of Proposed Pit Designs at the Storm Project, Nunavut, Canada Assays up to 27.3% copper highlight potential for resource expansion
On Monday 10 20, 2025 at 7:00AM ET
Aston Bay and American West Metals Intersect Copper
Mineralization Outside of Proposed Pit Designs at the Storm
Project, Nunavut, Canada
Assays up to 27.3% copper highlight potential for resource expansion
Highlights:
Cyclone drilling discovers more high-grade copper: Assays confirm that the latest diamond drilling at the Cyclone Deposit has
intersected thick, high-grade, near-surface copper intervals outside of the current pit designs, including:
Drill hole PFS-002:
12.1metres ("m") @ 5.6% copper ("Cu"), 21 grams/tonne ("g/t") silver ("Ag") from 70m, including,
3.8m @ 8.1% Cu, 31g/t Ag from 72.7m downhole, including,
0.5m @ 27.3% Cu, 80g/t Ag from 76m downhole, and
2.3m @ 4.6% Cu, 21.8g/t Ag from 78.1m downhole
Drill hole PFS-001:
18.2m @ 1.1% Cu, 11g/t Ag from 30m downhole, including,
7.1m @ 2.2% Cu,12g/t Ag from 33.4m downhole, and,
7.5m @ 0.5% Cu, 3.8g/t Ag from 81m downhole, outside of the current pit design, including
2.2m @ 1.1% Cu, 7.9g/t Ag from 86.3m downhole
Reverse Circulation (RC) drilling results support resource upgrade and expansion: Assays from the resource drilling around
and within the Cyclone, Chinook, Thunder, and Cirrus Deposits continue to intersect thick copper intervals with positive
implications for resource expansion at Storm.
Mine development workstreams continue with permitting andPre-Feasibility Study ("PFS") work underway for a potential
mine development at Storm.
TORONTO, ON / ACCESS Newswire / October 20, 2025 / Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston
Bay" or the "Company") is pleased to provide an update on exploration activities at the Storm Copper Project ("Storm" or the
"Project") on Somerset Island, Nunavut. American West Metals Limited ("American West"), the Project operator, is conducting
the exploration program. Aston Bay and American West have formed a 20/80 unincorporated joint venture with respect to the
Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine is made upon completion of a
bankable feasibility study.
Thomas Ullrich, Chief Executive Officer of Aston Bay,commented:
"We are very encouraged by these new intercepts of near-surface copper mineralization at Storm. In addition to high-grade
intervals within the current resource envelope, geotechnical drilling has intercepted thick, high-grade intervals up to 27.3%
copper within the proposed pit walls, extending beyond the limits of the current resource. These results strongly support the
potential for significant resource expansion at Storm.
Additional assays remain pending and permitting activities are advancing as the Project moves rapidly toward a resource update
and Pre-Feasibility Study in early 2026. With these near-term development plans in the works, we anticipate that Storm Project
will receive recognition from Canadian government agencies charged with advancing domestic supply chains for critical
minerals."
Figure 1: Diamond drilling at the Cyclone Deposit, Storm Project, Nunavut.
COPPER INTERSECTIONS OUTSIDE OF CURRENT PROPOSED CYCLONE PIT
Assay results from the first two geotechnical/resource diamond drill holes at the Cyclone Deposit have been received and
highlight the resource upgrade and expansion potential of the current proposed open pit design.
The assays confirm thick and high-grade intersections of copper close to the surface outside of the proposed pit design, as well as
within other key areas within the current resource envelope. The drilling was designed for geotechnical purposes (testing the open
pit wall designs) and to test the margins of the deposit. The deposit remains open to the north and north-west.
Drill hole PFS-001 details
PFS-001 was drilled to a depth of 152m on the southern margin of the Cyclone Deposit (Figures 2, 6 & 7).
The drill hole intersected two broad zones of sulphide mineralization (see Table 1). The upper zone from 30-48m (Figure 3) is
similar to that intersected in SR24-070 and extends the mineralization 16m south within the designed pit. The lower zone of
mineralization is located from 81-86m and outside of the current pit design (Figure 2).
The drill hole is interpreted to have intersected one of a series of faults that bound the central graben to the north and offset the
stratigraphy downward to the south. Two styles of mineralization are present within PFS-001: stratabound at a depth of
approximately 83m and intermittent fault-hosted at a downhole depth of 92m. The copper sulphide mineralization is hosted
within a thick sequence of fractured and brecciated dolomudstones of the Allen Bay Formation.
Figure 2: Schematic NE-SW geological section (+/-25m) through PFS-002. Significant copper mineralization has been
intersected outside of the current open-pit design.
Figure 3: Dense breccia and semi-massive visual chalcocite (dark grey mineral) in drill hole PFS-001 (33.4-40.5m downhole).
This interval assayed at an average grade of 2.2% Cu, 12g/t Ag.
Hole ID Prospect From To Int. Cu % Ag g/t Zn ppm
PFS-001 Cyclone 30.0 48.2 18.2 1.1 11 537
Incl. 33.4 40.5 7.1 2.2 12 22
and 41.5 42.0 0.5 0.9 10 10
and 43.0 44.0 1.0 0.5 6.0 60
and 46.3 48.2 1.9 0.7 23 94
51.7 52.2 0.4 3.3 28 30
58.0 58.5 0.5 1.1 4.0 20
65.0 66.0 1.0 0.4 3.0 30
67.4 68.0 0.7 0.4 2.0 40
81.0 88.5 7.5 0.5 3.8 3,750
Incl. 84.0 85.0 1.0 0.6 1.5 45
and 86.3 88.5 2.2 1.1 7.9 9,860
Table 1: Summary of significant drill intersections in PFS-001 using a 0.3% Cu cut-off grade. The intersections are expressed as
downhole widths and are interpreted to be close to true widths.
Drill hole PFS-002 details
PFS-002 was drilled to a depth of 176m on the northern margin of the Cyclone Deposit (Figures 5, 6 & 7).
The drill hole has intersected a broad zone of copper mineralization (see Table 2), including semi-massive chalcocite (Figure 4)
between 70-82.1m downhole at an average grade of 5.6% Cu. The copper sulphide mineralization is hosted within a thick
sequence of fractured dolomudstones of the Allen Bay Formation. The mineralized interval consists of stratabound veinlets and
breccias and is zoned, like the rest of the Cyclone Deposit, with a core of chalcocite surrounded by lesser pyrite.
The copper mineralization in PFS-002 is located approximately 70m to the north of the current pit design. Follow-up drilling
further to the north-east also intersected mineralization within the same horizon (9.1m @ 0.6% Cu, 3.7g/t Ag in SR25-017 -
Figure 5). The mineralized horizon remains open to the north and along the entire northern margin of the deposit, highlighting the
growth potential of the existing resource.
Figure 4: Dense semi-massive and breccia visual chalcocite (dark grey mineral) from PFS-002 (72.7-76.5m downhole). This
interval assayed at an average grade of 8.3% Cu, 31g/t Ag.
Figure 5: Schematic NE-SW geological section (+/-25m) through PFS-002. Significant copper mineralization has been
intersected outside of the current open-pit design.
Hole ID Prospect From To Int. Cu % Ag g/t Zn ppm
PFS-002 Cyclone 65.7 66.5 0.8 3.1 8.0 440
70.0 82.1 12.1 5.6 21.0 464
Incl. 70.5 72.0 1.5 3.0 10.0 27
and 72.7 76.5 3.8 8.1 31.0 724
Incl. 76.0 76.5 0.5 27.3 80.0 4,300
and 78.1 80.4 2.3 4.6 21.8 561
and 80.7 82.1 1.4 7.0 24.3 180
83.0 84.0 1.0 0.7 4.0 610
108.8 110.0 1.2 0.6 3.2 127
Table 2: Summary of significant drill intersections in PFS-001 using a 0.3% Cu cut-off grade. The intersections are expressed as
downhole widths and are interpreted to be close to true widths.
Figure 6: Drill hole locations from the 2025 geotechnical and resource drilling program included in this report, overlaying
deposit MRE outlines and existing drilling, overlying aerial photography.
Figure 7: Drill hole locations at Cyclone from the 2025 geotechnical and resource drilling program included in this report,
overlaying MRE and pit outlines, existing drilling, and aerial photography. (Figure 3 and 5 section lines are indicated by light
shaded areas).
THICK COPPER INTERSECTIONS FROM RC DRILLING
Assay results from the additional Reverse Circulation (RC) resource drilling at the Corona, Thunder, Chinook, and Cyclone
Deposits have been received and continue to highlight the strong continuity and resource upgrade potential of these deposits
(Figure 6, 7 & 8).
Thick intersections of copper close to the surface have been confirmed in key areas within and outside of the current resource
envelopes (drill holes SR25-011, -015, -016, -017, -019, and -020). The drilling was designed to upgrade the existing inferred
category resources and to potentially expand the current open-pit designs. Importantly, several of these intervals have higher
grades than the current resource estimate (MRE), confirming confidence in the continuity and quality of the current resources.
Figure 8: Drill hole locations in the southern areas from the 2025 resource drilling program included in this report, overlaying
MRE and pit outlines, existing drilling, and aerial photography.
Hole-ID Prospect From To Interval Cu_pct Ag_ppm Zn_ppm
SR25-015 Cyclone 73.2 74.7 1.5 0.3 1.0 10
SR25-016 Cyclone 68.6 70.1 1.5 0.4 3.0 90
73.2 79.2 6.1 1.0 8.8 2,870
Incl. 74.7 76.2 1.5 2.0 14.0 230
82.3 83.8 1.5 1.3 8.0 4,970
85.3 86.9 1.5 0.4 13.0 8,460
SR25-017 Cyclone 59.4 61.0 1.5 0.5 2.0 20
Incl. 76.2 77.7 1.5 1.2 6.0 370
88.4 97.5 9.1 0.6 3.7 297
100.6 103.6 3.0 0.6 1.5 100
SR25-019 Cirrus 21.3 24.4 3.0 1.0 1.0 45
Incl. 21.3 22.9 1.5 1.5 1.0 50
30.5 32.0 1.5 0.3 4.0 170
33.5 35.1 1.5 1.0 4.0 90
45.7 48.8 3.0 1.4 3.5 25
Incl. 47.2 48.8 1.5 1.7 5.0 30
56.4 59.4 3.0 0.7 2.0 10
SR25-020 Thunder 30.5 32.0 1.5 0.9 1.0 10
50.3 51.8 1.5 0.4 1.0 10
53.3 54.9 1.5 2.7 3.0 10
57.9 61.0 3.0 0.8 1.5 10
SR25-021 Chinook 0.0 3.0 3.0 0.7 6.0 35
18.3 22.9 4.6 0.7 2.3 40
24.4 25.9 1.5 0.4 1.0 90
Table 3: Summary of significant drilling intersections in this report using a 0.3% Cu cut-off grade. The intersections are
expressed as downhole widths and are interpreted to be close to true widths.
Hole ID Prospect Easting Northing Type Depth
(m) Azi Dip Comments
SR25-01 Thunder 465245 8172771 RC 165 182 -88 Resource upgrade
SR25-02 Thunder 464970 8172881 RC 125 181 -63 Resource upgrade
SR25-03 Cyclone 464800 8173996 RC 150 360 -75 Exploration
SR25-04 Cyclone 464900 8173977 RC 150 360 -75 Exploration
SR25-05 Corona 466390 8172256 RC 90 178 -56 Resource upgrade
SR25-06 Corona 466430 8172256 RC 90 184 -65 Resource upgrade
SR25-07 Corona 466370 8172241 RC 82 175 -67 Resource upgrade
SR25-08 Corona 466093 8172243 RC 46 360 -65 Resource upgrade
SR25-09 Lightning 466171 8172515 RC 165 360 -60 Resource upgrade
SR25-10 Gap 464066 8173192 RC 150 191 -50 Exploration
SR25-11 Gap 463938 8173162 RC 150 170 -50 Exploration
SR25-12 Squall 464827 8172501 RC 200 360 -65 Exploration
SR25-13 Cycl W 463934 8174739 RC 201 360 -76 Exploration
SR25-14 Cycl W 464205 8174385 RC 201 180 -70 Exploration
SR25-15 Cyclone 464553 8174330 RC 201 180 -70 Resource upgrade
SR25-16 Cyclone 464750 8174407 RC 192 179 -70 Resource upgrade
SR25-17 Cyclone 464981 8174407 RC 201 180 -70 Resource upgrade
SR25-18 Hailstorm 465288 8172259 RC 168 135 -55 Exploration
SR25-19 Cirrus 462432 8173883 RC 79 180 -70 Resource upgrade
SR25-20 Thunder 465335 8172920 RC 122 179 -73 Resource upgrade
SR25-21 Chinook 466430 8172736 RC 194 360 -60 Resource upgrade
SR25-22 Exploration 467696 8171637 RC 201 215 -60 Exploration
SR25-23 Exploration 468919 8171463 RC 201 233 -60 Exploration
SR25-24 Exploration 473824 8169283 RC 165 360 -60 Exploration
SR25-25 Exploration 472548 8168428 RC 200 234 -61 Exploration
SR25-26 Exploration 468424 8171510 RC 200 360 -90 Exploration
SR25-27 Thunder S 465479 8172512 RC 200 155 -70 Exploration
SR25-28 Squall 464951 8172588 RC 150 120 -60 Exploration
SR25-29 Gap 463979 8173237 RC 150 208 -48 Exploration
ST25-01 Cirrus 465051 8174321 DDH 191 035 -70 Redrilled as ST25-02
ST25-02 Cyclone S 464948 8174227 DDH 440 360 -75 Exploration
ST25-04 Cirrus D. 463035 8173900 DDH 692 212 -70 Target EM plates
PFS-001 Cyclone 464629 8174119 DDH 152 227.18 -65.7 Geotech/Resource
PFS-002 Cyclone 464898 8174357 DDH 176 50 -60 Geotech/Resource
PFS-003 Cyclone 465422 8174036 DDH 155 143.11 -61.5 Geotech/Resource
PFS-004 Cyclone 465619 8174327 DDH 212 319.8 -59.8 Geotech/Resource
PFS-005 Chinook 466339 8172795 DDH 179 140 -65 Geotech/Resource
PFS-006 Chinook 466138 8172835 DDH 125 260 -70 Geotech/Resource
PFS-007 Chinook 466216 8172875 DDH 161 20 -60 Geotech/Resource
Table 4: 2025 drill program details. Bold rows are results included in this announcement.
FORWARD PROGRAM
Assays for the remaining drill holes from the 2025 season are pending.
Detailed work continues on a range of Pre-Feasibility Study (PFS) activities, including metallurgy and process
optimization, geotechnical assessment, waste rock and mineralization geochemical studies, operational expenditures