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Vancouver, British Columbia - May 6, 2013 - Aston Bay Holdings Ltd. (TSX-V: BAY) ("Aston Bay" or the "Company") wishes to provide shareholders with a corporate update. The Company's shares will begin trading on the TSX Venture Exchange on May 6, 2013 as a result of the completion of the Qualifying Transaction of Escudo Capital Corporation ("Escudo"), as noted in Escudo's news release dated May 2, 2013.
Historical Data
Pursuant to a news release on January 9, 2013 issued by Aston Bay's wholly-owned subsidiary, Aston Bay Ventures Ltd. ("Ventures"), Ventures acquired an historical data set from the original owner of the Storm Copper and Seal Zinc Projects. The Company is currently processing the data and expects to have news based on the information from the data set over the course of the next year. One of the Company's core focuses in 2013 will be to consolidate all of the historical information, and determine how to proceed with exploration based on is the information found.
Summer Program
Aston Bay intends to conduct a two-week summer program in 2013. The following are expected to occur:
-Assaying the shoulders of historical copper holes to explore the concept of a lower grade halo effect around the high-grade ore in the Storm Copper Project.
-Collecting a small zinc bulk sample for metallurgical purposes at the Seal Zinc Project.
-Showing the projects in site visits to one or more major producing mining companies and other possible stakeholders.
-Completing any work that is required to update a new technical report with integrated historical data.
Aston Bay already has one signed confidentiality agreement and a site visit planned with a currently producing copper company.
Management is seeking stakeholder involvement, which will be a multi-year process.
Corporate and Project Structure
The Company wishes to explore funding models for a 2014 drill program and for long-term site development. Aston Bay also wishes to engage other parties and explore possible methods of sharing the development process. The largest shareholders of the Company have agreed to a two-year escrow on their shares. Members of the Board may purchase additional stock on the open market in the coming weeks to further their ownership stake in the Company.
About Aston Bay Holdings Ltd.
Aston Bay Holdings is a Canadian copper and zinc exploration company advancing the Storm Copper and Seal Zinc projects on Somerset Island, Nunavut.
Aston Bay may earn up to a 70% interest in both projects, in accordance with an Option and Earn-In Agreement signed in 2011 between its wholly owned subsidiary, Aston Bay Ventures Ltd., and Commander Resources Ltd. (TSX-V: CMD). An experienced team leads the Company with diverse backgrounds in geology and finance.
Michael Dufresne, P.Geol., Aston Bay's qualified person under National Instrument 43-101, supervised the preparation of the scientific and technical information concerning the Company's mineral project contained in this news release. For a description of the key assumptions, as well as data verification procedures and a general discussion of the extent to which the estimates may be affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or other relevant factors, please see the Technical Report for the Company's project as filed on SEDAR at www.sedar.com.
On behalf of the Board of Directors
Benjamin Cox, Chief Executive Officer
Telephone: (360) 262-6969
For further information about Aston Bay Holdings Ltd or this news release, please visit our website at www.astonbayholdings.com.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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