Aston Bay Appoints John Hayes to Advisory Board, Grants Stock Options & Reports Results from Shareholder Meeting

Vancouver, British Columbia – October 28, 2014 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) today announced that its Board of Directors has appointed Mr. John Hayes to its Advisory Board.

“Aston Bay is assembling an Advisory Board that can provide insight to the Company’s Management and Directors on issues of corporate strategy and capital markets, as well as mineral exploration and project development,” said Benjamin Cox, Chief Executive Officer of Aston Bay. “We are pleased to welcome Mr. Hayes to our Advisory Board and look forward to his contribution to the Company’s growth. ”

Mr. John Hayes was, until his recent retirement, a Managing Director at BMO Capital Markets, which he had joined in 2003. As a mining equity analyst, he covered precious and base metal companies globally from the exploration to production stage. In addition to his work in capital markets, he has over 17 years of geological experience ranging from regional surveys to advanced exploration. Mr. Hayes graduated from Memorial University of Newfoundland with an Honours Bachelor of Science in Geology (1989) and a Master of Science in Geology (1997). He also holds an MBA from Dalhousie University (2003). He is a member (P.Geo.) of the Professional Engineers and Geoscientists of Newfoundland and Labrador.

Aston Bay also announces that it has granted stock options in accordance with the terms and conditions of its Stock Option Plan, entitling the purchase of an aggregate 780,000 common shares by directors, officers, consultants and management company employees. Each stock option is fully vested on the date of grant and is exercisable at $0.20 per common share until October 27, 2021.

Aston Bay is also pleased to announce the results of its annual general meeting of shareholders held on October 27, 2014. At the meeting, shareholders approved all resolutions put before them by management, including the election of Clifford Boychuk, Joseph Chiummiento, Bruce Counts, Benjamin Cox and Ian McPherson as directors, the re-appointment of the incumbent auditor, and approval of Aston Bay’s previously adopted 10% rolling Stock Option Plan, as required annually by the policies of the TSX Venture Exchange. Shareholders also approved alteration to Aston Bay’s Articles to provide for advance notice procedures for nominations of persons for election as directors, which Aston Bay proposes adopting following receipt of acceptance by the TSX Venture Exchange.

The Company also announced that it has updated its corporate presentation, which is available for viewing or download at http://www.astonbayholdings.com.

About Aston Bay Holdings

Aston Bay Holdings Ltd. (TSX-V: BAY) is a publicly traded mineral exploration company focused on the 345,033-acre Storm Property located on northwest Somerset Island, Nunavut. The Storm Property hosts the Storm Copper and Seal Zinc prospects. In June 2014, Aston Bay signed a binding Memorandum of Understanding (the “MOU”) with a wholly-owned subsidiary of Antofagasta plc (“Antofagasta”) to cooperatively advance the project. The MOU gives Antofagasta the opportunity to earn up to a 70% total interest in Storm, as well as a path to an eventual proposed joint venture, as described in Aston Bay’s press release of June 18, 2014. Aston Bay holds the right to earn or buy up to a 100% undivided interest in the Storm Property from Commander Resources Ltd. (TSX-V: CMD).

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 http://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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