ASTON BAY HOLDINGS LTD. WELCOMES JAN-ERIK BACK TO ITS BOARD OF DIRECTORS

Vancouver, Canada – August 18, 2016 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased to announce that Jan-Erik Back has agreed to join the Company’s Board of Directors. Mr. Back is currently Head of Investments and Structured Finance for Engelhart Commodities, a global commodity trading company.

“We are extremely pleased to have Mr. Back returning to the Aston Bay Board of Directors, and are excited about the unique expertise that he will bring to the Company as we lead Aston Bay into the future,” said Aston Bay President and CEO Benjamin Cox.

Mr. Back was previously the COO of RB Resources Group, a diversified natural resources investment company. He also served as a Managing Director at Hatch Corporate Finance, a leading independent corporate finance adviser specializing in the provision of advisory services to clients worldwide in the metals, mining, steel and related industries. Mr. Back previously served as a director of the Company from 2013 to 2014, and has been a member of the Company’s Advisory Board since that time.

The Company would also like to announce the resignation of Joseph Chiummiento as a director of the Company. The Company’s Board of Directors and management would like to thank Joseph for his tremendous contributions as a member of the Board over the last two years, and wishes him well in his future endeavors.

About Aston Bay Holdings

Aston Bay Holdings Ltd. (TSX-V: BAY) is a publicly traded mineral exploration company focused on the 976,066-acre (395,000-hectare) Aston Bay Property located on northwest Somerset Island, Nunavut. The Aston Bay Property hosts the Storm Copper project and has been optioned by BHP Billiton. Historical drilling has confirmed the presence of sediment-hosted copper and zinc mineralization on the property.

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. In the event that management’s beliefs, estimates or opinions, or other factors, should change, the Company undertakes no obligation to update these forward-looking statements, except as required by law.

We seek Safe Harbor.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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