Vancouver, British Columbia – November 28, 2016 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased to announce that Thomas Ullrich has been appointed Chief Executive Officer of the Company, effective November 28, 2016. Mr. Ullrich has been the Chief Operating Officer and Executive Vice President – Exploration since February 1, 2016. Prior to joining the Company, Mr. Ullrich had significant executive-level experience with both majors and juniors in the metals and mining industry.

“I am very pleased with the direction we have taken this Company and the Storm project’s very promising exploration potential to be a high-grade, large tonnage copper target in North America,” said Mr. Ullrich. “I am honored to take the lead to continue to advance the project with Aston Bay and its partners.”

Benjamin Cox will continue to take a strong executive role in formulating, planning and executing Aston Bay Holdings’ strategic direction for the foreseeable future as Executive Chairman. Mr. Cox founded the Company’s predecessor company, Aston Bay Ventures Ltd., in 2011. “Now that Aston Bay is focused on our ground-level exploration activities, I am very pleased to hand the management reins to Tom. I will continue to be closely involved in directing the Company’s strategy and leading the Board’s oversight,” said Mr. Cox.

Mr. Ullrich has over 20 years’ experience in mineral exploration and geoscience. He has been Chief Geologist North America for Antofagasta Minerals plc since 2011, investigating the region’s copper potential through extensive property evaluations and management of drill programs in Alaska and Canada. Prior to Antofagasta, he was Senior Geologist for Almaden Minerals, where he managed the drill program for the team’s discovery of the Ixtaca Ag-Au deposit in Mexico.

Aston Bay is also pleased to announce the results of its annual general meeting of shareholders held on November 14, 2016. At the meeting, shareholders approved all resolutions put before them by management, including the election of Jan-Erik Back, Clifford Boychuk, Benjamin Cox, Michael Dufresne, Ian McPherson and Thomas Ullrich 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 Exchange policies.

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 hectares) 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, Executive Chairman

Telephone: (360) 262-6969

Thomas Ullrich, Chief Executive Officer

Telephone: (416) 456-3516

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. 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.