Toronto, Canada – January 20, 2017 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) today announced that it has received notice from BHP Billiton Ltd. (“BHP Billiton”) that it intends to formally terminate its Option Agreement for the Storm Copper Project (“Storm”). The signing of the Option Agreement was announced by the Company on May 31, 2016.
“We remain confident in the technical merits of the Storm Copper and Seal Zinc Projects, as well as the exploration potential for both copper and zinc on Somerset Island,” stated Thomas Ullrich, Chief Executive Officer of Aston Bay. “The company is well capitalized with at least two years’ estimated funds for general and administrative expenses. We look forward to advancing these projects and expect to provide further guidance in the coming weeks.”
As per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Michael Dufresne, M.Sc,P.Geol., a Director and a consultant to Aston Bay, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting its exploration activities on the Strom Project.
On behalf of the Board of Directors,
Thomas Ullrich, Chief Executive Officer
For further information about Aston Bay Holdings Ltd. or this news release, please visit our website at http://www.astonbayholdings.com.
About BHP Billiton Ltd.
Further information on BHP Billiton can be found at: bhpbilliton.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.
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