Toronto, Ontario – October 11, 2017 – Aston Bay Holdings Ltd. (TSX-V: BAY) (“Aston Bay” or the “Company”) is pleased to announce the following updates.

Results of the AGM

At the annual general meeting held October 10, 2017, shareholders approved all resolutions put before them by management, including that the number of directors be set at five, the re-election of Jan-Erik Back, Clifford Boychuk, 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.

Benjamin Cox’s Departure

Aston Bay’s Board of Directors would like to announce the departure of Executive Chairman Benjamin Cox. As the co-founder of Aston Bay, Benjamin has been instrumental in the company’s development over the last six years. “On behalf of the company, I want to thank Benjamin for the enormous part he has played in building the company we have today.” said Thomas Ullrich, Chief Executive Officer and Director of Aston Bay. “We have benefited greatly from Benjamin’s talent, wisdom and experience, and wish him all the best for the future.”

Mr. Cox is the senior advisor of alternative finance for Outotec, a provider of leading process technologies and services for metals and mining, industrial water treatment, alternative energy and chemical industries.

About Aston Bay Holdings Ltd.

Aston Bay Holdings Ltd. (TSX.V: BAY) is a publicly traded mineral exploration company exploring for large, high-grade, sediment-hosted copper and zinc deposits in Nunavut, a mining-friendly Canadian jurisdiction. Aston Bay is 100% owner of the 1,024,345-acres (414,537-hectares) Aston Bay Property located on western Somerset Island, Nunavut. The Aston Bay property hosts the Storm Copper Project and the Seal Zinc Prospect, with historical drilling confirming the presence of sediment-hosted copper and zinc mineralization.

On behalf of the Board of Directors,

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.

Forward-Looking Statements

Statements made in this press release, including those regarding the closing and the use of proceeds of the private placement, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute “forward-looking statement”, which can be identified by the use of conditional or future tenses or by the use of such verbs as “believe”, “expect”, “may”, “will”, “should”, “estimate”, “anticipate”, “project”, “plan”, and words of similar import, including variations thereof and negative forms. This press release contains forward- looking statements that reflect, as of the date of this press release, Aston Bay’s expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation.

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.

FOR ADDITIONAL INFORMATION CONTACT:

Thomas Ullrich, Chief Executive Officer
Telephone: (416) 456-3516
Email: thomas.ullrich@astonbayholdings.com

Sofia Harquail, Investor Relations and Corporate Development
Email: sofia.harquail@astonbayholdings.com

For further information about Aston Bay Holdings Ltd. or this news release, please visit our website at https://astonbayholdings.com.