Toronto, Canada (FSCwire) - 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.”
Qualified Person
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.
