Aston Bay Announces Appointment of Elaine Ellingham to Advisory Board

TORONTO, February 26, 2019 - Aston Bay Holdings Ltd. (TSX-V: BAY; OTCQB: ATBHF) ("Aston Bay" or the "Company") is pleased to announce the appointment of Elaine Ellingham, M.Sc., MBA, PGeo, to the Company's Advisory Board.

Ms. Ellingham is a geologist with over 35 years' experience with major and junior mining companies in exploration, business development, investor relations and senior executive roles. She spent eight years with the Toronto Stock Exchange serving in various capacities and has held directorships over the past ten years for several junior explorers through to mid-tier producers, where she has been a major contributor to strategic direction including hands-on with management in several situations. This included serving as a Director of Richmont Mines for eight years, six as lead director, as well as stepping in as interim CEO in 2014, and through to its recent take-over by Alamos Gold. She is currently a Director of the Prospectors and Developers Association and a member of the Ontario Securities Commissions` Small and Medium Enterprises Advisory Committee. She is currently an active director on the boards of Alamos Gold, Aurania Resources, and Almaden Minerals.

Elaine Ellingham commented, "I welcome the opportunity to join Don Taylor on Aston Bay's Advisory Committee, with a focus on providing support to Tom Ullrich as he further builds Aston Bay as a premier exploration company. The high degree of exploration experience and expertise of the Aston Bay team and Tom's focus on creating shareholder value will continue to drive the company forward towards significant discoveries."

Thomas Ullrich, Chief Executive Officer of Aston Bay, stated: "We are excited to have Elaine join our Advisory Board. She brings a wealth of exploration, corporate governance and financial markets experience, complementary skills to strengthen an already exceptionally solid team. She will provide significant support in our expansion into the United States with our Blue Ridge Project, as well as with our anticipated drill programs in Virginia and Nunavut this year."

ABOUT ASTON BAY HOLDINGS LTD.

Aston Bay is a publicly traded mineral exploration company exploring for large, high-grade, copper, zinc and precious metal deposits in Nunavut, Canada and Virginia, USA. The Company is led by CEO Thomas Ullrich with exploration directed by Chief Geologist Dr. David Broughton, the award-winning co-discoverer of Kamoa-Kakula and Flatreef, in conjunction with the Company's advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona.

The Company is 100% owner of the 1,024,345-acres (414,537-hectares) Aston Bay Property located on western Somerset Island, Nunavut, which neighbours Teck's profitable, past-producing Polaris (Pb-Zn) Mine just 200km to the north. The Aston Bay Property hosts the Storm Copper Project and the Seal Zinc Deposit with drill-confirmed presence of sediment-hosted copper and zinc mineralization.

The Company has also acquired the exclusive rights to an integrated dataset over certain prospective private lands at the Blue Ridge Project, located in central Virginia. These lands are located within a copper-lead-zinc-gold-silver mineralized belt, prospective for sedimentary exhalative (SEDEX) and Broken Hill (BHT) type base metal deposits, as well as Carolina slate belt gold deposits. Don Taylor, who led the predecessor company to Blue Ridge and assembled the dataset, has joined the Company's Advisory Board and will be directing the Company's exploration activities for the Blue Ridge Project.

The Company's public disclosure documents are available on www.sedar.com.

FORWARD-LOOKING STATEMENTS

Statements made in this press release, including those regarding the completion of the acquisition, 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 harbour.

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

FOR ADDITIONAL INFORMATION CONTACT:

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

Sofia Harquail, IR and Corporate Development
sofia.harquail@astonbayholdings.com
Telephone: (647) 821-1337

SOURCE: Aston Bay Holdings Ltd.