Mr. Thomas Ullrich reports

ASTON BAY HOLDINGS LTD. FILES INITIAL MINERAL RESOURCE ESTIMATE TECHNICAL REPORT FOR THE SEAL ZINC DEPOSIT ON SEDAR

Aston Bay Holdings Ltd. has filed on SEDAR of an initial inferred mineral resource estimate for its 100-per-cent-owned Seal zinc deposit located on the Aston Bay property on Somerset Island, Nunavut. The mineral resource estimate results were previously disclosed in the company's news release of Dec. 6, 2017.

The report, titled "Initial Mineral Resource Estimate and Technical Report for the Seal Zinc Deposit, Aston Bay Property, Somerset Island, Nunavut," is effective as of Oct. 6, 2017, and signed Jan. 17, 2018. The technical report was written by independent qualified persons at P&E Mining Consultants Inc. and is in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects.

           HIGHLIGHTS OF INFERRED MINERAL RESOURCE ESTIMATE 
               AT 4.0-PER-CENT-ZINC-EQUIVALENT CUT-OFF 

Tonnage         Zn     Contained Zn       Ag      Contained Ag      ZnEq   
(Mt)            (%)         (000s t)     (g/t)        (000s oz)       (%)

1.006        10.24              103      46.5            1,505     11.44 
 
Notes:
(1) This mineral resource estimate is reported in accordance with the 
Canadian Securities Administrators' NI 43-101 and has been estimated 
using the CIM (Canadian Institute of Mining, Metallurgy and Petroleum) 
estimation of mineral resources and mineral reserves best practice 
guidelines and the CIM definition standards for mineral resources 
and mineral reserves.
(2) An inferred mineral resource has a lower level of confidence than 
that applying to an indicated mineral resource and must not be 
converted to a mineral reserve. It is reasonably expected that the 
majority of inferred mineral resources in this estimate could be 
upgraded to indicated mineral resources with continued exploration.
(3) Mineral resources, which are not mineral reserves, do not have 
demonstrated economic viability. The estimate of mineral resources may 
be materially affected by environmental, permitting, legal, title, 
taxation, socio-political, marketing or other relevant issues.
(4) ZnEq (per cent) is equal to Zn (per cent) plus (Ag (grams per 
tonne) divided by 39).
(5)  The underground mineral resource estimate cut-off of 4.0 per 
cent ZnEq is based on approximately Sept. 30, 2017, two-year 
trailing average metal prices of $1 (U.S.) per pound zinc and 
$17 (U.S.) per ounce silver, a U.S.-dollar exchange rate of 76 cents, 
estimated mining cost $50 per tonne, process cost of $25 per tonne, 
general and administrative cost of $10 per tonne, process recovery 
of 90 per cent, concentration ratio of 8:1, smelter payables of 
95 per cent, concentrate freight of $60 per tonne, and smelter 
treatment charges of $100 per tonne.

The technical report is available on SEDAR under the company's profile, as well as on the company's website.

Qualified persons

As per NI 43-101, Michael Dufresne, MSc, PGeol, PGeo, a director of and a consultant to Aston Bay, is the qualified person for the company, and he 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 Storm project. Eugene Puritch, PEng, FEC, CET, of P&E Mining Consultants Inc., an independent qualified person as defined by NI 43-101, has reviewed and approved the technical contents of this news release.

About Aston Bay Holdings Ltd.

Aston Bay Holdings 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 the 100-per-cent owner of the 1,024,345-acre/414,537-hectare 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.

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