Aston Bay and American West Metals Secure C$17.1 Million for Storm Copper Project

Aston Bay Holdings Ltd. and its joint venture partner, American West Metals, have announced a C$17.1 million funding agreement provided by Australian-based Taurus Mining Royalty Fund L.P. The funds will support the exploration and development of the Storm Copper Project in Nunavut, Canada.

The funding is structured in stages, with initial proceeds of C$6.85 million upon deal finalization, followed by additional allocations upon meeting certain project milestones. Aston Bay will receive C$3.425 million from the total amount, with no restrictions on the use of these proceeds.

The funds will facilitate an expansive 20,000-meter drilling program and accelerate logistical planning for 2025 field activities. Taurus will acquire a 0.95% gross override royalty on all production from the Storm project.

This agreement ensures non-dilutive financing for Aston Bay, allowing it to advance other projects within its portfolio. The partnership aims to expedite the development of Storm's high-grade copper resources while maintaining a strong financial position.