Aston Bay Holdings Ltd. announced that it has signed an exclusive Letter of Intent with a wholly owned Canadian Subsidiary of BHP Billiton Ltd. to cooperatively advance the Storm Copper Project. Under the terms of the LOI, BHPB may earn a 75% interest in Storm, with a provision in place to convert into a Joint Venture agreement. To earn a 75% interest in Storm, the LOI anticipates BHPB spending a minimum of CAD 40 million on exploration at Storm within nine years (including a minimum of CAD 2.5 million within two years) of signing a definitive agreement.

Aston Bay will have no required exploration expenses for four years from the date of signing the Definitive Agreement. BHPB and Aston Bay are currently discussing terms of the Definitive Agreement, and are targeting completion during the second quarter of 2016. Aston Bay is to hold a gross overriding royalty ("GOR") of 0.3% on all mineral claims covered by the agreement outside of Aston Bay's area of mutual interest with Commander Resources Ltd.