New Risk • Mar 27
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$12.6m (US$9.11m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.2m free cash flow). Earnings have declined by 10% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$12.6m market cap, or US$9.11m). New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.2m free cash flow). Earnings have declined by 10% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$13.9m market cap, or US$10.2m). Announcement • Jan 17
Aston Bay Holdings Ltd. Identifies 17 New Base and Precious Metal Showings At the Epworth Copper-Silver Project, Nunavut, Canada Aston Bay Holdings Ltd. announced results from the 2025 summer field program at its Epworth sediment-hosted copper - silver- zinc- cobalt- gold project located 80 kilometres southeast of Kugluktuk in Nunavut, Canada. Highlights. 17 new base and precious metal showings discovered during the 2025 field program at the Epworth Copper-Silver Project, Nunavut. Copper-gold mineralization identified, with assays up to 5.42% Cu and 1.89 g/t Au and 3.73% Cu with 2.08 g/t Au in disseminated sediment-hosted styles of mineralization. Strong zinc-lead results, including up to 10.1% Zn and up to 17.8% Pb, plus elevated cobalt values up to 379 ppm Co. Mineralization spatially associated with MobileMT conductors, supporting a robust sediment-hosted copper system and potential for significant buried mineralization. Results further de-risk and refine targets for a planned 2026 drill program, testing both high-grade veins and large-scale stratiform Cu-Ag-Co mineralization. Prospecting and mapping identified 17 new base and/or precious metal showings spatially associated with Mobile Magnetotelluric geophysical anomalies, including zones yielding up to 29.2% Cu with 217 grams per tonne ("g/t") Ag, 5.42% Cu with 1.89 g/t Ag, 3.73% Cu with2.08 g/t Au, as well as up to 10.1%Zn, 17.8% Pb and 766 ppm ("parts per million") Co from select grab samples. Seven crew members from Emerald Geological Services spent four weeks working at two float-plane-supported campsites on the property. These showings, especially Clastic, may be analogous to the historical WB Showing in the south-central part of the Property, which historically returned values up to 3.3% Cu, 0.27 g/t Au, and 0.03% Co in quartzite boulders. The WB Showing was subject to the focus of a minor 1995 drill program (1170 m) by Noranda, which did not locate the source of the mineralized boulders but intersected similar reduced coarse clastic sediments with disseminated pyrite +/-chalcopyrite over widths of up to 27 meters (Rees and Petrie 1996). Vein-hosted copper mineralization in the Upper Odjick clastic rocks and mafic sills returned interesting copper values in generally narrow (maximum 40 centimetre) quartz veins or dolomite veinlets. Most showings also occur along or proximal to the Rockn-gold mineralization. 
