Aton announces Operations and Corporate Update

October 1, 2021 5:30 PM EDT

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VANCOUVER, British Columbia, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) ("Aton" or the "Corporation") announces the following operations and corporate updates.

Operations Update

Aton signed a drilling contract with Energold Drilling Ltd. in June to complete a minimum of 4,250 metres of diamond drilling at the Corporation’s Abu Marawat Concession (see news release dated June 14, 2021). At the time of signing the contract it was expected that drilling would commence in September 2021. Due to export clearance and shipping delays caused by the COVID-19 pandemic, the scheduled delivery date of the drill rig to the port in Egypt is now October 9, 2021. As a result, Aton expects to commence drilling during the month of November 2021. A summary of the drill program is provided below.

The program will commence at Rodruin with 3,350 metres of drilling, with the objective of following up on the successful 2018 reverse circulation percussion drill program, as well as testing for the first time the high-grade veins sampled at surface on the North Ridge, which returned assays of up to 321 g/t Au (see news release dated February 6, 2018). Drilling will also further test and delineate the distribution of the near-surface oxide mineralisation identified on the South Ridge, which returned intercepts including 36m @ 12.47 g/t Au (see news release, dated October 1, 2018) and 20m @ 5.36 g/t Au (see news release, dated December 10, 2018). The program will also follow up on the deeper sulphide mineralisation which returned wide intersections including 61m @ 1.55 g/t Au, 8.9 g/t Ag and 0.86% Zn (see news release dated January 29, 2019).

The drilling program at Hamama will consist of 900 metres of drilling with the objective of delineating additional oxide and transitional resources at the Hamama East and Central areas, which have not been effectively drill tested to date. Channel sampling of surface trenches has indicated the potential for relatively high grade oxide mineralisation, and has returned intercepts including 84m @ 1.13 g/t Au, 49.7 g/t Ag and 7.29% Zn and 42.8m @ 1.28 g/t Au, 55.5 g/t Ag and 10.37% Zn (see news release dated May 3, 2018).

During the last six months the Corporation has completed all the necessary work required to commence the above noted drill program, including the acquisition of capital items, construction of a new camp at the Rodruin project, road construction and drill pad preparation.

Aton’s exploration team has also resumed field activities, continuing with the surface channel sampling program at Rodruin, and have also undertaken further sampling, mapping and ionic leach sampling at the Abu Gaharish prospect. Samples have been dispatched to the ALS Minerals for analysis, and results will be released when they become available.

Corporate Update

Due to other professional commitments, Mr. Bill Koutsouras has resigned from his position as Director and Interim CEO of the Corporation, effective immediately. Mr. Koutsouras will continue to be available to provide ongoing support to the Corporation in the future as an advisor.

Mr. Tonno Vahk will assume the role of Interim CEO, effective immediately and until such time as a permanent CEO is recruited by the Board of Directors. Mr. Vahk has been a director of Aton since 2017 and is a significant shareholder of the Corporation with his current shareholding (held indirectly in OU Hektik) representing 12.97% of the issued and outstanding shares of Aton.

About Aton Resources Inc. Aton Resources Inc. (AAN: TSX-V) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”), located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s world-class Sukari gold mine. Aton has identified numerous gold and base metal exploration targets at Abu Marawat, including the Hamama deposit in the west, the Abu Marawat deposit in the northeast, and the advanced Rodruin exploration prospect in the south of the Concession. Two historic British gold mines are also located on the Concession at Sir Bakis and Semna. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of a variety of styles of precious and base metal mineralisation. Abu Marawat is 447.7 km2 in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity, as are the international airports at Hurghada and Luxor.Qualified Person The technical information contained in this News Release was prepared by Javier Orduña BSc (hons), MSc, MCSM, DIC, MAIG, SEG(M), Exploration Manager of Aton Resources Inc. Mr. Orduña is a qualified person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact:TONNO VAHKInterim CEO Tel: +1 604 318 0390 Email: info@atonresources.com
Note Regarding Forward-Looking Statements Some of the statements contained in this release are forward-looking statements. Since forward-looking statements address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. 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 release.

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Source: Aton Resources Inc.


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