Aton confirms the extension of the Abu Marawat Concession exploration licence until March 2020, including a 20% land relinquishment
Not for distribution to United States newswire services or for dissemination in the United States
FOR IMMEDIATE RELEASE
Aton confirms the extension of the Abu Marawat Concession
exploration licence until March 2020, including a 20% land
relinquishment
Vancouver, April 2, 2019: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company") is pleased to confirm
the extension of its exploration licence at the Company’s 100% owned Abu Marawat Concession (“ Abu
Marawat” or the “Concession”), located in the Eastern Desert of Egypt, until March 2020. The Company also
announces the relinquishment of 20% of the land area of the Concession.
Figure 1: Revised area of the Abu Marawat Concession
We have now agreed a further land relinquishment at Abu Marawat with the Ministry of Petroleum and Mineral
Resources (“MOP”) and the Egyptian Mineral Resources Authority (“EMRA”). At the same time, we have also
been formally granted an extension on the exploration licence until March 2020, further extended from the
previously advised January 2020 date” said Mark Campbell, President and CEO. “This is very positive news
for Aton, as not only were we able to reduce our area by 20% to nearly 600 km2, allowing us to retain all of our
exploration targets as well as other prospective areas within our licenc e, but it also gives us an even longer
extension period for us to continue our work and to await the reforms to Egy ptian exploration and mining that
are coming. This is an important development for Aton.”
Abu Marawat Concession extension and 20% relinquishment
The MoP and EMRA have now confirmed the extension of the Company’s Abu Marawat Concession
exploration licence until March 5, 2020. The Company has also agreed to relinquish 20% of the area of the
Concession, reducing its total area to 596.3 km 2, now consisting of 2 non- contiguous blocks (see Figure 1).
The relinquishment will allow the Company to focus its ongoing regional exploration activities at Abu Marawat
on the main existing prospects and target areas, including new areas of interest identified in the northeastern
area of the Concession, as well as progressing the advanced Rodruin project, which remains the Company’s
top priority.
Extension to Private Placement
The Company also announces, further to its news releases of February 15 and March 1, 2019 , that it intends
to extend its non- brokered private placement financing of up to 100,000,000 units (the “ Units”) at $0.05 per
Unit for total proceeds of up to $5,000,000 (the “Offering”). Each Unit will consist of one common share in the
capital of the Corporation (a “ Common Share”) and one half of one common share purchase warr ant (each
whole warrant a “ Warrant”). Each Warrant will be transferable and will entitle the holder to acquire one
Common Share for three years from the closing date at a price of $0.10. The closing of the Offering is expected
to occur on or about April 15, 2019, and is subject to approval by the TSX Venture Exchange (the “ TSXV”).
The net proceeds from the Offering will be used to fund continued exploration and development activities at
Aton’s Abu Marawat concession, located in Egypt. All currency amounts are in Canadian dollars.
Additional Terms:
All securities issued pursuant to the Offering will be subject to a four -month hold period from the date of
issuance under applicable Canadian securities laws. The Corporation may pay certain finders fees on certain
of the gross proceeds raised from the sales of Shares pursuant to the Offering, yet to be determined and
subject to the approval of the TSXV.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in
the United States. The securities have not been and will not be registered under the United States Securities
Act of 1933, as amended (the “ U.S. Securities Act”) or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.
About Aton Resources Inc.
Aton Resources Inc. (AAN: TSX-V) is focused on its 100%
owned Abu Ma rawat Concession (“Abu Marawat”),
located in Egypt’s Arabian -Nubian Shield, approximately
200km north of Centamin’s Sukari gold mine. Aton has
identified a 40km long gold mineralised trend at Abu
Marawat, anchored by the Hamama deposit in the west
and the Abu Marawat deposit in the east, containing
numerous gold exploration targets, including three historic
British mines. Aton has identified several distinct
geological trends within Abu Marawat, which display
potential for the development of RIRG and orogen ic gold
mineralisation, VMS precious and base metal
mineralisation, and epithermal -IOCG precious and base
metal mineralisation. Abu Marawat is over 596km2 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.
Qualified person
The technical information contained in this News Release
was prepared by Javier Orduña B Sc (hons), MSc, MCSM,
DIC, MAIG, SEG(M), FGS, 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:
MARK CAMPBELL
President and Chief Executive Officer
Tel: +202-27356548
Email: [email protected]
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 uncertai nties. 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.