AAN.V · 2023-06-26 12:00:00

Aton reports 104.5 g/t gold from surface sampling at the Zeno prospect

Drill Results Exploration Programs Sampling & Geoscience Results

FOR IMMEDIATE RELEASE

Aton reports 104.5 g/t gold from surface sampling

at the Zeno prospect

Vancouver, British Columbia, June 26, 2023: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company") is

pleased to update investors with the latest results from its recent surface sampling programmes at its regional

target areas, undertaken ahead of the ongoing reverse circulation percussion (“RC”) drilling programme at the

Company’s 100% owned Abu Marawat Concession (“Abu Marawat” or the “Concession”) , in the Eastern

Desert of Egypt.

Highlights:

• A total of 60 selective grab samples were collected from the Zeno prospect area;

• Samples returned assays including 104.5 g/t Au, 67.1 g/t Au and 43.0 g/t Au;

• A further 4 samples returned assays greater than 10 g/t Au, and a further 9 samples also returned

assays greater than 5 g/t Au;

• The structural orientations are markedly similar to those observed at the nearby Semna gold mine;

• Samples were taken in previously unsampled areas, which have been heavily exploited by artisanal

miners in recent times. The results of this phase significantly expand the area of mineralised veins and

structures in the Zeno prospect area.

“This is another set of very impressive sampling results from an area that we have done little work in since

identifying its potential significance back in 2018. The entire Semna -Zeno area is certainly shaping up as a

very high priority target, and we are looking forward to getting the RC rig up to Semna in July, and then on to

Zeno to test some of these potentially very high grade structures and veins ” said Tonno Vahk, Interim CEO.

“Meanwhile as the RC drilling is ongoing out in the field, our external consultants Cube and Wardell Armstrong

International are pushing ahead on the final submission to the Egyptian Mineral Resources Authority in support

of our upcoming application for the mining licence at the Abu Marawat Concession, and which we expect to

be finalised within the coming months. This continues to be a very busy period for Aton, as we get closer to

the mining licence application, and these results again show the potential for the long -term development of

multiple gold mines at Abu Marawat.”

Abu Marawat regional sampling programme

The Company has undertaken several surface sampling programmes, as part of its preparation and planning

activities for the regional RC exploration drilling programme started in May 2023 (see news release dated May

19, 2023). As previously reported all the Company’s main exploration targets have recently been worked by

artisanal miners, predominantly since the Company’s suspension of field activities in 2020 as a result of the

covid-19 pandemic, which has provided an opportunity to carry out additional sampling and mapping of the

known structures, as well as previously unidentified mineralised structures that have been exploited by the

artisanal miners. The Company has continued to work in close co -operation with our local Bedouin partners,

and in the past 2 months has managed to successfully remove all the artisanal miners from the primary areas

of interest within the Abu Marawat Concession area. Samples from the first programmes returned assays up

to and including 67.5 g/t Au from Abu Gaharish, 54.9 g/t Au from Bohlog, and 27.6 g/t Au from Semna (see

news release dated May 29, 2023).

Figure 1: Geological map of the Abu Marawat Concession, showing the location of Zeno

Zeno regional sampling programme

Sampling was undertaken at the Zeno prospect area, located approximately 12 km north of its Rodruin mineral

deposit and 4 km west of the old Semna gold mine (Figure 1) . Artisanal miners have been very active in the

general Zeno area in the previous 3 years, and have excavated numerous open pit and underground workings

on what Aton believe to be potentially very high grade gold mineralised veins and structures. Previous surface

sampling by Aton of visible gold and iron oxide bearing quartz veins , prior to the incursion of th e artisanal

miners returned assays including 117.5 g/t Au, 100.5 g/t Au, 72.3 g/t Au, 56.5 g/t Au and 48.3 g/t Au (see news

release dated May 30, 2018).

Aton has recently completed a programme of selective grab sampling at Zeno, in areas to the south and west

of the area sampled in 2018 (see Figure 2). A total of 60 samples were collected, including one field duplicate

sample. In addition 2 QAQC samples, one blank and one duplicate sample, were inserted into the sample run

sent for assaying. Selected results from the sampling programme are shown in Table 1, and full assay results

are presented in Appendix A. Following the completion of this currently reported programme additional

sampling has also been undertaken in the Zeno and S emna areas, and the results of this more recent work

will again be reported once they become available.

Figure 2: Zeno prospect – sample location plan

Sample ID Project E N Sample type Au

(ppm)

AHA-45480 Zeno 552718 2924680 Grab 17.45 0.7 179 11 199

AHA-45484 Zeno 552370 2924854 Grab 43.00 5.7 163 24 470

AHA-45489 Zeno 553951 2924679 Grab 25.50 6.4 37 6 97

AHA-45505 Zeno 553081 2924912 Grab 67.10 4.2 144 24 592

AHA-45507 Zeno 553096 2924909 Grab 13.65 0.9 88 5 654

AHA-45522 Zeno 553186 2924913 Grab 20.20 1.7 206 19 827

AHA-45532 Zeno 553553 2923625 Grab 104.50 11.5 110 22 377

Table 1: Selected surface sampling results

Discussion of results

The mineralisation worked extensively in both ancient and recent times in the Zeno area appears to consist

predominantly of narrow (typically <2m) quartz veins and quartz veined shear zones, typically hosted within

grey to pinkish coarse grained granodiorites. Some of the individual veins and workings can be traced for 300m

or more. Previous sampling has indicated that the mineralisation is hosted within both the quartz veins and

their altered and sheared wall rocks. In places the veins appear to pinch and swell with some of the

underground workings reaching up to 5m width in places (see news release dated May 30, 2018).

Of the 60 samples taken in the current programme 7 (12% of the samples) returned assays greater than 10

g/t Au (see Table 1) , 16 (27%) returned assays greater than 5 g/t Au, and 28 in total (47%) returned assays

greater than 1 g/t Au. Visible gold was identified in several of the samples.

The current sampling programme has confirmed that gold is hosted in quartz veins and the ir surrounding

altered and sheared wa ll rocks in typically narrow zones, that sometimes pinch and swell. In some places

multiple veins were observed to coalesce together and anastomose, and in other areas narrow veinlets within

broader altered and sheared zones returned high grades of gold mineralisation (eg. 13.65 g/t Au from sample

AHA-45507. This structure also returned an assay of 67.10 g/t Au, further along strike). The quartz veins are

frequently vuggy, and contain iron oxides on fracture surfaces and in cavities. The veins appear to carry only

very limited primary sulphide minerals, as indicated by the low base metal levels, although traces of green

copper oxide staining were occasionally observed.

The veins are typically steep, and occur in multiple orientations, however there appears to be a dominant

orientation striking approximately east-southeast to east-northeast throughout the area , with the veins and

shear zones generally dipping between about 60° to sub -vertically to the south. There are also a number of

approximately north to north-northeast striking structures and veins, including one which returned a gold grade

of 104.5 g/t (sample AHA-45532). It is noted that the style and structural setting of the Zeno mineralisation is

very similar to that at the Semna gold mine, approximately 4 km to the east.

The current sampling programme has considerably expanded the mineralised area at the Zeno prospect, and

has confirmed the presence of multiple high grade gold bearing veins and structures, up to several hundreds

of metres long, throughout the general area.

Sample processing and analytical procedures

Samples were collected in the field by Aton’s exploration teams. The selective grab samples were collected

manually, and were mostly, but not entirely, collected in situ, with some samples collected from the artisanal

miners’ residual rock dumps and ore piles, for example.

The samples were weighed and crushed to -4mm onsite at the Rodruin sample prep facility, and split to a

nominal c. 250-500g sample size. The coarse crushed reject samples are retained onsite.

The c. 250-500g dried, crushed and split samples were shipped to ALS Minerals sample preparation laboratory

at Marsa Alam, Egypt where they were pulverised to a size fraction of better than 85% pa ssing 75 microns.

From this pulverised material a further sub-sample was split off with a nominal c. 50g size, which was shipped

on to ALS Minerals at Rosia Montana, Romania for analysis. The reject pulps were returned from ALS, and

are also retained onsite.

Samples were analysed for gold by fire assay with an atomic absorption spectroscopy (“AAS”) finish (analytical

code Au-AA23), and for silver, copper, lead and zinc using an aqua regia digest followed by an AAS finish

(analytical code AA45). Any high grade gold samples (>10 g/t Au) were re-analysed using analytical code Au-

GRA21 (also fire assay, but with a gravimetric finish).

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 with in Abu Marawat, which display

potential for the development of a variety of styles of

precious and base metal mineralisation. Abu Marawat is

447.7 km 2 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), Explorat ion 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 VAHK

Interim CEO

Tel: +1 604 318 0390

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 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.

Appendix A: Zeno surface sampling results

Sample ID Project E N Sample

type

(ppm)

(ppm) Comments 3

AHA-45479 Zeno 552766 2924660 Grab 8.41 0.3 45 15 321 Vq, dipping 52/182 and adjacent wall rock, in open pit

AHA-45480 Zeno 552718 2924680 Grab 17.45 0.7 179 11 199 Vq, dipping 60/196 and adjacent wall rock, in 6m u/g working

AHA-45481 Zeno 552688 2924730 Grab 1.12 <0.2 45 4 23 Vq, dipping 60/208 and adjacent wall rock, in 10m u/g working

AHA-45482 Zeno 552187 2924966 Grab 3.65 0.3 192 4 51 Vq, dipping 86/348 and adjacent wall rock, in 10m u/g working

AHA-45483 Zeno 552142 2924974 Grab 0.04 <0.2 48 2 19 Vq, dipping 77/339 and adjacent wall rock, in 3-5m u/g working

AHA-45484 Zeno 552370 2924854 Grab 43.00 5.7 163 24 470 Vq, dipping 64/354 and adjacent wall rock in 3m u/g working, with strong

gouge zone, probably fault

AHA-45485 Zeno 552402 2924869 Grab 0.24 <0.2 40 4 39 Sheared Vq, dipping 76/312 and adjacent wall rock, in 3m u/g working

AHA-45486 Zeno 552689 2925027 Grab 0.56 0.4 186 12 65 Red haematitic quartz from ore pile

AHA-45487 Zeno 554288 2924494 Grab 7.63 1.2 134 6 279 Vq and adjacent wall rock, in a wider shear zone

AHA-45488 Zeno 553943 2924679 Grab 0.17 <0.2 26 5 34 Vq and adjacent wall rock

AHA-45489 Zeno 553951 2924679 Grab 25.50 6.4 37 6 97 Vq and adjacent wall rock

AHA-45490 Zeno 554043 2924466 Grab 0.15 0.2 10 1 9 Vq and adjacent wall rock

AHA-45491 Zeno 554042 2924467 Grab 0.71 <0.2 9 6 84 Vq and adjacent wall rock

AHA-45492 Zeno 553906 2924252 Grab 0.24 <0.2 24 4 12 Vq and adjacent wall rock

AHA-45493 Zeno 553854 2924256 Grab 0.59 <0.2 66 4 42 Vq and adjacent wall rock

AHA-45494 Zeno Blank <0.005 <0.2 3 13 58

AHA-45495 Zeno 553815 2924260 Grab 4.12 0.6 37 7 38 Vq and adjacent wall rock

AHA-45496 Zeno 553847 2924450 Grab 2.25 0.2 39 5 24 Vq and adjacent wall rock

AHA-45497 Zeno 553830 2924447 Grab 0.28 <0.2 28 4 52 Vq and adjacent wall rock. Different, more shallow dipping vein at the

same location as AHA-45497

AHA-45498 Zeno 553807 2924469 Grab 0.09 <0.2 42 5 15 Vq and adjacent wall rock

AHA-45499 Zeno 553888 2924475 Grab 0.20 <0.2 15 4 18 Vq and adjacent wall rock

AHA-45500 Zeno 553555 2924415 Grab 0.10 <0.2 14 5 35 Vuggy Vq in a narrow shear, in narrow working

AHA-45501 Zeno 553530 2924386 Grab 5.60 0.7 55 8 1630 Red haematitic quartz from ore pile

AHA-45502 Zeno 553597 2924337 Grab 1.05 0.2 204 13 1010 Gossanous and vuggy Vq and adjacent wall rock

AHA-45503 Zeno 553629 2924332 Grab 0.06 <0.2 47 4 65 Dark brown, gossanous Vq and adjacent wall rock

Sample ID Project E N Sample

type

(ppm)

(ppm) Comments 3

AHA-45504 Zeno 553067 2924922 Grab 6.47 3.8 23 7 185 Sheared Vq, dipping 60/129 and sheared wall rock

AHA-45505 Zeno 553081 2924912 Grab 67.10 4.2 144 24 592 Series of narrow anastomosing Vq veinlets in Gd, dipping c. 56/160.

Same open pit as AHA-45504

AHA-45506 Zeno 553099 2924903 Grab 0.20 <0.2 27 6 338 Sheared Vq, dipping 74/190, pinches and swells. N side of large open pit

AHA-45507 Zeno 553096 2924909 Grab 13.65 0.9 88 5 654 A series of 2-3cm anastomosing Vq veinlets in Gd host rock, dipping 59-

71/198-206. Ankerite alteration zone, possible several parallel veins?

AHA-45508 Zeno 553128 2924943 Grab 0.03 <0.2 28 4 18 Small prospecting (?) pit with narrow Vq, dipping 69/224

AHA-45509 Zeno 553090 2924693 Grab 0.20 <0.2 86 5 45 Narrow Vq dipping 60/127 from large u/g workings

AHA-45510 Zeno 553030 2924673 Grab 0.52 <0.2 49 5 238 Whitish greasy Vq, dipping 69/143

AHA-45511 Zeno 553674 2924321 Grab 1.93 0.2 26 7 157 Narrow Vq, dipping 73/004 from u/g drive

AHA-45512 Zeno 553690 2924312 Grab 0.50 <0.2 13 4 80 Shear zone, dipping 80/014, containing loose brown fissile material

AHA-45513 Zeno 553714 2924297 Grab 6.34 <0.2 21 4 38 Vuggy FeOx-stained greasy Vq, dipping 80/355, hosted in Gd

AHA-45514 Zeno 553741 2924293 Grab 0.06 <0.2 10 5 58 Vq, dipping 72/158, hosted in soft, sheared and altered Gd

AHA-45515 Zeno 553841 2924059 Grab 3.32 0.2 80 6 966 Narrow Vq dipping 70/120 in sheared Gd

AHA-45516 Zeno 553770 2924100 Grab 0.04 <0.2 25 4 21 Several anastomosing Vq veinlets, dipping 85/171, with soft fissile,

altered margins. Westernmost of a series of deep u/g shafts

AHA-45517 Zeno 553802 2924094 Grab 0.78 <0.2 29 4 16 Vuggy Vq hosted in sheared Gd, from the southeastern end of u/g pits

AHA-45518 Zeno Duplicate 0.84 0.2 26 3 13 Duplicate of AHA-45517

AHA-45519 Zeno 553842 2923977 Grab 0.13 <0.2 61 4 45 Vq from u/g shaft, dipping 57/147

AHA-45520 Zeno 553851 2923985 Grab 0.19 <0.2 7 2 9 Sampled from ore pile next to several u/g shafts

AHA-45521 Zeno 553873 2924002 Grab 1.53 0.5 112 12 21 Vuggy Vq, associated with sheared Gd

AHA-45522 Zeno 553186 2924913 Grab 20.20 1.7 206 19 827 Very vuggy and oxidised altered brown rock from large open pit with u/g

workings, structure dipping at 60/190

AHA-45523 Zeno 553877 2923775 Grab 2.37 <0.2 19 5 22 Narrow, vuggy Vq, dipping 55/144 in a fissile shear zone in open pit

AHA-45524 Zeno 553939 2923799 Grab 0.22 <0.2 105 5 38 Narrow Vq, dipping 53/174, in prospecting pit, within fissile shear zone

AHA-45525 Zeno 553967 2923812 Grab 4.29 0.6 61 6 68 Narrow converging Vq’s in a shallow u/g pit on same structural trend as

AHA-45524

AHA-45526 Zeno 553864 2923772 Grab 0.58 <0.2 145 6 53 Brown weathered quartz, from ore pile

AHA-45527 Zeno 553864 2923772 Grab 0.35 0.2 140 5 50 Brown weathered quartz, from ore pile (field duplicate)

AHA-45528 Zeno 554026 2923841 Grab 5.50 0.6 188 10 36 Light brown fissile shear zone, dipping 73/201, from large u/g working

AHA-45529 Zeno 554455 2923799 Grab 0.84 0.5 54 3 22 Very vuggy and oxidised Vq, dipping 80/116, from shallow pit

AHA-45530 Zeno 553518 2923578 Grab 6.84 1.0 45 7 179 Narrow, vuggy Vq, dipping 64/136 at surface, from large working

Sample ID Project E N Sample

type

(ppm)

(ppm) Comments 3

AHA-45531 Zeno 553540 2923611 Grab 0.58 <0.2 293 7 813 Loose material around small Vq, from surface open pit working

AHA-45532 Zeno 553553 2923625 Grab 104.50 11.5 110 22 377 Large Vq, dipping at 62/120 pinches and swells, sampled at depth from

>15m u/g working (same working as AHA-45530)

AHA-45533 Zeno 553561 2923632 Grab 5.05 0.7 124 6 585 Haematite-stained Vq, dipping 51/146, also from same deep u/g working

as AHA-45532

AHA-45534 Zeno 553568 2923640 Grab 7.35 0.9 81 8 107 Gossanous brown Vq, dipping 50/113, sampled from northern extent of

the same large working as samples AHA-45530 to AHA-45533

AHA-45535 Zeno 553574 2923668 Grab 0.99 <0.2 140 5 149 Vq dipping 65/113, from shallow open pit along strike from deep u/g

working sampled by AHA-45530 to AHA-45534

AHA-45536 Zeno 554451 2923780 Grab 3.61 0.6 179 8 78 Orange-stained and oxidised Vq, exposed at surface, dipping 87/293

AHA-45537 Zeno 554458 2923790 Grab 0.07 <0.2 17 5 82 Narrow Vq, dipping 79/101, exposed at surface

AHA-45538 Zeno 554549 2923359 Grab 2.42 0.2 11 3 15 Orange haematite-stained Vq, dipping 87/140, weakly sheared

AHA-45539 Zeno 554558 2923321 Grab 0.09 <0.2 49 4 20 Taken from rock dump - not in situ

AHA-45540 Zeno 554546 2923360 Grab 0.07 <0.2 10 4 12 White greasy quartz with brown oxidised vugs from rock dump – not in

situ

Notes:

1) All coordinates are UTM (WGS84) Zone 36R

2) Au analysed using Au-AA23 analytical code, overlimit assays >10 ppm re-analysed using Au-GRA21 analytical code

3) Vq: quartz vein; Gd: granodiorite; u/g: underground

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