FOR IMMEDIAT E RELEASE Aton announces corporate and operations update
FOR IMMEDIAT E RELEASE
Aton announces corporate and operations update
VANCOUVER, BRITISH COLUMBIA, November 8, 2024 : Aton Resources Inc. (AAN: TSX -V) (“Aton” or the
“Corporation") provides the following corporate and operations update.
Corporate update
Aton announces that Mr Robert Parr has resigned from his role as Chief Operating Officer at Aton Resources,
for personal reasons. Mr Parr has also resigned from his position on the Board of Directors of Abu Marawat
Gold Mines Ltd (“AMGM”), the 50/50 joint venture company established in Egypt with the Egyptian Mineral
Resources Authority (“EMRA”), which acts as the operator of the Abu Marawat Exploitation Lease.
“I would like to express my thanks to Rob for the work and the efforts that he has put in this year at Aton, and
for setting us on the path to the development of the next gold mine in Egypt at Hamama West ” said Tonno
Vahk, CEO. “We are pleased to announce that Mr Paul Angus, Aton’s Exploration Manager in Egypt, will join
the Board of AMGM, while the search for a suitable replacement for Rob is underway . We continue to move
steadily ahead in Egypt with the appointment of Wardell Armstrong to undertake a PFS on the Hamama West
deposit, and the imminent comme ncement of fieldwork programmes, while we continue to build our working
relationship with our partners at EMRA and the Ministry of Petroleum and Mineral Resources. Mean while the
ongoing diamond drilling programme at Abu Marawat, which has been designed with the objective of upgrading
the resource there to the indicated category , is going well, and we plan to release the next tranche of results
as soon as they be come available. We will also be starting new RC drill programmes within the next month,
as work on both the Abu Marawat exploitation lease and the retained exploration areas c ontinues with the
specific long term objective of developing multiple mines at the Abu Marawat Concession”.
Operations update
• Aton has appointed Wardell Armstrong International Ltd (Cornwall, UK) to undertake a Pre-Feasibility
Study (“PFS”) on the Hamama West deposit. Cube Consulting (Perth, Western Australia) will continue
to take the lead on the estimation of all mineral resources across the entire Abu Marawat Concession,
including at the Hamama area, the Rodruin deposit, and also at the Abu Marawat and Semna deposits.
• The Energold diamond drilling programme at the Abu Marawat deposit is ongoing, with the first results
having now been released (see news release dated November 7, 2024), including near surface high
grade polymetallic intersections of 8.98 g/t Au, 185 g/t Ag, 0.43% Cu and 6.12% Zn over a 3.90m
interval (hole AMD -110) and 9.57 g/t Au, 92.9 g/t Ag, 0. 52% Cu and 0.29% Zn also over a 3.90m
interval (hole AMD-107). This programme has been extended and will now continue into 2025.
• Aton has executed a new driling contract with Capital Drilling Egypt L td (“Capital”) to undertake a
minimum of 5,000m of RC drilling on the retained exploration areas at the Abu Marawat Concession.
Drilling is planned at the Abu Marawat deposit and the Semna gold mine project, as well as other to
date undrilled high priority targets on the Concession, including Sir Bakis and Bohlog.
• Aton, through its 50% owned JV company AMGM, is also in the final stages of negotiating a separate
contract for a programme of groundwater exploration and infrastructure sterilisation RC drilling in the
Hamama area, as part of the planned PFS work. This drilling is planned to start within the next month.
Other geotechnical, metallurgical and resource extension drill programmes are currently being
designed for the Hamama area.
• The various Energold diamond drilling and Capital RC drilling programmes on both the exploitation
lease at Hamama, and on the retained exploration areas of the Abu Marawat Concession will run
concurrently through H1-2025.
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 Rodruin deposit in the south of the Concession. Two historic British
gold mines are also located on the Concession at Se mna and Sir Bakis. 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. The Abu Marawat exploitation lease is 57.66 km2 in size , covering the Hamama West and Rodruin
mineral deposits, and was established In January 2024 and is valid for an initial period of 20 years. The Concession
also includes an additional 255.0 km2 of exploration areas at Abu Marawat, retained for a further period of 4 years from
January 2024. Abu Marawat 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), Chief Geologist 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
Chief Executive Officer
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.