FOR IMMEDIAT E RELEASE Aton Files EMRA Submission Defining Commercial Discoveries at the Hamama West and Rodruin Projects

FOR IMMEDIAT E RELEASE

Aton Files EMRA Submission Defining Commercial Discoveries at the

Hamama West and Rodruin Projects

Vancouver, British Columbia, August 24, 2023: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company")

provides investors with a corporate update on the latest developments at the Company’s 100% owned Abu

Marawat Concession (“Abu Marawat” or the “Concession”), in the Eastern Desert of Egypt.

Aton is pleased to announce that it has today lodged its submission to the Egyptian Mineral Resources

Authority (“EMRA”) detailing and defining “Commercial Discoveries” at its Hamama West and Rodruin projects,

in accordance with the terms and definitions o f the Abu Marawat Concession Agreement (“CAAM”). This

represents the first step in a formal process mandated by the existing Egyptian legal and regulatory regime to

maintain the Company’s rights to explore for and develop deposits, and which is expected to culminate in the

anticipated issuance of an Exploitation Lease at Abu Marawat.

“A lot has changed since April 2020 when we were granted a three year extension to the exploration licence

at Abu Marawat. It has certainly been a long and winding road, bu t today marks a very important step, as it

represents the first stage in the process that we anticipate will lead to the mining licence at Abu Marawat” said

Tonno Vahk , Interim CEO . “We have today lodged our submission to EMRA detailing and confirming the

existence of Commercial Discoveries at both the Hamama West and Rodruin projects, as defined in the CAAM.

Over the coming weeks we look forwards to working closely with EMRA to review and agree upon these

Commercial Discoveries through a process defined by the CAAM, and once this has been done, we will settle

with EMRA the areas to be included in the mining licence. Once agreement has been reached on these areas,

they will be automatically converted into an Exploitation Lease, or L eases, without the issuance of any

additional legal instruments or permission s. Following the success of the recent Egyptian Mining Forum in

Cairo, Aton will continue to work closely with EMRA and the Ministry of Petroleum and Mineral Wealth, under

the leadership of H.E. Eng. Tarek el-Molla, and we thank them for their great support, particularly over the last

three years. Aton has made huge progress in this time, and today represents a very important step forwards

on the road to the development of the next Egypt ian gold mines, at Abu Marawat, as well as being a very

significant day for Aton, for our stakeholders and shareholders, and for the development of a growing mineral

exploration and mining sector in Egypt.”

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 o n 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 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.

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 re lease are forward-looking statements. Since forward -looking statements

address future events and conditions; by their very nature the y 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.