VANCOUVER, British Columbia, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company”) is pleased to announce that its application for an exploitation license at Hamama and its retained exploration areas at the Company’s Abu Marawat Concession area have been approved.
“As only the second mining license to be issued since Centamin’s, this is historic news for Aton and Egypt,” said Mark Campbell, President and CEO. “We are very excited to announce this news, which has been the culmination of over ten years of work by Aton. This not only grants Aton a license for 20 years with an additional 10-year option period, that allows us to get on with the Hamama Development and as well allows us to continue the exploration at Rodruin and our other exploration targets, within our Abu Marawat Concession. It also underscores Egypt’s new commitment to developing its exploration and mining sector. Egypt is a country that is blessed by having huge untapped mineral potential, not only in gold, but across all precious, base and industrial minerals, along with having world class infrastructure, a great pool of skilled and semi-skilled labor all within a strong and stable country. We believe that the granting of our license will point the way to a bright future for exploration and mining in Egypt. We also look forward to the opportunity to acquire more exploration land within Egypt that these changes now afford us. We eagerly look forward to participating in the upcoming exploration tender and working in Egypt for many years to come.”
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. Three historic British mines are also located on the Concession at Sir Bakis, Semna and Abu Garida. 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 over 596 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.
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:
President and Chief Executive Officer
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.