Bay Street News

Aton Provides Regional Target Identification Program Update; Up to 26.6 g/t Gold and 21.1 g/t Gold Returned From Abu Gaharish and Bohlog Respectively

Bay Street

VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 7, 2017) – Aton Resources Inc. (TSX VENTURE:AAN) (“Aton” or the “Company”) is pleased to provide investors with the results from the first phase of the regional target identification program at the Company’s 100% owned Abu Marawat concession (“Abu Marawat” or the “Concession”), located in the Eastern Desert of Egypt.

Highlights:

  • Aton’s field crews have sampled the Abu Gaharish, Bohlog, Waayrah, West Garida and Sir Bakis prospects;
  • Field inspection and sampling of the Abu Gaharish prospect has defined the presence of high grade structurally controlled gold mineralization over a strike length of almost 2km, coincident with a spectral anomaly;
  • Two-thirds of samples from Abu Gaharish returned assays greater than 1 g/t Au (see Appendix A), with channel and grab samples returning assays up to 22.6 g/t Au and 26.6 g/t Au respectively;
  • Field inspection and sampling of the Bohlog prospect area has indicated the potential for intrusion related gold mineralization in altered granodiorite host rocks. Channel and grab samples have returned assays up to 15.4 g/t Au and 21.1 g/t Au respectively (see Appendix B);
  • Dr Michael Brown (Mappa Mundi Surveys) has completed his review of the WorldView-3 high resolution multispectral data over the Hamama and Abu Marawat-Miranda-Semna survey areas (see news release dated April 4, 2017) and has identified 92 and 155 spectral targets from the 2 areas respectively.

Aton’s geologists have visited and carried out preliminary field inspections and sampling at Abu Gaharish, Bohlog, Waayrah, Black Gaharish, Semna East, Sir Bakis, and West Garida prospects (see Figure 1). Waayrah, Black Gaharish, and Semna East represent new areas of interest within the Abu Marawat Concession. Results have been received for the Abu Gaharish and Bohlog prospects, and results from the other areas sampled are expected in June. Potential for the development of intrusion related and structurally controlled orogenic gold mineralization has been identified at Bohlog and Abu Gaharish, respectively, with visible gold identified in samples from both locations.

“Early results from the regional target identification program demonstrate the district scale potential of Abu Marawat,” said Mark Campbell, President and CEO of Aton. “Historically, very little regional exploration work has been conducted on the Concession, with the focus of the Company being the Hamama and Abu Marawat deposits. However, we believe that the remote sensing and spectral data will help us to identify and zero in on high priority exploration targets, like Abu Gaharish and Bohlog, that could result in a new, significant discovery at Abu Marawat.”

To view Figure 1: Abu Marawat regional geology, showing the locations of Abu Gaharish and Bohlog please visit the following link: http://media3.marketwire.com/docs/1096710_Fig1.pdf

Abu Gaharish Prospect

The Abu Gaharish prospect is located approximately 30km east of Hamama (see Figure 1). There are a number of ancient houses, pits, trenches, and underground workings in the area, with archaeological evidence of ancient mining dating back over 3000 years to the New Kingdom period. The area has also been inspected for the potential of tungsten mineralization in the modern era (Klemm and Klemm, 2013).

As part of the Company’s regional target identification program, the Abu Gaharish area was identified as having potential for structurally controlled or orogenic gold mineralisation. In addition, the Abu Gaharish area was identified as having a coincident phyllic spectral anomaly from the recently completed Landsat-ASTER remote sensing study of Abu Marawat. Furthermore, several sigmoidal en echelon ancient workings were identified from satellite imagery on the margin of the Abu Gaharish granite and the surrounding meta-volcanic sequence, representing a potentially favourable site for the development of structurally controlled shear zone hosted gold mineralisation.

A preliminary field inspection indicated that the main ancient workings are associated with at least three mineralized quartz veins associated with highly sheared and altered granitic rocks, over a strike length of some 600m. The host granite is highly altered to sericite, chlorite, and kaolinite, and is sheared close to the veins. Fresh sulphides, including chalcopyrite and galena were identified within the quartz veins, as well as copper and lead supergene species, including chrysocolla and malachite, which are the most common accessory ore minerals seen. The quartz veins are seen to pinch and swell and have variable dips and strikes. The veins trend in a generally northerly direction, however, within the en echelon structure, the veins are sometimes seen to strike SE-NW. Parallel veinlets and stringers form surrounding zones of considerable thickness, and always accompany the main veins. In places the quartz veins and associated sheared host rock have been mined down to 10m and possibly deeper, as most of the ancient workings show signs of collapse. A number of other mineralized zones were identified to the north-east in meta-volcanics, to the south in altered serpentinites, and to the north and west of the main zone of historical workings, within the Abu Gaharish granite.

To view Figure 2: Sample locations and grades from the Abu Gaharish prospect please visit the following link: http://media3.marketwire.com/docs/1096710_Fig2.pdf

Aton’s field crews collected a total of 44 samples from the Abu Gaharish area (Figure 2), with the majority being rock chip channel samples taken across and perpendicular to the identified mineralized quartz vein structures. Other samples include chip composite samples and grab samples. Over 66 percent (29) of the samples returned grades over 1 g/t Au, including 14 percent (6) over 10 g/t Au, with grades including 26.6 g/t Au, 22.6 g/t Au, 19.9 g/t Au, and 18.5 g/t Au (see Appendix A). Visible gold was also identified in several of the samples. The sampling has confirmed the presence of high grade gold mineralization over a strike length of almost 2km in the Abu Gaharish area (Figure 2). The highest-grade mineralization appears to occur on the vein margins which carry lenses of iron oxide and chrysocolla, replacing sulphides, with tiny flakes of visible gold.

Aton believes that the Abu Gaharish en echelon vein system has potential for reasonable depth continuity and that other parallel and “ladder” type structures are likely to exist near the main zone of workings. The presence of old workings and high-grade assay results from several samples in a zone approximately 250-300m west of the main mineralized zone (see Figure 2), as well as the widespread presence of wadi sediment cover very close to the exposed workings, also indicates the possible existence of parallel structures that are not exposed.

The initial field inspection and sampling indicates the potential for a high grade structurally controlled zone of gold deposition at Abu Gaharish centred on the ancient workings over a 500-600m strike length. Furthermore, sampling along both the southern and northern strike extensions of the ancient workings has confirmed the presence of high grade gold mineralization over almost 2km. Further follow-up sampling and geological mapping is planned at Abu Gaharish.

Bohlog Prospect

Bohlog is located approximately 18km east-north-east of Hamama (see Figure 1) and is centred around a large ancient settlement, with archaeological evidence of ancient mining dating from the New Kingdom through to the Early Arab periods, dating back over 3000 years (Klemm and Klemm, 2013). In 2012 the Company carried out limited sampling in the Bohlog area (see news release dated August 15, 2012), returning gold grades of up to 18.65g/t Au from samples of mineralized quartz veins. However, no follow up work was carried out until earlier this year as part of the Aton’s regional target identification program.

The Company’s field crews have identified several structures, including four separate mineralized zones, within strongly altered intermediate to felsic intrusive host rocks. The 2 main mineralized structures, Zone 1 and Zone 2, parallel each other and trend in a north-easterly direction (see Figure 3). Zone 1, the northern structure, can be traced through old workings and outcrops for approximately 1.5km while Zone 2, the southern structure, can be traced for approximately 1.2km. The main structures appear to be shallow dipping, 20-60 degrees to the south-east, and the quartz veins are hosted in zones of intense quartz-sericite-pyrite alteration. These broader alteration zones contain associated stringer and stockwork style mineralisation. The iron-stained quartz veins have patches of iron-oxide boxwork that contain visible gold, minor supergene lead minerals, and occasional copper staining. The host rocks at Zone 1 and the south west end of Zone 2 are phyllic altered quartz diorite or granodiorite. Kaolinite-argillic alteration is also widespread, particularly around Zone 2. Further, while strong local structural controls exist, the nature and the composition of the alteration suggests an intrusion driven hydrothermal system. Aton believes that the Bohlog area has good potential for the development of intrusion related gold mineralization.

A total of 93 samples were taken from the Bohlog area, primarily from Zones 1 and 2. Most of the samples were channel samples, taken across and perpendicular to the identified mineralised quartz vein structures (Figure 3). Other samples included chip composite samples and grab samples. The results of this program confirmed the 2012 results, with 35 of the samples returning grades over 1 g/t Au, and 4 returning grades over 10 g/t Au, up to a maximum of 21.1 g/t Au. One continuous channel sample profile over Zone 1 returned a combined intersection of 16.7 m @ 3.03 g/t Au (sample numbers 14018-14027 – see Appendix B).

Sampling has delineated mineralization over an area of at least 800 x 600m, with good potential for this area to further expand in size. Other localities have been identified from satellite imagery in the general Bohlog area that require field follow up. Additional sampling, geological mapping, and trenching are planned on Zones 1 and 2 at Bohlog, as well as ongoing regional evaluation of the Bohlog-Massaghat area for the potential development of intrusion related gold mineralization.

To view Figure 3: Sample locations and grades from the Bohlog prospect please visit the following link: http://media3.marketwire.com/docs/1096710_Fig3.pdf

Activity update:

  • Additional results from the preliminary field inspections and sampling conducted at Waayrah, Sir Bakis and West Garida prospects;
  • Crone Geophysics have completed a ground and downhole electromagnetic survey of the 6-km long prospective horizon (or the hanging wall contact) at Hamama. Interpretation of the survey data has commenced;
  • Metallurgical test work in preparation of a Preliminary Economic Assessment for Hamama West.

About Aton Resources Inc.

Aton Resources Inc. (TSX VENTURE:AAN) 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 Sukari gold mine. Aton has identified a 40-km long gold trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east. In addition to the Hamama and Abu Marawat deposits, the trend contains numerous gold exploration targets, including three historic British mines. Abu Marawat is over 738km2 in size and is 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 Roderick Cavaney BSc, MSc (hons), MSc (Mining & Exploration Geology), FAusIMM, SEG, GSA, SME, Vice President, Exploration, of Aton Resources Inc. Mr. Cavaney 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.

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 – 2017 Abu Gaharish samples, assay data

Sample ID Sample Type Length X Y Z Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
AHA14010 Chip composite 564568 2917249 478 13.25 71.5 8690 27300 1170
AHA14011 Grab 564500 2917809 467 26.60 37.3 36 3060 192
AHA14127 Chip channel 2 564570 2917245 466 2.89 3.2 56 493 195
AHA14128 Chip channel 1.5 564566 2917242 468 1.45 4.9 87 444 953
AHA14129 Chip channel 2 564565 2917243 469 0.12 0.5 8 16 35
AHA14130 Chip channel 2.5 564566 2917239 472 0.70 0.7 19 23 53
AHA14131 Chip channel 2 564582 2917137 478 1.55 1.5 61 436 1090
AHA14132 Chip channel 2 564577 2917137 477 0.35 2.8 12 211 106
AHA14133 Chip channel 3 564577 2917139 480 2.07 2.9 46 1040 269
AHA14134 Grab 564555 2917276 467 11.45 7.9 640 4 22
AHA14135 Grab 564564 2917281 468 19.90 50.9 2160 23800 519
AHA14136 Chip channel 1 564577 2917352 481 22.60 52.8 44 1040 33
AHA14137 Chip channel 2 564578 2917361 481 1.60 1.1 30 119 126
AHA14138 Chip channel 0.5 564583 2917366 480 3.85 5.8 21 151 59
AHA14139 Chip channel 1.5 564588 2917420 478 2.28 3.2 28 322 81
AHA14140 Chip channel 1 564588 2917436 478 3.03 4.1 8 624 194
AHA14141 Chip Sample 564589 2917436 478 0.15 <0.5 7 57 146
AHA14142 Chip channel 1 564607 2917447 476 0.19 <0.5 3 12 17
AHA14143 Chip channel 2 564625 2917515 487 0.74 1.8 36 295 189
AHA14144 Chip channel 0.5 564627 2917515 486 2.59 8.1 29 668 30
AHA14145 Chip channel 1 564628 2917515 486 0.88 1.7 21 172 150
AHA14146 Chip Sample 564601 2917520 482 2.00 0.8 11 221 334
AHA14147 Chip channel 1.5 564597 2917521 482 6.06 6.9 2 299 34
AHA14148 Chip channel 1.5 564596 2917522 482 1.05 1.7 25 105 178
AHA14149 Chip channel 2 564669 2917593 492 0.88 0.7 83 57 83
AHA14150 Chip channel 1.5 564667 2917594 491 0.18 0.6 12 27 64
AHA14151 Chip channel 1 564666 2917595 493 0.12 1.2 8 22 37
AHA14152 Chip Sample 564686 2917626 496 0.14 0.8 38 32 55
AHA14153 Chip Sample 564707 2917671 489 0.64 2.8 54 84 128
AHA14154 Chip Sample 564754 2917736 480 2.63 6.9 37 644 136
AHA14155 Chip channel 1 565149 2918256 508 7.29 354 2820 11600 106
AHA14156 Grab composite 565133 2918254 509 9.60 8.2 115 260 76
AHA14157 Grab composite 564643 2918013 460 4.86 17 32 298 46
AHA14158 Chip channel 2 564520 2916900 480 18.45 23.9 21 916 486
AHA14159 Chip channel 1 564520 2916898 480 6.76 6.3 67 1860 510
AHA14160 Chip channel 1 564518 2916898 480 1.18 4 5 44 14
AHA14161 Chip channel 2 564517 2916898 480 0.08 <0.5 4 23 62
AHA14162 Chip channel 2 564482 2916800 489 0.40 4.3 49 86 37
AHA14163 Chip channel 2.5 564487 2916780 491 5.48 6.9 92 509 143
AHA14164 Grab 564229 2916843 487 4.03 6.5 21 132 33
AHA14165 Grab 564731 2916524 518 6.44 2.8 75 7 11
AHA14166 Grab 564924 2916533 503 0.01 <0.5 587 <2 94
AHA14167 Chip composite 2 564765 2916852 513 3.46 3.4 97 95 70
AHA14168 Chip composite 1.5 564665 2916626 523 7.73 9.7 265 76 48

Appendix B – 2017 Bohlog samples, assay data

Sample ID Sample Type Length X Y Z Au ppm Ag ppm Cu ppm Pb ppm Zn ppm
AHA14018 Chip Channel 2 550250 2920434 670 0.47 <0.5 3 5 48
AHA14019 Chip Channel 2 550248 2920434 671 2.44 0.5 4 20 129
AHA14020 Chip Composite 0.4 550250 2920439 669 5.72 3.6 28 94 1170
AHA14021 Chip Channel 2 550247 2920437 669 4.69 2.5 56 382 1525
AHA14022 Chip Channel 2 550246 2920440 671 7.84 4.8 72 456 2310
AHA14023 Chip Channel 2 550244 2920440 672 2.80 2.9 27 466 209
AHA14024 Chip Channel 2 550242 2920441 672 4.05 1.2 13 69 947
AHA14025 Chip Composite 0.3 550241 2920444 671 3.69 2.3 12 77 261
AHA14026 Chip Channel 2 550240 2920445 672 1.22 1.7 6 34 113
AHA14027 Chip Channel 2 550240 2920447 672 0.07 <0.5 2 7 35
AHA14028 Chip Channel 2 550160 2920365 680 0.36 <0.5 2 3 40
AHA14029 Chip Channel 2 550161 2920366 680 3.27 0.5 5 7 243
AHA14030 Chip Channel 1.2 550164 2920367 680 3.78 1.3 2 31 23
AHA14031 Chip Channel 2 550166 2920365 677 0.37 <0.5 3 19 77
AHA14032 Chip Channel 2 550169 2920371 679 15.40 3.5 8 87 235
AHA14033 Chip Channel 0.2 550169 2920369 679 0.23 0.5 8 15 157
AHA14034 Chip Channel 0.3 550171 2920368 677 1.42 0.7 8 29 399
AHA14035 Chip Channel 2 550177 2920368 675 7.24 2.9 27 46 1125
AHA14036 Chip Channel 2 550177 2920366 675 0.37 1.1 26 4 1745
AHA14037 Chip Channel 2 550177 2920365 675 1.50 1.3 13 77 242
AHA14038 Chip Channel 2 550134 2920327 677 0.03 <0.5 2 5 29
AHA14039 Chip Channel 2 550132 2920328 677 0.10 <0.5 2 6 32
AHA14040 Chip Channel 2 550131 2920330 676 0.13 <0.5 5 5 46
AHA14041 Chip Channel 2 550130 2920331 678 1.94 1.4 3 32 61
AHA14042 Chip Channel 2 550122 2920331 680 0.18 <0.5 4 9 27
AHA14043 Chip Channel 2 550151 2920341 677 0.34 <0.5 4 41 115
AHA14044 Chip Channel 0.4 550150 2920343 677 2.18 0.8 2 29 30
AHA14045 Chip Channel 2 550149 2920345 678 0.16 0.5 4 13 98
AHA14046 Chip Channel 2 550149 2920347 678 0.24 <0.5 2 12 30
AHA14047 Chip Channel 2 550079 2920302 694 0.05 <0.5 6 8 53
AHA14048 Chip Channel 0.3 550078 2920302 703 0.72 0.8 4 56 147
AHA14049 Chip Channel 2 550077 2920303 702 0.18 <0.5 6 7 54
AHA14050 Chip Channel 2 550077 2920305 702 0.30 0.5 12 9 34
AHA14051 Chip Channel 2 550078 2920310 699 0.25 0.6 3 11 35
AHA14052 Chip Channel 2 550078 2920311 699 0.26 0.5 6 21 39
AHA14053 Chip Channel 1 550227 2920424 677 0.92 1.4 23 90 457
AHA14054 Chip Channel 2 550226 2920426 676 2.96 0.7 10 11 1140
AHA14055 Chip Channel 2 550226 2920428 677 0.46 <0.5 3 13 73
AHA14056 Chip Channel 2 550201 2920034 683 0.15 <0.5 3 22 13
AHA14057 Chip Channel 2 550200 2920032 682 0.16 0.6 10 104 96
AHA14058 Chip Channel 1 550199 2920031 683 0.61 3.0 24 416 43
AHA14059 Chip Channel 2 550198 2920030 681 2.76 6.9 49 1005 240
AHA14060 Chip Channel 2 550196 2920029 681 0.91 2.6 39 722 252
AHA14061 Grab 550200 2920029 677 2.19 7.3 49 2430 292
AHA14062 Grab 550191 2920015 675 20.40 34.6 54 15450 201
AHA14063 Grab 550210 2920019 674 9.97 3.2 60 1380 857
AHA14064 Chip Channel 2 550202 2920002 674 4.22 1.4 22 855 316
AHA14065 Chip Channel 2 550204 2920004 673 4.30 3.1 58 1885 540
AHA14066 Chip Channel 2 550255 2920057 675 0.03 0.5 4 21 240
AHA14067 Chip Channel 2 550254 2920059 676 0.03 <0.5 2 10 48
AHA14068 Chip Channel 2 550254 2920062 677 0.08 <0.5 3 25 50
AHA14069 Chip Channel 2 550252 2920065 678 0.05 <0.5 4 34 76
AHA14070 Chip Channel 2 550245 2920070 679 0.02 <0.5 3 15 25
AHA14071 Chip Channel 2 550246 2920072 679 0.04 <0.5 2 11 15
AHA14072 Chip Channel 2 550247 2920074 680 0.02 <0.5 1 4 12
AHA14073 Chip Channel 2 550248 2920076 678 0.02 <0.5 1 3 25
AHA14074 Chip Channel 1 550239 2920078 680 0.01 <0.5 5 8 25
AHA14075 Chip Channel 2 550240 2920079 683 0.01 <0.5 3 6 31
AHA14076 Chip Channel 2 550241 2920081 681 0.01 <0.5 1 10 20
AHA14077 Chip Channel 2 550243 2920083 682 0.01 <0.5 2 6 21
AHA14078 Chip Channel 2 550245 2920083 682 0.01 <0.5 1 9 14
AHA14079 Grab 550591 2920846 676 0.45 0.5 4 1 55
AHA14080 Grab 550592 2920851 679 0.01 <0.5 15 6 106
AHA14081 Chip Channel 2 550676 2920911 676 0.01 <0.5 5 4 36
AHA14082 Chip Channel 2 550676 2920909 677 <0.005 <0.5 2 1 10
AHA14083 Chip Channel 2 550679 2920909 676 <0.005 <0.5 8 9 44
AHA14084 Chip Channel 4 551058 2921404 673 0.01 <0.5 2 1 19
AHA14085 Chip Channel 2 550450 2919712 658 1.31 0.5 32 237 332
AHA14086 Chip Channel 1 550452 2919712 658 1.73 1.0 12 513 120
AHA14087 Chip Channel 1 550453 2919712 659 0.79 1.1 19 524 306
AHA14088 Chip Channel 2 550606 2920236 654 0.21 <0.5 4 5 79
AHA14089 Chip Channel 1 550607 2920237 656 4.07 13.2 18 294 157
AHA14090 Chip Channel 2 550607 2920239 656 0.62 1.0 17 246 331
AHA14091 Chip Channel 0.4 550671 2920242 663 0.66 1.1 26 25 20
AHA14092 Chip Channel 2 550671 2920243 663 3.35 0.7 4 334 307
AHA14093 Chip Channel 2 550896 2920368 663 0.17 <0.5 5 40 35
AHA14094 Chip Channel 1 550849 2920340 663 0.03 0.5 3 15 63
AHA14095 Chip Channel 5 549954 2921176 682 0.01 <0.5 4 3 23
AHA14096 Chip Channel 5 549960 2921230 692 <0.005 <0.5 9 1 16
AHA14097 Chip Channel 6 549963 2921223 690 <0.005 <0.5 3 1 13
AHA14098 Chip Channel 6 549969 2921218 689 <0.005 <0.5 7 5 35
AHA14099 Chip Channel 6 549973 2921213 688 <0.005 <0.5 8 3 30
AHA14100 Chip Channel 7 549976 2921207 687 <0.005 <0.5 3 2 15
AHA14101 Grab 551491 2921872 679 3.74 28.4 31 4 631
AHA14106 Grab 550253 2920026 674 1.55 3.4 11 378 179
AHA14736 Grab 550203 2920399 670 21.10 5.2 288 3740 399
AHA14737 Chip Channel 0.8 550060 2920259 683 6.29 1.7 8 49 40
AHA14738 Chip Channel 0.5 550059 2920254 685 1.07 0.4 9 16 70
AHA14739 Chip Channel 1 550056 2920249 684 0.23 0.2 51 33 225
AHA14740 Chip Channel 1 550057 2920249 685 0.06 0.1 11 5 88
AHA14741 Chip Channel 0.5 550214 2920004 663 7.87 7.6 20 1945 115
AHA14742 Chip Channel 1 550216 2920003 670 5.24 3.3 35 1815 1085
AHA14743 Chip Channel 1 550216 2920003 669 0.68 0.4 48 297 7900
AHA14746 Grab 550216 2920003 670 13.15 7.2 69 4790 139
Aton Resources Inc.
Mark Campbell
President and Chief Executive Officer
+1-936-689-2589
mcampbell@atonresources.com

Aton Resources Inc.
Blaine Monaghan
Vice President, Investor Relations
+1 (604) 331-5092
ir@atonresources.com