Aton makes formal application for an exploitation lease at Hamama
VANCOUVER, British Columbia, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company") is pleased to announce that, in accordance with its Abu Marawat Concession Agreement, between Aton and the Egyptian Government, the Company has submitted its application for an exploitation lease at Hamama and this is being processed by the relevant authorities, including the Egyptian Mineral Resources Authority and The Ministry of Petroleum. This is a formal process mandated by the existing Egyptian legal and regulatory regime as part of maintaining the Company’s rights to explore and develop deposits on the Concession.
“The formal application for an exploitation lease at Hamama is yet another milestone achieved by Aton.” said Mark Campbell, President and CEO. “Over the past seven years, including 3 years of Force Majeure during the turbulent period, we have been working at Hamama and made steady progress in exploring and expanding the Hamama Deposit. This application is the first time we have been able to take the next steps in Egypt, securing our ability to continue our exploration work at our main exploration target at Rodruin and the other 15 targets, including Abu Gaharish, Sir Bakis, Semna and the new Safaga South discovery, and the continued development of the Hamama Deposit. In addition, the Ministry of Petroleum and Mineral Resources and Wood Mackenzie’s work on reforming the mining law to make Egypt one of the most attractive exploration investment destinations, will not only benefit Aton, but Egypt and her people, for generations 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.
Qualified person
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:
MARK CAMPBELL
President and Chief Executive Officer
Tel: +202-27356548
Email: mcampbell@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.
