Aton Announces the Approval of a Mining License at Its Abu Marawat Concession Area
February 12 2020 - 4:30PM
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.
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.
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