Aton Resources Inc. Secures Two Year Extensions to the Terms of Its Two Exploration Licenses at Abu Marawat and Fatiri from the Government of Egypt Until July 2018
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 19, 2016) - Aton Resources Inc. (the "Company") (TSX VENTURE:AAN) is extremely pleased to announce the approval by the Egyptian Mineral Resource Authority ("EMRA") to extend the term for the exploration phase on its Fatiri and Abu Marawat concessions by two years until July 2018.
Mark W. Campbell, President and Chief Executive Officer of the Company, said, "We are very pleased with the support given to us by EMRA and the Ministry of Petroleum. The extensions to the exploration terms are an important part in providing the Company due time to advance both the development of our flagship Hamama project at Abu Marawat and the exploration of our exciting Fatiri concession. We believe that this decision demonstrates the Ministry of Petroleum's and EMRA's commitment to the development of Egypt's mineral resource sector. EMRA has been a very helpful and supportive partner and we are very pleased to be working closely with them." Campbell further commented, "The positive drilling results at the Hamama on the Abu Marawat concession and the potential bonanza gold grades at Rouh Al Hadid on the Fatiri concession, confirm the potential for significant deposits within our two concession areas. Further showing the potential that Aton has at two of the most exciting areas anywhere in the world today."
The award of the term extension to the licenses was a result of EMRA and the Ministry of Petroleum's recognition of the challenges the company weathered and the delays associated with the political transition in Egypt, operating environment and global market conditions that impacted the rate at which the Company was able to explore its two concessions.
About Aton Resources Inc. Inc.:
Aton Resources Inc. (TSX VENTURE:AAN) is a focused gold exploration company, working in Egypt exploring for and developing economic gold deposits in the Central Eastern Desert of the Arabian-Nubian Shield (ANS). The Company's 100%- owned concessions, Abu Marawat and the Fatiri, combined cover 2,772 square kilometers of underexplored ground. Evidence of gold on the concessions dates the many surface workings to pre-historic (Copper Age) and Old Kingdom (Pharaonic), through Ptolemaic and Roman and into Early Arab times and the early 20th century European period. Several historic gold mines and numerous gold showings and gossans occur within the two concessions.
The Company's land package is located some 400 km southeast of Cairo and is enhanced by expanding infrastructure, including access to highway and railway right-of-way, a high-capacity electricity grid, and nearby major cities; Qena, on the Nile River, and Port of Safaga, on the Red Sea, only 50 km to the East.
ON BEHALF OF THE BOARD OF ATON RESOURCES INC.
Mark W. Campbell, President & CEO
Cautionary 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.
Contact
Aton Resources Inc.
Mark W. Campbell
President and CEO
+1-936-689-2589
www.atonresources.com