Aton Extends the Gold Mineralized Zone at the Abu Gaharish Prospect, and Announces the Discovery of New Au-W-Cu Mineralization at North Gaharish

VANCOUVER, British Columbia, Dec. 19, 2017 (GLOBE NEWSWIRE) -- Aton Resources Inc. (TSX-V:AAN) (“Aton” or the “Company") is pleased to provide investors with an update on exploration activities at the Abu Gaharish and North Gaharish prospects at the Company’s 100% owned Abu Marawat Concession (“Abu Marawat” or the “Concession”), located in the Eastern Desert of Egypt.

Highlights:

• Follow-up channel profile sampling and individual channel and grab sampling has expanded the mineralized zone at the Abu Gaharish prospect, with gold mineralization now identified over a strike length in excess of 2.4km;
  
• Surface channel sample profiles returned assay intersections of up to 31.2m @ 1.04 g/t Au, and 3.6m @ 11.05 g/t Au at Abu Gaharish. Individual channel samples returned assays of 5.50 g/t Au over a 2m interval, and a grab sample returned an assay of 11.4 g/t Au;
  
• The recently completed GPR survey at Abu Gaharish has indicated the possible presence of mineralized structures to the west of the Main Zone, concealed under wadi sediments;
  
• Surface reconnaissance has identified new zones of Au-W-Bi-Cu mineralization at the North Gaharish area, with visible gold identified from quartz veins, effectively extending the mineralization along the entire eastern contact of the Gaharish granite, over a total strike length in excess of 5km.

“If Rodruin is the new primary exploration target at the Abu Marawat Concession area, then most certainly Abu Gaharish will be a close second,” said Mark Campbell, President and CEO. “The assay results that have come back coupled with its overall size, which appears to continue to increase with the more work we do, potentially make Abu Gaharish a significant large bulk minable gold deposit and a project that we intend to vigorously pursue.”

Abu Gaharish Prospect
Further surface sampling has been completed at the Abu Gaharish prospect (see Figure 1) to follow up on grab and channel samples assaying up to 22.6 g/t Au and 26.6 g/t Au (see news release dated June 7, 2017). 55 profiles (GHC-001 to GHC-055) were channel sampled for a total of 505m, with the channel profiles averaging 9.2m in length. A total of 248 channel samples were collected from surface outcrop over nominal, but not exclusively 2m intervals, and were manually collected using hammer and chisel, under the supervision of senior Aton geologists (see Figure 2 for sample locations at Abu Gaharish). Details of all mineralized intervals intersected in the channel profiles are provided in Appendix A. Furthermore a total of 36 point surface samples were also collected from Abu Gaharish, including 32 individual channel samples taken over an average sample length of 1.5m, and 4 selective grab samples. Details of all individual and grab samples are provided in Appendix A.

Selected mineralized intersections from the surface channel profile sampling are presented in Table 1, and include intervals of 31.2m @ 1.04 g/t Au (GHC-001) and 8.1m @ 1.25 g/t Au (GHC-040) from the Main Zone; 1.7m @ 17.8 g/t Au (GHC-026) from the NE Extension Zone; 3.6m @ 11.05 g/t Au (GHC-007) from the area south of the Main Zone, and 1.10m @ 45.85 g/t Au (GHC-054) from a new high grade mineralized zone identified approximately 1.5km to the north of the Main Zone.

Figure 1: Abu Marawat regional geology, showing the location of the Rodruin and Abu Gaharish prospects
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Table 1: Selected surface channel sampling mineralized intersections from Abu Gaharish

Figure 2: 2017 surface sample and channel profile sampling plan of the Abu Gaharish prospect
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Individual channel samples also returned assays of up to 5.5 g/t Au over a 2m sampling interval (sample 16822) from a zone of narrow sheeted veins within the Gaharish granite, in a separate mineralized zone approximately 600m north to north-west of the Main Zone. A single grab sample (sample 16986) returned an assay of 11.4 g/t Au from a narrow quartz vein approximately 900m to the south of the Main Zone.

This sampling programme has confirmed the results from the previous sampling programme (see news release dated June 7, 2017), and has confirmed the widespread occurrence of gold mineralization at Abu Gaharish, as well as extending it further north of the Main Zone along the contact of the Gaharish granite, with mineralization now having been intersected over a 2.4km strike length. Wide zones of mineralization were intersected at surface in the Main Zone, over the main area of ancient workings. The mineralization at Abu Gaharish is strongly structurally controlled and is located close to the contact of the Gaharish granite with the surrounding country rocks. Mineralization also occurs in the NE Extension Zone in metavolcanics, where it is strongly associated with W, with extensive wolframite and scheelite identified in samples. High grade gold mineralization also occurs to the south of the Main Zone in altered serpentinites, and further to the north and west of the Main Zone within and on the contact of the Gaharish granite. The gold mineralization at Abu Gaharish is associated with accessory W, Pb and Cu minerals, and has broad similarities to the mineralization at Bohlog (see news release dated December 4, 2017), and appears to have reduced intrusion-related (RIRG) affinities.

Abu Gaharish GPR survey
A total of 6 deep penetrating GPR profile lines were completed at the Abu Gaharish prospect by Terravision Exploration (“TRV”) during November 2017, with a combination of 3m and 6m antenna lengths (see Figure 3), using their proprietary GPRplus equipment. 4 long E-W profiles (GH-1 to GH-4) were completed over the Main Zone mineralization, to try and identify the mineralized structures and the granite contact between the Gaharish granite and the country metavolcanic and sedimentary sequence, and also to test for possible repetition of the generally west-dipping mineralized structures under wadi sediment cover to the west of the Main Zone. Additionally 2 shorter, more detailed profiles (GH-5 and GH-6) were run across the Main Zone mineralization using shorter 3m antennae to provide orientation over the mineralized structures and ancient workings seen at surface in the Main Zone. Profile GH-5 was coincident with the eastern end of profile GH-3.

Figure 3: Location of GPR lines (GH-1 to GH-6) at the Abu Gaharish prospect, and locations of new sampling
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A preliminary interpretation report has been received from TRV. Results from the Abu Gaharish prospect were generally encouraging, with significant responses being indicated to the west of the known mineralized structures in the long profiles GH-1, GH-3, and GH-4. The responses from the western ends of these lines were quite “noisy”, and suggest the presence of a series of structures within the granites, causing radar velocity changes at depth (see Figure 4). These velocity changes may be caused by mineralized quartz veins, but may also be a response to faults or dykes. Nonetheless the preliminary interpretation is encouraging, with the GPR profiles suggesting a complex series of structures to the west of the Main Zone, concealed under wadi sediments.

Figure 4: GPR profile GH-1, showing granite-metavolcanics contact, and possible granite-hosted mineralization
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Subsequent field investigation of ‘islands’ of outcropping granite within the wadi sediments has revealed the presence of additional mineralized structures and veins, which have also been sampled (see Figure 3). Assay results of these samples are expected in January 2018.

The current phase of sampling has confirmed Aton’s belief that the mineralized en echelon vein system at the Abu Gaharish Main Zone has potential for reasonable width and possible depth continuity, and that other parallel and “ladder” type structures are likely to exist near and to the west of the Main Zone. Furthermore preliminary results from the deep penetrating GPR survey indicate potential structures concealed under wadi sediments west of the Main Zone, suggesting the potential for the structurally controlled mineralization to extend to the west under cover. Mineralized quartz veins have also been identified in ‘islands’ of granite to the west of the Main Zone, again suggesting the potential for an areally extensive mineralized system. The current sampling and geophysical programmes continue to indicate the potential for the existence of a substantial structurally controlled zone of gold mineralization of RIRG affinity at Abu Gaharish.

North Gaharish Prospect
Recent field investigation of the North Gaharish area (see Figure 5) has indicated the widespread outcrop of auriferous W-Bi-Cu bearing quartz veins in an area of extensively phyllic to argillic altered rocks that appear to comprise a thick pile of felsic volcanics, close to the contact of the Gaharish granite. Large amounts of wolframite were identified in some of the veins. Mineralized veins were also identified within the Gaharish granite itself. In places this granite appears to being shelving to the east with a relatively shallow eastwards dip under the metavolcanic country rocks. There are also ultramafic rocks outcropping in the North Gaharish area. A number of ancient wadi workings were identified in the area, and also some mining on auriferous quartz veins. Visible gold has been identified in several hand specimens. A number of samples have been collected from the North Gaharish area; with assay results expected in late January 2018 (see Figure 5).

The identification of Au-W-Bi-Cu mineralization in the North Gaharish area is significant in that it effectively extends the known mineralization along the entire eastern contact of the Gaharish granite contact over a full strike length in excess of 5km. The possibility that the granite shelves gently under the metavolcanic package may also be significant in that the mineralization is related to the granite contact, and could thus extend further to the east of the mapped contact at surface, as well as into the granite itself. The mineralization has a Au-W-Bi-Cu metal assemblage similar to that identified at Abu Gaharish some 4km to the south, and again suggests possible RIRG affinities. The discovery of gold-tungsten mineralization at North Gaharish is considered very important, and coupled with the extension of the structurally-controlled mineralized system at Abu Gaharish, it indicates the potential development of a large system of RIRG gold mineralization along the entire eastern margin of the Gaharish granite, greater than 5km long in strike length.

Figure 5: North Gaharish sample locations, assays pending (white diamonds)
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All samples reported were analyzed for gold at ALS Minerals at Rosia Montana, Romania by fire assay, using analytical code AA-Au23 (repeated by code AA-Au25 for samples which initially returned gold grades greater than 10 g/t Au). It is noted that individual grab samples are selective, and may not be representative of the true grade of mineralization at the prospects.

Activity update:

• Metallurgical testwork on the four 120kg bulk composite samples of oxide and transitional mineralized material from the Hamama West deposit continues at Wardell Armstrong International’s mineral processing laboratory in the UK. Column leach tests were started on November 27, 2017. Preliminary indications after the first 14 days are that the leach kinetics are very fast, with the preliminary results indicating 70% recovery of Au from both agglomerated and non-agglomerated oxide samples (-12.5mm crush size) and from the -8mm fraction transitional sample, after 14 days of leaching. Note that these are preliminary and indicative results only, and will not be finalised until the completion of the column test.
  
• Cube Consulting have completed the revised block model of the Hamama West deposit, which will be incorporated into the revised mineral resource estimate.
  
• The preliminary report has been received from Terravision Exploration covering the results of the recent deep ground penetrating radar geophysical survey undertaken over the Waayrah, Miranda VMS, Abu Gaharish, Sir Bakis, Semna, Bohlog and East Eradiya prospects. An initial review of this report is being undertaken, and it is now anticipated that the final report will be issued early in 2018.

About Aton Resources Inc.

Aton Resources Inc. (TSX-V: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 mineralized trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east, containing numerous gold exploration targets, including three historic British mines. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of RIRG and orogenic gold mineralization, VMS precious and base metal mineralization, and epithermal-IOCG precious and base metal mineralization. Abu Marawat is over 738km² 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.

Qualified Person

The technical information contained in this News Release was prepared by Roderick Cavaney BSc, MSc (hons), MSc (Mining & Exploration Geology), FAusIMM, 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 or contact:

Mark Campbell
President and Chief Executive Officer
Tel: +1-936-689-2589
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.

Appendix A – Abu Gaharish channel profile intersections

Appendix B – Abu Gaharish grab samples and individual channel samples