Aton Announces New Drill Results From Rodruin, Including 7.93 g/t Gold and 55.2 g/t Silver Over 19.28m

VANCOUVER, December 20, 2022 - Aton Resources Inc. (TSX-V:AAN) ("Aton" or the "Company") is pleased to update investors on the latest drill results from the now completed Phase 2 diamond drilling programme at its advanced Rodruin gold exploration project, located in the Company's 100% owned Abu Marawat Concession ("Abu Marawat" or the "Concession"), in the Eastern Desert of Egypt.

• Results are now available for a further 7 holes, ROD-111 to ROD-117, drilled at the Aladdin's Hill NE and Central Buttress Zones;
• Drill hole ROD-117 returned grades of 7.93 g/t Au and 55.2 g/t Ag over an interval of 19.28m associated with heavily phyllic altered rocks in the Saddle Fault zone from 245.32m depth, including 198.5 g/t Au and 1,290 g/t Ag over a 0.63m interval;
• ROD-117 also returned a further intersection of 2.52 g/t Au and 30.0 g/t Ag over 21.2m from 157.7m, and a base metal rich intersection grading 6.40% Zn and 0.28% Cu over 18.51m from 216.00m, both in pyritic carbonate host rocks;
• Hole ROD-113 returned a mineralised intersection of 10.52 g/t Au and 13.1 g/t Ag over an interval of 4.90m on a mineralised structure, from 74.65m depth;
• Hole ROD-112 returned a mineralised intersection of 2.05 g/t Au and 20.8 g/t Ag over an interval of 13.80m associated with the Saddle Fault zone from 171.35m depth, as well as a further intersection of 0.85 g/t Au and 10.8 g/t Ag over 58.65m from 107.35m depth, again associated with pyritic carbonate host rocks.

"These latest results continue to demonstrate the undoubted potential at Rodruin, as we continue to intercept high grade sulphide mineralisation at depth, as well as high grade mineralisation in narrow discrete structures, and broader zones of both gold-silver and copper-zinc mineralisation in carbonate host rocks" said Tonno Vahk, Interim CEO. "The distribution of and the controls on the mineralisation at Rodruin are certainly complex, but the drilling continues to indicate broader zones of bulk lower grade mineralisation with more discrete zones of significant high grade, coarse gold bearing mineralisation as our geologists have stated pretty much since we first discovered the deposit in 2017. Now that this phase of drilling has been completed we are pushing ahead with the maiden mineral resource estimate at Rodruin. We expect to have the final assay results in from the programme by February next year, and the bulk composite metallurgical samples have been dispatched for a second round of testwork in the UK. We are also excited to be starting horizontal drilling at Hamama East in the New Year, now that the rig has been moved there, and where we hope be able to rapidly add incremental mineable oxide resources to the Hamama West starter heap leach project. Aton continues to move ahead on multiple fronts as we look forward to 2023, which we expect to be a breakthrough year for the Company, our shareholders and our partners in Egypt. Best wishes for the holidays, and see you again next year!"

The Rodruin prospect was discovered in December 2017 by Aton geologists (see news release dated December 14, 2017), and is located approximately 18km east of the Company's Hamama West mineral deposit (Figure 1). A 50 hole Phase 1 reverse circulation percussion ("RC") drilling programme was undertaken at Rodruin in 2018.

The Phase 2 diamond drilling programme commenced in late November 2021, and was completed on December 10, 2022 (see new release dated December 13, 2022). Significant intersections reported to date include 88.25m grading 1.74 g/t Au and 9.7 g/t Ag, from 25.75m downhole depth in oxides (hole ROD-055 at Aladdin's Hill, see news release dated March 1, 2022), and 88.6m grading 5.76 g/t Au, 42.0 g/t Ag, 0.31% Cu and 2.40% Zn from 117.20m in sulphide mineralisation, associated with the "Saddle Fault zone" at the Aladdin's Hill NE area (hole ROD-071, see news release dated May 10, 2022). The Energold/Global Drilling rig has now been moved from Rodruin to the Hamama project, where horizontal drilling will resume after the Christmas and New Year break, testing previously undrilled mineralisation at Hamama East.

Figure 1: Geology plan of the Abu Marawat Concession showing the location of the Rodruin project

Discussion of results

Results are now available for a further 7 drill holes, ROD-111 to ROD-117. These holes were drilled to test mineralisation and structures at the Aladdin's Hill NE ("AHNE"), and the Central Buttress Zone ("CBZ"). The collar co-ordinates of these holes are provided in Table 1 below, and details of all mineralised intersections are provided in Table 2.

Table 1: Collar details of diamond drill holes ROD-111 to ROD-117

Table 2: Significant mineralised intersections from holes ROD-111 to ROD-117

Aladdin's Hill NE area

5 holes were drilled at the AHNE area, with holes ROD-111, ROD-112 and ROD-117 testing potential deep sulphide mineralisation (Figure 2). Holes ROD-113 and ROD114 were drilled primarily to test for potential oxide zone mineralisation at AHNE. All holes intersected a variety of mineralisation types.

Figure 2: Aladdin's Hill - Central Valley - CBZ area drill hole collar plan, showing holes ROD-111 to ROD-117

Holes ROD-111, ROD-112 and ROD-117 were drilled to follow-up on the high grade phyllic alteration associated Au-Ag-Cu-Zn mineralisation drilled in holes ROD-071 and ROD-075 (see news releases dated May 10, 2022 and June 1, 2022), which is hosted in highly siliceous dark grey quartz-sericite-pyrite rock. This mineralisation is now interpreted as being associated with a north-south striking structure beneath 2 shallow NE-dipping structures - the Upper ("UT") and South Ridge ("SRT") Thrusts (see Figure 3, news release dated June 1, 2022), and possibly where it intersects the interpreted NE-striking Saddle Fault zone at AHNE (Figure 2). The Saddle Fault zone is not a single, discrete structure, but appears to be a "dislocation zone" comprising a series of several linked structures on various orientations, with an overall northeasterly strike. The high grade phyllic hosted surface mineralisation at Aladdin's Hill (12.47 g/t Au over an interval of 36m from hole ROP-003, see news release dated October 1, 2018 and Figure 2 above) is also associated with the Saddle Fault zone.

ROD-112 returned an intersection of 2.05 g/t Au, 20.8 g/t Ag, 0.23% Cu and 2.93% Zn over 13.80m from 171.35m depth associated with this mineralised zone. Hole ROD-117 returned a mineralised intersection of 7.93 g/t Au, 55.2 g/t Ag, 0.21% Cu and 1.34% Zn over an interval of 19.28m associated with this zone from 245.32m depth, including 198.5 g/t Au, 1,290 g/t Ag, 0.92% Cu and 3.42% Zn over a sulphide-rich 0.63m interval from 253.62m (Figure 3). Hole ROD-117 did not intersect this zone, and was apparently still above the SRT at the target depth in the hole.

Figure 3: Cut HQ3 sized drill core from hole ROD-117, showing the very high grade sulphide-rich interval between 253.62m - 254.25m

Hole ROD-111 intersected a narrow zone of shallow mineralisation on the UT structure (2.53 g/t Au and 12.9 g/t Ag over a 7.45m interval, from 46.60m depth), and another zone associated with the possible "Lower Thrust" structure (1.04 g/t Au and 19.5 g/t Ag over a 19.45m interval, from 220.0m depth).

Holes ROD-112 and ROD-117 also intersected significant zones of Au-Ag and base metal mineralisation in a block of strongly pyritic carbonate-silica (±talc) rock to the east of the Saddle Fault phyllic mineralisation, and beneath the SRT. This mineralisation is effectively "blind", occurring beneath the UT and the SRT, and is almost certainly the precursor of the widespread gossanous carbonate mineralisation outcropping at surface at the Aladdin's Hill NE, CBZ, and GF Zone areas. Intersections include 0.85 g/t Au and 10.8 g/t Ag over a 58.65m interval, from 107.35m depth (ROD-112) and 2.52 g/t Au and 30.0 g/t Ag over a 21.20m interval, from 157.70m depth (ROD-117). An additional 19.28m interval in ROD-117 returned grades of 6.40% Zn, 0.28% Cu, and 0.21 g/t Au and 12.2 g/t Ag from 216.00m depth in the same carbonate unit.

Hole ROD-114 also intersected a wide mineralised zone, which returned grades of 0.96 g/t Au and 4.3 g/t Ag over a 40.40m interval from 97.10m depth, associated with a distinctive breccia unit containing large clasts of sheared pyritic carbonate, thought to be associated with the Saddle Fault zone. Hole ROD-113 intersected a narrow high grade oxide zone structure, which assayed 10.52 g/t Au and 13.1 g/t Ag over a 4.90m interval, from 74.65m depth.

The mineralisation in the AHNE area is complex, occurs in several different host rock units, shows clear structural controls on its distribution, and the high grade mineralisation drilled in hole ROD-117 is associated with intense phyllic alteration. The area is structurally complex with at least 2, possibly 3, shallow NE-dipping thrust faults, and a series of N-S and NE striking faults which appear to control the distribution of the higher grade zones at AHNE. The high grade intersection reported herein from hole ROD-117 indicates the continuity of the high grade mineralisation previously intersected in holes ROD-071 and ROD-075 (see news releases dated May 10, 2022 and June 1, 2022), and the depth potential of this zone. The existence of significant thicknesses of "blind" carbonate hosted mineralisation beneath the SRT is very encouraging. The blind mineralisation, along with the intense hydrothermal alteration hosting the high grade "phyllic" style mineralisation at AHNE, as well as throughout the general Rodruin area, can be considered indicative of the potential for significant further undiscovered mineralisation at Rodruin.

2 holes were drilled at the CBZ, ROD-115 and ROD-116, to investigate structure, and to test for potential gossanous carbonate hosted mineralisation (Figure 2). Neither hole intersected significant mineralisation, with only limited widths of carbonate intersected in hole ROD-115, and none in hole ROD-116.

Drill core was logged by Aton geologists, and marked up for cutting and sampling at the Rodruin core farm. Samples were typically selected over nominal 1m intervals, but as determined by the logged lithologies. The core was half-cut by Aton staff at the onsite Rodruin sample preparation facility.

The split half-core samples were collected and bagged up in cloth bags, weighed and crushed to -4mm onsite, and split to a nominal c. 250-500g sample size. The coarse crushed reject samples are retained onsite at the Rodruin sample prep facility.

QAQC samples are inserted at a rate of approximately 1 certified reference material (or "standard" sample) every 30 samples, 1 blank sample every 15 samples, and 1 duplicate split sample every 15 samples.

The c. 250-500g dried, crushed and split samples were shipped to ALS Minerals sample preparation laboratory at Marsa Alam, Egypt where they were pulverised to a size fraction of better than 85% passing 75 microns. From this pulverised material a further sub-sample was split off with a nominal c. 50g size, which was shipped on to ALS Minerals at Rosia Montana, Romania for analysis.

Samples were analysed for gold by fire assay with an atomic absorption spectroscopy ("AAS") finish (analytical code Au-AA23), and for silver, copper, lead and zinc using an aqua regia digest followed by an AAS finish (analytical code AA45). Any high grade gold samples (>10 g/t Au) were re-analysed using analytical code Au-GRA21 (also fire assay, but with a gravimetric finish). Any high grade Ag and base metal samples (Ag >100 g/t, and Cu, Pb and Zn >10,000ppm or >1%) were re-analysed using the ore grade technique AA46 (also an aqua regia digest followed by an AAS finish).

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 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. Two historic British gold mines are also located on the Concession at Sir Bakis and Semna. 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 447.7 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:

TONNO VAHK
Interim CEO
Tel: +1 604 318 0390
Email: info@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.

SOURCE: Aton Resources Inc.