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Aton Announces the Inaugural General Assembly of the New Operating JV Company at the Abu Marawat Exploitation Lease

Tuesday, 04 June 2024 06:37 PM

Aton Resources, Inc.

VANCOUVER, BC / ACCESSWIRE / June 4, 2024 / Aton Resources Inc. (TSXV:AAN) ("Aton" or the "Company") is pleased to provide investors with a corporate update on its Abu Marawat Concession ("Abu Marawat" or the "Concession"), in the Eastern Desert of Egypt.

Highlights:

  • The inaugural General Assembly of the Abu Marawat Gold Mines Company was held at the Ministry of Petroleum in New Capital, Cairo on June 3, 2024, chaired by H.E. Eng. Tarek el-Molla, Minister of Petroleum and Mineral Resources;
  • The primary business of the General Assembly was to appoint the directors of Abu Marawat Gold Mines, who were all approved unanimously. Abu Marawat Gold Mines is a joint venture company equally owned by Aton and the Egyptian Mineral Resources Authority ("EMRA"), with 4 directors appointed from each side, and which will act as the operating company for all operations at the Abu Marawat Exploitation Lease ("AMXL");
  • Aton appointees to the Abu Marawat Gold Mines Board of Directors were Cherif Barakat, Robert Parr, Magdy Sayed and Javier Orduña;
  • The appointment of the Abu Marawat Gold Mines Board of Directors will allow the Company to commence operations at the AMXL (see news release dated January 17, 2024).

"I am pleased to announce the inaugural General Assembly of the new JV operating company in Egypt" said Tonno Vahk, CEO. "The JV company was established in law through the issuance of the exploitation lease in January 2024, but effectively now becomes operational with the appointment of its Board of Directors. We look forward to the start of a long and fruitful partnership with EMRA at Abu Marawat, and I would personally like to thank H.E. Eng. el-Molla for his invaluable contribution to us reaching this major milestone. Aton now intends to push rapidly ahead with mine development work at Hamama West."


Figure 1: General Assembly of the Abu Marawat Gold Mines Company, chaired by H.E. Eng. Tarek el-Molla (centre)

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 Rodruin deposit in the south of the Concession. Two historic British gold mines are also located on the Concession at Semna and Sir Bakis. 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. The Abu Marawat exploitation lease is 57.66 km2 in size, covering the Hamama West and Rodruin mineral deposits, and was established In January 2024 and is valid for an initial period of 20 years. The Concession also includes an additional 255.0 km2 of exploration areas at Abu Marawat, retained for a further period of 4 years from January 2024. Abu Marawat 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.

For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact:

TONNO VAHK

Chief Executive Officer
Tel: +1 604 318 0390
Email: [email protected]

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.

Topic:
Company Update
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