AAN Aton Resources Inc

Operations Update

Aton signed a drilling contract with Energold Drilling Ltd. in June to complete a minimum of 4,250 metres of diamond drilling at the Corporation’s Abu Marawat Concession (see news release dated June 14, 2021). At the time of signing the contract it was expected that drilling would commence in September 2021. Due to export clearance and shipping delays caused by the COVID-19 pandemic, the scheduled delivery date of the drill rig to the port in Egypt is now October 9, 2021. As a result, Aton expects to commence drilling during the month of November 2021. A summary of the drill program is provided below.

The program will commence at Rodruin with 3,350 metres of drilling, with the objective of following up on the successful 2018 reverse circulation percussion drill program, as well as testing for the first time the high-grade veins sampled at surface on the North Ridge, which returned assays of up to 321 g/t Au (see news release dated February 6, 2018). Drilling will also further test and delineate the distribution of the near-surface oxide mineralisation identified on the South Ridge, which returned intercepts including 36m @ 12.47 g/t Au (see news release, dated October 1, 2018) and 20m @ 5.36 g/t Au (see news release, dated December 10, 2018). The program will also follow up on the deeper sulphide mineralisation which returned wide intersections including 61m @ 1.55 g/t Au, 8.9 g/t Ag and 0.86% Zn (see news release dated January 29, 2019).

The drilling program at Hamama will consist of 900 metres of drilling with the objective of delineating additional oxide and transitional resources at the Hamama East and Central areas, which have not been effectively drill tested to date. Channel sampling of surface trenches has indicated the potential for relatively high grade oxide mineralisation, and has returned intercepts including 84m @ 1.13 g/t Au, 49.7 g/t Ag and 7.29% Zn and 42.8m @ 1.28 g/t Au, 55.5 g/t Ag and 10.37% Zn (see news release dated May 3, 2018).

During the last six months the Corporation has completed all the necessary work required to commence the above noted drill program, including the acquisition of capital items, construction of a new camp at the Rodruin project, road construction and drill pad preparation.

Aton’s exploration team has also resumed field activities, continuing with the surface channel sampling program at Rodruin, and have also undertaken further sampling, mapping and ionic leach sampling at the Abu Gaharish prospect. Samples have been dispatched to the ALS Minerals for analysis, and results will be released when they become available.

Corporate Update

Due to other professional commitments, Mr. Bill Koutsouras has resigned from his position as Director and Interim CEO of the Corporation, effective immediately. Mr. Koutsouras will continue to be available to provide ongoing support to the Corporation in the future as an advisor.

Mr. Tonno Vahk will assume the role of Interim CEO, effective immediately and until such time as a permanent CEO is recruited by the Board of Directors. Mr. Vahk has been a director of Aton since 2017 and is a significant shareholder of the Corporation with his current shareholding (held indirectly in OU Hektik) representing 12.97% of the issued and outstanding shares of Aton.

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