Final Results From Resource Infill RC Drilling Program At Hamama West

VANCOUVER - Aton Resources Inc. reported on the RC drilling program at its Hamama West gold-silver project, located in the Abu Marawat Concession, in the Eastern Desert of Egypt. Assay results have now been received for the final 42 RC drill holes, HAP-163 to HAP-204. Significant intersections include: 1.43 g/t Au, 89.86 g/t Ag and 2.48 g/t AuEq over a 20m interval, from surface (drill hole HAP-163); 0.82 g/t Au, 18.80 g/t Ag and 1.04 AuEq over an 80m interval, from surface (hole HAP-167); 1.57 g/t Au, 29.99 g/t Ag and 1.92 AuEq over a 47m interval, from 26m depth (hole HAP-192); and 0.54 g/t Au, 55.12 g/t Ag and 1.19 g/t AuEq over a 49m interval, from 76m depth (hole HAP-195).

"We are surely pleased to be able to report the final results from the successful infill RC drilling program at Hamama" said Tonno Vahk, Interim CEO. "Not only have we confirmed high grade quartz veins in new drilling at West Garida, but the Hamama West results have been good, and we certainly believe that the drilling has achieved its objective in terms of allowing us to upgrade the confidence of the inferred resource at Hamama. The ongoing diamond drilling program at Rodruin is nearly complete, and as soon as it is finished the rig will then relocate to the Hamama area, where it will start testing currently undrilled oxide mineralization at Hamama East. Now that we have the final assay results in, we will soon be able to start on updating the Hamama West mineral resource estimate, before we get on to the maiden Rodruin MRE. We continue to work closely with our partners, the Egyptian Mineral Resources Authority, as we follow the plan agreed with them, and move steadily forward, and towards our common goal of establishing new gold mines at Hamama and Rodruin."

The Hamama West project has an indicated resource of 137,000 ounces of gold equivalent ("AuEq", gold and silver combined), and an inferred resource of 341,000 ounces AuEq. The uppermost oxide and transitional component of the Hamama West deposit (the "oxide gold cap") comprises an inferred resource of 106,000 ounces AuEq. Metallurgical testwork has indicated average gold recoveries of 75.6% and 72.7% from oxide and transitional mineralization types respectively, using standard heap leach processing technology. Aton plans to initially mine the outcropping oxide gold cap of the deposit, which is mineralized directly from surface, as a low capex/opex starter open pit mining operation, with a heap leach processing facility. The Hamama West oxides will provide early cash flow, and will represent the first stage of phased mine development at the Abu Marawat Concession.

The reverse circulation percussion ("RC") resource infill drilling program at the Hamama West gold-silver project was completed in August. The program was designed to primarily test the oxide gold cap of the Hamama West mineral resource estimate (MRE), with the specific objective of upgrading the confidence of the existing inferred resource. A total of 6,620m was drilled for the program, predominantly at the Hamama West zone. 3 holes were completed, for 297m, at the Western Carbonate zone, approximately 400m west of Hamama West. 5 holes were drilled at the West Garida prospect approximately 3km east of Hamama West, for 390m, (see news release dated September 1, 2022), with the remaining 5,933m drilled at Hamama West.

Previous oxide gold cap drilling intersections from the program include 2.90 g/t Au, 68.9 g/t Ag and 3.71 g/t AuEq over a 37m interval, from surface (drill hole HAP-115), 2.87 g/t Au, 54.3 g/t Ag and 3.51 AuEq over a 22m interval, from 1m depth (hole HAP-110), and 3.71 g/t Au, 258.4 g/t Ag and 6.75 g/t AuEq over a 12m interval, also from surface (drill hole HAP-137).