Mr. Tonno Vahk reports

ATON ANNOUNCES THE START OF A 10,000M RC EXPLORATION DRILLING PROGRAMME AT ABU MARAWAT

Aton Resources Inc. has now commenced a 10,000-metre program of reverse circulation percussion (RC) exploration drilling at its 100-per-cent-owned Abu Marawat concession in the Eastern Desert of Egypt.

"I am very pleased to be able to announce that Geodrill have now started on our highly anticipated regional RC exploration drilling program," said Tonno Vahk, interim chief executive officer. "We are delighted to finally be in a position to get out and drill some of our regional targets for the first time at Abu Marawat. We have no doubt that we have one of, if not the most prospective package of gold exploration projects in Egypt. The team on the ground has worked hard to get this program together, and are very excited to be finally starting drilling at some of these great targets. We are absolutely confident that the results of the drilling will speak for themselves in the coming months."

2023 Abu Marawat RC drilling program

Aton signed a contract with Geodrill's Egyptian branch, Geodrill for Leasing and Specialized Services Freezone LLC, for 10,000 m of RC drilling at the Abu Marawat concession in April, 2023 (see news release dated April 20, 2023). Geodrill's X900 multipurpose drill rig arrived at the West Garida prospect on May 18, 2023, and commenced drilling on the first hole of the program, WGP-006. The powerful X900 multipurpose rig carries a 1,200-cubic-foot-per-minute/430-pound-per-square-inch on-board compressor, and an additional service unit equipped with a 1,200 cfm/430 psi auxiliary compressor and 1,800 cfm/900 psi booster pack. The X900 rig has a rated RC depth capacity of 400 m.

Drilling has commenced at the West Garida prospect, which is only three kilometres away from the company's Hamama West deposit. A short program of 19 holes has been planned at West Garida, for a total of 1,370 metres to follow up on a previous drill intersection of 41.7 grams per tonne Au, 263 g/t silver and 2.08 per cent Pb over a one m interval (see news release dated Sept. 1, 2022). Mineralization at West Garida is associated with narrow high-grade quartz veins.

After the completion of the West Garida program the rig will then be mobilized to the Abu Gaharish prospect, where a temporary exploration camp has been erected to service the drilling. Drill pad construction is almost finished at the prospect, and is expected to be completed in the coming days. Abu Gaharish is located approximately 16 kilometres east-northeast of the company's main exploration camp at Rodruin, and is accessed by rough desert tracks. A provisional program of 28 holes has been planned for a total of 4,040 metres at Abu Gaharish. The company believes that Abu Gaharish is an analogue of the world-class Sukari deposit, approximately 200 km south of Abu Marawat, and where artisanal miners have recently exploited a highly prospective structural system consisting of numerous mineralized veins and structures along an about three km strike length on the southeastern margin of the Gaharish granite pluton. Aton has carried out extensive surface sampling at Abu Gaharish with samples grading up to 157 g/t Au (see news release dated Oct. 28, 2021).

A further program of 17 holes for a total of 3,600 m has been designed at the Semna prospect, which will be drilled after Abu Gaharish, and where drill access road and pad construction is also well advanced. Semna is located approximately 10 km northwest of Abu Gaharish. The Semna area has a long history of gold mining, during both ancient and modern times, dating back as far as the Old Kingdom period, over 4,500 years ago. Semna was exploited by two British companies between 1904 and 1906, that reported that Semna had the widest vein mined during the British phase of mining in Egypt in the early 20th century, reaching up to six m in width in places. The British reported mining grades of over two ounces per ton. Reports from the British Mining Journal from 1905 indicated that some pillars from the ancient Pharaonic era stopes assayed up to 5.5 ounces per ton gold. Mineralization is associated with at least four subparallel structures at Semna, and Aton has returned channel sampling intercepts including 5.17 g/t Au over an interval of 9.7 m at surface, and individual channel samples grading up to 18.05 g/t Au (see news release dated Nov. 22, 2017).

Further drilling programs are being developed to also test the Zeno, Sir Bakis and Bohlog areas in the current RC program.

About Aton Resources Inc.

Aton Resources is focused on its 100-per-cent-owned Abu Marawat concession, 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 mineralization. Abu Marawat is 447.7 square km in size and is located in an area of excellent infrastructure; a four-lane highway, a 220-kilovolt 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 Orduna, BSc (honours), MSc, MCSM, DIC, MAIG, SEG, exploration manager of Aton Resources. Mr. Orduna is a qualified person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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