Mr. Tonno Vahk reports

ATON REPORTS 104.5 G/T GOLD FROM SURFACE SAMPLING AT THE ZENO PROSPECT

Aton Resources Inc. has provided an update to investors with the latest results from its recent surface sampling programs at its regional target areas, undertaken ahead of the continuing reverse circulation percussion (RC) drilling program at the company's 100-per-cent-owned Abu Marawat concession, in the Eastern Desert of Egypt.

Highlights:

• A total of 60 selective grab samples were collected from the Zeno prospect area.
• Samples returned assays including 104.5 grams per tonne gold, 67.1 g/t Au and 43 g/t Au.
• A further four samples returned assays greater than 10 g/t Au, and a further nine samples also returned assays greater than five g/t Au.
• The structural orientations are markedly similar to those observed at the nearby Semna gold mine.
• Samples were taken in previously unsampled areas, which have been heavily exploited by artisanal miners in recent times. The results of this phase significantly expand the area of mineralized veins and structures in the Zeno prospect area.

"This is another set of very impressive sampling results from an area that we have done little work in since identifying its potential significance back in 2018. The entire Semna-Zeno area is certainly shaping up as a very high-priority target, and we are looking forward to getting the RC rig up to Semna in July, and then on to Zeno to test some of these potentially very high-grade structures and veins," said Tonno Vahk, interim chief executive officer. "Meanwhile, as the RC drilling is ongoing out in the field, our external consultants Cube and Wardell Armstrong International are pushing ahead on the final submission to the Egyptian Mineral Resources Authority in support of our upcoming application for the mining licence at the Abu Marawat concession, and which we expect to be finalized within the coming months. This continues to be a very busy period for Aton, as we get closer to the mining licence application, and these results again show the potential for the long-term development of multiple gold mines at Abu Marawat."

Abu Marawat regional sampling program

The company has undertaken several surface sampling programs, as part of its preparation and planning activities for the regional RC exploration drilling program started in May, 2023 (see news release dated May 19, 2023). As previously reported, all the company's main exploration targets have recently been worked by artisanal miners, predominantly since the company's suspension of field activities in 2020 as a result of the COVID-19 pandemic, which has provided an opportunity to carry out additional sampling and mapping of the known structures, as well as previously unidentified mineralized structures that have been exploited by the artisanal miners. The company has continued to work in close co-operation with its local Bedouin partners, and in the past two months has managed to successfully remove all the artisanal miners from the primary areas of interest within the Abu Marawat concession area. Samples from the first programs returned assays up to and including 67.5 g/t Au from Abu Gaharish, 54.9 g/t Au from Bohlog and 27.6 g/t Au from Semna (see news release dated May 29, 2023).

Zeno regional sampling program

Sampling was undertaken at the Zeno prospect area, located approximately 12 kilometres north of its Rodruin mineral deposit and four km west of the old Semna gold mine. Artisanal miners have been very active in the general Zeno area in the previous three years, and have excavated numerous open-pit and underground workings on what Aton believes to be potentially very high-grade gold mineralized veins and structures. Previous surface sampling by Aton of visible gold and iron oxide-bearing quartz veins, prior to the incursion of the artisanal miners, returned assays including 117.5 g/t Au, 100.5 g/t Au, 72.3 g/t Au, 56.5 g/t Au and 48.3 g/t Au (see news release dated May 30, 2018).

Aton has recently completed a program of selective grab sampling at Zeno, in areas to the south and west of the area sampled in 2018. A total of 60 samples were collected, including one field duplicate sample. In addition two quality assurance/quality control samples, one blank and one duplicate sample, were inserted into the sample run sent for assaying. Following the completion of this currently reported program additional sampling has also been undertaken in the Zeno and Semna areas, and the results of this more recent work will again be reported once they become available.

Discussion of results

The mineralization worked extensively in both ancient and recent times in the Zeno area appears to consist predominantly of narrow (typically less than two m) quartz veins and quartz-veined shear zones, typically hosted within grey to pinkish-coarse grained granodiorites. Some of the individual veins and workings can be traced for 300 m or more. Previous sampling has indicated that the mineralization is hosted within both the quartz veins and their altered and sheared wall rocks. In places the veins appear to pinch and swell with some of the underground workings reaching up to five m width in places (see news release dated May 30, 2018).

Of the 60 samples taken in the current program seven (12 per cent of the samples) returned assays greater than 10 g/t Au, 16 (27 per cent) returned assays greater than five g/t Au and 28 in total (47 per cent) returned assays greater than one g/t Au. Visible gold was identified in several of the samples.

The current sampling program has confirmed that gold is hosted in quartz veins and their surrounding altered and sheared wall rocks in typically narrow zones, that sometimes pinch and swell. In some places multiple veins were observed to coalesce together and anastomose, and in other areas narrow veinlets within broader altered and sheared zones returned high grades of gold mineralization (such as 13.65 g/t Au from sample AHA-45507. This structure also returned an assay of 67.10 g/t Au, farther along strike). The quartz veins are frequently vuggy, and contain iron oxides on fracture surfaces and in cavities. The veins appear to carry only very limited primary sulphide minerals, as indicated by the low base metal levels, although traces of green copper oxide staining were occasionally observed.

The veins are typically steep, and occur in multiple orientations; however, there appears to be a dominant orientation striking approximately east-southeast to east-northeast throughout the area, with the veins and shear zones generally dipping between about 60 degrees to subvertically to the south. There are also a number of approximately north- to north-northeast-striking structures and veins, including one which returned a gold grade of 104.5 g/t (sample AHA-45532). It is noted that the style and structural setting of the Zeno mineralization are very similar to those at the Semna gold mine, approximately four km to the east.

The current sampling program has considerably expanded the mineralized area at the Zeno prospect, and has confirmed the presence of multiple high-grade gold-bearing veins and structures, up to several hundreds of metres long, throughout the general area.

Sample processing and analytical procedures

Samples were collected in the field by Aton's exploration teams. The selective grab samples were collected manually, and were mostly, but not entirely, collected in situ, with some samples collected from the artisanal miners' residual rock dumps and ore piles, for example.

The samples were weighed and crushed to minus four millimetres on site at the Rodruin sample prep facility, and split to a nominal approximately 250-to-500-gram sample size. The coarse crushed reject samples are retained on site.

The approximately 250-to-500-gram dried, crushed and split samples were shipped to ALS Minerals' sample preparation laboratory at Marsa Alam, Egypt, where they were pulverized to a size fraction of better than 85 per cent passing 75 microns. From this pulverized material a further subsample was split off with a nominal approximately 50-gram size, which was shipped on to ALS Minerals at Rosia Montana, Romania, for analysis. The reject pulps were returned from ALS, and are also retained on site.

Samples were analyzed 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 (greater than 10 g/t Au) were reanalyzed using analytical code Au-GRA21 (also fire assay, but with a gravimetric finish).

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(M), 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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