05:59:05 EDT Thu 30 Jul 2026
Enter Symbol
or Name
USA
CA



Aton Resources Inc (2)
Symbol AAN
Shares Issued 127,454,413
Close 2026-07-29 C$ 0.50
Market Cap C$ 63,727,207
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Aton, Xinhai enter MOU to develop Egyptian properties

2026-07-30 04:21 ET - News Release

Mr. Tonno Vahk reports

ATON ANNOUNCES STRATEGIC COOPERATION RELATIONSHIP AND BOARD NOMINEE

In connection with the subscription by Hong Kong Xinhai Mining Services Ltd. for $4-million of common shares in Aton Resources Inc.'s previously announced private placement, Aton has entered into a memorandum of understanding for a strategic co-operation agreement with Xinhai. Under the terms of the MOU, Aton and Xinhai confirm their intention to establish a strategic co-operation relationship for the further development of Aton's Egyptian mineral properties. Following the closing of the placement, the parties will discuss ways in which they will collaborate to advance the development of Aton's properties with a view to negotiating and entering into binding agreements to give effect to such intentions.

Following the closing of the placement, Aton intends to appoint Zhongyi (John) Zhang, a nominee of Xinhai, to the company's board of directors, subject to his acceptance by the TSX Venture Exchange.

About Aton Resources Inc.

Aton is focused on its 100-per-cent-owned Abu Marawat concession, located in Egypt's Arabian-Nubian Shield, approximately 200 kilometres north of AngloGold Ashanti's world-class Sukari gold mine. Aton has identified numerous gold and base metal exploration targets at the concession, 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 the concession, which display potential for the development of a variety of styles of precious and base metal mineralization. The Abu Marawat exploitation lease is 57.66 square kilometres 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 square kilometres of exploration areas, retained for a further period of four years from January, 2024. The concession is located in an area of excellent infrastructure, with a four-lane highway, a 220-kilovolt power line and a water pipeline in close proximity, as are the international airports at Hurghada and Luxor.

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