Aton Announces Bridge Loan Draw

VANCOUVER, British Columbia, July 27, 2022 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) ("Aton" or the "Corporation") announces that further to its news release of July 14, 2022, it has drawn an additional $608,860 pursuant to its bridge loan facility (the "Loan") with Ou Moonrider ("Moonrider"). The proceeds of the Loan will be used by the Corporation for ongoing working capital expenses and continuing its drilling program at Rodruin.

In connection with this draw, Moonrider has been issued 2,214,036 non-transferable warrants exercisable for one common share at a price of $0.275 per warrant with an expiration date of July 27, 2023. The Corporation has now fully drawn down the $1,000,000 available to it under the Loan and has issued a total of 3,475,777 non-transferable warrants to Moonrider. The warrants and any shares issuable on their exercise are subject to a hold period which expires four months from the date of issuance, being November 22, 2022, for the first tranche warrants and November 28, 2022, for the second tranche warrants.

About Aton Resources Inc.

Aton Resources Inc. (AAN: TSX-V) is focused on its 100% owned Abu Marawat Concession ("Abu Marawat"), 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 mineralisation. Abu Marawat is 447.7 km² in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity, as are the international airports at Hurghada and Luxor.

For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact:

Tonno Vahk

Interim CEO
Tel: +1 604 318 0390
Email: [email protected]

Note Regarding Forward-Looking Statements

Some of the statements contained in this release are forward-looking statements. Since forward-looking statements address future events and conditions; by their very nature they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.