VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 11, 2016) - Aton Resources Inc. ("ATON" or the "Company") (TSX VENTURE:AAN) announces that it has redeemed with cash all of its 12% senior unsecured convertible debentures due May 29, 2016 in the aggregate principal amount of $215,000.
About Aton Resources Inc.:
Aton Resources Inc. (TSX VENTURE:AAN) is exploring potentially economic gold, silver and base metal deposits in the Central Eastern Desert of Egypt with the aim of developing mines. The Company's 100% owned concessions, Abu Marawat and Fatiri, between them cover 2,772 km2 of under explored ground. Evidence of gold and copper mining in the concessions dates the many surface workings to pre-historic possibly Old Kingdom through Ptolemaic, Roman and Early Arab times. Three historic gold mines occur within the two concessions: British miners produced gold at Sir Bakis, Semna and Abu Zawal into the 1920s.
Much of the gold vein mineralization in the district is orogenic related, quartz-carbonate type and is associated with major shear-zones. Centamin's Sukari gold mine is located 400 km to the south of Abu Marawat, in the same belt. The Abu Marawat and Fatiri Concessions cover a Proterozoic Pan-African greenstone belt. This is part of the Arabian Nubian Shield that also occurs in Saudi Arabia, Sudan, Eritrea and Ethiopia. Significant VMS deposits in this belt includes Jabel Sayid (Saudi Arabia); Bisha Main and Harena (Eritrea); Hassai, plus Hadal Awatib (Sudan) and Emba Derho, Debarwa plus Adi Nefas (Eritrea). Alexander Nubia's Hamama gold-silver VMS is geologically similar to these VMS deposits. Similar geological settings to the Arabian Nubian Shield include the greenstone belts of the Yilgarn (Western Australia), Abitibi (Quebec) and Birimian (West Africa). The Arabian Nubian Shield is most similar in age to the latter.
The Company's land package, located 350-400 km southeast of Cairo, includes excellent infrastructure. Hamama has direct access to two four-lane highways, a zero-gradient railway bed that runs through Abu Marawat concession to a Red Sea port, multiple high-voltage (capacity 220kV) power lines that cross between the two concessions, a water pipeline and nearby major cities. The latter include Qena, on the Nile 70 km to the west and the Port of Safaga, on the Red Sea, 50 km to the east. The city of Luxor, a two-hour drive from Hamama, has an international airport.
Cautionary Note Regarding Forward-Looking Statements
The securities of Aton Resources Inc. described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. 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