VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 12, 2016) - Aton Resources Inc. (TSX VENTURE:AAN) (the "Company" or "Aton") is pleased to announce that Blaine Monaghan has been appointed Vice President, Investor Relations. Mr. Monaghan's appointment greatly increases the depth of business, financing and corporate experience at Aton and is a timely addition as the Company continues to advance its 100% owned Abu Marawat Concession, which includes Hamama and the Abu Marawat gold project, located in Egypt.
Blaine Monaghan is an investor relations professional with a successful track record of helping mineral exploration and development companies create shareholder value. Most recently, Mr. Monaghan was Director, Investor Relations, of True Gold Mining Inc., acquired by Endeavour Mining Corp. for approximately $240 million in 2016. Prior to True Gold, Blaine worked for Canplats Resources Corp., acquired by Goldcorp Inc. for approximately $300 million in 2010. Before Canplats, Mr. Monaghan worked for Western Prospector Group Ltd., acquired by a subsidiary of China Nuclear National Corp. in 2009. Prior to Western Prospector, Blaine worked for Wheaton River Minerals Ltd., which merged with Goldcorp in 2005. Mr. Monaghan holds a Bachelor of Arts degree from Simon Fraser University, a Diploma in Public Relations from the Public Relations Institute of Ireland and has completed the Canadian Securities Course.
Mark Campbell, President and Chief Executive Officer, stated: "We are very pleased to welcome Blaine Monaghan to the management of Aton Resources as Vice President, Investor Relations. Blaine brings significant experience in investor relations, financing and strategic planning to this vital role. His experience and skills will help Aton create shareholder value as we work to make a major discovery at Hamama and continue to unlock the district size potential of our Abu Marawat Concession."
Mr. Monaghan, as part of his compensation, will be granted incentive stock options exercisable to purchase up to 300,000 common shares in the capital of the Company at an exercise price of $0.08 per share for a period of five years. The incentive stock options will vest 25% three months from the date of grant; an additional 25% will vest every three months thereafter.
About Aton Resources Inc.:
Aton Resources Inc. (TSX VENTURE:AAN) is in the business of exploring for and developing potentially economic gold deposits in the Central Eastern Desert of Egypt in the Arabian Nubian Shield ("ANS"). The Company's 100%-owned concession, Abu Marawat, covers 738 km2 of ground. Evidence of gold and copper mining in the concessions dates the many surface workings to pre-historic (Bronze Age) and Old Kingdom (Pharaonic), through Ptolemaic, Roman, Early Arab times and into the European Era of the early to mid-20th Century. Within the Abu Marawat concession, the Company holds two historic gold mines; Sir Bakis and Semna. In addition to showing signs of ancient mining, these mines were also controlled by British companies, who abandoned the mines in the early 1950s due to political changes. One of the Company's gold mines, Sir Bakis, is located 12 kilometers east-northeast of Hamama. Historic development and extraction was along the 375 meters of the currently identified 1,300 meter-long, steeply dipping, gold-bearing quartz vein. There is evidence of ancient mining from ancient workings to the remains of a Roman mill and outpost 7km North of Hamama.
Much of the gold-vein mineralization in the ANS is of the orogenic, quartz-carbonate-type and is associated with major north-northwest and northeast trending shear-zones. Centamin's Sukari gold mine is located 400 km to the south of Abu Marawat, in the same mountain belt.
The Proterozoic-aged Pan-African greenstone belt of the ANS underlies the Abu Marawat Concession. The ANS also underlies the Red Sea and large parts of Saudi Arabia, The Sudan, Eritrea and Ethiopia. Significant VMS deposits in the ANS include Barrick and Ma'aden 50:50% JV of Jabal Sayid in Saudi Arabia; Nevsun Bisha Main and Harena in Eritrea; La Mancha's Hassai and Hadal Awatib in the Sudan and Sunridge Emba Derho, Debarwa and Adi Nefas in Eritrea. The Company's Hamama gold-rich VMS shares key geological similarities with these major VMS deposits.
Similar geological settings to the ANS include the greenstone belts of the Yilgarn of Western Australia, the Birimian of West Africa and the Abitibi in Quebec, Canada. The ANS is most similar in age to the Birimian.
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: Qena, on the Nile River, 70 km to the west, and Port of Safaga, on the Red Sea, 50 km to the east. The city of Luxor, ancient Thebes, is a two-hour drive from Hamama and has an international airport.
For more information on Aton Resources visit www.atonresources.com.
Cautionary 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.