News 2018

Vancouver, March 21, 2018: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company”) is pleased to provide investors with an update on exploration activities at the Company’s 100% owned Abu Marawat Concession (“Abu Marawat” or the “Concession”), and to announce the results from the enhanced ground penetrating radar (“GPR”) geophysical survey, undertaken at 7 prospect areas during November 2017.

Highlights:

“Aton continues to be very encouraged by the findings from the various prospects surveyed and believes that the GPR survey provides another piece of the geological jigsaw puzzle that will lead to the generation of new drill targets in the coming months” said Mark Campbell, President and CEO. ”Though Rodruin remains our primary exploration target, the size of our Concession area has given us a number of other highly promising secondary targets like Abu Gaharish. Other prospects such as Miranda SE have real potential. These areas give the Company a large inventory of exploration targets within our Abu Marawat Concession. At the same time we are moving rapidly ahead with our Hamama development project, which we plan to bring onstream as an open pit mine and heap leach processing operation, by the end of 2019.”

An enhanced ground penetrating radar survey was commissioned and undertaken at the Abu Gaharish, Miranda SE, Sir Bakis, Semna, Waayrah, Bohlog and East Eradiya prospects (see Figure 1) within the Concession during November 2017. The survey was carried out by Terravision Exploration, of the UK, using their proprietary “GPRplus” enhanced ground penetrating radar system. The GPRplus system operates with a transmitter power of up to 20MW, which is much greater than the power output of conventional GPR systems. The greater transmitter power can result in depth penetration of up to 200m, very significantly deeper than that of conventional GPR systems. Antenna lengths of 3m and 6m were used in the Abu Marawat survey to maximize resolution as well as achieving depth penetration to about 100m in an attempt to delineate structures, contacts and potential mineralized zones within the subsurface at the prospects surveyed. A total of 41 profiles were surveyed for a total of approximately 12 line kilometers across the seven prospect areas.

The primary aim of the survey was to identify known geological structures and features within the individual prospect areas, and to use these as a baseline for the delineation of other similar structures or features. The survey was designed to enhance the 3-dimensional geological understanding of the areas profiled, with the goals of confirming the depth continuity of structures, features and mineralization identified at surface; the identification of new zones of potential mineralization; and ultimately to identify and delineate subsurface drilling targets.

A total of 6 GPR profiles were completed at Abu Gaharish, with a combination of 3m and 6m antenna lengths (see news release dated December 19, 2017). 4 long E-W profiles (GH-1 to GH-4, see Figure 2) were completed over the Main Zone, to try and identify the mineralized structures and the contact between the Gaharish granite and the country metavolcanic and sedimentary sequence, and also to test for possible repetitions of the generally west-dipping mineralized structures under wadi sediment cover west of the Main Zone. Additionally 2 shorter, more detailed profiles (GH-5 and GH-6) were run across the Main Zone mineralization using shorter 3m antennae to provide more detailed resolution and orientation over the mineralized structures and ancient workings seen at surface in the Main Zone. Profile GH-5 was coincident with the western end of profile GH-2.

Results from the Abu Gaharish prospect are very encouraging, with significant responses under wadi sediments, as well as within ‘islands’ of granite to the west of the Main Zone. The velocity responses pick out structures across the wadi area, which may indicate the presence of mineralized quartz veins and structures similar to those found in the Main Zone, which has previously returned surface channel sample intersections of 31.2m @ 1.04 g/t Au (see news release dated December 19, 2017). A wide zone of increased velocity, approximately 130m wide, was recorded within profiles GH1 and GH3, and was possibly also picked up at the western end of GH4. This appears to indicate the presence of a zone of en echelon veins, or possibly a shear structure associated with narrow sheeted veining, which may have RIRG affinities (see Figure 3). This large structure lies within and appears to skirt the rim of the late post-orogenic Gaharish granite and is probably at least 1.2km in length (see Figure 2). In addition to this zone, multiple structures have been identified across the wadi, suggesting a complex series of veins or structures occurs within a zone approximately 800m wide and at least 1km long. The results of the survey give support to the hypothesis that the Abu Gaharish area may host a significant body of structurally-controlled gold mineralization of RIRG affinity.

6 GPR profiles were surveyed at the Miranda SE prospect. A series of Au-Ag-Zn-Cu-Pb anomalous outcrops worked during ancient times have been identified at Miranda SE. Mapping of the area by Aton geologists has indicated the potential for VMS-epithermal hybrid style mineralization which may be genetically linked to the mineralization at Waayrah, within a NW-striking stratigraphic package (see news release dated June 27, 2017).

A very strong anomaly was identified in profile MV4 between mapped outcrops of gossan, potentially the surface expressions of VMS-epithermal hybrid style mineralization (see Figure 4). The anomalous response is located beneath wadi sediments and could be the continuation of a potential VMS horizon. This strong anomalous response was also confirmed in follow-up profile MV7. Recent limited, selective surface grab sampling in the Miranda SE area has returned grades of 7.28 g/t Au, 21.1 g/t Ag, 0.85% Cu, and 1.05% Zn (sample AHA-17964, 562400E-2927712N), 2.24 g/t Au, 1.23% Cu and 1.05% Zn (sample AHA-14717, 562562E-2926665N) and 0.36 g/t Au, 1.85% Cu, 2.42% Pb and 1.38% Zn (sample AHA-14796, 562401E2927704N) from gossanous outcrops.

7 GPR profiles were surveyed at the Sir Bakis prospect utilizing the 6m antenna in an attempt to pick out structures at depth across the Main Vein and the NW sheeted vein swarm area (see news releases dated September 13, 2017 and March 19, 2018).

Several potential vein structures were imaged as velocity responses along each of the profiles. The most prominent feature identified was seen in profile SB1, and is a potential continuation of the eastern zone of sheeted vein swarm mineralization intersected in trenches SBT-007 and SBT-008 (see news release dated March 19, 2018) that appears to continue beneath the wadi sediments to the north east of these trenches. Another potential sheeted vein swarm has also been interpreted further east along this profile (Figure 5) as well as potentially linking to other structures picked out on other survey profiles. These potential vein swarms appear to show a similar response to that seen profile in SB4 over the NW sheeted vein swarm exposed in trench SBT-001, which returned a surface channel sampled trench intersection of 109.1m @ 0.21 g/t Au (see news release dated September 13, 2017). The identification of further possible sheeted vein swarms enhances the potential for the delineation of a large body of low grade gold mineralization with potential RIRG affinities at Sir Bakis.

Gold mineralization at Semna is hosted in a heterogeneous quartz diorite body that has been intruded into a package of metasediments. There are 4 distinct E-W striking mineralized zones – the Main Vein, the South Vein, the North Vein and the Central Veins (see news release dated November 22, 2017 for more details on the Semna prospect). 3 N-S profiles were completed across the main zones of mineralization to identify the outcropping veins and mine workings for orientation purposes, with a view to delineating possible additional blind subsurface veins or mine workings.

The GPR survey identified numerous anomalous responses away from known mineralized structures, which are suggestive of multiple potential blind veins that do not outcrop at surface (see figure 6). These findings correspond with the existing geological model of structurally controlled veins that pinch and swell, and indicate potential for the discovery of hitherto unidentified high grade structures and veins at Semna.

7 profiles were surveyed at Waayrah, to test the interpreted western VMS horizon and also the eastern structure exposed in a modern pigment quarry, as well as other potential structures and VMS horizons. A single profile WY7 was completed approximately 700m north of the main Waayrah area to test for possible strike extensions of the Waayrah mineralization.

Several of the profiles at Waayrah identified and confirmed the depth extension of the main western VMS horizon mapped and sampled by Aton (see the news release dated June 27), as well as identifying several responses which may correspond to structures or additional VMS horizons. Profile WY2 showed a significant anomalous response toward its eastern end, which may be coincident with the weakly mineralized structure identified in the modern pigment quarry (see figure 7).

A total of 11 profiles were completed at the Bohlog (6) and East Eradiya (5) prospects. These surveys appear to confirm the geological models for each prospect area, as well as identifying several potential unidentified structures or features, that require further investigation.

The survey at Bohlog confirmed the depth potential of the known Zone 1 mineralized structure to at least 30m, and possibly deeper. Other potential structures that have similar anomalous GPR responses to the Zone 1 mineralized structure have also been delineated.

Anomalous responses from the East Eradiya survey indicate the presence of structures, and possibly underground workings, in the vicinity of the ancient mine dumps (see press release dated November 22, 2017). Trenching of these areas however has subsequently suggested that these ancient mine workings were not apparently targeting gold mineralization.

The results of the enhanced ground penetrating radar survey within the Concession are highly encouraging and generally the results appear to confirm Aton’s geological models for each prospect. The GPR responses at Abu Gaharish and Miranda SE are deemed to be especially promising, and the overall survey will assist in the generation of drill targets.

GPR responses at Abu Gaharish suggest the presence of blind mineralized structures beneath the wadi sediments and within the granites, west of the outcropping Main Zone, which are thought to represent a zone of en echelon veins, or possibly a shear structure with associated sheeted veining. These structures are potentially similar to those at the Main Zone, and significantly increase the potential overall width of the mineralized zone at Abu Gaharish. These GPR responses are typified by a dramatic increase in velocity, and are analogous to the responses identified from the detailed 3m profiles over the Main Zone.

The strong anomaly identified under the wadi at Miranda SE shows an immediate increase in velocity followed by a gradual decrease in the velocity of the signal within the structure. It is unclear what this blind structure represents, however it has good potential to be related to the mapped VMS-epithermal hybrid style mineralization on either side of the wadi, which has returned assays of up 7.28 g/t Au, 1.85% Cu, 2.42% Pb and 1.38% Zn from grab sampling.

The zone of disrupted signal, located beneath thin wadi sediments at Sir Bakis, and interpreted as a possible cluster of veins, potentially links together mineralization tested within trenches SBT-007 and SBT008 beneath the wadi. Several other vein-like structures have been identified during the GPR survey at Sir Bakis.

GPR responses related to potential blind mineralized veins or structures at Semna appear weaker than in other prospect areas but are still prevalent. This is thought to be indicative of the pinch and swell, structurally controlled nature of the known veins at Semna. Lateral geophysical discontinuities have been imaged on both the SM1 and SM2 profiles in similar locations along the survey line, and fit with the strike direction of other known structures and may be linked together at depth.

Results from the other prospect areas have delineated multiple structures for further follow-up, and it is expected that the information obtained during this survey will aid in the development of robust drill targets in the coming months.

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 Sukari gold mine. Aton has identified a 40 km long gold mineralized trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east, containing numerous gold exploration targets, including three historic British mines. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of RIRG and orogenic gold mineralization, VMS precious and base metal mineralization, and epithermal-IOCG precious and base metal mineralization. Abu Marawat is over 738km2 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.

The technical information contained in this News Release was prepared by Roderick Cavaney BSc, MSc (hons), MSc (Mining & Exploration Geology), FAusIMM, GSA, SME, Vice President, Exploration, of Aton Resources Inc. Mr. Cavaney is a qualified person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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

Mark Campbell
President and Chief Executive Officer
Tel: +202-27356548
Email: mcampbell@atonresources.com

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.