VANCOUVER, BC / ACCESS Newswire / July 29, 2026 / Aton Resources Inc. (TSXV:AAN) ("Aton" or the "Company") announces that, in connection with the subscription by Hongkong Xinhai Mining Services Limited ("Xinhai") for $4M of common shares in the Company's previously announced private placement (the "Placement"), it has entered into a memorandum of understanding for a strategic cooperation agreement with Xinhai (the "MOU"). Under the terms of the MOU, Aton and Xinhai confirm their intention to establish a strategic cooperation 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 Resources Inc. (AAN:TSXV) is focused on its 100% owned Abu Marawat Concession ("the Concession"), located in Egypt's Arabian-Nubian Shield, approximately 200 km 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 mineralisation. The Abu Marawat exploitation lease is 57.66 km2 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 km2 of exploration areas, retained for a further period of 4 years from January 2024. The Concession 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
Chief Executive Officer
Tel: +1 604 318 0390
Email: info@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.
SOURCE: Aton Resources, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/aton-announces-strategic-cooperation-relationship-and-board-nominee-1198599
