AMN - EGYPT: Mining licence approved for Hamama

The application by Aton Resources for an exploitation licence at Hamama and its retained exploration areas at the company's Abu Marawat concession area have been approved. It is just the second mining licence to be issued in Egypt since Centamin received a licence for the Sukari gold mine.

Abu Marawat Concession, in Egypt's Arabian-Nubian Shield, is around 200km north of Centamin's world-class Sukari 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.

The company's president and CEO Mark Campbell said: "As only the second mining licence to be issued since Centamin's, this is historic news for Aton and Egypt.

"We are very excited to announce this news, which has been the culmination of over 10 years of work by Aton.

"This not only grants Aton a licence for 20 years with an additional 10-year option period, that allows us to get on with the Hamama Development and as well allows us to continue the exploration at Rodruin and our other exploration targets, within our Abu Marawat concession.

"It also underscores Egypt's new commitment to developing its exploration and mining sector. Egypt is a country that is blessed by having huge untapped mineral potential, not only in gold but across all precious, base and industrial minerals, along with having world-class infrastructure, a great pool of skilled and semi-skilled labour all within a strong and stable country.

"We believe that the granting of our licence will point the way to a bright future for exploration and mining in Egypt.

"We also look forward to the opportunity to acquire more exploration land within Egypt that these changes now afford us. We eagerly look forward to participating in the upcoming exploration tender and working in Egypt for many years to come."

There are three historic British mines on the Abu Marawat concession at Sir Bakis, Semna and Abu Garida.

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.

www.atonresources.com