ATEX Commences 25,000-Meter Phase VI Drilling Program at Valeriano with Six Rigs

• Phase VI targets 25,000 metres of directional diamond drilling, representing a 50% increase over Phase V, with six rigs currently operating at the Valeriano Project
• First Phase VI drill hole completed in the B2B Zone, intersecting approximately 200 metres of B2B-style mineralisation within a 492-metre interval that ended in mineralisation
• Current B2B Zone mineral resource includes 28.4 million tonnes at 1.36% copper equivalent in the Indicated category, with Phase VI drilling focused on expansion to the north-northeast
• Programme includes systematic testing of new high-grade breccia targets identified through geophysical surveys and located closer to surface
• Technical studies progressing in parallel include hydrogeology, environmental baseline monitoring, DIA submission, infrastructure assessments and exploration decline permitting

ATEX Resources Inc. (TSXV: ATX) (OTCQB: ATXRF) is a Canadian-headquartered minerals exploration company exploring the Valeriano Copper-Gold Project in Chile's Atacama Region. The project is located within a mineral belt connecting the El Indio High-Sulphidation Belt and the Maricunga Gold Porphyry Belt, an area that hosts several copper-gold porphyry deposits including Filo del Sol, Josemaria, and La Fortuna. In September 2025, the company reported an updated mineral resource estimate following its Phase V programme.

Phase VI Drilling Programme Scale and Targets

ATEX has deployed six drilling rigs at Valeriano for Phase VI, targeting 25,000 metres of directional diamond drilling. The programme commenced six weeks earlier than the 2024 Phase V campaign. Drilling will use cost-effective directional diamond drilling methods across the exploration targets.

The programme allocates metres across three priorities: further delineation and growth of the B2B Zone, exploration of new high-grade breccia targets, and continued expansion of the Valeriano porphyry system where limits remain undefined. The structure allows for reallocation of resources based on results received during the programme.

Ben Pullinger, President and CEO, stated:

"Phase V materially advanced our knowledge of Valeriano, delivering the highest-grade and most significant drill results in Valeriano's history. The programme confirmed and extended the high-grade B2B Zone, extended the high-grade porphyry trend within the broader system and expanded the mineralised footprint culminating in an updated Mineral Resource statement, establishing Valeriano as the largest copper discovery in Chile in a decade."

B2B Zone Expansion and High-Grade Breccia Exploration

Phase VI drilling will focus on further delineation of the B2B Zone, with particular attention to expansion to the north-northeast where step-out drilling has confirmed size and scale but limits remain undefined. The B2B Zone contains 28.4 million tonnes in the Indicated category at 1.36% copper equivalent (0.95% copper, 0.33 grams per tonne gold, 1.98 grams per tonne silver and 134 grams per tonne molybdenum at a 0.6% copper cut-off grade), plus 2.6 million tonnes in the Inferred category at 1.05% copper equivalent.

The first Phase VI drill hole, ATXD25C, has completed drilling. Phase V results from this hole returned approximately 8 metres of 2.26% copper equivalent (1.69% copper, 0.80 grams per tonne gold, 5.0 grams per tonne silver and 30 grams per tonne molybdenum). The completed Phase VI extension intersected approximately 200 metres of B2B-style mineralisation within a 492-metre interval ending in mineralisation.

The programme will test new exploration targets identified through geophysical signatures similar to the B2B Zone. These targets are located closer to surface than the main B2B Zone. The company will also continue infill and extensional drilling at the Valeriano porphyry system, which contains 118 million tonnes at 1.07% copper equivalent in the Indicated category and 161 million tonnes at 1.01% copper equivalent in the Inferred category at a 0.5% cut-off grade.

Project De-risking Through Engineering and Environmental Studies

ATEX is conducting technical and regulatory work alongside the drilling programme. Hydrogeological studies are underway to develop a hydrological model covering the operational area, with focus on verifying no disturbance to surface and underground water resources. These studies support environmental compliance requirements in Chile's mining regulatory framework.

Environmental monitoring programmes have been expanded to increase baseline data coverage, supporting the Declaration de Impacto Ambiental (DIA) submission requirements. The DIA is Chile's environmental impact declaration process. This work addresses permitting requirements for the project's advancement through regulatory stages.

Infrastructure studies are assessing a potential secondary access road for site logistics. The company has also initiated investigations into permitting for an underground exploration decline, which would provide direct access to mineralisation. These engineering studies include geotechnical assessments and are intended to support future development planning at Valeriano.

Looking Ahead

The Phase VI programme targets resource growth through drilling at the B2B Zone, testing of new breccia targets, and expansion of the porphyry system. Six rigs are currently operating, with initial drill results expected in the coming months. The company plans to provide updates as the programme progresses. Concurrent with exploration, ATEX is advancing engineering, environmental and permitting work at Valeriano.

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