ATEX Extends High-Grade B2B Breccia to 600 Metres, Identifies New Mineralization East of the Zone

• Hole ATXD19A extended the high-grade B2B breccia 180 metres south, bringing the strike length to approximately 600 metres; the zone remains open to the south.
• Hole ATXD35 extended the broader B2B mineralized corridor approximately 200 metres northeast, about 100 metres beyond the current resource boundary.
• ATXD35 intersected 10 metres at 2.34% copper equivalent starting at 48 metres depth, identified as a near-surface high-grade interval.
• Step-out hole ATXD26C returned 306 metres at 0.82% copper equivalent within a broader 792-metre interval at 0.71% copper equivalent.
• Phase VI drilling concluded at approximately 28,400 metres, exceeding the 25,000-metre target; about 44% of assays have been received, with the remainder expected through July.

ATEX Resources Inc. (TSX: ATX) (OTCQX: ATXRF) is a Canada-based mineral exploration company focused on the Valeriano copper-gold project in the Atacama region of Chile. The project has a reported indicated resource of 475 million tonnes at 0.88% copper equivalent and an inferred resource of 1,511 million tonnes at 0.75% copper equivalent, as of September 2025. ATEX continues to conduct exploration drilling at Valeriano with the stated aim of expanding and defining the deposit.

High-Grade B2B Breccia Strike Length Extended with Southern Extension Confirmed

Hole ATXD19A extended the high-grade B2B breccia 180 metres to the south, increasing the total strike length to approximately 600 metres. The zone remains open in this direction.

Partial assays from ATXD19A returned 70 metres grading 0.99% copper equivalent (0.64% Cu, 0.29 g/t Au) within a broader interval of 228 metres at 0.82% copper equivalent. Copper equivalent is a calculated value combining the contributions of copper, gold, silver and molybdenum into a single grade figure for comparison purposes. Approximately 940 metres of additional assay results from this hole remain pending.

A parallel hole, ATXD19B, has advanced approximately 270 metres beyond the end of ATXD19A and is currently paused within porphyry-style mineralization. Drilling on this hole is planned to resume during Phase VII.

Broader B2B Mineralized Corridor Expanded to the Northeast with New High-Grade Conduits Identified

Hole ATXD35 extended the broader B2B mineralized corridor approximately 200 metres northeast of the defined breccia zone, roughly 100 metres beyond the boundary of the current copper resource. The company has stated that additional drilling is required to determine whether this mineralization represents a lateral extension of the existing B2B system or a separate intrusive centre.

ATXD35 returned 400 metres at 0.56% copper equivalent (0.42% Cu, 0.10 g/t Au, 1.0 g/t Ag, 67.1 g/t Mo) from 1,232 metres downhole. The same hole also intersected 10 metres at 2.34% copper equivalent (1.99% Cu, 0.27 g/t Au, 8.6 g/t Ag, 1.5 g/t Mo) starting at 48 metres depth, described by the company as a discrete high-grade interval requiring further drilling to assess its relationship to deeper mineralization.

Interim President and CEO Chris Beer stated:

"Results from ATXD34 and today's ATXD35 suggest that mineralization east of the B2B breccia may not represent isolated zones, but rather part of a larger and more continuous structural-mineralized trend extending to the north, east and southeast. Importantly, this newly identified B2B mineralized corridor remains open in multiple directions and may indicate either a significantly larger mineralized system than previously interpreted or the presence of an additional porphyry source to the east."

Phase VI Drill Program Concludes with Record Meterage as Assay Results Remain Pending Ahead of Phase VII

Phase VI drilling concluded with the demobilization of six rigs, coinciding with the onset of the Chilean winter season. The program totaled approximately 28,400 metres, exceeding the initial 25,000-metre target. Of this total, approximately 15,500 metres was drilled within the high-grade B2B zone, 11,750 metres on nearby high-grade breccia targets, and 1,025 metres on porphyry extension targets.

To date, approximately 44% of assays from the program have been received, with the remaining results expected to be reported through July as they are finalized by the laboratory. Several holes, including ATXD23C, ATXD25E, ATXD31, ATXD36, ATXD37 and ATXD39A, have assays pending, while others, including ATXD19B, ATXD25F, ATXD35A, ATXD40A and ATXD41, are paused for follow-up drilling in the next program.

ATEX has stated that the geological and operational insights gained during Phase VI will inform planning for Phase VII, which the company expects to begin in early September.

Outlook

Outstanding assay results from Phase VI, including the remainder of hole ATXD19A, are expected to be released through July. Phase VII drilling is planned to begin in early September, with the southern extension of the B2B breccia and the newly identified eastern mineralized corridor among the areas the company has indicated for further follow-up.

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