ATEX Reports High-Grade Copper-Gold Intercept at Southern Edge of B2B Breccia, Confirms Phase VI Program Completion

• Hole ATXD23C returned 20 metres grading 4.10% copper equivalent (CuEq) within a broader 78 metres of 3.03% CuEq.
• The high-grade B2B breccia has been traced along approximately 600 metres of strike length, up from a previously interpreted 400 metres.
• Phase VI drilling concluded at 28,400 metres, above the original 25,000 metre target, with approximately 35% of assay results still pending.
• Hole ATXD31A intersected high-grade mineralisation along the lower B2B zone; hole ATXD31B extended results toward the northern margin of the system.
• Several holes ended in mineralised rock, and the system remains open in multiple directions.

ATEX Resources Inc. (TSX: ATX) (OTCQX: ATXRF) is a Canada-based mineral exploration company focused on its Valeriano copper-gold project in the Atacama region of Chile. Valeriano currently holds an Indicated Mineral Resource of 475 million tonnes at 0.88% CuEq and an Inferred Mineral Resource of 1,511 million tonnes at 0.75% CuEq.

High-Grade B2B Breccia Southern Boundary Drill Results Including 20m at 4.10% CuEq Within 78m at 3.03% CuEq

Hole ATXD23C, drilled to test the shallower portion of the B2B breccia, intersected 20 metres of 4.10% CuEq (2.53% copper, 1.39 g/t gold, 9.3 g/t silver, 84.0 g/t molybdenum), within a wider 78 metre interval grading 3.03% CuEq, itself part of a 124 metre section averaging 2.65% CuEq. Copper equivalent (CuEq) combines the value of multiple metals, in this case copper, gold, silver, and molybdenum, into a single grade figure for comparison purposes.

The hole also intersected mineralised diorite porphyry beneath the breccia, linking the high-grade B2B zone to the underlying porphyry system. It ended while still in mineralised rock, meaning drilling stopped before reaching the edge of mineralisation.

Chris Beer, Interim President and CEO, said:

"These results continue to strengthen our confidence in the continuity of the high-grade B2B breccia and its relationship to the underlying high-grade porphyry system. Hole ATXD23C adds significant high-grade mineralization at the southern boundary of the currently defined B2B Mineral Resource, while holes ATXD31A and ATXD31B demonstrate that the system remains open to the north."

B2B Strike Length Expanded to 600m Representing 50% Increase With System Open in Multiple Directions

Cumulative results from Phase VI drilling extended the interpreted footprint of the B2B breccia to approximately 600 metres of strike length, up 50% from the previously modelled 400 metres. Strike length refers to the horizontal distance over which a mineralised zone can be traced.

Hole ATXD31A, testing the lower and northwestern part of the B2B zone, intersected 64 metres of 1.02% CuEq within a broader 84 metre interval of 0.96% CuEq. Hole ATXD31B, drilled further north to test the northern margin of the breccia, returned 146 metres of 1.14% CuEq within a 408 metre interval of 0.88% CuEq. The final 174 metres of ATXD31B remain pending assay results.

Previously reported results from hole ATXD19A indicate the B2B breccia extends approximately 180 metres further south than currently modelled. Follow-up drilling in this area will resume in September with the continuation of hole ATXD19B, as part of the Phase VII program.

Record Phase VI Program Completion at 28,400 Metres With 35% of Assays Still Pending

Phase VI drilling has been completed at a total of 28,400 metres, exceeding the original 25,000 metre target. The program comprised approximately 15,500 metres in the high-grade B2B zone, 11,750 metres testing nearby high-grade breccia targets, and 1,025 metres on porphyry extensions. Approximately 65% of assay results have been released to date, with the remaining 35% expected through July as laboratory results are finalised.

Several holes, including ATXD19A, ATXD25E, ATXD31C, ATXD36, ATXD37, and ATXD39A, have assays outstanding. Others, including ATXD19B, ATXD25F, ATXD35A, ATXD40A, and ATXD41, were paused in mineralisation for follow-up drilling in the next season.

The remaining assay results from this season's drilling are expected to be released progressively over the coming weeks.

Milestones and Next Steps

ATEX expects to release the remaining 35% of Phase VI assay results through July. Phase VII drilling is scheduled to resume in September with the continuation of hole ATXD19B, targeting the southern extension of the B2B breccia identified through earlier drilling.

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