ATEX Reports Record-Grade Intercept in Phase VI Drilling at Valeriano

• Drill hole ATXD25C intersected 164 metres of 2.72% copper equivalent (1.69% copper, 0.97 g/t gold), including 40 metres of 4.73% CuEq (2.76% copper, 1.88 g/t gold) starting at 1,558 metres downhole
• Results represent the highest-grade intercept encountered in the B2B Zone to date and exceed grades estimated in the 2025 Mineral Resource for this area
• Six diamond drill rigs are operational targeting approximately 25,000 metres of drilling, with operations commencing six weeks earlier than Phase V
• Seven additional drill holes are underway testing B2B Zone extensions and new targets, with assay results pending
• The B2B Zone remains open in all directions, with 56 metres of assays still pending from ATXD25C

ATEX Resources Inc. (TSXV: ATX) is a minerals exploration company focused on the Valeriano Copper-Gold Project located in Chile's Atacama Region. The project sits within a mineral belt linking the El Indio High-Sulphidation Belt to the Maricunga Gold Porphyry Belt, an area hosting several copper-gold porphyry deposits at various development stages. Valeriano hosts an 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 reported in September 2025.

Phase VI First Drill Hole Results at B2B Zone

Drill hole ATXD25C, an infill hole testing the B2B Zone, intersected 164 metres of 2.72% copper equivalent starting at 1,558 metres downhole. Within this interval, the hole encountered 86 metres of 3.77% CuEq and 40 metres of 4.73% CuEq. The intercept is contained within a broader interval of 528 metres of 1.32% CuEq from 1,302 metres downhole. These results represent the highest-grade mineralisation encountered in the B2B Zone at Valeriano.

ATXD25C was re-entered from Phase V drilling, where it had previously intersected 8 metres of 2.26% CuEq starting at 1,558 metres. In Phase VI, drilling continued from 1,566 metres and extended an additional 320 metres to a final depth of 1,886 metres, ending in mineralisation. The hole was flattened to approximately 15 degrees using directional drilling, allowing it to drill sub-horizontally across the B2B Zone's width and confirm the zone's contacts.

The results exceed the average grade estimated within the tested area in the 2025 Mineral Resource estimate.

President and CEO Ben Pullinger stated:

"Phase VI is off to an exceptional start with the first hole of the programme returning the best drill results reported at Valeriano to date. These results further confirm the high-grade nature and continuity of mineralisation within the B2B Zone which we seek to expand and further delineate as a priority in Phase VI."

Six-Rig Drilling Programme Targeting B2B Expansion and New Discoveries

ATEX is operating six diamond drill rigs at Valeriano as part of the Phase VI programme, targeting approximately 25,000 metres of drilling. Operations commenced in late September, six weeks earlier than the Phase V programme. The drilling focuses on further defining the B2B Zone and testing for new high-grade breccia discoveries elsewhere in the system.

Seven drill holes beyond ATXD25C are currently in progress with assays pending. ATXD26B is testing the B2B Zone between drill holes ATXD26 and ATXD23A, examining the vertical extent of high-grade intercepts. ATXD26 previously intersected 68 metres of 2.02% CuEq within 356 metres of 0.98% CuEq, whilst ATXD23A intersected 152 metres of 2.12% CuEq within 342 metres of 1.52% CuEq. ATXD31 is testing a 300-metre extension of the B2B Zone to the north-northwest, and ATXD32 is testing approximately 65 metres north of ATXD23A to confirm high-grade mineralisation along strike.

Four holes are targeting new discovery areas. ATXD30, collared approximately 600 metres northeast of the B2B Zone, is testing B2B-like mineralisation. ATXD33 is testing an untested geophysical anomaly located approximately 400 metres southeast of the Valeriano Porphyry's southern extent. ATXD34 is testing a B2B-like target 130 metres east of the B2B Zone. All seven holes have assays pending, with results to be reported as received from the laboratory.

B2B Zone Characteristics and Resource Enhancement Potential

The B2B Zone is a breccia-hosted deposit within the larger Valeriano porphyry system. Breccia zones form when rocks are fractured and filled with mineral-bearing fluids, often concentrating metals in relatively compact volumes. The zone's high-grade nature and position closer to surface compared to deeper porphyry mineralisation makes it a priority target for continued drilling.

The ATXD25C results exceeded the grades estimated in the corresponding area of the 2025 Mineral Resource estimate, indicating potential to increase the grade currently estimated in the B2B Zone. The zone remains open in all directions.

Pullinger noted:

"Results to date continue to highlight the potential for an economically robust, conceptual starter operation closer to surface, as well as strong evidence for further Mineral Resource expansion."

The Phase VI programme includes testing of multiple B2B-like targets beyond the known zone boundaries. The broader Valeriano system hosts a mineral resource totalling approximately 2 billion tonnes across Indicated and Inferred categories. The current drilling aims to expand the known B2B Zone dimensions whilst testing for additional high-grade breccia zones within the porphyry system.

Upcoming Milestones

The six-rig Phase VI programme is fully operational with assay results expected as they are received from the laboratory. Pending assays include the final 56 metres of ATXD25C and results from seven additional drill holes currently in progress. The company expects to deliver results in the coming weeks.

ATEX plans to incorporate drilling data from Phase V and Phase VI campaigns into a future mineral resource update. The Phase VI programme continues to test both B2B Zone expansion and new discovery targets, with approximately 25,000 metres of drilling planned. The company reports that drilling within the B2B Zone and in adjacent areas remains a key objective of the Phase VI programme.

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