ATEX Resources Delivers Record Results from Phase V Programme at Valeriano Project

• Phase V programme achieved all strategic objectives, completing 16,600 metres of diamond drilling while saving 9,200 metres through innovative directional drilling technology
• High-grade B2B Zone significantly expanded from a single intercept to approximately 500 metres strike length with grades exceeding 2% copper equivalent (CuEq)
• High-grade porphyry trend extended by over 200 metres to approximately one kilometre in length, remaining open for further expansion
• Company received CAD$9.75 million from warrant exercises, strengthening balance sheet for continued exploration
• Updated Mineral Resource Estimate expected by end of 2025, incorporating improved metallurgical recoveries and results from Phase IV and V programmes

ATEX Resources Inc. (TSXV: ATX) is a mineral exploration company focused on developing copper-gold assets in Chile. The company's primary asset is the Valeriano Copper-Gold Project, located in Chile's Atacama Region within a copper-gold porphyry belt that hosts multiple projects at various development stages. ATEX has been systematically advancing Valeriano through multi-phase drilling programmes aimed at defining and expanding the mineral resource base.

The company operates in a region known for significant copper-gold discoveries, positioning itself within an established mining jurisdiction with supportive infrastructure. ATEX's exploration strategy focuses on expanding known mineralisation zones while identifying new high-grade targets through systematic drilling and geological analysis. The Valeriano Project hosts an inferred mineral resource of 1.41 billion tonnes grading 0.67% copper equivalent, providing a substantial foundation for continued exploration activities.

Completion of Phase V Drill Programme

ATEX successfully completed its Phase V drill programme, marking the largest and most successful exploration campaign in the company's history at Valeriano. The programme achieved approximately 16,600 metres of directional diamond drilling, representing a 38% increase from the 12,000 metres completed in Phase IV. Through the implementation of innovative directional drilling techniques, ATEX saved approximately 9,200 metres compared to conventional drilling methods, significantly enhancing programme efficiency.

The campaign deployed five drilling rigs, an increase from three rigs used in Phase IV, enabling accelerated progress across multiple target areas. The programme successfully met all stated strategic objectives, including delineating the high-grade B2B breccia zone, extending the high-grade porphyry trend, and testing the broader porphyry footprint through infill and step-out drilling.

Ben Pullinger, President and CEO, commented: "The results from our Phase V drill program represent the best we've ever seen at Valeriano, delivering exceptional copper and gold grades and confirming the scale and continuity of the system." The programme completed nine full drill holes and established four partial holes that will be completed during the upcoming Phase VI programme.

Key High-Grade Drill Results and Mineralisation Expansion

The Phase V programme delivered exceptional drill results that significantly expanded the known mineralisation at Valeriano. The B2B Zone, previously identified from a single intercept at the end of Phase IV, was confirmed and substantially expanded to a strike length of approximately 500 metres. This high-grade breccia zone has been traced approximately 200 metres closer to surface, with its upper contact now positioned at a depth of 400 metres below the valley floor.

Notable drill results include ATXD23A, which delivered a record-breaking intercept of 152 metres at 2.12% CuEq within a broader interval of 342 metres at 1.52% CuEq. Hole ATXD25A intersected 16 metres of 6.36% CuEq within a broader interval of 108 metres at 1.69% CuEq, representing the highest-grade intersection encountered in mineralised porphyry. This result extended the high-grade trend by 200 metres to approximately 1,000 metres in length.

The programme also confirmed extensive mineralisation continuity through hole ATXD28, which intersected 1,090 metres at 0.81% CuEq, and ATXD29A, which targeted the B2B Zone and intersected 36 metres grading 3.05% CuEq within a broader interval of 536 metres at 1.04% CuEq. These results demonstrate the robust nature of the mineralised system and provide strong foundation for resource expansion.

Capital and Financial Strengthening

ATEX strengthened its financial position through the exercise of 7.5 million common share purchase warrants that expired in July 2025. The warrant exercises generated CAD$9.75 million in proceeds at an exercise price of CAD$1.30 per share, providing additional capital to support continued exploration activities. The warrants were exercised by long-term core shareholders, demonstrating strong insider confidence in the project's prospects.

The warrant exercises were completed by existing long-term core shareholders of ATEX, with the warrants priced at CAD$1.30 per share. The CAD$9.75 million in proceeds provides additional working capital as the company prepares for its Phase VI programme. The company has indicated that Phase VI will include continued drilling activities alongside environmental baseline studies, early-stage engineering studies, and permitting activities for future drill campaigns.

Next Steps and Resource Update Timeline

ATEX is advancing towards Phase VI programme commencement, expected in September 2025. The Phase VI programme will focus on four strategic objectives: further delineation and growth of the high-grade B2B Zone, exploration for additional high-grade breccia targets to the north and new regional targets, continued expansion of the Valeriano Porphyry system where limits remain unknown, and ongoing project de-risking through environmental studies and early-stage engineering work. The company expects to release an updated Mineral Resource Estimate by end of 2025, incorporating results from both Phase IV and Phase V programmes totalling approximately 28,600 metres of drilling, along with improved metallurgical recoveries from recent test work programmes.

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