ATEX Resources Grows High-Grade B2B Zone by 50% After Record Drill Program at Valeriano

• Phase VI drilled approximately 28,400 metres across six rigs, surpassing its 25,000 metre target and increasing total metres drilled by more than 70% compared with the previous phase.
• The high-grade B2B breccia zone expanded by 50%, now extending across approximately 600 metres of strike length, with drill results including 40 metres grading 4.83% copper equivalent.
• New mineralisation was identified up to 200 metres east and north of B2B, including a zone measuring approximately 150 metres in true width.
• Regional step-out drilling outlined porphyry style mineralisation across a 1.8 kilometre corridor.
• Phase VII drilling is set to begin in early October, targeting B2B extensions and the Nuevo Horizonte land package, ahead of an updated resource estimate expected in the second half of 2027.

ATEX Resources Inc. (TSX: ATX, OTCQX: ATXRF) is a Canada-based mineral exploration company advancing its Valeriano copper-gold project in the Atacama Region of Chile, a jurisdiction the company describes as one of the world's most prospective and mining friendly. Valeriano anchors a broader copper district and is positioned, according to the company, to contribute to future copper supply. The project holds an Indicated Mineral Resource of 475 million tonnes grading 0.88% copper equivalent and an Inferred Mineral Resource of 1,511 million tonnes grading 0.75% copper equivalent, as reported on September 23, 2025.

Record Phase VI Drilling Expands B2B Breccia by 50% Across Six Rigs

ATEX ran six drill rigs through Phase VI, completing approximately 28,400 metres of directional diamond drilling, exceeding the original 25,000 metre target and adding roughly 11,800 metres, or more than 70%, compared with the prior phase. Directional drilling and wedging, a technique where new drill paths branch off from existing holes rather than starting from surface, saved an estimated 12,000 metres of drilling, reducing costs and shortening timelines.

Drilling extended the interpreted strike length of the B2B breccia zone by 50%, from approximately 400 metres to approximately 600 metres, and confirmed continuity of grade at depth. The program also improved the company's understanding of how B2B connects to the underlying porphyry system.

Individual drill results included hole ATXD25C, which intersected 40 metres grading 4.83% copper equivalent within a broader 86 metre interval grading 3.84% copper equivalent, and hole ATXD23C, which returned 78 metres grading 3.03% copper equivalent. Copper equivalent, or CuEq, expresses the combined value of copper, gold, silver and molybdenum in a single grade. The broader mineralised footprint around B2B also expanded by approximately 200 metres to the east.

New Discoveries Point to Mineralisation Beyond B2B

North of B2B, drilling identified a zone of mineralised host rock measuring approximately 150 metres in true width, a measurement reflecting the actual thickness of mineralised rock rather than the length drilled through it at an angle.

Regional step-out holes intersected porphyry related mineralisation and alteration to the north and southeast of B2B, outlining an approximately 1.8 kilometre north-south corridor. The company stated this corridor remains open, meaning drilling has not yet reached its limits in either direction.

Interim President and CEO Chris Beer said:

"Rather than viewing B2B as a discrete breccia body, we now recognize a broader, high-grade mineralized footprint incorporating multiple breccia and porphyry phases, mineralized host rocks and high-grade zones."

Phase VII to Target B2B Extensions and Nuevo Horizonte Ahead of 2027 Resource Update

Phase VII drilling is expected to begin in early October, following a delay caused by record snowfall in the Atacama region. The program will prioritise extensions of the high-grade porphyry system beneath B2B and follow up on regional targets identified during Phase VI. ATEX stated it will provide further details on scope and specific targets closer to the start of drilling.

Nuevo Horizonte, a land package acquired earlier in 2026, expanded ATEX's total holdings by more than 50% to approximately 25,000 hectares. Environmental, social, geochemical and geophysical assessments are underway to advance this ground toward drill testing. According to the company, porphyry alteration at Nuevo Horizonte ranges in scale from comparable to Valeriano to potentially larger.

Interim President and CEO Chris Beer said:

"Phase VI has been a highly successful program that materially advanced Valeriano on several fronts."

Results from Phase VI, together with any findings from Phase VII, are expected to inform an updated Mineral Resource Estimate in the second half of 2027.

Milestones and Next Steps

Phase VI delivered record drilling volumes, a 50% increase in B2B strike length and evidence of mineralisation extending beyond the previously defined zone. Andrew Disipio was appointed Corporate Secretary effective September 1, 2026. Upcoming milestones include the start of Phase VII drilling in early October, continued assessment work at Nuevo Horizonte, and the updated Mineral Resource Estimate expected in the second half of 2027.

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