ATEX Resources Resumes Phased Operations at Valeriano Copper-Gold Project

• Chilean regulatory authorities lifted the temporary suspension of project activities on April 16, 2026.
• ATEX completed an internal operational readiness review before commencing a phased return to work on April 20, 2026.
• Critical risk controls across logistics and drilling have been reinforced, and counselling services remain available for all personnel.
• The incident involved a contractor transporting road maintenance materials approximately 32 kilometres from the project site.
• Field activities are being reintroduced in a measured and coordinated manner, with further updates to be provided.

ATEX Resources Inc. (TSXV: ATX) (OTCQB: ATXRF) is a Canada-based exploration company focused on its Valeriano Copper-Gold Project in the Atacama Region of northern Chile. The project sits within an emerging copper-gold porphyry mineral belt, informally referred to as the Link Belt, which connects the El Indio High-Sulphidation Belt to the south with the Maricunga Gold Porphyry Belt to the north. A porphyry deposit is a large-scale mineral system typically associated with copper and gold mineralisation. The Link Belt hosts several such deposits at various stages of development.

Resumption of Operations Following a Temporary Suspension

ATEX temporarily suspended all activities at the Valeriano Copper-Gold Project on April 15, 2026, in compliance with Chilean regulatory requirements following a contractor fatality. The suspension allowed the relevant Chilean authorities to commence their review of the incident. That review was completed, and the suspension was lifted on April 16, 2026.

Prior to restarting, ATEX completed an operational readiness review to confirm that conditions were appropriate for a return to work. The company also took additional time before resuming activities to allow employees and contractors to support one another and their local community. ATEX noted the understanding and cooperation of its workforce and community partners during this period.

A phased return to work began on April 20, 2026. Field activities are being reintroduced in a measured and coordinated manner across logistics and drilling workstreams. The company has stated that further updates will be provided as appropriate.

Enhanced Safety Measures and Workforce Support

The health, safety and well-being of its employees, contractors and the communities in which it operates remains ATEX's highest priority. Before the phased restart, the company reinforced critical risk controls across its logistics and drilling activities. Enhanced support and counselling services were also maintained for all personnel and contractors during the suspension period.

Logistics and drilling are among the primary workstreams at the Valeriano Project. Reinforcing controls across both areas formed part of the company's operational readiness process, which was completed ahead of the April 20 restart. ATEX has confirmed that field activities will continue to be reintroduced in a measured and coordinated manner.

In addition to the operational preparations, ATEX took additional time before resuming work to allow its workforce and contractors to support one another and their local community. This interval was separate from the regulatory clearance issued on April 16. The company acknowledged the understanding and cooperation of its workforce and community partners throughout this period.

Incident Response and Community Engagement

The incident that led to the temporary suspension involved a contractor who was transporting road maintenance materials approximately 32 kilometres from the Valeriano Project site. Activities across the project were suspended in accordance with local regulatory requirements while the relevant Chilean authorities commenced their review. ATEX confirmed these details in its prior disclosure dated April 15, 2026.

The company extended its condolences to the family, friends and colleagues of the deceased. ATEX also acknowledged the support and efforts of employees, contractors and first responders during the incident and the period that followed.

ATEX issued two public disclosures within five days, on April 15 and April 20, keeping investors and stakeholders informed of the incident and the subsequent restart. The company has indicated that further updates will be issued as the phased return to operations progresses.

Milestones and Next Steps

With the phased restart underway, ATEX's immediate focus is on the coordinated return to full operations at Valeriano. Field activities, including logistics and drilling, are being reintroduced progressively, with the pace and scope of the restart to be communicated through further updates. ATEX has not indicated a specific timeline for returning to full operational capacity but has committed to ongoing disclosure as each phase advances.

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