ATEX Drills New Highest-Grade Intercept in First Phase VI Drill Hole Hitting 164 Metres of 2.72% CuEq Including 40 Metres of 4.73% CuEq in the B2B Zone
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The most recent news, dated October 21, 2025, announces the initial results from the first drill hole (ATXD25C) of the Phase VI drill campaign at the Valeriano Copper-Gold Project. The hole intersected a record high-grade interval of 164 metres grading 2.72% Copper Equivalent (CuEq), which includes a core of 40 metres grading 4.73% CuEq. This intercept is within the high-grade B2B Zone. The CEO, Ben Pullinger, stated these are the best drill results reported at Valeriano to date and that they confirm the high-grade nature and continuity of the B2B Zone. The company is currently operating with six drill rigs as part of a planned 25,000-metre Phase VI program. Assays for an additional 56 metres of this hole are still pending.
This news is materially positive. It represents an exceptional start to the Phase VI drill program, which was only announced on October 1, 2025. The key points of impact are:
- Grade and Width Confirmation: The intercept of 164 metres of 2.72% CuEq is a significant improvement on previous "record" B2B Zone intercepts from the Phase V program, such as 152 metres of 2.12% CuEq (March 18, 2025) and 126 metres of 2.04% CuEq (June 9, 2025). This result strongly validates the company's geological model and its strategy of expanding this high-grade breccia zone.
- De-risking of Phase VI: As the first hole of a major 25,000-metre program, this outstanding result significantly de-risks the exploration thesis for the entire campaign. The market can now have a higher degree of confidence that further drilling in the B2B zone will yield similar positive results.
- Positive Momentum: This release builds on a series of positive developments in the preceding months, including a major resource update and the strategic acquisition of surface and water rights in September 2025. The company is demonstrating consistent and successful execution of its stated plans.
- Economic Implications: While still at an early stage, consistently hitting wide intervals of multi-percent copper equivalent mineralization significantly enhances the potential for defining a high-grade, economically robust underground mining core within the larger, lower-grade porphyry system.
The only mitigating factor is the standard disclaimer that the true width of the intersection is not yet known. However, the result is in line with the geometry of previous intercepts and strongly supports the company's exploration concept. This news should be very well-received by the market.
ATEX Resources Inc. is a Canadian mineral exploration company focused on its flagship Valeriano Copper-Gold Project in the Atacama Region of Chile. The project hosts a large copper-gold porphyry system. A key focus of recent exploration has been the delineation of a high-grade breccia zone within the porphyry, known as the "B2B Zone," and a high-grade porphyry core.
The project's scale was defined in a September 23, 2025 Mineral Resource Estimate (MRE), which outlined: * Indicated: 475 million tonnes at 0.88% CuEq. * Inferred: 1.5 billion tonnes at 0.75% CuEq.
Within this, the higher-grade zones are key value drivers: * B2B Zone (Indicated): 28.4 Mt at 1.36% CuEq. * High-Grade Porphyry Core (Indicated): 118 Mt at 1.07% CuEq.
The company has progressed from Phase IV to Phase V, and now Phase VI drilling, consistently expanding the known mineralization, which remains open in multiple directions. The significant depth of the high-grade mineralization (often >1,000 metres) suggests an underground mining operation.