ATEX Is Drilling with Six Rigs at Valeriano Targeting 25,000 Meters First Phase VI Drill Hole Completed in B2B Zone

Executive Summary

• ATEX Resources announces the launch of Phase VI, its largest exploration program to date at the Valeriano copper‑gold porphyry project in Chile, targeting ~25,000 m of directional diamond drilling.
• The program aims to expand and better define the high‑grade B2B Zone, test new B2B‑analogous breccia targets, and extend the limits of the broader Valeriano porphyry system while advancing engineering, hydrology, and permitting work to de‑risk future development.
• Phase VI begins six weeks earlier than the previous campaign, with six rigs on site, reflecting improved operational efficiency and a 50% increase in drill meters versus Phase V.

Key Details

• Drilling Scope: ~25,000 m of directional diamond drilling (≈50 % more meters than Phase V).
• Primary Objectives:
• Grow and delineate the high‑grade B2B Zone (currently 28.4 Mt Indicated @ 1.36 % CuEq; 2.6 Mt Inferred @ 1.05 % CuEq).
• Test new high‑grade breccia targets with similar geophysical signatures, located nearer the surface.
• Expand the Valeriano porphyry system (118 Mt Indicated @ 1.07 % CuEq; 161 Mt Inferred @ 1.01 % CuEq).
• Key Intercept Reference: Hole ATXD25C (Phase V) intersected ~200 m of additional B2B‑style mineralization within a 492 m interval, following an 8 m @ 2.26 % CuEq intercept.
• Operational Highlights:
• Six drilling rigs deployed; drilling commenced six weeks earlier than the 2024 Phase V schedule.
• Comprehensive QA/QC program with core handling, logging, and assay procedures overseen by ATEX staff and third‑party labs (ALS).
• Project De‑risking Activities:
• Baseline environmental monitoring expansion.
• Early‑stage engineering studies: hydrogeology, geotechnical, and infrastructure feasibility (secondary access road).
• Permitting work: DIA submission, exploration decline permitting, and underground access investigations.
• Qualified Person: Ben Pullinger, P.Geo., President & CEO (not independent under NI 43‑101).

Notable Quotes

“Phase V materially advanced our knowledge of Valeriano… Phase VI will build on this success seeking to grow and better define the B2B Zone, systematically testing additional targets for new high‑grade discoveries and continue to expand the limits of the Valeriano Porphyry system.” – Ben Pullinger, President & CEO

Materiality Assessment: Non‑Material – Positive (forward‑looking exploration plans without immediate financial impact).