Atex to acquire 14,550 ha in Chilean surface rights

Executive Summary

• Atex Resources Inc. signed a binding purchase‑and‑sale agreement to acquire ~14,550 ha of surface rights (including water rights) for US$21 million, securing critical access and infrastructure for the Valeriano copper‑gold project in Chile.
• The company simultaneously added 12,720 ha of new exploration licences (10,800 ha Juno claim to the west; 1,920 ha Nueva claim to the east), expanding its total footprint to 16,515 ha – a >300% increase from 2023.
• The acquisition eliminates annual land‑access payments of ~US$450,000 (2021‑2025) and provides revenue‑generating access agreements, while water rights may lower future exploration costs.

Key Details

• Purchase Price: US$21 million cash payable at closing.
• Seller: Sociedad Agricola y Turistica Cajon El Encierro Ltda., an arm’s‑length vendor.
• Cash Position at PSA Execution: Approximately CA$50 million.
• Surface Rights Area: ~14,550 ha spanning from the southern Valeriano boundary north through Antofac Minerals’ El Encierro project and into Codelco’s Torrente project.
• Water Use Rights: Included; expected to reduce water sourcing/transportation costs for future drill programs.
• Annual Land‑Access Income: Existing agreements generate revenue and eliminate prior access fees of ~US$450,000 (2021‑2025).
• Exploration Footprint Expansion:
• Juno claims – 10,800 ha to the west, hosting an untested hyperspectral alteration anomaly.
• Nueva claims – 1,920 ha to the east.
• Total holdings now 16,515 ha (up from 3,795 ha in 2023).
• Strategic Benefits: Reduces permitting risk, provides long‑term certainty for infrastructure development (roads, water supply, exploration facilities), and enhances potential collaboration with neighboring projects (Antofac Minerals, Codelco).
• Closing Conditions: Registration of surface and water rights under Atex’s name; assets must be free of encumbrances – standard Chilean transaction conditions.
• Analyst Webcast/Conference Call: September 24, 2025 at 8:00 a.m. EST (listen‑only webcast; dial‑in numbers provided).

Notable Quotes

“Securing surface rights has historically been one of the most significant challenges to advancing major mining projects globally… By consolidating these rights early, we now have greater strategic flexibility and operational agility to establish infrastructure… This property is a valuable long‑term asset for Atex as it continues to explore, derisk and grow the Valeriano project.” – Ben Pullinger, President & CEO

Materiality Assessment: Material – Positive (significant acquisition that materially improves project economics, reduces costs, and expands exploration potential).