New Record Intercept Drilled At Valeriano Copper-Gold Project

TORONTO - ATEX Resources Inc. reported on drill hole ATXD23A, the first hole from its Phase V drill campaign at the Valeriano Copper-Gold Project ("Valeriano" or the "Project") located in Atacama Region, Chile. Drilling commenced, with three diamond drill rigs, in mid-October 2024 and scaled up to five rigs in early January 2025.

ATXD23A intersected 152.0 metres of 2.03% CuEq(1,2) (1.52% Cu, 0.75 g/t Au, 0.83 g/t Ag and 40.93 g/t Mo) within a broader interval of 342.0 metres of 1.48% CuEq (1.05% Cu, 0.47 g/t Au, 1.17 g/t Ag and 272.38 g/t Mo) from 1,036 metres downhole and 700 metres below the valley floor at 3,800 metres. ATXD23A represents a 130-metre extension to the high-grade breccia mineralization intersected in ATXD261 at the end of Phase IV which had returned 68.0 metres of 2.02% CuEq (1.39% Cu, 0.60 g/t Au, 3.81 g/t Ag and 473 g/t Mo) within 356.0 metres of 0.98% CuEq (0.7% Cu, 0.29 g/t Au, 1.49 g/t Ag and 180 g/t Mo).

This target breccia zone hosts the highest-grade mineralization encountered at Valeriano to date and has a current estimated strike length of 400 metres and remains open in all dimensions. ATXD23A was completed to a length of 2,042.1 metres (1,527.1 metres from kick-off point) ending in mineralized Early Porphyry ("EP"), with assay results from 856 metres to 1,036 metres (less navigational drilling intersections) and 1,378 metres to 2,042.1 metres pending. Follow up drilling in holes ATXD27A and ATXD23B is currently testing extensions to the high-grade breccia zone 140 metres along strike to the northwest and 100 metres up-dip, respectively.

ATXD16B has also been completed to a length of 1,880 metres (1,052.8 metres from kick-off point) with assay results anticipated in early February.

"ATXD23A exceeded our expectations and is the best hole drilled on the Project to date even without the pending assays for the lower 664 metres. Furthermore, we believe it ranks among the best holes drilled worldwide so far this year," stated Ben Pullinger, President, and CEO. "Once again, our expectations of the exploration potential at Valeriano are being affirmed. Our exploration programs over the past four years have continually increased the scale of this deposit and now with ATXD23A, ATEX has demonstrated that the Valeriano system can deliver exceptional high-grade results over significant intervals. We continue in our conviction that Valeriano will prove to be one of the most significant recent copper-gold discoveries in the world, at a time when there is a scarcity of new quality projects. We recognize the strong potential for additional high-grade zones as we advance our drill programs with early indications of additional nearby porphyries likely in hiding. We eagerly anticipate sharing the ongoing Phase V results that will ultimately inform a subsequent mineral resource update that is planned for later this year."