New High-Grade Mineralization At Valeriano Copper-Gold Project

TORONTO - ATEX Resources Inc. reported on the fifth and sixth holes from its Phase IV drill campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile. ATXD26 intersected 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) from 1,100 metres downhole, within longer intervals of 356.0 m of 0.98% CuEq (0.7% Cu, 0.29 g/t Au, 1.49 g/t Ag and 180 g/t Mo) and 978.0 metres of 0.75% CuEq (0.54% Cu, 0.21 g/t Au, 1.26 g/t Ag and 145 g/t Mo) from 586.0 meters. A high-grade, copper, gold and silver enriched low sulphidation epithermal system, overprinting existing mineralization has been intersected above the projected porphyry target in ATXD26 from 1,108m to 1,208m downhole. ATXD26 was drilled between the Central and Western Trends, and along the northwest striking high-grade trend from ATXD16A in the southeast to ATXD26 in the  northwest and remains open along strike. The overprinting high-grade epithermal mineralization is hosted in silicified breccias made up of clasts composed of wall rock and porphyry fragments including Early Porphyry (EP) fragments. This suggests the presence of mineralized EP below the current hole extents (hole concluded at 1,565.4m) and will be followed up in Phase V. The hole ended in grades of 1.5% CuEq and was terminated 400m above the planned depth. Mineralization intersected in ATXD26 is open at depth and along strike in both directions and is a priority for follow up in Phase V.

Additionally, ATXD17B ended at 1,254.0 metres and intersected 504.0m of 0.56% CuEq (0.42% Cu, 0.17 g/t Au, 0.96 g/t Ag and 51 g/t Mo). Sporadic high grades associated with chalcopyrite bearing potassic alteration were intersected in the upper part of the hole from approximately 800m to 1,200m indicates the potential to intersect mineralized EP below and along the southeast continuation of the high-grade mineralization intersected in ATXD16A (594m grading 0.92% CuEq (0.67% Cu, 0.32 g/t Au, 1.13 g/t Ag and 71 g/t Mo) within EP from 1,168m and 112m of 1.42% CuEq (1.01% Cu, 0.57 g/t Au, 2.06 g/t Ag and 46 g/t Mo) from 1,616m). ATEX is also pleased to announce it has received an additional CAD$2,170,000 in total proceeds from the exercise of common share purchase warrants.

"Hole ATXD26 exceeded our expectations and highlights the potential for more high-grade mineralization and provides first evidence for the presence of multiple overlapping systems yielding higher grades along the growing high-grade trend from ATXD16A through to ATXD26 representing a strike length of approximately 700m and open along strike in both directions, and at depth," stated Ben Pullinger, President and CEO. "Equally exciting is that our understanding of the shape and size of the Valeriano Porphyry system and higher-grade EP component has increased dramatically through the Phase IV program. All holes so far in Phase IV have continued to intersect significant mineralized intervals within the yet to be defined limits of the system. Additionally, this program continues to return the highest grades seen at the Project to date and provides an exciting springboard to launch from in Phase V."