Improved Thickness And Grades At Valerian Project

TORONTO – ATEX Resources Inc. reported on Phase VI drill hole ATXD26B, the second hole from the current campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile. Drilling commenced in September with six rigs operational on site and has already achieved over half of the 25,000 meters guided for Phase VI. While the drill program is advancing ahead of schedule, assay laboratory turnaround times continue to be longer than expected due to elevated seasonal demand across the industry.
“The continuation of drill results from ATXD26B has improved both the thickness and grades of the B2B breccia, reinforcing the continuity and growth potential of this high-grade zone,” said, Ben Pullinger, President and CEO. “The robustness of this high-grade system continues to be shown through repeated intersections of consistent, high-grade mineralization, underscoring its potential to support further resource growth. We now see a zone with approximate dimensions of 400 meters of strike, up to 200 meters in horizontal width and a vertical extent of 500 to 600 meters. We see potential to further add high-grade tonnes in the porphyry and other breccia targets at Valeriano. Our focus in 2026 is to aggressively advance these targets.”
ATXD26B, targeting the B2B Zone reported an additional 224 meters of assays, resulting in an intercept of 88 metres (m) of 2.70% copper equivalent (CuEq) (1.61% copper “Cu”, 0.99 g/t gold “Au”) within broader intervals of 186m of 2.13% CuEq (1.32% Cu, 0.72 g/t Au) and 448m of 1.50% CuEq (0.93% Cu, 0.51 g/t Au). Increase of 34m including 8% higher CuEq grade compared to previously reported 54m of 2.50% CuEq (1.58% Cu, 0.88 g/t Au); 40m and 7% CuEq grade increase compared to previously reported broader interval of 146m of 2.00% CuEq (1.30% Cu, 0.67 g/t Au) and 224m and 1% CuEq grade increase compared to previously reported broader interval of 224m of 1.52% CuEq (1.02% Cu, 0.49 g/t Au).
There has been a confirmation extension of the current limits of the B2B Zone by 100 meters down dip. Chalcopyrite and bornite mineralization with associated brecciation, characteristic of the B2B Zone was intersected from approximately 1,050m to 1,400m downhole, before entering well mineralized early porphyry associated with the high-grade trend until the end of the hole. Approximately 400m of assay results for ATXD26B are outstanding.
The Phase VI drill program has six diamond drill rigs currently active on site and has already achieved over half of the targeted 25,000 metres of exploration drilling prioritizing the high-grade B2B Zone and similar nearby high-grade breccia targets. Details of drill holes currently in progress as part of the ongoing exploration program are provided below. Assay results will be reported as they are finalized and received from the laboratory.
B2B Zone
ATXD31 is evaluating northwest lateral continuity at lower elevation within the B2B Zone, with potential to extend into the high-grade core of the porphyry system. Assays pending. ATXD32 is testing the B2B Zone approximately 70-80m north of ATXD23A, extending high-grade mineralization along strike. Assays pending. ATXD25D is testing the northwest strike extension of the B2B Zone in the upper part of the breccia system. In progress. ATXD26C is testing the northeast extent of the B2B Zone and southwest extent of a B2B-like target, “B3B”, approximately 175m northeast of drill hole ATXD25C. In progress.