Valerian Copper-Gold Project Phase Five Drill Campaign

TORONTO – ATEX Resources Inc. reported on the remaining assay results for drill hole ATXD29A, and assay results for ATXD25B and ATXD22D, representing the ninth and tenth drill holes from its Phase V drill campaign at the Valeriano Copper-Gold Project, located in the Atacama Region, Chile.

ATXD29A, intersected Early Porphyry, below the previously reported B2B interval, hitting 104 metres (m) of 1.06% copper equivalent (CuEq) (0.65% Cu, 0.59 g/t Au, 3.0 g/t Ag, 5 g/t Mo) within a broader interval of 568m of 0.86% CuEq (0.55% Cu, 0.43 g/t Au, 2.5 g/t Ag and 7 g/t Mo) starting at 1,366m downhole. The high-grade trend remains open to the north-northwest and represents an opportunity for further extension in Phase VI.

ATXD25B, intersected 199m grading 0.71% CuEq (0.51% Cu, 0.27 g/t Au, 1.9 g/t Ag, 8 g/t Mo) within a broader interval of 539m of 0.59% CuEq (0.45% Cu, 0.16 g/t Au, 1.1 g/t Ag, 51 g/t Mo) from 1,298m downhole where it targeted the northern most extent of the Valeriano Porphyry. From 1,337m downhole it intersected mineralized potassic alteration with chalcopyrite and bornite where it ultimately deviated beyond target parameters and was stopped short of the planned length.

ATXD22D intersected 132m of 0.84% CuEq (0.63% Cu, 0.18 g/t Au, 0.9 g/t Ag, 207 g/t Mo) from 948m downhole, and 210m of 0.75% CuEq (0.55% Cu, 0.21 g/t Au, 1.0 g/t Ag and 119 g/t Mo) from 1,304m downhole. Both intervals are included within a broader interval of 942m of 0.66% CuEq (0.50% Cu, 0.17 g/t Au, 1.0 g/t Ag and 88 g/t Mo) starting at 878m downhole. ATXD22D is an infill hole within the existing porphyry footprint targeting an under-drilled area located 215m east of high-grade hole VALDD13-014 (272m of 0.93% CuEq (0.72% Cu, 0.28 g/t Au, 1.52 g/t Ag, 21 g/t Moi) and 240m east of hole ATXD24 ((670m of 0.81% CuEq (0.60% Cu, 0.24 g/t Au, 101 ppm Moii) including 312.4m of 0.94% CuEq (0.73% Cu, 0.30 g/t Au, 77 ppm Mo)).

ATEX is also pleased to announce it has received CAD$9.75 million in total proceeds from the exercise of 7.5 million common share purchase warrants (“Warrants”) priced at $1.30. The 7.5 million Warrants exercised represents 50% of the Warrants expiring on July 11, 2025. The conversion of the remaining 7.5 million Warrants would add a further CAD$9.75 million to the Company’s treasury.

Ben Pullinger, President and CEO, said, “These latest results continue to demonstrate the scale and continuity of the high-grade porphyry corridor at Valeriano, while further extending mineralization to the north. Hole ATXD29A returned some of the best grades we’ve seen in this program and confirms the strength of the system beyond the previously drilled limits. As we reflect on a very successful Phase V campaign and look ahead to an updated Mineral Resource announcement and Phase VI commencement later this year, Valeriano is quickly emerging as one of the most significant undeveloped copper-gold projects in the Americas. We also extend our sincere appreciation to our shareholders for exercising their warrants and demonstrating continued confidence in the Company.”