ATEX Resources Reports High-Grade Results from Phase V Drilling at Valeriano Copper-Gold Project in Chile

The company's flagship Valeriano Project is located in Chile's Atacama Region and has demonstrated significant high-grade potential, positioning it as a strategic asset within the global copper and gold market.

ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") has announced partial assay results from drill hole ATXD23A, the first hole of its Phase V drilling campaign at the Valeriano Copper-Gold Project ("Valeriano" or the "Project") located in the Atacama Region, Chile. The drilling campaign, which commenced in mid-October 2024 with three diamond drill rigs, has now expanded to five rigs as of early January 2025.

Significant High-Grade Intersection

ATXD23A intersected 152.0 meters of 2.03% CuEq (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 meters of 1.48% CuEq (1.05% Cu, 0.47 g/t Au, 1.17 g/t Ag, and 272.38 g/t Mo) starting from 1,036 meters downhole and 700 meters below the valley floor at 3,800 meters above sea level.

The results confirm a 130-meter extension to the high-grade breccia mineralization intersected in drill hole ATXD261 during the Phase IV campaign, which had returned 68.0 meters of 2.02% CuEq within 356.0 meters of 0.98% CuEq.

The high-grade breccia zone currently has an estimated strike length of 400 meters and remains open in all directions.

ATXD23A was completed to a total depth of 2,042.1 meters, ending in mineralized Early Porphyry ("EP"), with assay results pending for the intervals between 856 meters to 1,036 meters and 1,378 meters to 2,042.1 meters.

Follow-Up Drilling Underway

Additional drill holes ATXD27A and ATXD23B are currently testing extensions to the high-grade breccia zone 140 meters along strike to the northwest and 100 meters up-dip, respectively.

Drill hole ATXD16B has also been completed to a length of 1,880 meters, with assay results expected in early February.

CEO's Statement

"ATXD23A exceeded our expectations and represents the best hole drilled at the Valeriano Project to date, even without the pending assays for the lower 664 meters," stated Ben Pullinger, President and CEO of ATEX Resources. "Our exploration efforts over the past four years have consistently increased the scale of this deposit. ATXD23A underscores Valeriano's potential to deliver exceptional high-grade results over significant intervals, reaffirming our belief that this project will emerge as one of the most significant recent copper-gold discoveries globally. We remain confident in the exploration potential of Valeriano and look forward to further updates as Phase V drilling progresses."

Future Plans:

ATEX Resources continues to advance its exploration initiatives, with further drilling aimed at identifying additional high-grade zones and evaluating potential nearby porphyry systems. The results from the ongoing Phase V campaign will contribute to an updated mineral resource estimate expected later this year.