Drilling Progress at Valeriano Copper-Gold Mine in Chile

ATEX Resources Inc. announced that the sixth hole (ATXD28) of Phase 5 drilling at its Valeriano copper-gold mine in the Atacama Region of Chile intersected ore over 1,000 meters.

The specific intersection details are as follows:

Hole ATXD28 intersected 1,090 meters of ore at a depth of 834 meters, with a copper equivalent grade of 0.81%, comprising 0.56% copper, 0.32 g/t gold, 1.8 g/t silver, and 0.0057% molybdenum.

This includes mineralization with a thickness of 88 meters and a copper equivalent grade of 1.03% (0.78% copper, 0.35 g/t gold, 2.4 g/t silver, and 0.0018% molybdenum), as well as a thickness of 281 meters and a copper equivalent grade of 0.93% (0.55% copper, 0.53 g/t gold, 3.3 g/t silver, and 0.0004% molybdenum).

Hole VALDD13-014, located 160 meters south of the ATXD hole, intersected 272 meters of ore with a copper equivalent grade of 0.93% (0.72% copper, 0.28 g/t gold, 1.52 g/t silver, and 0.0021% molybdenum).

Hole ATXD24, located 170 meters south of the ATXD hole, intersected 670 meters of ore with a copper equivalent grade of 0.84% (0.60% copper, 0.24 g/t gold, and 0.011% molybdenum).

The orebody remains uncontrolled along strike to the southeast and north-west China.

The analysis results of other drilling samples from Phase 5 will be completed in July. The company will update its resource estimates in the second half of 2025 (H2).

The company hopes to commence Phase 6 drilling as early as September.

To date, nine holes have been completed in Phase 5 drilling, with a total footage of 16,600 meters.