35% of Assays Remain Pending for Phase VI Program

ATEX Resources Inc. (TSX: ATX) (OTCQX: ATXRF) is pleased to announce additional drill results from the Valeriano Copper-Gold Project in the Atacama region of Chile, including complete results from holes ATXD23C, ATXD31A, and partial results from hole ATXD31B. Phase VI drilling totaled a record of approximately 28,400 meters, exceeding the initial 25,000m program target. Approximately 65% of assays have now been released for the Phase VI drill program with remaining results expected through July.

Chris Beer, Interim President and CEO commented, “These results continue to strengthen our confidence in the continuity of the high-grade B2B breccia and its relationship to the underlying high-grade porphyry system. Hole ATXD23C adds significant high-grade mineralization at the southern boundary of the currently defined B2B Mineral Resource, while holes ATXD31A and ATXD31B demonstrate that the system remains open to the north. Previously reported results from hole ATXD19A indicate that the B2B breccia extends approximately 180m to the south where follow-up drilling will resume in September with the continuation of hole ATXD19B as part of our Phase VII program.

Collectively, these results improve our understanding of the geometry, continuity and scale of the B2B breccia while reinforcing our interpretation that the highest-grade mineralization forms part of a much larger porphyry system with significant growth potential. Based on drilling completed to date, the B2B breccia has now been traced over approximately 600m representing a 50% increase from the previously interpreted 400m strike length. With several holes ending in mineralization and approximately 35% of Phase VI assays still pending, we believe there remains substantial opportunity to continue expanding both the high-grade B2B breccia and the broader Valeriano mineralized system.”

Highlights:

• ATXD23C intersected 20m of 4.10% CuEq (2.53% Cu, 1.39 g/t Au, 9.3 g/t Ag, 84.0 g/t Mo), within broader intervals of 78m of 3.03% CuEq (1.91% Cu, 0.99 g/t Au, 6.6 g/t Ag, 107.2 g/t Mo) and 124m of 2.65% CuEq (1.67% Cu, 0.86 g/t Au, 5.5 g/t Ag, 102.4 g/t Mo), representing some of the highest-grade intervals drilled at Valeriano.
  • Further defined the geometry of the high-grade B2B breccia, increasing confidence in its interpreted size, shape and volume.
  • Confirmed continuity between the high-grade B2B breccia and the underlying high-grade porphyry, reinforcing the interpretation of a larger, connected mineralized porphyry system.
  • Hole ended in mineralized porphyry, highlighting the potential to further expand both the high-grade B2B core and the underlying high-grade porphyry core.
• ATXD31A intersected 64m of 1.02% CuEq (0.52% Cu, 0.45 g/t Au, 2.3 g/t Ag, 3.5 g/t Mo) and including a broader interval of 84m of 0.96% CuEq (0.62% Cu, 0.30 g/t Au, 1.7 g/t Ag, 12.4 g/t Mo), confirming high-grade mineralization along the lower B2B Zone.
  • Demonstrates the potential to extend high-grade mineralization both laterally and at depth.
  • Strengthens confidence in the three-dimensional geometry of the lower B2B breccia while identifying opportunities for further expansion to the northwest and at depth.
• ATXD31B intersected 146m of 1.14% CuEq (0.70% Cu, 0.42 g/t Au), within a broader interval of 408m of 0.88% CuEq (0.58% Cu, 0.28 g/t Au), confirming thickness, continuity and northern extent of mineralization within the B2B system.
  • Further defined the northern margin of the B2B breccia while demonstrating continuity as the high-grade breccia transitions into the surrounding mineralized porphyry.
  • Hole ended in mineralized porphyry with assays pending, highlighting the potential to further expand the B2B system beyond the currently reported interval.

Figure 1. Long-Section of B2B and Porphyry Models^[i]

 Figure 2. Long-Section of B2B and Porphyry Showing Drill Hole Pierce Points^[ii]

 Figure 3. Plan Map of Phase VI Drill Holes^[iii]

Technical Highlights:

• ATXD23C intersected 20m of 4.10% CuEq (2.53% Cu, 1.39 g/t Au, 9.3 g/t Ag, 84.0 g/t Mo) within broader intervals of 78m of 3.03% CuEq (1.91% Cu, 0.99 g/t Au, 6.6 g/t Ag, 107.2 g/t Mo) and 124m of 2.65% CuEq (1.67% Cu, 0.86 g/t Au, 5.5 g/t Ag, 102.4 g/t Mo), from 1,236m downhole.
  • This hole was designed to test the shallower portion of the high-grade B2B breccia to improve confidence in its lateral continuity and interpreted geometry.
  • Intersected one of the principal mineralized diorite porphyry phases that hosts the high-grade copper-gold mineralization, characterized by strong potassic alteration with abundant chalcopyrite and bornite associated with elevated gold grades.
  • Demonstrated vertical continuity of the mineralized system by linking the high-grade B2B breccia with the underlying high-grade porphyry, reinforcing the interpretation of a single, connected mineralized system.
  • Further defined the geometry of the B2B breccia, increasing confidence in its interpreted size, shape and volume.
• ATXD31A intersected 64m of 1.02% CuEq (0.52% Cu, 0.45 g/t Au, 2.3 g/t Ag, 3.5 g/t Mo) and including a broader interval of 84m of 0.96% CuEq (0.62% Cu, 0.30 g/t Au, 1.7 g/t Ag, 12.4 g/t Mo), from 1,638m downhole.
  • This hole was designed to test the deeper part of the B2B zone and the north-western extent.
  • Intersected multiple porphyry phases with strong copper mineralization and intense potassic alteration along the contact with the surrounding host rock.
  • Confirmed an important geological control on high-grade mineralization, where an early porphyry intrusion into the surrounding host rocks created a brecciated contact that hosts elevated copper-gold grades.
  • Demonstrated that the structurally controlled high-grade zone remains continuous both vertically and laterally, supporting the potential for further expansion of the high-grade B2B system.
• ATXD31B intersected 146m of 1.14% CuEq (0.70% Cu, 0.42 g/t Au) within a broader interval of 408m of 0.88% CuEq (0.58% Cu, 0.28 g/t Au) from 1,438m downhole. The drill hole ended in mineralized porphyry with results from the remaining 174m pending.
  • This hole was designed to test the deeper part of the B2B breccia, similar to ATXD31A and define its northern-central limit.
  • Intersected a magmatic-hydrothermal breccia characterized by strong potassic alteration and abundant chalcopyrite-dominant copper mineralization, including localized intervals of secondary copper enrichment containing covellite and chalcocite.
  • The upper portion of the 408m interval comprises a broad rhyolite-hosted mineralized zone averaging 0.75% CuEq, demonstrating the continuity of mineralization beyond the high-grade B2B breccia into the surrounding porphyry system.
  • Further defined the northern margin of the B2B breccia and its transition into the surrounding mineralized host rocks, improving confidence in the interpreted geometry of the high-grade system.

Table 1 – Complete Results for ATXD23C, ATXD31A and Partial Results for ATXD31B

Phase VI Drill Program Update

Phase VI drilling has been successfully completed, exceeding the original 25,000m target with a record 28,400m drilled. The program included approximately 15,500m in the high-grade B2B Zone, 11,750m testing nearby high-grade breccia targets, and 1,025m on porphyry extensions. While drilling for the season is complete, 35% of assay results remain outstanding and will continue to be released as they are received and finalized from the laboratory through July. Details of drill holes completed this season, including holes paused for follow-up drilling during the next season, are provided below.

Table 2 – Progress of Remaining Drill Holes

Quality Control & Quality Assurance

Drill holes are collared with a PQ drill bit, reduced to HQ and, sequentially, to NQ as the drill holes progressed deeper. Drill core produced by the drill rigs was extracted from the core tubes by the drill contractor under the supervision of ATEX employees, marked for consistent orientation and placed in core boxes with appropriate depth markers added. Full core boxes were then sealed before being transported by ATEX personnel to the Valeriano field camp. Core at the field camp is processed, quick logged, checked for recovery, photographed, and marked for specific gravity, geotechnical studies and for assays. From camp, the core is transferred to a secure core-cutting facility in Vallenar, operated by IMG, a third-party consultant. Here, the core trays are weighed before being cut using a diamond saw under ATEX personnel oversight. ATEX geologists working at this facility double-check the selected two-metre sample intervals, placing the samples in seal bags and ensuring that the same side of the core is consistently sampled. Reference numbers are assigned to each sample and each sample is weighed. The core trays with the remaining half-core are weighed and photographed. Additionally, core logs are updated, and specific gravity and geotechnical samples are collected. The remaining core is stored in racks at the Company’s secure facility in Vallenar.

From Vallenar samples are sent to an ALS preparation facility in Copiapó. ALS is an accredited laboratory which is independent of the Company. The prepared samples were sent to the ALS assay laboratories in either Santiago, Chile or Lima, Peru for gold (Au-AA24), copper (Cu-AA62), molybdenum (Mo-AA62) and silver (Ag-AA62) assays as well as and multi-element ICP (ME-MS61) analysis. The QA/QC program consists of insertion rates of 6% for Certified Reference Material, 2% for certified ‘blank’ material and 2% duplication of pulp and coarse reject material. No data quality problems were indicated by the QA/QC program.

Qualified Person

Brad Ulry, P.Geo., has reviewed and approved the scientific and technical information in this news release. Mr. Ulry is the Chief Operating Officer of Dahrouge Geological Consulting Ltd., which has been retained by the Company to provide geological consulting services. Mr. Ulry is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects  and independent of the Company for purposes of Section 1.5 of NI 43-101.

Mineral Resource Estimate

The mineral resource estimate on Valeriano is supported by the technical report titled “Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile” and dated November 3, 2025 (with an effective date of September 23, 2025), which was prepared for ATEX by SRK Consulting (Canada) Inc. in accordance with NI 43-101.

About ATEX

ATEX Resources is a mineral exploration company advancing its flagship Valeriano Copper-Gold Project, located in the Atacama Region III of Chile, widely recognized as one of the world’s most prospective and mining-friendly jurisdictions. The Valeriano Project is emerging as one of the leading undeveloped copper assets globally and anchors an expanding, globally significant copper district. As such, it is well positioned to play an important role in meeting future demand amid increasingly constrained global copper supply. Valeriano currently has an Indicated Mineral Resource of 475 Mt at 0.88% CuEq (0.58% Cu, 0.25 g/t Au, 1.39 g/t Ag and 70.4 g/t Mo) and an Inferred Mineral Resource of 1,511 Mt at 0.75% CuEq (0.50% Cu, 0.20 g/t Au, 1.16 g/t Ag and 70.6 g/t Mo), as reported in the Company’s technical report entitled “Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile” dated November 3, 2025, and with an effective date of September 23, 2025.