ATEX Resources Inc. has completed its largest exploration program to date at the Valeriano copper-gold project in Chile's Atacama Region, delivering approximately 28,400 metres of directional diamond drilling that extended the high-grade B2B breccia strike length by 50% to approximately 600 metres.

The Phase VI campaign exceeded the company's original 25,000-metre target and delivered an increase of more than 70% over the previous Phase V program. By utilizing directional drilling and wedging from existing parent holes, the company saved approximately 12,000 metres of drilling, which reduced surface disruption and lowered operating costs.

Drilling highlights from the campaign included hole ATXD25C, which intersected 40 metres grading 4.83% copper equivalent within an 86-metre interval of 3.84% copper equivalent. Hole ATXD23C returned 78 metres of 3.03% copper equivalent, including a 20-metre section grading 4.10% copper equivalent at the southern boundary of the breccia. Meanwhile, hole ATXD26B intersected 186 metres of 2.15% copper equivalent within a wider 887-metre interval of 1.06% copper equivalent.

Step-out drilling during the campaign expanded the broader mineralized footprint approximately 200 metres to the east and identified porphyry-related alteration across a 1.8-kilometre north-south corridor.

“Phase VI has been a highly successful program that materially advanced Valeriano on several fronts. We completed approximately 28,400 metres of drilling, exceeding our original 25,000-metre target, while significantly expanding and improving our understanding of the high-grade B2B zone.” — Chris Beer, Interim President and CEO

The work builds upon a multi-phase resource expansion at Valeriano. In September 2020, an initial inferred resource estimate for the porphyry deposit declared 297.3 million tonnes at 0.59% copper. By September 2025, an updated Mineral Resource Estimate expanded the deposit scale to 475 million tonnes at 0.88% copper equivalent in the indicated category and 1,511 million tonnes at 0.75% copper equivalent in the inferred category.

To fund ongoing delineation, ATEX closed an upsized bought deal financing of C$110 million in November 2025 and subsequently collected approximately $52.5 million from warrant exercises in February 2026, leaving the company with a cash balance of approximately $140 million. Following seasonal snowfall in the region, the company expects to commence the Phase VII drill program in early October 2026 to target further breccia extensions and regional prospects ahead of an updated Mineral Resource Estimate scheduled for the second half of 2027.

Read the full announcement: ATEX Record Phase VI Program Expands the High-Grade B2B Breccia Strike by 50% and Discovers New Mineralization Beyond B2B to the East and North