ATEX Resources Inc. announced the results of an updated independent Mineral Resource estimate for the Valeriano Project ("Valeriano" or the "Valeriano Project") located in Atacama Region, Chile. The updated Mineral Resource estimate was prepared in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") guidelines and National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). Drilling by ATEX commenced in 2021 and 18,029 metres of drilling has been completed by the Company to date over three phases.

Phase I drilling in 2021 targeted near surface oxide gold mineralization identified by previous operators and included 12 RC holes (ATXR01 through ATXR12) totaling 1,706.0 metres. Phase II drilling in 2022 targeted the deeper-seated copper-gold porphyry style mineralization and included three drill holes totaling 3,809.7 metres. Phase II achieved proof of concept on the presence of a high-grade porphyry trend and was completed in the first half of 2022.

Phase III drilling commenced in October 2022 and completed in May 2023 and included 8 diamond drill holes (four from surface and four daughter holes) totaling 12,513 metres with all holes intersecting significant Cu-Au related mineralization. The Phase III campaign was designed with the objectives of expanding the mineralized corridor through step out drilling along strike as well as exploring the continuity and geometry of the high-grade trend intersected in Phase II while looking to extend it along strike.