Atex Acquires Strategic 14,550 Hectare Surface Rights Package Surface Rights Substantially Cover Valeriano Project and Neighbouring Properties Significantly Expanded Exploration Portfolio Within an Emerging Copper District
Atex Acquires Strategic 14,550 Hectare
Surface Rights Package
Surface Rights Substantially Cover Valeriano Project and
Neighbouring Properties Significantly Expanded Exploration
Portfolio Within an Emerging Copper District
Toronto, Ontario--(Newsfile Corp. - September 23, 2025) -
ATEX Resources Inc. (TSXV: ATX)
(OTCQB: ATXRF)
("
ATEX
" or the "
Company
") is pleased to announce it has signed a binding
Purchase and Sale Agreement ("
PSA
") to acquire a significant strategic land package (the "
Property
")
unlocking key access and infrastructure advantages that support the continued advancement of the
Valeriano Copper-Gold Project ("
Valeriano
" or the "
Project
") located in the Atacama Region, Chile.
The Property, including associated water use rights, will be acquired (upon fulfillment of certain
conditions provided in the PSA) from an arm's length vendor, Sociedad Agrícola y Turística Cajón El
Encierro Limitada (the "
Seller
") for US$21 million (the "
Acquisition
"), payable on closing. Separately,
ATEX has added over 12,000 hectares of new exploration claims, to the west and east of the Project,
further expanding the Company's land position and increasing the opportunity for new discoveries in this
emerging district.
Highlights
Acquisition of surface rights covering approximately 14,550 hectares ("
ha
") extending from the
south of ATEX's Valeriano project to the north through Antofagasta Minerals' ("
AMSA
") El Encierro
copper-gold exploration project, and into Codelco's Torrente ("
Torrente
") copper exploration
project.
Creates an opportunity for ATEX to enhance collaboration and partnerships with neighboring
projects to grow and develop an emerging copper-gold district in Chile, situated 70 km to the south
of the Vicuña district.
ATEX now holds the surface rights required to advance Valeriano, reducing permitting risk and
providing long-term certainty for the development of future project infrastructure.
In addition to the surface rights, the Acquisition includes water rights that have the potential to
reduce costs for future exploration programs.
ATEX will retain existing land access agreements over the Property generating annual income for
ATEX and eliminating the Company's annual land access payments (approximately US$450,000
spent from 2021 to 2025).
Separately, ATEX has also increased its exploration footprint in the district through the addition of
new licenses covering 10,800 ha to the west ("
Juno
") of Valeriano and 1,920 ha to the east
("
Nueva
") (Figure 1).
ATEX's exploration footprint has grown over 300% to 16,515 ha from 3,795 ha in 2023.
The western claims additionally host a currently untested hyperspectral alteration anomaly
like those observed over Valeriano, Torrente and other projects in the region.
"Securing surface rights has historically been one of the most significant challenges to advancing
major mining projects globally, and Chile is no different,"
Ben Pullinger, President and CEO,
commented.
"By consolidating these rights early, we now have greater strategic flexibility and
operational agility to establish infrastructure for roads, water supply, exploration facilities and access
to the site, all within the Property's boundaries. This also presents an opportunity to build closer, more
collaborative relationships with local stakeholders and neighboring projects owned by major mining
companies while establishing ATEX in a stronger, more strategic role for potential future
collaboration. This Property is a valuable long-term asset for ATEX as it continues to explore, derisk
and grow the Valeriano Project. We have also staked new claims of over 12,000 hectares surrounding
our project, opening new exploration corridors and targets that could meaningfully increase the scale
of Valeriano."
Acquisition Presents an Investment Towards Shaping Collaboration of an Emerging Copper
District
The surface rights acquired from the Seller cover a significant area totalling approximately 14,550 ha
(see Figure 1). The Property measures over 25 kilometres in length and ranges between 5 to 10
kilometres in width covering the western portion of the Valeriano project and extends more than 7
kilometres beyond its southern border while also continuing north of the Project, over Antofagasta's El
Encierro project (Inferred Mineral Resource estimate of 522 million tonnes at 0.79% CuEq (0.65% Cu,
0.22 g/t Au, 74 ppm Mo at a 0.5% Cu cut-off grade))
i
and then further north into Codelco's Torrente
exploration project. All three of these projects are anticipated to see active exploration in the foreseeable
future with Antofagasta Minerals investing US$95 million to explore and derisk El Encierro over five
years according to its environmental impact application to the Chilean regulator
ii
. Securing these surface
rights is an important first step that facilitates future collaboration and partnerships as this district evolves
through more exploration and potential discovery.
Additionally, these surface rights include active land access agreements generating revenue for ATEX
and eliminating the Company's access fees which totaled approximately US$450,000 from 2021 to
2025. Select areas of this land package could also potentially be monetized in the future as
neighbouring projects evolve and surface rights for development and access are needed.
The Acquisition also includes important water use rights located north of the Property, which have the
potential to lower water sourcing and transportation costs for future drill programs, and reduce ATEX's
exploration costs per meter for the Project.
Figure 1. ATEX Expanding Footprint in an Emerging Copper District
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6303/267659_a97fd286842ebaf1_001full.jpg
Terms of Purchase for Acquisition
Under the terms of the PSA, ATEX will acquire the Property and associated water use rights for a total
purchase price of US$21 million, in cash payable on closing. At the time of executing the PSA, ATEX
had a cash balance of approximately C$50 million.
Closing Conditions
The Acquisition remains subject to certain closing conditions, including, but not limited to, the registration
of the Property and associated water use rights under ATEX's name in the Real Estate Registrar. This
registration confirms the Company's ownership and also that these assets are, free and clear of any
encumbrances or other limitation on ownership and use. These conditions, along with others, are
customary for a transaction of this nature in Chile.
New Juno and Nueva Claims Further Increase Valeriano Exploration Footprint
Separately from the Acquisition, ATEX has also increased its exploration footprint around its Valeriano
project through the addition of the Juno claims measuring 10,800 ha located to the west and the Nueva
claims measuring 1,920 ha and situated to the east. The Juno claims host a yet-to-be-tested
hyperspectral alteration anomaly, consistent with signatures seen at Valeriano, Torrente, and other
regional projects. The addition of these blocks increases the Company's exploration holdings to 16,515
ha, from 3,795 ha.
Analyst Webcast and Conference Call
Details of the Acquisition will be presented by Ben Pullinger, President and CEO of ATEX, in a webcast
conference call on September 24, 2025, at 8:00 am EST. Webcast and conference call details are
provided below.
Webcast / Conference Call Details:
Date: September 24, 2025
Time: 8:00 AM EST
Listen only webcast:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=MI7BYdBh
North American Dial In for Analyst Q&A: 1-866-807-9684
International Dial In for Analyst Q&A: 1-412-317-5415
Qualified Person
Mr. Ben Pullinger, P.Geo., registered with the Professional Geoscientists Ontario, a qualified person (as
defined by NI 43-101) has reviewed and approved of the other scientific and technical information
contained in this press release. Mr. Pullinger is not considered independent under NI 43-101 as he is
President and CEO of ATEX.
About ATEX
ATEX is exploring the Valeriano Copper-Gold Project which is located within the emerging copper gold
porphyry mineral belt linking the prolific El Indio High-Sulphidation Belt to the south with the Maricunga
Gold Porphyry Belt to the north, located in the Atacama Region, Chile. This emerging belt, informally
referred to as the Link Belt, hosts several copper gold porphyry deposits at various stages of
development including, Filo del Sol (Lundin Mining/BHP), Josemaria (Lundin Mining/BHP), Lunahausi
(NGEx Minerals), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick).
For further information, please contact:
Ben Pullinger,
President and CEO
Email:
Aman Atwal,
Vice President, Business Development and Investor Relations
Email:
1-647-398-9405
or visit ATEX's website at
www.atexresources.com
.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, including predictions, projections, and
forecasts. Often, but not always, forward-looking statements can be identified by the use of words such
as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates",
"forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation
of such words and phrases or state that certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any future results, prediction, projection,
forecast, performance or achievements expressed or implied by the forward-looking statements.
Such forward-looking statements include, among others: statements regarding the Acquisition, including
closing thereof and potential costs savings related thereto; statements regarding the consolidation of an
evolving and highly prospective new copper district; statements regarding collaboration and partnership
in this new district; statements regarding plans for the evaluation of exploration properties including the
Valeriano Copper Gold Project; the success of evaluation plans; the success of exploration activities
especially to the significant expansion of the high-grade corridor; mine development prospects; potential
for future metals production; changes in economic parameters and assumptions; all aspects related to
the timing and extent of exploration activities, including the Phase V and Phase VI programs
contemplated in this press release; timing of receipt of exploration results; the interpretation and actual
results of current exploration activities and mineralization; changes in project parameters as plans
continue to be refined; the results of regulatory and permitting processes; future metals price; possible
variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour
disputes and other risks of the mining industry; the results of economic and technical studies; delays in
obtaining governmental and local approvals or financing or in the completion of exploration; timing of
assay results; as well as those factors disclosed in ATEX's publicly filed documents.
Although ATEX has attempted to identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider has reviewed or
accepts
responsibility for the adequacy or accuracy of the content of this news release.
i
Source: Antofagasta plc, "Updated Mineral Resources",
https://www.antofagasta.co.uk/investors/news/2022/updated-mineral-resources
.
The QP
has been unable to verify the information and that the information is not necessarily indicative to the mineralization on the property that is the
subject of the disclosure.
ii
Source: Mining.com, "Barrick, Antofagasta to spend $95m exploring for copper in Chile",
https://www.mining.com/barrick-antofagasta-to-spend-
95m-exploring-for-copper-in-chile
.
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