ATX.TO · 2026-08-26 12:00:00

ATEX Reports Final Phase VI Assays Extending B2B Breccia Approximately 200m South in Hole ATXD19A; ATXD19B Ended in 37m of 1.72% CuEq Mineralization Expanded Beyond B2B Breccia to the North and Eastern B2B Extent Better

Drill Results Corporate Updates

ATEX Reports Final Phase VI Assays

Extending B2B Breccia Approximately 200m

South in Hole ATXD19A; ATXD19B Ended in

37m of 1.72% CuEq

Mineralization Expanded Beyond B2B Breccia to the North and Eastern B2B Extent Better

Defined; ATEX also Identified New Porphyry Targets

Phase VII to Advance Multiple High-Priority Targets Ahead of Updated Mineral Resource in 2H

2027

Toronto, Ontario--(Newsfile Corp. - August 26, 2026) -

ATEX Resources Inc. (TSX: ATX) (OTCQX:

ATXRF)

ATEX

" or the "

Company

") is pleased to announce the final set of assay results for its Phase

VI drill program, concluding the campaign at the Valeriano Copper-Gold Project ("

Valeriano

" or the

Project

"), located in the Atacama Region, Chile. ATEX plans to begin its Phase VII drill program shortly

with more details to be provided closer to program commencement.

Drilling highlights include:

Final Phase VI drill results expanded the high-grade B2B breccia strike length

approximately 200 metres to the south where it remains open for further growth and

follow-up in Phase VII.

Further defined the B2B breccia limits to the north and east

and

highlighted expansion

potential to the north

beyond B2B in mineralized rhyolite.

New porphyry vectors were identified north and south of B2B,

including porphyry-style

alteration, copper mineralization and quartz veining

more than 400 metres north of the known

system,

supporting the potential for

continued exploration success beyond currently drilled

areas.

Multiple high-priority follow-up targets

will be advanced in the

upcoming Phase VII drill

program.

Key drill hole highlights are summarized in the table below, with full technical context provided in the

Technical Highlights section.

Table 1 - Drill Hole Highlights

Drill holes

Key Intervals

Highlights and Interpretations

ATXD19A0F

64m of 1.01% CuEq

228m of 0.84% CuEq

Extended B2B breccia approximately 200m south and increased the interpreted strike

length by approximately 50%.

ATXD19B

37m of 1.72% CuEq

446m of 0.74% CuEq

Wedged from ATXD19A, ended in mineralization and remains a priority Phase VII follow-

up target.

ATXD25E

20m of 1.70% CuEq

294m of 1.05% CuEq

884m of 0.79% CuEq

Further refined the interpreted true width of the B2B zone while extending known limits to

the east.

ATXD31B1F

10m of 2.22% CuEq

118m of 0.87% CuEq

543m of 0.82% CuEq

Defined the northern B2B margin and identified a 150m wide mineralized zone further

north, highlighting expansion potential.

ATXD31C

48m of 1.16% CuEq

528m of 0.75% CuEq

Further defined the northern geometry of B2B with potential for continued mineralization

at depth.

ATXD37

42m of 0.50% CuEq

New northern porphyry exploration vector more than 400m north of B2B suggests potential

proximity to a porphyry centre.

ATXD39A

36m of 0.39% CuEq

Supports southern extension potential of the Valeriano system.

Notes:

Copper equivalent ("CuEq") values and constituent metal grades are summarized from Table 2.

ATXD19A: 64m of 1.01% CuEq: 0.66% Cu, 0.29 g/t Au, 1.3 g/t Ag and 103 g/t Mo; 228m of 0.84% CuEq: 0.54% Cu, 0.23 g/t Au, 1.0 g/t Ag

and 129 g/t Mo.

ATXD19B: 37m of 1.72% CuEq: 0.93% Cu, 0.71 g/t Au, 4.2 g/t Ag and 2 g/t Mo; 446m of 0.74% CuEq: 0.45% Cu, 0.25 g/t Au, 1.6 g/t Ag and

23 g/t Mo.

ATXD25E: 20m of 1.70% CuEq: 1.08% Cu, 0.56 g/t Au, 3.1 g/t Ag and 12 g/t Mo; 294m of 1.05% CuEq: 0.63% Cu, 0.38 g/t Au, 2.5 g/t Ag and

17 g/t Mo; 884m of 0.79% CuEq: 0.52% Cu, 0.22 g/t Au, 1.6 g/t Ag and 46 g/t Mo.

ATXD31B: 10m of 2.22% CuEq: 1.36% Cu, 0.79 g/t Au, 3.2 g/t Ag and 3 g/t Mo; 118m of 0.87% CuEq: 0.45% Cu, 0.38 g/t Au, 1.5 g/t Ag and 6

g/t Mo; 543m of 0.82% CuEq: 0.54% Cu, 0.24 g/t Au, 1.5 g/t Ag and 46 g/t Mo.

ATXD31C: 48m of 1.16% CuEq: 0.68% Cu, 0.43 g/t Au, 2.2 g/t Ag and 11 g/t Mo; 528m of 0.75% CuEq: 0.51% Cu, 0.20 g/t Au, 1.2 g/t Ag and

55 g/t Mo.

ATXD37: 42m of 0.50% CuEq: 0.39% Cu, 0.06 g/t Au, 0.8 g/t Ag and 102 g/t Mo.

ATXD39A: 36m of 0.39% CuEq: 0.27% Cu, 0.09 g/t Au, 0.6 g/t Ag and 42 g/t Mo.

Chris Beer, Interim President and CEO, commented,

"The drill results announced today continue to

strengthen our understanding of the scale and geometry of the Valeriano mineralized system. At B2B,

drilling has further defined the breccia geometry, demonstrated continuity at depth, expanded the

known strike length to approximately 600 metres and delivered additional higher-grade intervals of

approximately 2% CuEq and above. We are also seeing mineralization extend beyond the B2B

breccia itself, including an approximately 150-metre true-width zone of mineralized host rock to the

north.

"Beyond B2B, we are encouraged by the presence of copper mineralization, strong alteration and

quartz veining characteristic of porphyry systems more than 400 metres north of the known B2B zone.

Combined with encouraging geological indications to the south, these results reinforce the potential

for the Valeriano system to extend well beyond the areas tested to date.

"Phase VI has given us a much stronger understanding of the architecture of Valeriano and,

importantly, a growing pipeline of targets for the upcoming Phase VII program. We expect to provide

additional details on our Phase VII objectives in the near future."

Figure 1. Long-Section of B2B and Porphyry Models

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6303/311660_f0c608e5543ceb82_001full.jpg

Figure 2. Long-Section of B2B and Porphyry Models with Pierce Points

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6303/311660_f0c608e5543ceb82_002full.jpg

Figure 3. Plan Map of Phase VI Drill Holes

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6303/311660_f0c608e5543ceb82_003full.jpg

Figure 4. Plan Map of Phase VI Collars

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6303/311660_f0c608e5543ceb82_004full.jpg

Table 2 - Summary Results for Final Phase VI Assays

Hole ID

From (m)

To (m)

Interval (m)

Cu (%)

Au (g/t)

Ag (g/t)

Mo (g/t)

CuEq (%)

ATXD19A

828

1,056

228

0.54

0.23

1.0

129

0.84

Incl.

852

916

0.66

0.29

1.3

103

1.01

And

1,218

1,464

246

0.45

0.17

1.1

114

0.67

Incl.

1,228

1,280

0.65

0.26

1.7

252

1.03

ATXD19B

1,287

1,733

446

0.45

0.25

1.6

0.74

Incl.

1,696

1,733

0.93

0.71

4.2

1.72

ATXD31B

1,303

1,846

543

0.54

0.24

1.5

0.82

And

1,862

1,980

118

0.45

0.38

1.5

0.87

Incl.

1,894

1,904

1.36

0.79

3.2

2.22

And

1,988

2,018

0.33

0.41

1.8

0.78

ATXD31C

1,320

1,848

528

0.51

0.20

1.2

0.75

Incl.

1,700

1,748

0.68

0.43

2.2

1.16

ATXD25E

1,210

2,094

884

0.52

0.22

1.6

0.79

Incl.

1,590

1,656

0.84

0.41

2.5

1.30

Incl.

1,626

1,646

1.08

0.56

3.1

1.70

And Incl.

1,672

1,966

294

0.63

0.38

2.5

1.05

ATXD37

1,570

1,612

0.39

0.06

0.8

102

0.50

And

1,716

1,770

0.25

0.05

0.6

105

0.35

ATXD39A

1,632

1,668

0.27

0.09

0.6

0.39

Notes

(1) CuEq was calculated using the metal recoveries assumed in the 2025 Mineral Resource Estimate, as described in the Valeriano Technical Report,

using the following formula: Cu (%) + 1.04991243188302 x Au (g/t) + 0.00824244819238401 x Ag (g/t) + 0.000357909627766355 x Mo (g/t).

(2) CuEq reported assuming metal prices of US$2,750/oz Au, US$3.80/lb Cu, US$27/oz Ag, and US$22/lb Mo.

(3) CuEq reported assuming recoveries of Cu 94%, Au 95%, Ag 80% and Mo 64%.

(4) Drill holes were composited at a cut-off of 0.3% CuEq.

(5) ATXD19B was wedged from ATXD19A, and paralleled ATXD19A from 1,287 to 1,464.2m at a distance of <3m.

(6) ATXD19A contained internal dilution of 4m for the 828m to 1,056m composite, 6m for the 1,218m to 1,464m composite and 2m for the 1,228m to

1,280m composite. ATXD19B contained internal dilution of 24m for the 1,287m to 1,733m composite. ATXD31B contained internal dilution of 8m for the

1,303m to 1,846m composite. ATXD31C contained internal dilution of 8m for the 1,320m to 1,848m composite. ATXD25E contained internal dilution of

20m for the 1,210m to 2,094m composite.

(7) True widths are unknown except where an interpreted true width is specifically stated.

(8) Drill holes ATXD30 and ATXD36 did not return any significant mineralized intervals based on the 0.3% CuEq cut-off used for the composites

reported in Table 2.

Technical Highlights

ATXD19A

reported final intersections including

64m of 1.01% CuEq

(0.66% Cu, 0.29 g/t Au, 1.3

g/t Ag, 103 g/t Mo) from 852m depth, and a broader interval of

228m of 0.84% CuEq

(0.54% Cu,

0.23 g/t Au, 1.0 g/t Ag, 129 g/t Mo) from 828m downhole.

ATXD19B

was wedged from ATXD19A

and drilled subparallel to it, intersecting

37m of 1.72% CuEq

(0.93% Cu, 0.71 g/t Au, 4.2 g/t Ag, 2

g/t Mo) from 1,696m downhole, and a broader interval of

446m of 0.74% CuEq

(0.45% Cu, 0.25

g/t Au, 1.6 g/t Ag, 23 g/t Mo) from 1,287m downhole and the hole ended in mineralization and

remains open for follow-up.

Tested the continuation of the B2B zone approximately 200m to the south at a similar

elevation, while also evaluating the continuity of the high-grade porphyry zone at depth.

ATXD19B intersected intermineral porphyry and associated contact hydrothermal breccia,

characterized by potassic alteration, chalcopyrite-dominant over bornite mineralization and

intense veining toward the bottom of the hole.

Mineralization remains open at depth and is expected to be followed up during Phase VII in

hole ATXD19B, which ended in mineralization grading 1.72% CuEq.

ATXD25E

intersected

20m of 1.70% CuEq

(1.08% Cu, 0.56 g/t Au, 3.1 g/t Ag, 12 g/t Mo) from

1,626m depth, within

66m of 1.30% CuEq

(0.84% Cu, 0.41 g/t Au, 2.5 g/t Ag, 10 g/t Mo) from

1,590m depth, and separately

294m of 1.05% CuEq

(0.63% Cu, 0.38 g/t Au, 2.5 g/t Ag, 17 g/t

Mo) from 1,672m downhole, within a broader interval of

884m of 0.79% CuEq

(0.52% Cu, 0.22

g/t Au, 1.6 g/t Ag, 46 g/t Mo) from 1,210m downhole.

This hole was designed to test the depth extent and better define the true width of the B2B

zone.

Intersected rock-milled breccia and associated intermineral porphyry, characterized by

potassic alteration and copper mineralization dominated by chalcopyrite with subordinate

bornite.

The results further refine the interpreted true width of the B2B zone while extending its known

limits to the east, providing additional definition of the zone's geometry and potential scale.

ATXD31B

intersected

10m of 2.22% CuEq

(1.36% Cu, 0.79 g/t Au, 3.2 g/t Ag, 3 g/t Mo) from

1,894m depth, within

118m of 0.87% CuEq

(0.45% Cu, 0.38 g/t Au, 1.5 g/t Ag, 6 g/t Mo) from

1,862m depth, and separately

543m of 0.82% CuEq

(0.54% Cu, 0.24 g/t Au, 1.5 g/t Ag, 46 g/t

Mo) from 1,303m downhole.

This hole was designed to test the northern and depth extensions of the B2B zone.

Intersected a broad transition from mineralized host rock characterized by potassic alteration

and chalcopyrite-dominant copper mineralization into the B2B zone, where mineralization is

characterized by chalcopyrite with subordinate bornite.

Importantly, drilling intersected a higher-grade interval of 10m of 2.22% CuEq, interpreted to

represent the B2B zone and characterized by coarse chalcopyrite-dominant veining with

subordinate pyrite within green-grey sericite alteration.

The results further define the northern margin of the B2B breccia while also identifying an

interpreted 150-metre true-width zone of mineralized rhyolitic host rock immediately to the

north, expanding the broader mineralized footprint in this direction.

ATXD31C

intersected

48m of 1.16% CuEq

(0.68% Cu, 0.43 g/t Au, 2.2 g/t Ag, 11 g/t Mo) from

1,700m depth and a broader interval of

528m of 0.75% CuEq

(0.51% Cu, 0.20 g/t Au, 1.2 g/t Ag,

55 g/t Mo) from 1,320m downhole.

This hole was designed to test the northeast extension of the B2B zone.

Similar to ATXD31B, the hole intersected mineralized host rock characterized by potassic

alteration and chalcopyrite-dominant mineralization with subordinate pyrite. At approximately

1,747 metres, drilling transitioned into intrusion breccias comprising rhyolite fragments within

an intermineral porphyry matrix, together with metre-scale rock-milled breccia intervals.

These intrusive and breccia units exhibit potassic alteration and chalcopyrite-dominant

copper mineralization with subordinate bornite.

Together with ATXD31B, the results further define the northern margin and geometry of the

B2B breccia, supporting an interpreted east-west to west-northwest trend while indicating

potential for continued mineralization at depth.

ATXD37

intersected

42m of 0.50% CuEq

(0.39% Cu, 0.06 g/t Au, 0.8 g/t Ag, 102 g/t Mo) from

1,570m downhole.

This hole was designed to test the northern extent of the broader porphyry system, targeting

a high-velocity ambient noise tomography ("ANT") anomaly beyond the currently defined B2B

zone.

Intersected mineralized rhyolite characterized by green sericite alteration overprinting a

potassic alteration background, with chalcopyrite-dominant mineralization and subordinate

pyrite, accompanied by A-type and B-type quartz veinlets.

Significantly, the presence of porphyry-style alteration, mineralization and veining more than

400 metres north of the known B2B zone suggests potential proximity to a porphyry centre,

either at depth or laterally, and highlights the exploration potential beyond the currently

defined mineralized footprint.

ATXD39A

intersected

36m of 0.39% CuEq

(0.27% Cu, 0.09 g/t Au, 0.6 g/t Ag, 42 g/t Mo) from

1,632m downhole.

This hole was designed to test the broader continuity of the porphyry system and its potential

extension along the southern extent of the Valeriano system.

The mineralized interval occurs within the rhyolitic host rock and is characterized by pyrite

with subordinate chalcopyrite mineralization, phyllic alteration overprinting a potassic

alteration background, and A-type quartz veinlets. Importantly, the interval includes an 8-

metre rock-milled breccia zone characterized by chalcopyrite-dominant mineralization.

While a significant portion of the hole intersected lower grade mineralized intermineral

porphyry, the occurrence of stronger mineralization immediately beyond the contact with the

rhyolitic host rock provides additional geological information on the controls and distribution

of mineralization along the southern extent of the Valeriano porphyry system.

Quality Assurance and Quality Control

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 ("NI 43-101") and

is independent of the Company for purposes of Section 1.5 of NI 43-101.

Mineral Resource Estimate

The mineral resource estimate for Valeriano (the "

2025 Mineral Resource Estimate

") 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 (the

Valeriano Technical Report

"). The Valeriano Technical Report is available on ATEX's website at

www.atexresources.com

About ATEX

ATEX Resources is a mineral exploration company advancing its flagship Valeriano Copper-Gold

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