ATEX Resources Inc. announced that is has completed drill hole ATXD-12A, the first hole, of its Phase IV drill campaign at the Valeriano Copper-Gold Project (?Valeriano? or the ?Project?) located in Atacama Region, Chile. Highlights include: Drill hole ATXD-12A targeting the Western Trend, intersected a 1,096 metre zone of copper mineralization from 906 metres downhole, including 638 metres of mineralized early porphyry (?EP?) from 1,267 metres (hole completed at 2,001 metres).

ATXD-12A confirmed the presence of EP along the Western Trend, 200 metres to the south of ATXD-11B (1,342.5 metres of 0.73% CuEq (0.46% Cu 0.31 g/t Au, 43 ppm Mo), reported March 30, 2023), where the Western Trend remains open along strike. Additionally, ATXD-12A expanded the Western Trend Porphyry contact by approximately 50 metres to the west. ATEX has also strategically added to its land position to the east of Valeriano, adding 2,700 hectares of new ground to the Valeriano property package.

ATEX is currently drilling with three drill rigs, testing for the extensions of the Western Trend and the strike extension of the Central High-Grade Trend. Complete assays for ATXD-12A are anticipated in mid-January. Phase IV Update: The Phase IV drill campaign had been planned to continue where Phase III left off with the intention to: Further expand the mineralized corridor defined to roughly 1km X 1 km X 1km in Phase III.

Further define and delineate the high-grade Central and West Porphyry trends. Test new targets along strike and to the east and west of the currently defined corridor. Three diamond drill holes are currently underway: ATXD-25 is being drilled from surface on the west side of the Valeriano Ridge.

This hole is being drilled east towards the Western Porphyry trend where it will test a corridor of potential mineralization associated with the Western Trend Porphyry and potentially the western contact of the porphyry. This target is assumed to have rough dimensions of 1 kilometre along strike, in excess of 500 metres wide and a kilometer of vertical extent, based on previous holes. Should ATXD-25 be successful, multiple daughter holes can be drilled out of it, testing strike and dip continuity of this target.

ATXD-17A is a daughter hole from ATXD-17 (1,160 metres grading 0.78% copper equivalent (?CuEq?) (0.53% Cu, 0.28 g/t Au and 70 ppm Mo), reported June 13, 2022, including 550 metres of 1.03% CuEq (0.69% Cu, 0.39 g/t Au and 70 ppm Mo)) and will be testing the vertical extent of the Central High grade trend as well as the eastern contact of the Western Trend Porphyry. ATXD-16A, a daughter hole being drilled to the west out of VAL-16 (historical hole intersecting 1,045 metres of 0.53% CuEq (0.39 Cu, 0.17 Au, 54 Mo)). This hole has been planned to test the eastern contact of the Central High-Grade Porphyry trend.

The first hole attempted in Phase IV was the continuation of ATXD-24 (670 metres of 0.84% Copper Equivalent ?CuEq? (0.60% Cu, 0.24 g/t Au & 101 ppm Mo), reported July 13, 2023, including 312 metres of 1.00% CuEq (0.73% Cu, 0.30 g/t Au and 77 ppm Mo)) which was suspended at a depth of 1,842 metres in EP within the Central Trend, at the end of Phase III. Multiple attempts to restart the hole were unsuccessful, with in hole complications finally resulting in the decision to exit the hole and move to a new one.

The mineralization intersected in ATXD-24 remains open to the east and other plans are being evaluated to follow up.