ATEX Resources (ATX) investor relations material

Project overview and resource scale

• Valeriano is among the top 10 global undeveloped copper projects, with a 2025 mineral resource of 34 billion lbs CuEq and significant gold and silver by-products, with the system remaining open for expansion.

• The project covers a 25,000-hectare land package in a world-class copper district in Chile, surrounded by major mining companies and multiple porphyry targets.

• 2025 mineral resource estimate includes 0.48 Bt indicated at 0.88% CuEq and 1.51 Bt inferred at 0.75% CuEq, with high-grade zones such as B2B and porphyry core.

• High recoveries are achieved with conventional processing, with up to 95% for copper and gold, and premium concentrate grades.

• The project is fully funded for the next exploration phase, with strong support from cornerstone investors.

Exploration progress and upside potential

• Over 73,000 meters of drilling completed across six phases, with Phase VII commencing in fall 2026 and a resource update expected in 2H 2027.

• Drilling has consistently delivered high-grade intervals, with B2B breccia and porphyry zones showing grades over 1-4% CuEq across significant widths.

• The mineralized system is open in multiple directions, with new porphyry centers and step-outs identified, and only a fraction of the property explored.

• Nuevo Horizonte and other targets within the district show strong potential for additional discoveries.

• The project's current tested strike length is 1.4 km, with large areas still untested.

Market positioning and financials

• The company trades at a significant discount to peers, with an in-situ valuation of $0.01/lb CuEq versus a peer average of $0.08/lb, implying substantial re-rating potential.

• Market capitalization is C$925M with C$141M in cash as of June 2026, and a share price of C$2.46.

• Institutional investors include Agnico Eagle and Pierre Lassonde, holding significant stakes.

• Equity research consensus target price is around C$5.00 per share.