Atex Resources Inc. · TSX:ATX
Atex Resources — Investor Presentation (September 2025)
42 slides from Atex Resources's investor presentation, September 2025
Slide 1: Valeriano Copper-Gold Project: A New Giant in Chile
VALERIANO COPPER-GOLD COPPER COPPER- PROJECT High Grade, Low-Discovery Costs: A New Giant in Chile September 2025 TSXV: ATX | OTCQB: ATXRF
Slide 2: Cautionary Statements
Cautionary Statements LEGAL DISCLAIMER FORWARD-LOOKING STATEMENTS AND INFORMATION The information contained in this presentation and other information furnished by or on behalf of ATEX Resources Inc. (“ATEX”) is confidential and has This presentation may contain statements that constitute “forward-l
Slide 3: A Large Scale, High-Grade Copper-Gold Project
A Large Scale, High-Grade Copper-Gold Project Significant and growing Mineral Resource with 2025 Indicated and Inferred Resource of 2.0 billion tonnes of copper-gold grading 0.78% CuEq1 Phase V (~16,600m) drill program delivered the highest-grades in ATEX history, which should support a meaningful M
Slide 4: Positioned for Long Term Growth & Performance
Positioned for Long Term Growth & Performance Low Risk Jurisdiction High Quality Explorer Uniquely Positioned Strong Share Returns • Chile is the world’s • Creating value through • Strategic and renowned • Leading share returns largest copper producer the drill bit investors include Agnico among exp
Slide 5: Joining the Giants Along the Porphyry Superhighway
Joining the Giants Along the Porphyry Superhighway Lundin / JX Metals Copiapó CASERONES ATEX owns 100% of the Valeriano Project PERU NGEx LOS HELADOS VICUÑA DISTRICT Teck / Newmont Discovery Early 2000s Located in the Huasco Province within the Huasco RELINCHO NGEx LUNAHUASI Lundin / BHP Atacama Reg
Slide 6: Exploration Highlights and Key Priorities
Exploration Highlights and Key Priorities Phase V Drill Program – Achieved Stated Objectives • 16,600m of innovative directional drilling, and saved 9,200m • Expanded high-grade B2B breccia zone 500m and traced 200m closer to surface B2B Zone core grading over 2% CuEq and remains open for explorat
Slide 7: 2025 Valeriano Mineral Resource Update
2025 Valeriano Mineral Resource Update Valeriano stands as Chile’s largest copper discovery of the past decade, rapidly advancing into a globally ranked copper-gold deposit in just four years, with its full potential still to be defined 2025 MRE Improvements: • Increased Confidence – 130% increase i
Slide 8: 2025 Mineral Resource Estimate – Size and Grade
2025 Mineral Resource Estimate – Size and Grade 475 Mt at 1.5 Bt at 2025 MRE by $ 0.88% CuEq 0.75% CuEq Silver, 2% Molybdenum, 5% Cu 6.1 Blbs 16.7 Blbs Gold, 28% Copper 0.58% Cu 0.50% Cu Copper, 65% Indicated Inferred Au 3.8 Moz 0.25 g/t Au 9.9 Moz 0.20 g/t Au Gold 2023 MRE by $ Ag 21.2 Moz 56.1 Moz
Slide 9: B2B Zone – Significant Growth Potential and New Discovery
B2B Zone – Significant Growth Potential and New Discovery 28.4 Mt at 2.6 Mt at 1.36% CuEq 1.05% CuEq Cu 0.6 Blbs 42 Mlbs Copper 0.95% Cu 0.74% Cu Indicated Inferred Au 0.3 Moz 0.33 g/t Au 23 koz 0.28 g/t Au Gold Ag 1.8 Moz 144 koz Silver 1.98 g/t Ag 1.74 g/t Ag High-grade and open for 0.1 kt expansi
Slide 10: High-Grade Porphyry Core – Continuing to Extend the Trend
High-Grade Porphyry Core – Continuing to Extend the Trend 118 Mt at 161 Mt at 1.07% CuEq 1.01% CuEq Cu 1.8 Blbs 2.2 Blbs Copper 0.68% Cu 0.63% Cu Indicated Inferred Au 1.3 Moz 0.35 g/t Au 1.7 Moz 0.34 g/t Au Gold Ag 6.6 Moz 9.7 Moz Silver 1.74 g/t Ag 1.88 g/t Ag 1,000m in defined length Mo 5.1 kt 6.
Slide 11: Valeriano – Largest Cu/Au Discovery in Chile Over Past Decade
Valeriano – Largest Cu/Au Discovery in Chile Over Past Decade Global Copper Discoveries 2013 – 2024 Chilean Copper Discoveries 2013 – 2024 14.00 13.00 30 12.00 Filo Del Sol 11.00 25 Valeriano 10.00 9.00 20 Copper (Mt) Kamoa Copper (Mt) 8.00 - Kakula 7.00 15 6.00 5.00 10 Valeriano 4.00 3.00 5 2.00 1.
Slide 12: Largest Copper Discoveries Since 2014
Valeriano – An Emerging New Major Discovery Globally Co. and Discovery Year Filo Del Sol (2016) Largest Copper Discoveries Since 2014 Kamoa-Kakula (2014) Valeriano (2022) 7.5 2.75 Western Foreland (2017) Encierro (2014) Cachorro (2015) Winu (2017) Copper (Mt) La Huifa (2014) Tatogga (Saddle) (2017)
Slide 13: Valeriano is High-Grade with Exceptional Cu-Au Recoveries
Valeriano is High-Grade with Exceptional Cu-Au Recoveries Reported CuEq Resource Grade vs. Copper Recovery1,2 100% Valeriano3 95% Copper Recovery (%) 90% 85% 80% 75% Bubble Size Represents Total CuEq (t) Resource 70% - 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 0.90% 1.00% Resource Grade (%) 1
Slide 14: Best in Class Cu/Au Recoveries and Concentrate Specifications
Best in Class Cu/Au Recoveries and Concentrate Specifications LONG SECTION - Facing 060 (NE) • Robust Copper and Gold Recoveries – Total copper and gold recoveries ranging from 4,500 92% to 95% and 90% to 97% • Marketable Concentrate Grades – Up to 33% Cu and 15 g/t Au, attractive to global smelters
Slide 15: 2025 MRE – Significant Increase in Value and Confidence
2025 MRE – Significant Increase in Value and Confidence 2023 MRE1 2025 MRE Change Copper-Gold Sulphide Copper-Gold Sulphide Inferred Indicated + Inferred Tonnes (Bt) 1.4 0.5 + 1.5 37% CuEq Grade 0.67% 0.88% / 0.75% Metres Drilled 22,000 51,000 132% Recoveries – Cu / Au 90% Cu / 70% Au 95% Cu / 94% A
Slide 16: Valeriano – Efficient Value Creation
Valeriano – Efficient Value Creation 8.6 Mt / JOSEMARIA 81 t/m 106,504m tonnes per metre (t/m) 15.2 Mt / LOS HELADOS 162 t/m 93,750m 47.7 Mt / FILO 238 t/m 200,486m 15.5 Mt / VALERIANO 303 t/m 51,000m 0 50 100 150 200 250 300 350 Notes: Metric tonnes are shown on a copper equivalent basis as per pub
Slide 17: A Growing Presence in an Emerging Porphyry District
A Growing Presence in an Emerging Porphyry District MULTI USE Valeriano and El Encierro projects are 6 km apart and both WATER RIGHTS host growing significant mineral resources EL ENCIERRO SURFACE RIGHTS (Antofagasta) ATEX Resources Inc. 522 Mt @ 0.79% CuEq Over 3 billion tonnes already defined alon
Slide 18: Valeriano is High-Grade and Growing
Valeriano is High-Grade and Growing Phase V – ATXD23A Phase V – ATXD23A Phase V – ATXD25A 152m of 1,220m of 30m of 2.12 % CuEq 0.91% CuEq 4.40% CuEq High-Grade Breccias (B2B) Continuous Mineralized Intervals High-Grade Porphyry 600 m Drill rig on ATXD16B 1.4 km mineralized strike length (open) Note:
Slide 19: Valeriano has Significant Technical and Regional Advantages
Valeriano has Significant Technical and Regional Advantages • 100% in Chile • Road access to the project • Potential for lateral EL ENCIERRO access from adjacent VALERIANO valley at 3,800 masl 4,400 masl • High-grade B2B Zone 3,800 masl 600m closer to surface with 3,650 masl starter mine potential 1
Slide 20: Phase IV & V – Shaping the Future of Valeriano
Phase IV & V – Shaping the Future of Valeriano • High grade breccia (“B2B Zone”) discovery sits atop the porphyry, close to valley floor Phase IV & V drilling totalling • B2B is a high-grade, structurally approximately 28,600m 2023 Resource controlled target with a 2.0%+ Mineralized Porphyry CuEq co
Slide 21: 2025 Valeriano Mineral Resource Update
2025 Valeriano Mineral Resource Update 2025 2023 Change Drilled 51,000 22,000 130% Metres (m) Metres 14,400 2,500 420% Saved (m) Metres Sampled 51,500 20,000 160% (m) CuEq (%) >1.2 MRE (Mt) 1,986 1,445 37% 2025 MRE >0.8 B2B Block Model High-Grade >0.5 31 - - Breccia (Mt) >0.3 High-Grade >0.1 279 200
Slide 22: High-Grade Domains Remain Open for Further Expansion
High-Grade Domains Remain Open for Further Expansion B3B Target CuEq (%) >1.2 B2B >0.8 Porphyry >0.5 >0.3 >0.1 RPEEE 0.3% Cu HG Core RPEEE Grade- Grade-Shell Grade 0.3% Cu Grade- Grade-Shell Grade 2025 MRE 0.3% Cu Extents Breccia Targets - Untested 3,100masl Level Plan – B2B Horizon 2,600masl Level
Slide 23: Looking Ahead to Phase VI – Exploring For More HG Breccias
Looking Ahead to Phase VI – Exploring For More HG Breccias ~1 km of underexplored ground between northern porphyry TORRENTE Codelco intersection and ATEX’s northern boundary Priorities for Phase VI include: • B2B expansion and delineation NORTH BLOCK ATEX • Test new breccia targets to the east and n
Slide 24: Integrating AI and a Proven Exploration Process
Intergrating AI and a Proven Exploration Process With the support of VRIFY’s AI software, 1.73 gigabytes of data was ingested: ● 33,857 drill assays ● 894 rock samples ● 520 soil samples ● 31 geophysics layers (including IP, airborne magnetics, and ground magnetics) ● 12 bands of Sentinel 2 imagery
Slide 25: Using AI as a Tool for Rapid Target Validation and Bias Removal
Using AI as a Tool for Rapid Target Validation and Bias Removal • A prospectivity map using VRIFY’s AI- Assisted Mineral Discovery Platform, DORA, highlights areas of high potential mineralization and expansion predicted from existing data • The algorithm being used continues to learn as other datas
Slide 26: New Tools Enhance Data Integration and Exploration Efficiency
New Tools Enhance Data Intergration and Exploration Efficiency GRIDDED GEOPHYSICAL EXTRACTED LINEAMENT STRUCTURAL COMPLEXITY PRODUCT MAP MAP Start with a magnetic RTP grid — a gridded Using proprietary algorithms, edges are detected Lineament density is then combined with line geophysical product no
Slide 27: Upcoming Milestones and Catalysts
Upcoming Milestones and Catalysts 2024 2025 Q1 – Q2 2024: January – July 2025: Phase IV drill results Phase V drill results Q2 2024: Strengthened management team and board October 2024: Agnico Eagle strategic Sep. 2025 – H2 2026: investment and Phase Phase VI drill results V program begins December
Slide 28: Strong Financial Position and Cornerstone Shareholders
Strong Financial Position and Cornerstone Shareholders Capital Structure (ATX-TSX.V – September 22, 2025) Equity Research Coverage Target Prices Share Price C$2.49 David Davidson $3.25 Shares Outstanding (M) 302 Bryce Adams $3.80 Market Capitalization (M) C$752 Stefan Ioannou $3.50 Cash on Hand (M)
Slide 29: ESG Strategy – Investing in Environment and Communities
ESG Strategy – Investing in Environment and Communities ATEX is committed to responsible exploration and derisking the project through ongoing environmental monitoring and proactively engaging with and involving communities and stakeholders • Continuous environmental monitoring since 2022 including
Slide 30: ESG Strategy – Community Engagement and Diversity
ESG Strategy – Community Engagement and Diversity DIVERSE WORKFORCE • 35% of ATEX’s workforce are women • 49% of ATEX's workforce is from the province of Huasco • 1/3 of ATEX board members are women PreparATEX – Professional Development of Locals • Second edition of PreparATEX in 2024, expanding off
Slide 31: A Management Team Broadening in Scope and Capability
A Management Team Broadening in Scope and Capability Ben Elijah Aman Dr. Felipe M. Dr. Christine Pullinger Tyshynski Atwal Pinheiro Rainaud President, CEO CFO and VP, Business General Manager Director of and Director Corporate Development and and Director of Exploration Secretary Investor Relations
Slide 32: A Strong Board with History of Discoveries and Value Creation
A Strong Board with History of Discoveries and Value Creation Craig Nelsen, Ben Pullinger, Alejandra Wood, Jamile Cruz, Chris Beer, Rick McCreary, Chairman President, CEO, Director Director Director Director Director • Geologist with over 40 • Geologist with over 20 • Over of 20 years of • Over 20 y
Slide 33: ATEX Purpose and Values
ATEX Purpose and Values What do we do? Safety Collaboration We are currently defining a copper and gold giant in Chile. We care about We create our people, mutual value communities, through and the meaningful Why do we do what we do? environment partnerships Contribute to the energy transition and s
Slide 34: ATEX Resources Inc. Contact
ATEX Resources Inc. 1001 – 360 Bay St., Toronto, ON, M5H 2V6 www.atexresources.com Ben Pullinger President and CEO bpullinger@atexresources.com Aman Atwal VP, Business Development and Investor Relations aatwal@atexresources.com VALERIANO COPPER-GOLD PROJECT: A New Giant High-Grade Discovery in Chile
Slide 35: Results Outline Scalable Deposit with High-Grade Optionality
Results Outline Scalable Deposit with High-Grade Optionality High-Grade Expanding High-Grade Multiple Continuously Mineralized Overprinting Breccia Core within Porphyry Intervals of > 0.3% Cu and ~1,000m long System – B2B Zone ATXD23AV ATXD11BIII ATXD16AIV ATXD17II 22m of 3.30 % CuEq ATXD16AIV ATXD1
Slide 36: Phase IV Drill Results
Phase IV Drill Results From To Interval Cu Au Ag Mo CuEq % CuEq % Notes: Hole ID Date (m) (m) (m) (%) (g/t) (g/t) (g/t) MRS(1,3) Met(2) 1. CuEq calculated using recoveries assumed in 2023 MRE (90% Cu, 70% Au, 80% Ag and 60% Mo) (See Company news dated September 12, 2023) using the formula stated bel
Slide 37: Phase V Drill Results
Phase V Drill Results CuEq % CuEq % Notes: Hole ID From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Mo (g/t) Date MRS(1,3) Met(2) 1. CuEq calculated using recoveries assumed in 2023 MRE (90% Cu, 70% Au, ATXD16B 1,044 1,824 780 0.56 0.23 0.9 90 0.76 0.81 80% Ag and 60% Mo) (See Company news date
Slide 38: Phase V Drill Results (Continued)
Phase V Drill Results (Continued) Notes: CuEq % CuEq % Hole ID From (m) To (m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Mo (g/t) Date MRS(1,3) Met(2) 1. CuEq calculated using recoveries assumed in 2023 MRE (90% Cu, 70% Au, 80% Ag and 60% Mo) (See Company news dated September 12, 2023) using the ATXD29A
Slide 39: Valeriano Mineral Resource Statement – September 2025
Valeriano Mineral Resource Statement – September 2025 Grade Contained Metal Tonnes Category Cut-off Grade Cu Au Ag Mo CuEq AuEq Cu Au Ag Mo CuEq AuEq (Mt) (%) (g/t) (g/t) (g/t) (%) (g/t) (Mt) (koz) (koz) (kt) (Mt) (koz) Measured - - - - - - - - - - - - - Indicated - - - - - - - - - - - - - Gold Oxid
Slide 40: Notes on Reported Exploration Results and QAQC Procedures
Notes on Reported Exploration Results and QAQC Procedures Notes on Drill Results • All intervals are reported as core lengths as the true lengths of the intervals are unknown at this time. • Copper Equivalent (CuEq) is calculated assuming US$ 3.15/lb Cu, US$ 1,800/oz Au, US$ 23/oz Ag, and US$ 20/lb
Slide 41: Cornerstone Strategic Partner
Cornerstone Strategic Partner C$55 million (US$40 million) strategic investment in ATEX by Agnico Eagle Mines, a leading senior miner with high quality assets and geopolitical profile “The investment in ATEX is consistent with Agnico Eagle's historical practice Extensive due diligence performed by A
Slide 42: R&D Partnership
R&D Partnership Our partnership with VRIFY goes beyond project work and extends to collaboration and testing across new products. ike the Cousteau Approach, to continue to improve discovery and push for more objectivity in mineral exploration. The Cousteau Approach is a workflow for predicting and m
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