Interview with Ben Pullinger, President & CEO of ATEX Resources Inc.

Our previous interview: https://www.cruxinvestor.com/posts/atex-resources-tsxvatx-resource-update-coming-after-exceptional-phase-five-drill-results-6808

Recording date: 25th September 2025

ATEX Resources (TSXV: ATX) has positioned itself as a leading copper development story following the successful completion of its resource update and a strategic $21 million land acquisition. The company's Valeriano project in Chile has achieved management's guidance target of 2 billion tons at 0.78% copper equivalent grade, with 24% of the resource now classified in the higher-confidence indicated category.

The resource achievement represents significant progress from the company's initial geological understanding. Through systematic drilling that expanded from 22,000 meters in 2023 to 51,000 meters currently, ATEX has evolved its geological model from a conceptual three-finger framework to a comprehensive understanding of a continuous granodioritic porphyry core representing nearly one billion tons, complemented by substantial wall rock mineralization.

Central to ATEX's development strategy is the B2B zone, which delivered 30 million tons at 1.36% copper equivalent grade within just one year of drilling. This higher-grade zone forms the foundation for a potential starter operation that could provide early cash flow and achieve payback periods of 2-3 years, addressing the capital intensity challenges typical of large-scale copper projects.

The company's $21 million acquisition of 14,500 hectares of surface rights eliminates critical development risks by providing complete control over surface access and water rights. This strategic investment removes permitting uncertainties and reduces operational costs, particularly for water procurement and trucking expenses.

ATEX has distinguished itself through exceptional exploration efficiency, achieving a discovery cost of half a penny per pound of copper in the ground—efficiency levels not observed since the early 1990s. This performance reflects both the deployment of advanced directional drilling techniques and the inherently well-behaved geological characteristics of the Valeriano deposit.

With over $20 million in cash and $52 million in callable warrants, ATEX maintains a strong financial position to execute its Phase 6 drilling program while benefiting from favorable copper market dynamics driven by global supply constraints and increasing electrification demand.

View ATEX Resources' company profile: https://www.cruxinvestor.com/companies/atex-resources-inc

Sign up for Crux Investor: https://cruxinvestor.com