ATEX RESOURCES INC - ECRTF STOCK NEWS

ATEX Resources has announced the grant of 2,290,870 incentive stock options to employees, including 1,474,650 to officers. The options allow holders to purchase ATEX common shares at $1.63 per share over a five-year period. Additionally, the company granted 422,098 restricted share units (RSUs) to directors, which will vest upon their departure from the Board. Both grants were made in accordance with the company's respective Stock Option and RSU Plans.

ATEX Resources announces a US$40 million strategic investment from Agnico Eagle Mines through a non-brokered private placement. Agnico will subscribe for approximately 33.9 million units at C$1.63 per unit, representing a 15% premium to the closing price. Each unit includes one common share and half a warrant. Additionally, ATEX will settle its US$15 million credit facility through equity issuance to lenders. Upon closing, Agnico will own approximately 13% of ATEX's shares. The proceeds will fund exploration activities at the Valeriano Copper-Gold Project in Chile and general corporate purposes.

ATEX Resources Inc. (TSXV: ATX) has announced the appointment of Rick McCreary to its Board of Directors, effective immediately. Concurrently, Dr. Raymond Jannas is retiring from the Board but will continue as a Strategic Advisor. Mr. McCreary brings over 35 years of experience in the mining industry, including capital markets, strategy, corporate development, and engineering.

Rick McCreary will be retiring from his role as Deputy Chair at TD Securities on November 29, 2024. His career includes positions at Gulf Canada, Noranda-Falconbridge Group, and Barrick Gold, where he led over US$1.5 billion in non-core asset divestitures. Mr. McCreary holds an MBA from McGill University and degrees in Geological Engineering from Queen's University.

ATEX Resources Inc. (TSXV: ATX) has announced its Phase V exploration plans for the Valeriano Copper-Gold Project in Chile, set to commence in October 2024. The program targets 20,000 meters of directional diamond drilling, focusing on:

1. Expanding the high-grade epithermal system above the porphyry horizon.
2. Defining and extending the high-grade trend within the porphyry body.
3. Large step-out drilling to expand the mineralized footprint.

The company aims to deliver an updated Mineral Resource Estimate in H2 2025, incorporating results from Phase IV and V drilling, improved metallurgical recoveries, and ongoing engineering studies. The program builds on the success of Phase IV, which yielded the highest grades at Valeriano to date, including 68.0 meters of 2.02% CuEq.

ATEX Resources announces assay results for partial drill holes ATXD25A and ATXD26A from its Phase IV drill campaign at the Valeriano Copper-Gold Project in Chile.

Highlights include: Confirmation of a new geological model, expanding the strike length of Early Porphyry units to 1.2km and width to 0.5km; a high-grade overprint event with ATXD26 intersecting 122.0m at 1.60% CuEq.

ATXD25A intersected 224.2m at 0.47% CuEq, paused due to early storms, to be continued in Phase V.

ATXD26A intersected 31.45m at 0.62% CuEq, also paused, to be continued in Phase V.

Phase IV concluded with promising results, setting a strong foundation for Phase V starting in H2 2024.

ATEX Resources announced the closing of a private placement where 337,837 common shares were issued at $1.48 each to newly appointed board member Chris Beer. The placement raised approximately C$500,000, aimed at funding the Valeriano Copper Gold Project and general working capital. This transaction is considered a related party deal under MI 61-101 but is exempt from formal valuation and minority approval requirements. The issued shares are subject to a statutory hold period of four months and one day.

CEO Ben Pullinger expressed confidence in the placement, highlighting the importance of Mr. Beer's alignment with existing shareholders and the positive impact on the Valeriano Project.

ATEX Resources announced the appointment of Chris Beer to its Board of Directors effective immediately. Beer, who will also serve as Chair of the Audit Committee, brings over 24 years of experience from RBC Global Asset Management.

Concurrently, Rob Suttie is retiring from the Board after serving since December 2018. Beer’s appointment includes the granting of 92,142 restricted share units, which will vest upon his continuous board membership over two years.

The company also announced a $500,000 private placement with Beer, involving the purchase of 337,837 common shares at $1.48 per share, pending approval.

On May 27, 2024, ATEX Resources announced the allocation of 498,487 restricted share units (RSUs) and 430,000 stock options to its officers, directors, and employees. Each stock option allows the holder to purchase one ATEX common share at $1.43 within five years, under the company's Stock Option Plan. Of the RSUs granted, 244,755 will vest over two years, and 253,732 will vest over three years under the company's Restricted Share Unit Plan. Additionally, ATEX received CAD$748,200 from the exercise of 2,121,000 common share purchase warrants between May 15 and May 24, 2024.

ATEX Resources has announced significant assay results from its Phase IV drilling at the Valeriano Copper-Gold Project in Chile. Drill hole ATXD26 intersected 68 meters of 2.02% copper equivalent (CuEq) within a broader 356-meter interval of 0.98% CuEq, and 978 meters at 0.75% CuEq. This marks the discovery of a new, high-grade, hydrothermal system above the projected porphyry target.

ATXD17B also showed promising results, intersecting 504 meters of 0.56% CuEq. The mineralization remains open in all directions, indicating significant potential for further resource expansion. The company received CAD$2.17 million from the exercise of warrants during this period.

The Phase IV program, totaling around 12,000 meters of drilling, has concluded early due to seasonal storms but showed substantial mineralized intervals. Phase V will commence in H2 2024, focusing on extending the high-grade trends identified.