ATEX RESOURCES INC - ECRTF STOCK NEWS

ATEX Resources announced positive results from its second metallurgical program at the Valeriano Project in Chile. Key highlights include copper recoveries of 92-95% and gold recoveries of 90-97%. The program demonstrated that coarser grinding (from 120μm to 200μm) doesn't impact recoveries, which could reduce processing costs. Concentrate grades reached up to 33% Cu and 15 g/t Au, with negligible deleterious elements, making it highly marketable to global smelters.

The company tested three representative samples: High Grade Early Porphyry, Early Porphyry, and ATXD26 HG Composite from the epithermal zone. The Phase V drill program is currently underway with three rigs operational and a fourth being mobilized, with plans to add a fifth rig in January.

ATEX Resources has completed multiple significant transactions: a US$40 million strategic investment from Agnico Eagle Mines through a private placement of units at C$1.63, consisting of shares and warrants exercisable at C$2.50. The company also settled its US$15 million credit facility through unit and share issuances, and received a C$500,000 equity investment from board member Rick McCreary. Following these transactions, Agnico Eagle owns approximately 13% of ATEX's outstanding shares. The proceeds will fund exploration activities at the Valeriano Copper-Gold Project in Chile and general corporate purposes.

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.