ATEX Resources Inc. has commenced a 6,000 metre diamond drilling campaign at its Valeriano Copper Gold Project with two drill rigs currently targeting the Valeriano copper gold
porphyry deposit. The Valeriano deposit is located within a portion of the Frontal Cordillera which links the Maricunga gold porphyry belt to the north and the El Indio high-sulphidation belt to the south. This 120 kilometre long zone, referred to as the Link Belt, hosts a number of significant copper gold porphyry deposits including Filo del Sol (Filo Mining), Josemaria (Josemaria Resources), Los Helados (NGEX Minerals/Nippon Caserones Resources), El Morro (Teck Resources/Newmont), and El Encierro (Antofagasta/Barrick Gold). The Valeriano copper gold deposit currently hosts an inferred resource of 297.3 million tonnes grading 0.59% copper, 0.193 grams per tonne gold and 0.90 grams per tonne silver (0.77%
copper equivalent) at a cut-off grade of 0.50% copper. Contained metal totals 1.77 million tonnes copper, 1.84 million ounces gold and 8.62 million ounces silver for 2.30 million tonnes copper equivalent. See the September 29, 2020 ATEX release for further information regarding the Valeriano inferred resource estimate. Prior to ATEX's involvement in Valeriano, 26,847 metres had been drilled on the property during three campaigns which were largely focused on the discovery of near surface epithermal gold mineralization with the majority of shallow drilling confined within 200 metres of surface. During the 2011/2012 drilling season, Hochschild Mining drilled to depths of 500 metres, cutting porphyry-style alteration mineralization.