ATEX Strengthens Management Team
Toronto, May 31, 2022 - ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to announce that Ben Pullinger will join ATEX as Senior Vice President Exploration and Business Development effective June 1, 2022. Mr. Pullinger has extensive international exploration and development experience including senior corporate roles with Roxgold Inc., Excellon Resource Inc. and, most recently, with Golden Star Resources Ltd. until its acquisition in early 2022. He is a Registered Professional Geologist in Ontario.
Throughout his career, Mr. Pullinger has directly contributed to the growth and development of significant mineral projects as well as contributing to business development initiatives and investor relations activities.
"I am very excited to have Ben join the team," said Raymond Jannas, President and CEO of ATEX. "Ben's experience in managing and developing exploration projects through to production will be invaluable as we continue to delineate and advance the Valeriano copper gold porphyry deposit and pursue other value building opportunities within the Company."
About the Valeriano Copper Gold Deposit
The Valeriano copper gold deposit 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 metals total 1.77 million tonnes copper, 1.84 million ounces gold and 8.62 million ounces silver for 2.30 million tonnes copper equivalent. For further information on the inferred resource estimate, see the Technical Report titled "VALERIANO PROJECT INFERRED RESOURCE ESTIMATES Atacama Region, Chile" dated November 13, 2020, and filed at www.sedar.com.
National Instrument 43-101 Compliance
The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for the Valeriano Copper Gold Project is Sergio Diaz, a resident of La Senera, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources No. 51, in Chile and is also registered in the Colegio de Geólogos de Chile under No. 315.
The resource estimate copper equivalent grade was calculated based upon a copper price of $3.00 per pound, gold price of $1,800 per ounce and silver price of $25.00 per ounces (all prices in US$). Metal recoveries were not considered. The formula used for the copper equivalent calculation was: Cu Eq% = (Cu ppm/10,000) + (Au g/t * Au $/oz/ 22.0462 * 31.1035*Cu price) + (Ag g/t * Ag price / 22.0462 * 31.1035*Cu price).
About ATEX Resources Inc.
ATEX is a mineral exploration company focused on the acquisition, development and monetization of projects throughout the Americas. ATEX's flagship Valeriano Copper Gold Project is located in Chile's prolific El Indio Mineral Belt.
For further information, please contact:
Raymond Jannas,
President and CEO
Email: rjannas@atexresources.com
or visit ATEX's website at www.atexresources.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, including predictions, projections and forecasts. Forward-looking statements include, but are not limited to: plans for the evaluation of exploration properties including the Valeriano Copper Gold Project; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such forward-looking statements include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental and local approvals or financing or in the completion of exploration; as well as those factors disclosed in ATEX's publicly filed documents.
Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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