ATEX Strengthens Executive Leadership Team to Advance Valeriano and Accelerate District Growth

ATEX strengthens its leadership team as Valeriano advances, with major roles effective imminently.

What the company is saying

ATEX Resources Inc. is announcing four senior leadership changes to support the next phase of the Valeriano copper-gold project in Chile. Francisco Errazquin will become Chief Operating Officer on November 16, 2026, bringing over 20 years of mining experience, including leading roles at Antofagasta Minerals and BHP’s US$3.5 billion Escondida OGP1 project. Marco Galego, with 20 years in mining finance and recent experience at Equinox Gold, will become Chief Financial Officer on January 1, 2027, with Jacques Steele remaining as Interim CFO until then and continuing as Director of Finance. Simon Houle, an economic geologist with more than 20 years of international experience and a background at Barrick and Azimut Exploration, will become Vice President, Exploration, also on November 16, 2026. Felipe Machado, who joined ATEX in August 2024 and has led ESG strategy, is promoted to Executive Vice President, Sustainability and Corporate Affairs, effective November 16, 2026. The company frames these appointments as building on a strong Chilean team and providing the experience needed for continued exploration, resource growth, and advanced project evaluation at Valeriano. The narrative emphasizes the scale of Valeriano—described as a globally significant undeveloped copper asset with 2 billion tonnes of resource and substantial upside. The tone is confident, highlighting the strategic importance of sustainability and stakeholder engagement as the project matures.

What the data suggests

The Valeriano project’s Indicated Mineral Resource stands at 475 million tonnes at 0.88% CuEq (0.58% Cu, 0.25 g/t Au, 1.39 g/t Ag, 70.4 g/t Mo), and Inferred Mineral Resource at 1,511 million tonnes at 0.75% CuEq (0.50% Cu, 0.20 g/t Au, 1.16 g/t Ag, 70.6 g/t Mo), as of September 23, 2025. No new operational or financial metrics are disclosed in this announcement; the resource figures are unchanged and serve as context for the leadership changes. The new COO, Francisco Errazquin, has led projects with capital intensity up to US$3.5 billion, indicating experience with large-scale developments. The CFO designate, Marco Galego, has managed finance and M&A for multiple listed mining companies, including Equinox Gold and Calibre Mining. Simon Houle’s background includes managing exploration teams of 12 geologists and experience across Canada, Chile, Guyana, Nevada, and Zambia. Felipe Machado has led ESG and government relations for ATEX since August 2024. The factual disclosures focus on the depth of experience of the appointees and the scale of the Valeriano resource, but do not provide new project milestones, economic studies, or funding updates.

Analysis

This announcement is a routine corporate update focused on senior leadership appointments and does not contain exaggerated or promotional language relative to the disclosed facts. The majority of claims are realised (appointments, experience, resource figures), with some forward-looking statements about anticipated roles and future project development, but these are standard in personnel releases and not overstated. No new exploration, operational, or financial milestones are claimed, and there is no discussion of capital outlay or project economics in this release. The mineral resource figures are clearly dated and attributed, and the professional backgrounds of appointees are supported by specific experience disclosures. There is no evidence of narrative inflation or overstatement; the tone is proportionate to the content. The announcement does not attempt to link these appointments to immediate financial or operational benefits.

Risk flags

• ●Leadership transitions carry execution risk, especially as three key roles (COO, VP Exploration, EVP Sustainability) change hands within weeks and the CFO transition follows shortly after. Rapid onboarding and integration are critical to maintain project momentum.
• ●The company’s narrative relies on the scale and potential of the Valeriano project, but no new technical, permitting, or funding milestones are disclosed in this update, leaving the timeline and pathway to development unchanged.
• ●The resource figures cited are as of September 2025 and have not been updated in this announcement, so investors have no new data on exploration progress or resource growth since that date.

Bottom line

ATEX Resources is consolidating its leadership team with experienced hires in operations, finance, exploration, and sustainability as it advances the Valeriano copper-gold project in Chile. The appointments are well credentialed, with backgrounds in large-scale mining projects and international exploration, but the announcement does not include new operational, financial, or permitting milestones. The Valeriano project remains at the resource growth and evaluation stage, with 475 Mt Indicated at 0.88% CuEq and 1,511 Mt Inferred at 0.75% CuEq. The near-term focus will be on how quickly the new team can deliver tangible progress on project advancement, permitting, and resource updates. Investors should watch for concrete evidence of project de-risking, updated resource estimates, or financing developments to validate the narrative of growth. The main takeaway is that ATEX is investing in management depth ahead of major project decisions, but the path to value realization still depends on future technical and financial milestones.

Announcement summary

(TSX:ATX, OTCQX:ATXRF) ATEX Resources Inc. announced a series of senior leadership appointments to strengthen its exploration, project development, operational, financial, sustainability, and corporate affairs capabilities as it advances the Valeriano copper-gold project and broader district opportunity in Chile. Francisco Errazquin has been appointed Chief Operating Officer, effective November 16, 2026. Marco Galego has been appointed Chief Financial Officer, effective January 1, 2027. Simon Houle has been appointed Vice President, Exploration, effective November 16, 2026. Felipe Machado has been promoted to Executive Vice President, Sustainability and Corporate Affairs, effective November 16, 2026. Chris Beer continues as Interim President and Chief Executive Officer, and Jacques Steele will remain Interim Chief Financial Officer until January 1, 2027, after which he will continue as Director of Finance. The Valeriano project has an Indicated Mineral Resource of 475 Mt at 0.88% CuEq (0.58% Cu, 0.25 g/t Au, 1.39 g/t Ag, and 70.4 g/t Mo) and an Inferred Mineral Resource of 1,511 Mt at 0.75% CuEq (0.50% Cu, 0.20 g/t Au, 1.16 g/t Ag, and 70.6 g/t Mo), as reported on September 23, 2025. Francisco Errazquin brings over 20 years of experience in the Chilean and international mining sector, including work on BHP's US$3.5 billion Escondida OGP1 project. Marco Galego is a Chartered Professional Accountant with 20 years of finance leadership experience in mining, most recently at Equinox Gold. Simon Houle is an economic geologist with more than 20 years of international mining experience, most recently as Senior Exploration Manager at Barrick. Dr. Felipe Machado joined ATEX on August 19, 2024, and has led the company's environmental, social, and governance strategy in Chile. The company is advancing the Valeriano Copper-Gold Project in Chile, which is recognized as a leading undeveloped copper asset globally. Brad Ulry, P.Geo., Chief Operating Officer of Dahrouge Geological Consulting Ltd., has reviewed and approved the scientific and technical information in this news release.

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