Mr. Raymond Jannas reports

ATEX FILES NI 43-101 TECHNICAL REPORT ON UPDATED MINERAL RESOURCE ESTIMATE FOR VALERIANO PROJECT

Atex Resources Inc. has filed a technical report, prepared in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects), for its Valeriano copper-gold project located in the Atacama region, Chile. Atex previously released the results of the mineral resource estimate on Sept. 12, 2023, which highlight a robust high-grade resource with expansion potential. The technical report is available on SEDAR+ under the company's profile and on the company's website.

Key highlights of the MRE include:

Highlights:

• New robust resource: Atex is excited to report a substantial increase in the MRE for the copper-gold porphyry mineralization at Valeriano. The deposit contains an inferred mineral resource of 1.4 billion tonnes at a grade of 0.67 per cent copper equivalent (0.50 per cent copper, 0.20 gram per tonne gold, 0.96 g/t silver and 63.8 g/t molybdenum) reported at a cut-off grade above 0.4 per cent Cu.
• High-grade core: The MRE includes a higher-grade core within early porphyry totalling 200 million tonnes at 0.84 per cent CuEq, (0.62 per cent Cu, 0.29 g/t Au 1.25 g/t Ag and 55.7 g/t Mo at a 0.50-per-cent-copper cut-off), further emphasizing the potential viability of the Valeriano deposit. High-grade core remains open in multiple directions.
• A growing discovery: A significant milestone for the company achieved by the Atex team through diligent and systematic exploration resulting in the successful execution of the phase 2 and phase 3 drill programs with all holes intersecting significant new Cu-Au mineralization. These results greatly expanded the dimensions of known mineralization while also extending known high-grade porphyry mineralization in the Central trend and discovering new high-grade porphyry mineralization within the Western trend.
• Strategic value: The increased size of the MRE represents a globally significant discovery within an emerging porphyry district.
• Exploration potential: Phase 4 drilling has commenced, and is planned to further define and expand the existing resource by targeting:
  • High-grade EP trends: specifically the Central and Western trends that already include multiple high-grade intercepts and are open along strike and at depth;
  • Expansion of the mineralized corridor, currently defined with a surface area measuring 1.0 kilometre along strike by 1.0 kilometre wide and open for expansion in all directions.

Ben Pullinger, PGeo, registered with the Professional Geoscientists Ontario, is the qualified person, as defined by NI 43-101, for the Valeriano project. Mr. Pullinger is not considered independent under NI 43-101 as he is senior vice-president, exploration and business development, of Atex. He has reviewed and approved the disclosure of the scientific and technical information contained in this press release.

About Atex Resources Inc.

Atex is exploring the Valeriano project, which is located within the emerging copper gold porphyry mineral belt linking the prolific El Indio high-sulphidation belt to the south with the Maricunga gold porphyry belt to the north. This emerging belt, informally referred to as the Link belt, hosts several copper-gold porphyry deposits at various stages of development, including: Filo del Sol (Filo Mining), Josemaria (Lundin Mining), Los Helados (NGEx Minerals/JX Nippon), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick Gold).

Valeriano hosts a large copper-gold porphyry deposit overlain by a near-surface oxidized epithermal gold deposit. In 2022, Atex completed the company's first limited drill test of the copper-gold porphyry system that is being followed up with a campaign of directional drilling to extend the high-grade trend, test new targets and expand the mineralized envelope.

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