Mr. Raymond Jannas reports

ATEX RECEIVES US$5 MILLION UNDER CREDIT FACILITY

Atex Resources Inc. has drawn down and received the second and final instalment of $5-million (U.S.) in financing under its $15-million (U.S.) credit agreement dated July 11, 2023, entered into between the company and a group of existing strategic shareholders led by Firelight Investments LLC, a company controlled by Pierre Lassonde (an insider of Atex), Beedie Investments Ltd. and Trinity Partners Capital Corp.

The company initially received $10-million (U.S.) under the initial funding tranche of the credit agreement on July 18, 2023. For further information on the credit agreement, please see the news releases of the company dated July 12, 2023, and July 18, 2023. A copy of the credit agreement is available under the company's profile on SEDAR+.

Proceeds from the credit agreement have been, and will continue to be, used to finance the exploration and development of the company's Valeriano copper-gold project (including drilling, assays and working capital needs related thereto), including the completion of an updated mineral resource statement and associated National Instrument 43-101-compliant technical report (completed in October, 2023), and financing general and administrative costs consistent with the company's current practices.

Atex has commenced its phase IV (2023 to 2024) exploration drilling campaign where it intends to drill between 15,000 and 20,000 metres.

About Atex Resources Inc.

Atex is exploring the Valeriano copper-gold 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 resource: 1.41 billion tonnes at 0.67 per cent CuEq (copper equivalent) (0.50 per cent Cu, 0.20 gram per tonne Au (gold), 0.96 g/t Ag (silver) and 63.80 g/t Mo (molybdenum)), which includes a higher-grade core 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), reported in September, 2023.

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