Mr. Raymond Jannas reports

ATEX ANNOUNCES COMPLETION OF ATXD25 CONFIRMING CONTINUITY OF MINERALIZED PORPHYRY 200 METRES WEST OF PREVIOUS DRILLING AND BETWEEN CENTRAL AND WESTERN TRENDS

Atex Resources Inc. has completed ATXD25, the fourth hole from its phase IV drill campaign at the Valeriano copper-gold project located in Atacama region, Chile.

Highlights include:

• ATXD25 intersected mineralized early porphyry (EP) from 1,550 metres down hole and remained in mineralized EP until the hole was terminated at 2,208.2 metres:
  • ATXD25 confirmed the presence of EP 200 metres west of the EP intersected in ATXD11B (1,342.5 m of 0.73 per cent copper equivalent (0.46 per cent Cu, 0.31 gram per tonne Au, 43 g/t molybdenum), see company news dated March 30, 2023);
  • And confirmed continuity of mineralized EP in the gap between the Western and Central trend.
• Additionally, ATXD17B was completed early at a depth of 1,671 metres after deviating farther south than anticipated and intersecting bad ground. This resulted in the hole exiting the target corridor.
• Atex currently has three rigs actively drilling on the project with holes ATXD25A, ATXD26 and ATXD27 currently under way with the aim of testing for continuity of mineralized porphyry between the currently modelled EP trends and extending mineralization farther along strike to the north.
• Results for ATXD25 are expected in mid- to late April.

"Hole ATXD25 is an incredibly exciting hole for us," stated Raymond Jannas, president and chief executive officer of Atex. "It achieved three notable objectives: firstly, confirming the continuity of mineralized EP to the west of existing drilling; secondly, closing in the gap between the Western and Central trend porphyry units; and thirdly, delivering 660 metres of continuous mineralized EP. We are excited to continue to expand on what we have learned from ATXD25 in ATXD25A and seek to expand this trend even further north and west in upcoming drilling."

Quality assurance/quality control

Drill holes are collared with a PQ drill bit, reduced to HQ and, sequentially, to NQ as the drill holes progressed deeper. Drill core produced by the drill rigs was extracted from the core tubes by the drill contractor under the supervision of Atex employees, marked for consistent orientation and placed in core boxes with appropriate depth markers added. Full core boxes were then sealed before being transported by Atex personnel to the Valeriano field camp. Core at the field camp is processed, quick logged, checked for recovery, photographed, and marked for specific gravity, geotechnical studies and for assays. From camp, the core is transferred to a secure core-cutting facility in Vallenar, operated by IMG, a third party consultant. Here, the core trays are weighed before being cut using a diamond saw under Atex personnel oversight. Atex geologists working at this facility double-check the selected two-metre sample intervals, placing the samples in seal bags and ensuring that the same side of the core is consistently sampled. Reference numbers are assigned to each sample and each sample is weighed. The core trays with the remaining half core are weighed and photographed. Additionally, core logs are updated, and specific gravity and geotechnical samples are collected. The remaining core is stored in racks at the company's secure facility in Vallenar.

From Vallenar samples are sent to an ALS preparation facility in La Serena. ALS is an accredited laboratory which is independent of the company. The prepared samples were sent to the ALS assay laboratories in either Santiago, Chile, or Lima, Peru, for gold (Au-AA24), copper (Cu-AA62), molybdenum (Mo-AA62) and silver (Ag-AA62) assays as well as multielement inductively coupled plasma (ME-MS61) analysis. No data quality problems were indicated by the QA/QC program.

Qualified person

Ben Pullinger, PGeo, registered with the Professional Geoscientists Ontario, is the qualified person, as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, for the Valeriano copper-gold porphyry 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 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 (0.50 per cent Cu, 0.20 g/t Au, 0.96 g/t Ag and 63.80 g/t Mo), 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.

We seek Safe Harbor.