Mr. Ben Pullinger reports

ATEX ACQUIRES STRATEGIC 14,550 HECTARE SURFACE RIGHTS PACKAGE

Atex Resources Inc. has signed a binding purchase and sale agreement to acquire a significant strategic land package unlocking key access and infrastructure advantages that support the continued advancement of the Valeriano copper-gold project located in the Atacama region, Chile. The property, including associated water use rights, will be acquired (upon fulfilment of certain conditions provided in the PSA) from an arm's-length vendor, Sociedad Agricola y Turistica Cajon El Encierro Ltda., for $21-million (U.S.), payable on closing. Separately, Atex has added over 12,000 hectares of new exploration claims, to the west and east of the project, further expanding the company's land position and increasing the opportunity for new discoveries in this emerging district.

Highlights:

• Acquisition of surface rights covering approximately 14,550 hectares extending from the south of Atex's Valeriano project to the north through Antofagasta Minerals' El Encierro copper-gold exploration project and into Codelco's Torrente copper exploration project;
• Creates an opportunity for Atex to enhance collaboration and partnerships with neighbouring projects to build and develop an emerging copper-gold district in Chile, situated 70 kilometres to the south of the Vicuna district;
• Atex now holds the surface rights required to advance Valeriano, reducing permitting risk and providing long-term certainty for the development of future project infrastructure;
• In addition to the surface rights, the acquisition includes water rights that have the potential to reduce costs for future exploration programs;
• Atex will retain existing land access agreements over the property generating annual income for Atex and eliminating the company's annual land access payments (approximately $450,000 (U.S.) spent from 2021 to 2025);
• Separately, Atex has also increased its exploration footprint in the district through the addition of new licences covering 10,800 hectares to the west (Juno) of Valeriano and 1,920 hectares to the east (Nueva):
  • Atex's exploration footprint has grown over 300 per cent to 16,515 ha from 3,795 ha in 2023;
  • The western claims additionally host a currently untested hyperspectral alteration anomaly like those observed over Valeriano, Torrente and other projects in the region.

"Securing surface rights has historically been one of the most significant challenges to advancing major mining projects globally, and Chile is no different," Ben Pullinger, president and chief executive officer, commented. "By consolidating these rights early, we now have greater strategic flexibility and operational agility to establish infrastructure for roads, water supply, exploration facilities and access to the site, all within the property's boundaries. This also presents an opportunity to build closer, more collaborative relationships with local stakeholders and neighbouring projects owned by major mining companies while establishing Atex in a stronger, more strategic role for potential future collaboration. This property is a valuable long-term asset for Atex as it continues to explore, derisk and grow the Valeriano project. We have also staked new claims of over 12,000 hectares surrounding our project, opening new exploration corridors and targets that could meaningfully increase the scale of Valeriano."

Acquisition presents an investment toward shaping collaboration of an emerging copper district

The surface rights acquired from the seller cover a significant area totalling approximately 14,550 hectares. The property measures over 25 kilometres in length, ranges between five and 10 kilometres in width covering the western portion of the Valeriano project, and extends more than seven kilometres beyond its southern border while also continuing north of the project over Antofagasta's El Encierro project (inferred mineral resource estimate of 522 million tonnes at 0.79 per cent copper equivalent (0.65 per cent copper, 0.22 gram per tonne gold and 74 parts per million molybdenum at a 0.5-per-cent-copper-cut-off grade)) and then farther north into Codelco's Torrente exploration project. All three of these projects are anticipated to see active exploration in the foreseeable future with Antofagasta Minerals investing $95-million (U.S.) to explore and derisk El Encierro over five years according to its environmental impact application to the Chilean regulator. Securing these surface rights is an important first step that facilitates future collaboration and partnerships as this district evolves through more exploration and potential discovery.

Additionally, these surface rights include active land access agreements generating revenue for Atex and eliminating the company's access fees which totalled approximately $450,000 (U.S.) from 2021 to 2025. Select areas of this land package could also potentially be monetized in the future as neighbouring projects evolve and surface rights for development and access are needed.

The acquisition also includes important water use rights located north of the property, which have the potential to lower water sourcing and transportation costs for future drill programs and reduce Atex's exploration costs per metre for the project.

Terms of purchase for acquisition

Under the terms of the PSA, Atex will acquire the property and associated water use rights for a total purchase price of $21-million (U.S.) in cash payable on closing. At the time of executing the PSA, Atex had a cash balance of approximately $50-million (Canadian).

Closing conditions

The acquisition remains subject to certain closing conditions, including, but not limited to, the registration of the property and associated water use rights under Atex's name in the real estate registrar. This registration confirms the company's ownership and also that these assets are free and clear of any encumbrances or other limitation on ownership and use. These conditions, along with others, are customary for a transaction of this nature in Chile.

New Juno and Nueva claims further increase Valeriano exploration footprint

Separately from the acquisition, Atex has also increased its exploration footprint around its Valeriano project through the addition of the Juno claims measuring 10,800 hectares located to the west and the Nueva claims measuring 1,920 hectares and situated to the east. The Juno claims host a yet-to-be-tested hyperspectral alteration anomaly, consistent with signatures seen at Valeriano, Torrente and other regional projects. The addition of these blocks increases the company's exploration holdings to 16,515 ha from 3,795 ha.

Analyst webcast and conference call

Details of the acquisition will be presented by Mr. Pullinger in a webcast conference call on Sept. 24, 2025, at 8 a.m. EST. Webcast and conference call details are provided below.

Webcast/conference call details

Date:  Sept. 24, 2025

Time:  8 a.m. EST

A listen-only webcast will be available.

North American dial-in for analyst questions and answers:  1-866-807-9684

International dial-in for analyst Q&A:  1-412-317-5415

Qualified person

Ben Pullinger, PGeo, registered with the Professional Geoscientists Ontario, a qualified person (as defined by National Instrument 43-101), has reviewed and approved of the other scientific and technical information contained in this press release. Mr. Pullinger is not considered independent under NI 43-101 as he is president and chief executive officer of Atex.

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, located in the Atacama region, Chile. 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 (Lundin Mining/BHP), Josemaria (Lundin Mining/BHP), Lunahausi (NGEx Minerals), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick).

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