Mr. Ben Pullinger reports

ATEX RESOURCES ANNOUNCES C$85 MILLION BOUGHT DEAL FINANCING

Atex Resources Inc. has entered into an agreement with BMO Capital Markets and Desjardins Capital Markets on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal private placement basis, 32.7 million units of the company at a price per unit of $2.60 for aggregate gross proceeds to the company of approximately $85-million to advance exploration and development of its Valeriano project located in Atacama region, Chile.

Details of the offering

Each unit will be composed of one common share of the company and one common share purchase warrant. Each warrant shall be exercisable to acquire one common share at a price of $4 per warrant share for a period of four years from the closing of the offering.

Atex will have the right, in its sole discretion, beginning 12 months from the date of close of the offering, to accelerate the maturity date of the warrant, upon the occurrence of the common share price trading on the exchange at a volume-weighted average price above $5 for 20 consecutive trading days. This right will be executed through the delivery of an acceleration notice, which shall be no earlier than 20 business days following receipt of the notice by the holder.

The underwriters will have an option to offer for sale up to an additional number of units, common shares, warrants or any combination thereof that in aggregate would be equal to up to 15 per cent of the total number of securities to be issued under the offering, to cover overallotments. The underwriter's option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the offering.

The securities to be issued under the offering will be offered by way of private placement in each of the provinces and territories of Canada, pursuant to applicable private placement exemptions under National Instrument 45-106 (Prospectus Exemptions). The units may also be sold in the United States pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and in such other jurisdictions as may be permitted, such that such sales are completed in a manner so as to not require filing of a prospectus, registration statement, offering memorandum or similar document nor give rise to any disclosure obligations or submission to the jurisdiction of such jurisdictions on the part of the company.

Atex intends to use the net proceeds from the offering for exploration and development of the Valeriano project and for general working capital purposes. The offering is scheduled to close on or about Nov. 6, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the offering will have a hold period of four months and one day from the closing date.

In connection with the offering, the underwriters will receive an aggregate cash fee of 5.00 per cent of the gross proceeds from the offering, including in respect of any exercise of the underwriter's option, provided that the fee shall be reduced to 2.00 per cent in respect of certain purchasers identified on a president's list agreed to between the company and the underwriters.

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). Valeriano hosts a large, high-grade, copper-gold porphyry mineral resource: an indicated resource of 475 million tonnes at 0.88 per cent copper equivalent (0.58 per cent copper, 0.25 gram per tonne gold, 1.39 g/t silver and 70.4 g/t molybdenum) at a cut-off grade of 0.35 per cent Cu, and an inferred resource of 1,511 Mt at 0.75 per cent CuEq (0.50 per cent Cu, 0.20 g/t Au, 1.16 g/t Ag and 70.6 g/t Mo) at a cut-off grade of 0.35 per cent Cu, reported on Sept. 23, 2025.

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