Mr. Carl Hansen reports

ATEX CLOSES FINAL TRANCHE OF PRIVATE PLACEMENT FINANCING

Atex Resources Inc. has closed the final tranche of its non-brokered private placement financing that was announced on Feb. 3, 2020. Today, Atex issued 2,756,333 units at 30 cents per unit for gross proceeds of $826,900. Together with the first tranche, Atex has issued a total of 6,372,666 units for aggregate gross proceeds of approximately $1.9-million.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of 40 cents per share for a period of three years from the closing date.

In connection with the final tranche of the financing, Atex paid an aggregate finder's fee in cash of $15,533.01 and issued an aggregate of 51,777 finder warrants, which entitle the holders to purchase an aggregate of 51,777 units for a period of 12 months from the closing date at a purchase price per unit of 30 cents.

The net proceeds from the private placement will be used for mineral exploration and general working capital purposes.

All securities issued today are subject to a statutory hold period, equal to four months and one day from the date of issuance, which will end on June 21, 2020.

The TSX Venture Exchange has conditionally approved the issuance of securities in the private placement and the payment of the finder's fee, but each remains subject to its final approval.

About Atex Resources Inc.

Atex is a mineral exploration company, focused on the acquisition, development and monetization of projects throughout the Americas.

We seek Safe Harbor.