Highest-Grade Porphyry Intersection At The Valeriano Cu-Au Project

TORONTO - ATEX Resources Inc. pleased to provide an update on its Phase V program at the Valeriano Copper Gold Project, located in the Atacama Region, Chile. The Company currently has five diamond drill rigs operating, five holes completed and another five in progress. To date 9,675 metres of drilling has been completed in Phase V.

Partial assays including a high-grade intersection in ATXD25A of 30 metres ("m") grading 4.40% copper equivalent ("CuEq") (2.21% Cu, 3.17 g/t Au, 15.1 g/t Ag and 3 g/t Mo) within a broader interval of 108m of 1.69% CuEq (0.87% Cu, 1.18 g/t Au, 5.5 g/t Ag and 9 g/t Mo) from 1,892m downhole with results above and below this interval pending. ATXD25A continued drilling from a depth of 1,454m, where it was paused at the end of Phase IV, targeting the northern extension of the high-grade porphyry trend. This represents the highest-grade and northernmost intersection within mineralized porphyry to date, extending the previously identified high-grade trend by 200m to a length of ~1,000m where it remains open. A new high-grade, bornite bearing enrichment zone was intersected with the hole completed at 2,232m downhole, achieving a new record hole length at Valeriano and ending in high grade mineralized porphyry.This intersection is 1,000m below the B2B zone representing a new exploration target that will be tested 200m up-dip in hole ATXD25B.

The complete results for ATXD16B significantly increase the length of previously reported intersectionsi to 232m of 1.00% CuEq (0.75% Cu, 0.31 g/t Au, 1.2 g/t Ag and 88 g/t Mo) within a broader interval of 780m of 0.76% CuEq (0.56% Cu, 0.23 g/t Au, 0.9 g/t Ag and 90 g/t Mo) from 1,044m downhole. ATXD16B extended the high-grade porphyry trend by approximately 120m to the southeast where it remains open.

ATXD23A intersected 152m of 2.12% CuEq (1.52% Cu, 0.75 g/t Au, 4.9 g/t Ag, 161 g/t Mo) within a broader interval of 342m of 1.52% CuEq (1.05% Cu, 0.47 g/t Au, 3.0 g/t Ag, 326 g/t Mo) from 1,226m downhole. The complete results for ATXD23A have significantly increased the total mineralized intersection to 1,220m of 0.91% CuEq (0.66% Cu, 0.28 g/t Au, 1.9 g/t Ag, 130 g/t Mo) from

Two rigs are currently dedicated to defining the high-grade breccia B2B zone with two others focused on infill drilling within the higher-grade Valeriano Porphyry units. A fifth rig is drilling ATXD25B, a follow-up hole to ATXD25A.

"Valeriano keeps getting better with every hole in the Phase V program to date intersecting significant high-grade mineralization and setting new records for the Project" stated Ben Pullinger, President, and CEO. "Hole 25A has successfully extended the high-grade porphyry trend to approximately 1,000m, where it remains open. With both the B2B zone and the Valeriano Porphyry delivering the best drill results ever in Phase V, the Project continues to demonstrate its potential as an internationally significant new copper-gold deposit. I am also excited to have Christine join our team; her demonstrated expertise and leadership experience will be a valuable asset to our Company. I also want to thank Dr. Owen Hatton for his contributions to the Valeriano Project, and I wish him all the best in his future endeavors.”