ATEX Resources Inc. announced complete assay results for drill hole ATXD12A from its Phase IV drill campaign at the Valeriano Copper-Gold Project located in Atacama Region, Chile. Results: ATXD12A (daughter hole out of historical hole VALDD12-12) was drilled to the west with a dip of 80 degrees and an azimuth of 310 degrees. Hole ATXD12A targeted the Western Trend where it intersected Early Porphyry ("EP") expanding the width of the western porphyry that remains open along strike.

Three diamond drill holes are currently underway: ATXD25 is being drilled from surface on the west side of the Valeriano Ridge. This hole is being drilled east towards the Western Porphyry trend where it will test a corridor of potential mineralization associated with the Western Trend Porphyry and potentially the western contact of the porphyry. This target is assumed to have rough dimensions of 1 kilometre along strike, in excess of 500 metres wide and a kilometer of vertical extent, based on previous holes.

Should ATXD-25 be successful, multiple daughter holes can be drilled out of it, testing strike and dip continuity of this target. ATXD17A is a daughter hole from ATXD-17 (1,160 metres grading 0.78% copper equivalent ("CuEq") (0.53% Cu, 0.28 g/t Au and 70 ppm Mo), reported June 13, 2022, including 550 metres of 1.03% CuEq (0.69% Cu, 0.39 g/t Au and 70 ppm Mo)) and will be testing the vertical extent of the Central High grade trend as well as the eastern contact of the Western Trend Porphyry. ATXD16A, a daughter hole being drilled to the west out of VAL-16 (historical hole intersecting 1,045 metres of 0.53% CuEq (0.39 Cu, 0.17 Au, 54 Mo)).

This hole has been planned to test the eastern contact for the Central High-Grade Porphyry trend. 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 the 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 and Lima, Peru for gold (Au-AA24), copper (Cu-AA62), molybdenum (Mo-AA62) and silver (Ag-AA62) assays as well as and multi-element ICP (ME-MS61) analysis.

No data quality problems were indicated by the QA/QC program. Mr. Ben Pullinger, P.Geo., registered with the Professional Geoscientists Ontario, is the Qualified Person, as defined by National Instrument 43-101 - Standards for 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.