ATEX Announces CEO Succession and Strengthens Management Team

Toronto, Ontario--(Newsfile Corp. - April 3, 2024) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") announces that its founding CEO, Raymond Jannas, is proceeding with a planned retirement from the executive team of ATEX at the end of April, and effective May 1, 2024, Ben Pullinger, the Company's current SVP of Exploration and Business Development, will step into the role of ATEX's President and Chief Executive Officer. These changes mark the completion of the succession plan developed by ATEX's Board of Directors (the "Board"), assuring a seamless transition of leadership for the Company. Mr. Jannas will remain a member of the Board and will be appointed to a new role as Strategic Advisor to the Board.

Additionally, ATEX is pleased to announce the appointment of two new senior employees, Mr. Aman Atwal as VP of Business Development and Investor Relations and Dr. Owen Hatton as Director of Exploration, strengthening the management team to further support the growth of the Company and its world-class Valeriano Project.

Appointment of Aman Atwal as VP of Business Development and Investor Relations

Mr. Atwal brings over a decade of Corporate Development and Investor Relations experience working with senior publicly traded mining companies. Mr. Atwal joins ATEX from Lundin Mining where he worked for nine years as Director of Corporate Development, contributing to the strategy, execution, and communication of three successful acquisitions, one strategic divestiture, and a high profile attempted takeover. He spent his earlier years in Investor Relations at Barrick Gold and in equity research at Barclays Capital Canada covering the North American mining sector.

Mr. Atwal holds an MBA from McMaster University, is a Chartered Financial Analyst (CFA) and is currently completing a Master of Laws (LLM) Degree at York University Osgoode Hall Law School.

Appointment of Dr. Owen Hatton as Director of Exploration

Dr. Hatton will take on the new role of ATEX's Director of Exploration and will be based in Chile where the Company's Valeriano Project is located. He most recently held the role of Principal Geologist, Americas & Europe for Oz Minerals where he worked for five years. He brings over 24 years of international experience in the exploration, management and advancement of exploration projects including Andean copper-gold porphyry systems and has held senior roles at Avanco, BHP and Teck Resources in the past. Dr. Hatton holds a PhD in Economic Geology from the University of Tasmania and a BSc Degree in Geology from the University of Technology Sydney and is a Member of AusIMM. He also holds post secondary certifications in Applied Finance and Mining Finance. Dr Hatton is an Australian citizen with permanent residency in Chile and is fluent in both Spanish and Portuguese.

Both Mr. Atwal and Mr. Hatton will commence their roles at ATEX on May 1^st 2024.

Comments from the Chair and Mr. Jannas

"On behalf of the Board and all shareholders, I would like to extend our sincerest gratitude to Raymond for his invaluable contributions and leadership during his time as CEO of ATEX," stated Craig J. Nelsen, Chair of ATEX. "Raymond has played a pivotal role in guiding the Company through significant milestones and challenges while growing the Company and advancing the Valeriano Project to where it is today. We would like to thank him for his vision and for his energy in running the day-to-day operations. We also appreciate his commitment to remain part of the ATEX team in his ongoing role as a Director and Strategic Advisor to the Board. We wish him well in his retirement."

"I'd also like to personally welcome Ben to his new role as President & CEO." Continued Mr. Nelsen, "I've watched Ben develop over the last two years and have the upmost confidence in him in his new role. He has the right combination of technical skills, capital markets experience and knowledge of our shareholder base to guide ATEX through its next stages of growth. Additionally, I'd like to extend a warm welcome to Aman and Owen who are joining the growing ATEX team. I look forward working with them and seeing them contribute to the further success and growth of the Company."

Mr. Jannas stated, "It has been an extraordinary journey steering this company since 2020 when its market value stood at CAD $5 million dollars. As I sit here today, Valeriano is evolving into one of the largest undeveloped Cu-Au porphyry districts in the world. Such an accomplishment, for such a small team, brings me immense joy, as this discovery represents a significant milestone in my career. To Ben Pullinger, stepping into the role of President and CEO, I offer my sincerest wishes for continued success. A profound appreciation goes to the ATEX team and the Board for their unwavering dedication, passion, and commitment. Their contributions were indispensable in achieving our collective goals. I am confident they will remain a driving force in shaping the future of Valeriano. I extend heartfelt thanks to my friends Pierre Lassonde, Craig Nelsen and Albrecht Schneider, whose unwavering support has been invaluable and played a pivotal role in our success."

About ATEX

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. 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 (Filo Mining), Josemaria (Lundin Mining), Los Helados (NGEX Minerals/JX Nippon), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick Gold).

Valeriano hosts a large copper gold porphyry resource: 1.41 billion tonnes at 0.67% CuEq (0.50% Cu, 0.20 g/t Au, 0.96 g/t Ag and 63.80 g/t Mo), which includes a higher-grade core totaling 200 million tonnes at 0.84% CuEq (0.62% Cu, 0.29 g/t Au 1.25 g/t Ag and 55.7 g/t Mo), reported in September 2023¹.

For further information, please contact:

Raymond Jannas
President & CEO
Email: rjannas@atexresources.com

Ben Pullinger
Senior Vice President of Exploration and Business Development
Email: bpullinger@atexresources.com

1-647-287-3778 or visit ATEX's website at www.atexresources.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

This news release contains forward-looking statements, including predictions, projections, and forecasts. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such forward-looking statements include, among others: the anticipated retirement date of the Company's current President and CEO and his future positions with the Company; and the start dates of the incoming President and CEO and other new employees.

Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether such results will be achieved. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to, the factors discussed above and elsewhere in this news release, as well as unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; changes in commodity prices; the interpretation and actual results of current exploration activities and mineralization; changes in project parameters as plans continue to be refined; the results of regulatory and permitting processes; future metals price; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; the results of economic and technical studies; delays in obtaining governmental and local approvals or financing or in the completion of exploration; timing of assay results; as well as those factors disclosed in ATEX's publicly filed documents.

Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepts responsibility for the adequacy or accuracy of the content of this news release.

¹ Please see NI 43-101 technical report titled "Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile" by Joled Nur, CCCRRM-Chile, and David Hopper, CGeol, with an effective date of September 1, 2023, available at www.sedarplus.com and www.atexresources.com for additional details on the 2023 Mineral Resource Estimate for the Valeriano project.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204070