ATEX Resources Inc. announced complete assay results for drill holes ATXD16A and ATXD17A, the second and third holes from its Phase IV drill campaign at the Valeriano Copper-Gold Project ("Valeriano" or the "Project") located in Atacama Region, Chile The results released combined with existing and historical results indicate the potential for a larger EP target within a NNW trending corridor. All EP and high-grade mineralization intersected by drilling to
date, falls within a corridor (Figure 2) with rough dimensions measuring 1.2 kilometres by 0.55 kilometres. In addition, ATXD16A intersected EP in the gap between the Central and Eastern Trends confirming that the two might be connected. The highest-grade interval intersected in hole ATXD17A was 0.79% CuEq (0.56% Cu, 0.28 g/t Au 0.90 g/t Ag and 103 g/t Mo) over 98 metres and occurred directly above the projected EP contact and within the gap between the Central and Western Trends. Additionally, this intersection occurs within the southern contact of conceptual NNW EP corridor. This adds further support to potential for EP below this intersection. Lastly the intersection of EP within potassic alteration in ATXD25, 200 metres to the west of the EP intersected in ATXD11B (1,342.5m of 0.70%(2) CuEq (0.46% Cu, 0.31 g/t Au, 43 g/t Mo), and along the projection of the NNW trending corridor is a significant development for the project, opening up a large EP target area to the west of previous drilling. This NNW corridor is currently open along strike in both directions. The most continuous high-grade intervals intersected on the Valeriano project to date have all been within EP along what are believed to be discrete NE trending bodies. Drilling is currently underway to target the gaps between these porphyry trends. Confirming the continuity of the EP within the gaps would significantly increase the EP target size within the current mineralized footprint. At the end of ATXD16A and ATXD17A, ATEX has completed approximately 6,500 metres of drilling in Phase IV. 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 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.