ATEX Announces Appointment of Alejandra Wood to its Board and Welcomes Pierre Lassonde as a 10.2% Shareholder

Toronto, December 20, 2021 - ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to announce the appointment of Alejandra Wood to its Board of Directors. Ms. Wood brings in excess of 20 years' international and Chilean mineral industry experience and is currently the Executive Director of the Center for Copper and Mining Studies ("Cesco"), an international, non-profit organization which focuses on broadening the discussion on new approaches to sustainable mining while creating a more diverse, inclusive and innovative industry. Ms. Wood replaces Carl Hansen, who has stepped down from the Board of Directors.

On behalf of ATEX's Board of Directors, Craig Nelsen, Chairman, stated, "We are very pleased to have Ms. Wood join ATEX's Board. Considering Ms. Wood's previous extensive experience in external affairs and communications with BHP Billiton Base Metals as well as her current role as Executive Director of Cesco, she will provide invaluable input to the Board as ATEX ramps up exploration efforts in Chile. Further, I would also like to take this opportunity to thank Carl Hansen for his 12 years' of service, taking the lead in the formation of ATEX and its subsequent acquisition of the Valeriano Copper Gold Project."

"I welcome Alejandra to the ATEX Board and, based on her extensive experience within the Chilean mining industry, look forward to her contributions," said Raymond Jannas, CEO of ATEX. "Alejandra has excellent communication skills and strong relationships with local communities, mining companies and governmental authorities which will benefit ATEX. We look forward to Alejandra's input and assistance as we execute our exploration plans in Chile."

Upon the completion of ATEX's recent $8.5 million brokered private placement financing with Desjardins Capital Markets, Pierre Lassonde announced (December 3, 2021 press release) that he has become a 10.2% shareholder of ATEX. "We welcome Mr. Lassonde's vote of confidence in the ATEX management team and our Valeriano Copper Gold Project located in a new copper gold porphyry camp in Chile's prolific El Indio Mineral Belt," said Raymond Jannas.

Option Grant

ATEX announces it granted an aggregate of 2,520,000 stock options with 1,500,000 granted to directors and officers and 1,020,000 granted to consultants. Each option entitles the holder to acquire one ATEX common share at an exercise price of $0.36 until December 16, 2026.

National Instrument 43-101 Compliance

The Qualified Person, as defined by National Instrument 43-101 of the Canadian Securities Administrators, for the Valeriano Project is Sergio Diaz, a resident of La Senera, Chile. Mr. Diaz is a Public Registered Person for Reserves and Resources N° 51, in Chile and is also registered in the Colegio de Geólogos de Chile under N° 315.

About ATEX Resources Inc.

ATEX is a mineral exploration company focused on the acquisition, development and monetization of projects throughout the Americas. ATEX's flagship Valeriano Copper Gold Project is located in Chile's prolific El Indio Mineral Belt.

For further information, please contact:

Raymond Jannas,
President and CEO
Email: rjannas@atexresources.com
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. Forward-looking statements include, but are not limited to: the completion of the Offering, the total gross proceed of Offering, the closing date of the Offering, plans for the evaluation of exploration properties including the Valeriano Copper Gold Project; the success of evaluation plans; the success of exploration activities; mine development prospects; and, potential for future metals production. 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 the completion and size of the Offering. These factors include, among others: changes in economic parameters and assumptions; all aspects related to the timing of exploration activities and receipt of exploration results; the interpretation and actual results of current exploration activities; 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 5 technical studies; delays in obtaining governmental approvals or financing or in the completion of exploration; 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.

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