ATEX Resources Inc. announced that is has completed drill hole ATXD-11B, the third drill hole in its Phase III drill campaign and has received assay results from hole ATXD-21 at the Valeriano Copper-Gold Project ("Valeriano" or the "Project") located in Atacama Region, Chile. The Phase III campaign continues to focus on its stated objectives of expanding the mineralized corridor through step out drilling along strike, primarily to the northeast, testing new targets along this corridor and seeking to define the continuity and geometry of the porphyry trends. Two diamond drill holes are currently underway, hole ATXD-23 being drilled approximately 200 metres north along trend of ATXD-11B and sub-vertical drill hole ATXD-22, which is approaching a depth of 1,500metres, to test the Mineralized Corridor between the Central High-Grade Trend and the Eastern Trend.

Once the new drill rig arrives, a third hole is planned to be drilled on the Western Trend following up on the ATXD-11B porphyry intersection. ATXD-11B (daughter hole) was wedged out at 700 metres from historical hole VAL-11 (mother hole) to the northeast at an azimuth of 54 degrees and 86 degree dip commencing in mineralized RMB. An early porphyry unit was intersected at a depth of approximately 1,420 metres down hole and continued in this unit until the hole was shut down at 2,190 metres.

This is new Western Porphyry Trend intersected in this hole is open both to the northeast and southwest. Hole ATXD-22 is being drilled at an azimuth of 322 degrees and 87 degree dip and is designed to be the first hole to evaluate possible presence of early porphyry between the Central and Eastern Trends. The hole is progressing on track and is at a depth of 1,500 metres having drilled though the overlying crystal tuff unit and into the RMB unit.

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.