ATEX Announces Extension of Private Placement Closing

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Vancouver, British Columbia--(Newsfile Corp. - February 14, 2020) - ATEX Resources Inc. (TSXV: ATX) ("ATEX") is pleased to announce that pursuant to its previously announced private placement financing of up to $5.1 million (the "Private Placement"), ATEX has been granted an extension from the TSX Venture Exchange (the "TSXV") for the closing of any subsequent tranches of the Private Placement until February 21, 2020.

As disclosed in the press release dated February 3, 2020, ATEX closed the first tranche of the Private Placement, consisting of 3,616,333 units (each, a "Unit") for gross proceeds of $1,084,899.90. Each Unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.40 per share for a period of three years from the closing date. ATEX may conduct one or more further closings up to the maximum $5.1 million or 17,000,000 Units (the "Offering").

The TSXV has conditionally approved the issuance of securities in the Offering but the Offering remains subject to the receipt of final TSXV approval.

About ATEX Resources Inc.

ATEX is a minerals exploration company focused on the acquisition, development and monetization of projects throughout the Americas.

On behalf of ATEX Resources Inc.

Carl Hansen, CEO

For more information contact, email info@atexresources.com or call 1 604 684 7160.

Forward Looking Information

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/52470

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