ATEX Announces AGM Results and Appointment of Additional Director

Rhea-AI Summary

ATEX Resources Inc. announced the positive results of its Annual General and Special Meeting, with all motions approved by shareholders. The new CEO, Ben Pullinger, was appointed to the board of directors. The detailed voting results showed overwhelming support for various resolutions, including setting the number of directors at five and approving the appointment of the Company's auditor and amended stock option and restricted share unit plans.

Positive

• Ben Pullinger appointed as a new director after starting as CEO and President, showing strong leadership continuity.
• Overwhelming shareholder support for motions at the Annual General and Special Meeting, indicating investor confidence in the Company.
• Successful approval of resolutions setting the number of directors, appointing the auditor, and ratifying amended stock option and restricted share unit plans for the upcoming year, demonstrating effective governance and planning.

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - May 3, 2024) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") is pleased to announce the results of its Annual General and Special Meeting (the "Meeting") of its shareholders held online on Friday, May 3, 2024. All of the motions set out in ATEX's Notice of Annual General and Special Meeting and Management Information Circular dated March 26, 2024 were overwhelmingly approved by ATEX shareholders at the Meeting as further described below. In addition, the Company is pleased to announce that following the Meeting, Ben Pullinger, who began his tenure as Chief Executive Officer and President on May 1, 2024, was appointed to the board of directors.

The detailed voting results of the Meeting are as follows:

• a total of 111,984,729 votes were cast by holders of ATEX common shares (the "Shares"), representing 56.75% of the total outstanding Shares;

• 110,480,877 Shares, representing 100% of the votes cast, were voted in favour of setting the number of directors at five;

• between 102,865,514 Shares and 106,250,514 Shares, representing between 96.80% and 99.99% of the votes cast, were voted in favour of the election of directors for the ensuing year as follows: Craig Nelsen – 99.99%; Raymond Jannas – 99.99%; Robert Suttie – 99.99%; Alejandra Wood – 96.80%; and Jamile Cruz – 99.99%;

• 111,974,729 Shares, representing 99.99% of the votes cast, were voted in favour of appointing McGovern Hurley LLP, Chartered Accountants, as the Company's auditor for the ensuing year and to authorize the directors to fix their remuneration;

• 102,730,104 Shares, representing 96.68% of the votes cast, were voted in favour of passing an ordinary resolution approving and ratifying the Company's amended stock option plan for the ensuing year; and

• 102,733,146 Shares, representing 96.68% of the votes cast, were voted in favour of passing an ordinary resolution approving and ratifying the Company's amended restricted share unit plan for the ensuing year.

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:
Ben Pullinger
President & CEO
Email: bpullinger@atexresources.com

Aman Atwal,
Vice President of Business Development and Investor Relations
Email: aatwal@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: plans for the evaluation of exploration properties including the Valeriano Copper Gold Project; the success of evaluation plans; the success of exploration activities especially to the significant expansion of the high-grade corridor; mine development prospects; potential for future metals production; changes in economic parameters and assumptions; all aspects related to the timing and extent of exploration activities including the Phase IV drill program contemplated in this press release; timing of receipt of exploration results; 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.

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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/208026

FAQ

Who was appointed as a new director after starting as CEO and President of ATEX Resources Inc.?

Ben Pullinger was appointed as a new director after starting as CEO and President of ATEX Resources Inc.

What were the voting results for setting the number of directors at the Annual General and Special Meeting?

110,480,877 Shares were voted in favor of setting the number of directors at five.

Which resolutions were approved by ATEX shareholders at the Meeting?

ATEX shareholders approved various resolutions, including setting the number of directors, appointing the auditor, and ratifying amended stock option and restricted share unit plans.

Who was appointed as the Company's auditor for the ensuing year?

McGovern Hurley LLP, Chartered Accountants, was appointed as the Company's auditor for the ensuing year.

What percentage of votes were cast in favor of passing an ordinary resolution approving and ratifying the Company's amended stock option plan?

96.68% of the votes cast were in favor of passing an ordinary resolution approving and ratifying the Company's amended stock option plan for the ensuing year.

What percentage of votes were cast in favor of passing an ordinary resolution approving and ratifying the Company's amended restricted share unit plan?

96.68% of the votes cast were in favor of passing an ordinary resolution approving and ratifying the Company's amended restricted share unit plan for the ensuing year.