ATEX Resources Inc. announced that it has entered into a credit agreement for the establishment of a USD 15 million unsecured credit facility (the "Facility") from a group led by existing strategic shareholders Firelight Investments LLC ("Firelight") a company controlled by Pierre Lassonde (an insider of the Company), Beedie Investments Ltd. ("Beedie") and other arm's length parties (collectively with Firelight and Beedie, the "Lenders"). The Facility will provide ATEX additional financial flexibility to fund the Company's ongoing work programs and provide general working capital. Under the terms of the Credit Agreement, the Company will have access to up to USD 15 million in two tranches, with the USD 10 million first tranche expected to be advanced to the Company within the next week.

Following the advancement of the first tranche, the Company may then draw an additional USD 5 million under the Credit agreement in a second tranche, provided such funds are drawn at least three months prior to the Maturity Date (as defined below). All amounts outstanding under the Facility will bear interest at a rate of 6.0% per annum and all outstanding principal and accrued interest are due and payable to the Lenders on the two year anniversary of the Credit Agreement (the "Maturity Date"). In addition, the Company may repay any principal and interest outstanding under the Facility in advance without penalty.

The Facility is unsecured. In connection with the Facility, the Company will issue non-transferable warrants (the "Facility Warrants" and each individually, a "Facility Warrant") to purchase an aggregate of 15,000,000 common shares of the Company to the Lenders on a pro rata basis, with each Facility Warrant entitling the holder to acquire one common share of the Company (each, a "Facility Warrant Share") at an exercise price of $1.30 per Facility Warrant Share until the Maturity Date. The Facility Warrants will be issued in connection with funding of the first tranche.

Proceeds from the Facility will be used to fund the exploration and development of the Company's Valeriano Copper Gold Project (including drilling, assays and working capital needs related thereto), completion of an updated resource study, and for general working capital and administrative purposes consistent with the Company's current practices. Credit Agreement were not agreed upon until shortly prior to closing of the Credit Agreement. Exercise of Warrants: In connection with the parties entering into the Credit Agreement, as a further show of support for the Company's continued exploration of the Valeriano Project, existing significant shareholders, certain of the Lenders and Firelight have agreed to exercise additional purchase warrants ("Warrants") for common shares of the Company for aggregate consideration to the Company of over CAD 2.5 million.

In addition, certain members of management and other existing shareholders of the Company have also agreed to exercise Warrants for aggregate additional consideration to the Company of over CAD 2.9 million. Following such exercises, and together with the Facility described herein, the Company will have access to over USD 19 million of capital to continue the development of the Valeriano Project.