Mr. Michael England reports

ALIX ANNOUNCES CREATION OF SUBSIDIARY UPCYCLE METALS FOR RECYCLING LITHIUM-ION BATTERIES

Alix Resources Corp. has formed a new subsidiary, Upcycle Metals Corp. The goal of Upcycle is to establish a plan of action toward the development of a global recycling operation aimed at retrieving battery metals and materials used in lithium-ion batteries.

A typical lithium-ion battery contains about 27.5 per cent LiCoO2 (lithium cobalt oxide), 24.5 per cent steel/nickel, 14.5 per cent copper/aluminum, 16 per cent carbon, 3.5 per cent electrolyte and 14 per cent polymer. The goal of the new venture will be to acquire spent lithium-ion batteries and then extract from them the lithium, cobalt, manganese, aluminum and copper for reuse, utilizing an existing technology. Additionally, this activity will provide an audit trail for recycled cobalt, which is currently categorized as a conflict mineral.

Christopher Ecclestone, chief executive officer of Alix, stated: "The rising tide of lithium-ion batteries, their finite usable life and the growing scarcity of some of the component metals/minerals means that the moment has arrived to ramp up a recycling effort. Battery manufacturers prefer to have third parties amass and recycle these metals, and automobile manufacturers certainly do not want to be in the recycling business. As these batteries reach their end of life, we believe there is an opportunity to economically recycle metals, reducing the supply chain strain on some critical metals such as cobalt and lithium. Currently, the lithium-ion battery recycling market is in its infancy and represents an excellent opportunity to capture market share and become a leader in a growing market.

"Also, there are clear advantages for governments in the West to have batteries recycled in their economic sphere rather than have these batteries, and hence their constituent strategic minerals, bleeding off towards China.

"We will be target marketing cradle-to-grave battery materials management services to OEM [original equipment manufacturing] automaker(s) that will highlight and differentiate the entrance of Upcycle Metals into the marketplace."

Mike England, president of Alix, stated: "This new venture is intended to complement the impressive portfolio of lithium projects currently being explored by Alix Resources. With the new discovery in Mexico going full steam ahead via joint venture partner Lithium Australia, the receipt of drill permits in Quebec for the Quebec lithium mine west claims and Jackpot Lithium in Ontario being assessed for an upcoming work program, the company is very poised to deliver a strong flow of news to investors in the new year."

The evolution of this new venture remains at an early stage. To date, Upcycle Metals has not entered into any letters of intent or definitive agreements with respect to the acquisition of spent batteries or the development of an upcycling plant for same. Upcycle Metals has not sought approvals from local government or state authorities in its target area for the initial plant given the preliminary stages of this development. The company will provide further corporate updates as to this new venture as soon as they become available.

We seek Safe Harbor.