Mr. Warren Stanyer reports

ALX URANIUM CORP. ACQUIRES DRACO VMS PROJECT IN NORWAY

ALX Uranium Corp. has acquired mineral claims prospective for copper-zinc-gold-silver mineralization at its 100-per-cent-owned Draco volcanic massive sulphide (VMS) project located in the Grong mining district of central Norway. The company staked 10 claims totalling approximately 5,959 hectares in May, 2019, following its study of surface mineral showings integrated with historical airborne magnetic and electromagnetic survey data, which identified trends that could represent potential zones of volcanogenic massive sulfide-style (VMS) mineralization.

Draco comprises three subprojects:

• Valkyrie comprises six claims totalling 4,350 hectares, with target areas located approximately nine kilometres west-southwest of the past-producing Joma mine (reported historical resources of 22.5 million tons of 1.6 per cent copper and 1.5 per cent zinc). Mining from 1972 to 1998 at the Joma mine produced 171,000 tonnes copper, 166,000 tonnes zinc, and an unknown amount of gold and silver from 11.45 million tonnes of ore.
• Fero comprises two claims totalling 813 hectares, with target areas located approximately one kilometre from the Skiftesmyr VMS deposit. Indicated mineral resources at Skiftesmyr total 3.51 million tonnes of 1.0 per cent copper, 1.5 per cent zinc, 0.1 gram per tonne (g/t) gold and 2.5 g/t silver and inferred mineral resources total 570,000 tonnes of 1.0 per cent copper, 1.6 per cent zinc, 0.1 g/t gold and 2.7 g/t silver, with each estimate calculated using a cut-off grade of 0.5 per cent copper.
• Vektor comprises two claims totalling 796 hectares, with target areas located approximately five kilometres north-northwest of the past-producing Gjersvik mine.

About Norway and the Draco VMS projects

Norway's mineral endowment lies within the Fennoscandian shield, which shares a similar geology and metallogeny with ancient shields in Canada, Australia, Brazil and South Africa. Mining from massive sulphide deposits in Norway dates back to the 17th century -- examples include the giant, world-class Lokken deposit (Cyprus-type VMS, 24 million tonnes mined producing 552,000 tonnes of copper and 432,000 tonnes of zinc with up to 0.2 g/t gold and 16 g/t silver), and the Roros district (mining of 12 deposits produced 175,000 tonnes copper and 275,000 tonnes of zinc with significant silver from 6.5 million tonnes) and Folldal district (mining of four deposits produced 60,900 tonnes copper and 115,200 tonnes of zinc from 4.45 million tonnes) over more than 300 years. The closure of the Joma mine in 1998, located near ALX's Valkyrie property, ended an era of more than 350 years of base metals mining in the Scandinavian Caledonides.

The Grong-Stekenjokk area of central Norway and west-central Sweden is one of the most important areas for copper-zinc VMS deposits in the Caledonides. Four mines have operated in the area (Stekebjokk, Skorovas, Joma and Gjersvik) with a total production of 24.5 million tonnes in the period from 1952 to 1998. In the last four decades, there has been a decided lack of exploration for minerals in Norway, due to a greater focus on oil and gas exploration. ALX recognized this opportunity and applied its first-pass geoscientific techniques to select prospective areas within underexplored open ground. The company has engaged a geophysical consultant to perform detailed modelling on the electromagnetic trends within the three Draco subprojects and plans ground truthing of anomalies and follow-up ground geophysical surveys at the project.

The technical information in this news release has been reviewed and approved by Tor Bruland, professional geoscientist, a consulting geologist to ALX, who is a qualified person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Readers are cautioned that the technical information described in this news release is historical in nature; however, the information is deemed credible and was produced by professional geologists in the years discussed.

About ALX Uranium Corp.

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Northern Saskatchewan, Canada, a superior mining jurisdiction. The company executes well-designed exploration programs using the latest technologies and has interests in over 200,000 hectares in Saskatchewan, a province which hosts the richest uranium deposits in the world, a producing gold mine and demonstrates potential for economic base metals deposits. The company also reviews exploration opportunities in other jurisdictions and recently acquired base metals properties in Norway and a gold property in Ontario.

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