Mr. Warren Stanyer reports

ALX RESOURCES CORP. INCREASES PRIVATE PLACEMENT FINANCING TO $3.0 MILLION

Due to strong demand, ALX Resources Corp.'s non-brokered private placement announced today of flow-through (FT) units and non-flow-through (NFT) units has been increased for gross proceeds of up to $3-million. The offering will be available to Canadian and international accredited investors. Red Cloud Securities Inc., of Toronto, Ont., has agreed to act as a finder for ALX for the offering.

Up to 13,333,333 FT units are offered at a price of 10.5 cents per FT unit, each unit consisting of one flow-through common share and one-half of one non flow-through common share purchase warrant, and up to 16,842,105 NFT units are offered at a price of 9.5 cents per NFT unit, each unit consisting of one common share and one common share purchase warrant. One whole common share purchase warrant from the FT units will entitle the holder to purchase one non-flow-through common share of the company at a price of 14 cents for a period expiring 24 months following the closing date of the offering. One common share purchase warrant from the NFT units will entitle the holder to purchase one non-flow-through common share of the company at a price of 14 cents for a period expiring 24 months following the closing date of the offering.

Finders' fees will be payable to Red Cloud and other qualified finders in connection with the offering, consisting of 7.0 per cent in cash and 7.0 per cent in finders' warrants, with each finder's warrant exercisable at price of 9.5 cents for a period expiring 24 months following the closing date of the offering. All the securities issuable will be subject to a four-month hold period from the date of closing, which is expected to occur on or about Oct. 8, 2021.

Proceeds from the sale of FT units will be used for exploration programs on the company's Saskatchewan uranium and gold properties, and on its Ontario nickel and copper properties. Proceeds from the sale of NFT units will be used for general working capital.

About ALX Resources Corp.

ALX is based in Vancouver, B.C., Canada, and its common shares are listed on the TSX Venture Exchange under the symbol AL, on the Frankfurt Stock Exchange under the symbol 6LLN and in the United States OTC market under the symbol ALXEF.

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The company uses the latest exploration technologies, and it holds interests in over 200,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine and production from base metals mines, both current and historical.

ALX holds interests in a number of uranium exploration properties in Northern Saskatchewan, including a 20-per-cent interest in the Hook-Carter uranium project, located within the uranium-rich Patterson Lake Corridor, with Denison Mines Corp. (80-per-cent interest) operating exploration since 2016, a 40-per-cent interest in the Black Lake uranium project (a joint venture with UEX Corp. and Orano Canada Inc.), and 100-per-cent interests in the Gibbons Creek uranium project and the Sabre uranium project.

ALX also owns 100-per-cent interests in the Firebird nickel project (now under option to Rio Tinto Exploration Canada Inc., which can earn up to an 80-per-cent interest), the Flying Vee nickel/gold and Sceptre gold projects, and can earn up to an 80-per-cent interest in the Alligator Lake gold project, all located in Northern Saskatchewan, Canada. ALX owns, or can earn, up-to-100-per-cent interests in the Electra nickel project and the Cannon copper project, located in historic mining districts of Ontario, Canada, the Vixen gold project (now under option to First Mining Gold Corp., which can earn up to a 100-per-cent interest in two stages), and in the Draco VMS (volcanic massive sulphide) project in Norway.

We seek Safe Harbor.