Mr. Warren Stanyer reports

ALX RESOURCES CORP. RESUMES LITHIUM EXPLORATION IN JAMES BAY REGION, QUEBEC

ALX Resources Corp. has provided an update on its lithium exploration activities at the Hydra lithium project, located in the Eeyou Istchee/James Bay region of Quebec, Canada. Hydra is the subject of a 50-per-cent/50-per-cent joint venture between ALX and Forrestania Resources Ltd. of West Perth, Australia, formed to explore for lithium-cesium-tantalum-bearing (LCT) pegmatites, with ALX as operator.

The prospecting program that was suspended in early June, 2023, due to unprecedented forest fire conditions has resumed in the northeastern area of Hydra. This area remains unaffected by the fires. The ALX geological crew has mobilized to the area of the Python East and Python West subprojects, where wilderness lodge accommodations were secured. The lodge is serviced by air and serves as a base for the helicopter contracted for the work program. Prospecting is guided by the use of satellite imagery and spectral analysis for lithium and associated pathfinder elements. The work program at Python East and Python West is planned to continue into early September, 2023.

ALX utilized an artificial intelligence (AI) search of Quebec government assessment files to locate the Python West lithium showing reported during a historical uranium exploration program. A 2008 sample from the Python West pegmatite returned an anomalous value of 330 parts per million lithium, a showing that will be followed up in the current prospecting program.

Forrestania shares ALX's opinion that Hydra holds potential for LCT pegmatites, supported by the encouraging exploration and development results from nearby projects. Patriot Battery Metals Inc. has reported its maiden National Instrument 43-101 compliant inferred mineral resource estimate for its Corvette lithium project consisting of 109,242,000 tonnes at an average grade of 1.42 per cent Li2O (lithium oxide) and 160 parts per million Ta2O5 (tantalum pentoxide) containing 1,551,000 tonnes Li2O and 3,835,000 tonnes lithium carbonate equivalent. ALX's Volta subproject lies 20 kilometres to the east of the Corvette deposit and is one kilometre north of the Corvette east property boundary.

The Viper and Cobra subprojects are located 50 kilometres north of Q2 Metals Corp.'s Mia lithium property, where numerous spodumene-bearing pegmatite outcrop samples have returned significant lithium grades of up to 4.37 per cent Li2O. Both Viper and Cobra host similar greenstone belt settings.

About Hydra

Hydra consists of eight subprojects totalling 29,262 hectares (72,306 acres) known as Volta (4,751 hectares), Echo (5,566 hectares), Nike (2,462 hectares), Sprite (3,437 hectares), Cobra (4,249 hectares), Viper (1,280 hectares), Python East (3,218 hectares) and Python West (4,298 hectares), located within a fertile lithium exploration district that hosts the James Bay, Rose and Whabouchi lithium deposits and numerous other lithium showings.

The ALX subprojects were selected for staking based upon the presence of historical lithium, cesium and tantalum lake sediment anomalies and by a review of public-domain geological mapping. ALX utilized an artificial intelligence (AI) search of Quebec government assessment files that found the Python West lithium showing in a pegmatite discovered during a historical uranium exploration program. A 2008 sample from the Python West pegmatite returned an anomalous value of 330 parts per million lithium. A proprietary AI process for pegmatite detection by KorrAI of Halifax, N.S., is continuing to prioritize target definition for the 2023 prospecting program.

National Instrument 43-101 disclosure

The technical information in this news release has been reviewed and approved by John Charlton, PGeo, a consultant to ALX, who is a qualified person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

Management cautions that historical results were collected and reported by operators unrelated to ALX and have not been verified nor confirmed by its qualified person, but they create a scientific basis for continuing work in the Hydra project area. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on ALX's mineral properties.

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 U.S. OTC (over-the-counter) 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, lithium, nickel-copper-cobalt and gold projects. The company uses the latest exploration technologies and holds interests in over 220,000 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 owns a 50-per-cent interest in eight lithium exploration properties staked in 2022 to 2023 collectively known as the Hydra lithium project, located in the James Bay region of Northern Quebec, Canada; a 100-per-cent interest in the Anchor lithium project in Nova Scotia, Canada; and 100-per-cent interests in the Crystal lithium project and the Reindeer lithium project, both located in Northern Saskatchewan, Canada.

ALX's uranium holdings in Northern Saskatchewan include 100-per-cent interests in the Gibbons Creek uranium project, the Sabre uranium project, the Bradley Lake uranium project, and the Javelin and McKenzie Lake uranium projects; a 40-per-cent interest in the Black Lake uranium project (a joint venture with Uranium Energy Corp. and Orano Canada Inc.); and 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) as operator of exploration since 2016.

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 project and the Sceptre gold project 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 the Draco VMS (volcanogenic massive sulphide) project in Norway.

We seek Safe Harbor.