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ALX Resources Corp
Symbol AL
Shares Issued 234,383,956
Close 2023-09-07 C$ 0.03
Market Cap C$ 7,031,519
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ALX Resources increases exploration crew size at Hydra

2023-09-08 11:23 ET - News Release

Mr. Warren Stanyer reports

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

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

ALX resumed surface exploration in the northeastern area of Hydra, at the Python East and Python West subprojects, in the third week of August, 2023. A total of 37 samples were collected from outcrop and boulders during the Python East and Python West work programs, all of which are currently in shipment. Following the conclusion of the prospecting program in the eastern Hydra area, ALX's geological team mobilized back to the western Hydra area and began surface exploration at the Cobra and Viper projects on Sept. 5, 2023. Exploration in the western area of Hydra was halted on June 4, 2023, by order of the Government of Quebec due to the high forest fire risk, a restriction which has now been lifted due to increased rainfall in the region.

Exploration at the Cobra, Viper, Nike, Echo and Sprite subprojects is planned to continue until the commencement of the annual moose hunting season by the Cree Nation of Wemindji, which occurs from Sept. 15 to Oct. 15. In the meantime, ALX has expanded the size of its geological crew to cover as much ground as possible on its properties and, weather permitting, plans to return to Hydra to continue prospecting for LCT pegmatites after Oct. 15, 2023.

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, Whabouchi and Corvette lithium deposits, and numerous other lithium showings.

The Hydra subprojects were originally 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. A proprietary artificial intelligence process for pegmatite detection by KorrAI of Halifax, N.S., is continuing to prioritize target definition for the 2023 prospecting program.

To view maps and more information on Hydra, visit the company's website.

National Instrument 43-101 disclosure

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

About ALX Resources Corp.

ALX is based in Vancouver, B.C., Canada.

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Canada, which include lithium, uranium, 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 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 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 volcanogenic massive sulphide project in Norway.

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