Mr. Warren Stanyer reports

ALX RESOURCES CORP. DETECTS SGH GEOCHEMICAL URANIUM ANOMALY AT THE GIBBONS CREEK URANIUM PROJECT, ATHABASCA BASIN, SASKATCHEWAN

ALX Resources Corp. has received results from a soil gas hydrocarbon (SGH) geochemistry survey carried out on its 100-per-cent-owned Gibbons Creek uranium project located in the northern Athabasca basin near the town of Stony Rapids, Sask. The SGH survey was designed to collect detailed geochemical signatures over fault structures and surface expressions of uranium where the company previously intersected basement-hosted uranium mineralization grading 0.13 per cent U3O8 (triuranium octoxide) over 0.23 metre from 107.67 m to 107.90 m in drill hole GC15-03, and over a strong radon anomaly that was detected on surface by a predecessor company in 2013.

Two thousand twenty-three SGH geochemical survey

SGH is an analytical method developed by Activation Laboratories Ltd. of Ancaster, Ont., Canada, that is designed to detect subtle geochemical anomalies emanating from a buried source. In November, 2023, ALX collected 278 SGH soil samples over an approximate 3.4-square-kilometre area within the 2023 Gibbons Creek ground magnetic survey grid to assist in developing new drill targets in previously untested areas. The 2023 SGH survey was successful in identifying a strong uranium anomaly in a structurally complex area of the project.

The 2023 SGH uranium anomaly covers the area of ALX's 2015 mineralized drill hole GC15-03 and a second mineralized hole (GC-15) drilled in 1979 by Eldorado Nuclear Ltd. (a predecessor company of Cameco Corp.), which intersected 0.152 per cent U3O8 over 0.13 metre from 134.11 m to 134.24 m. The outline of the uranium anomaly as delineated by Actlabs is depicted as a roughly oval shape measuring approximately 500 metres wide by 1,000 metres long, with the majority of its surface area untested by historical drill holes. In combination with the fault structures defined by ALX's walking mag survey in late 2023, the SGH survey results have provided compelling evidence for new drill targets at Gibbons Creek.

ALX has an active drill permit for Gibbons Creek, good until April, 2024, and is currently planning a diamond drilling program for the winter of 2024.

About Gibbons Creek

Gibbons Creek consists of seven mineral claims comprising 13,864 hectares (34,259 acres) located along the northern margin of the Athabasca basin. The project is located in a region hosting numerous historical uranium occurrences. ALX holds an exploration permit for Gibbons Creek, which allows for up to 20 diamond drill holes totalling approximately 5,000 metres, along with ground-based geophysics, prospecting and geochemical sampling. Access to Gibbons Creek is via roads and trails that lead from the community of Stony Rapids, Sask., which is connected to all-weather Highway 905, thereby creating flexibility for either summer or winter exploration programs. Stony Rapids is an excellent base for exploration activities and can provide accommodations, fuel and field supplies, and hosts a year-round airport with regularly scheduled flights to and from Saskatoon, Sask.

Statement of qualified person

Geochemical analyses on samples from ALX's 2015 drill hole described in this news release were carried out by SRC Analytical Laboratories in Saskatoon, Sask., using inductively coupled plasma optical emission spectrometry (ICP-OES) and inductively coupled plasma mass spectrometry (ICP-MS) methods. Eldorado's 1979 geochemical analyses were carried out by accredited laboratories of that exploration era, which are believed to be reliable.

The technical information in this news release has been reviewed and approved by Robert Campbell, PGeo, 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, 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 on the 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 in Canada, which include uranium, lithium, nickel-copper-cobalt and gold projects. The company uses the latest exploration technologies and holds interests in over 240,000 hectares of prospective lands in Saskatchewan, a stable 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 (a joint venture with Forrestania Resources Ltd. of West Perth, Australia), 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 (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, and 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.

We seek Safe Harbor.