Mr. Warren Stanyer reports

ALX RESOURCES CORP. RECEIVES SHAREHOLDER APPROVAL FOR THE PREVIOUSLY ANNOUNCED PLAN OF ARRANGEMENT WITH GREENRIDGE EXPLORATION INC.

ALX Resources Corp. has released the results of matters voted on at the company's annual general and special meeting of shareholders of the company held this morning at 10 a.m. (Vancouver time). At the meeting, shareholders were asked to vote on resolutions approving, among other things, the acquisition by Greenridge Exploration Inc. of all of the outstanding and issued common shares of ALX by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). The resolutions to approve the arrangement were subject to the approval of 66-2/3 per cent of votes cast by shareholders. The arrangement resolution was approved by 85.08 per cent of the shareholders present or represented by proxy at the meeting. All matters put before the shareholders at the meeting, including the arrangement resolution, were approved.

A summary of the votes cast by the shareholders at the meeting are shown in the attached table.

The arrangement resolution and all other matters considered at the meeting are described in greater detail in the company's management information circular dated Oct. 28, 2024, available under ALX's profile on SEDAR+ and on the company's website.

Information regarding the procedure for exchange of ALX shares for Greenridge shares is provided in the circular. The circular and accompanying letter of transmittal and election form are available on SEDAR+ under the company's profile on SEDAR+. Registered shareholders who have not already done so must complete and sign the letter of transmittal and return it, together with the certificate(s)/DRS (direct registration system) advice(s) representing their ALX shares and any other required documents and instruments, in accordance with the procedures set out in the letter of transmittal. Non-registered shareholders who hold their ALX shares through a broker, investment dealer, bank, trust company, custodian, nominee or other intermediary or depository, who have not already submitted a letter of transmittal, should contact their intermediary for instructions and assistance.

No shareholder vote to approve the arrangement is required by the shareholders of Greenridge. The arrangement remains subject to the receipt of certain regulatory and court approvals, including the approvals of the TSX Venture Exchange (TSX-V) to delist the ALX shares, the final approval of the British Columbia Supreme Court and other closing conditions customary in transactions of this nature. The arrangement is expected to close on or about Dec. 13, 2024.

About the arrangement

The details of the arrangement between ALX and Greenridge were announced in ALX's news release of Oct. 11, 2024, which followed the execution of a binding arrangement agreement between ALX and Greenridge that received unanimous approval from the board of directors of ALX on Oct. 10, 2024.

Under the terms of the arrangement agreement, each shareholder will receive 0.045 common share of Greenridge in exchange for each ALX common share held. Upon completion of the arrangement, existing Greenridge and shareholders will own approximately 75.2 per cent and 24.8 per cent, respectively, of the common shares of the combined entity, which will retain the name of Greenridge.

About ALX Resources Corp.

ALX is based in Vancouver, B.C., Canada, and its common shares are listed on the TSX-V 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 in Canada, which include uranium, lithium, nickel, copper 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, diamond deposits and historical production from base metals mines.

ALX's uranium holdings in Northern Saskatchewan include 100-per-cent interests in the Gibbons Creek uranium project (currently the subject of an option earn-in agreement with Trinex Minerals Ltd., which can earn up to a 75-per-cent interest in two stages), 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 (currently the subject of an amended property agreement that would increase ALX's interest to 25 per cent after fulfilling certain conditions).

ALX also owns 100-per-cent interests in the Firebird nickel project, 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. 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 in 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).

ALX owns a 50-per-cent interest in eight lithium exploration properties staked in 2022-2023, 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.

We seek Safe Harbor.