Ms. Gwen Preston reports

ALEX METALS ANNOUNCES LISTING ON THE OTCQB UNDER THE SYMBOL "ALXMF"

Alex Metals Corp.'s common shares commenced trading on the OTCQB Venture Market in the United States, effective Oct. 19, 2026, under the symbol ALXMF.

"Alex Metals was created because we see such strong mineral potential in Alaska and that U.S. focus made clear the need to list on the OTCQB as soon as possible after listing on the TSX-V," said Gwen Preston, president and chief executive officer. "With results from 6,200 metres of drilling this summer testing four targets across two projects expected soon, we are pleased that our stock is now visible and accessible to investors trading in Canada and the United States."

The OTCQB Venture Market is recognized as a premier U.S. marketplace for early-stage and developing companies that meet high financial reporting standards and maintain current public disclosure. Listing on the OTCQB is expected to provide Alex Metals with enhanced visibility and convenience of trading for U.S.-based investors, broadening the company's shareholder base and improving overall liquidity.

Market making

Alex Metals also announces that it has entered into an agreement with Ventum Financial Corp. to provide services as a market-maker. Ventum is headquartered in Vancouver, B.C., and is a full-service securities dealer that provides assistance to companies in accessing capital markets and enhancing their corporate profiles. All funds to be used for the market-making services will be provided by Ventum in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable securities laws.

Under the agreement, the company will pay Ventum a cash fee of $4,000 plus applicable taxes per month, with the first payment due upon execution of the agreement. The fees payable to Ventum will be financed from the company's working capital. Ventum will not receive any securities of the company as compensation. The initial term of the agreement is three months from the date of execution with an option to renew. It is anticipated that the total costs payable to Ventum by the company for the initial term will be approximately $12,000, plus applicable taxes. Ventum will assist in maintaining active and orderly trading in the market for the company's securities in support of market liquidity and depth. Ventum is an arm's-length party to the company. Ventum does not currently have any interest in the company or the securities of the company, but Ventum may acquire securities of the company in connection with the market-making services. The engagement of Ventum is subject to the approval of the TSX-V.

Investor relations manager

The company also announces that it has entered into an employment agreement with Taylor Ross as the company's investor relations manager dated Sept. 28, 2026. Pursuant to the employment agreement, Ms. Ross has been granted 75,000 incentive stock options at an exercise price of 70 cents per share, exercisable for five years and vesting in accordance with the policies of the TSX-V. Ms. Ross is an arm's-length party to the company and, as of the date of this news release, other than the incentive stock options described above, does not hold any securities of the company. Ms. Ross's employment is subject to the terms of her employment agreement and the policies of the TSX-V. Her responsibilities include communicating with shareholders and the investment community and maintaining the company's corporate profile.

About Alex Metals Corp.

Alex Metals is a minerals exploration company primarily focused on its gold-silver-zinc-copper projects in southeastern Alaska, United States. Alex Metals' objective is to identify, acquire and explore high-quality mineral assets -- with a particular focus on high-grade volcanogenic massive sulphide mineralization -- in pursuit of discoveries that have potential to achieve critical mass of size and grade to advance to resource development and feasibility studies.

Alex Metals' principal mineral projects are the KSO project, which covers 1,413.6 hectares (3,492.9 acres), and the Wodski project, which covers 1,354.1 hectares (3,346 acres), both located in southeastern Alaska.

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