Mr. Warren Stanyer reports

ALX URANIUM CORP. CLOSES FINAL TRANCHE OF FLOW-THROUGH PRIVATE PLACEMENT

ALX Uranium Corp. closed on Dec. 30, 2019, the second and final tranche of a non-brokered private placement consisting of 1.23 million flow-through (FT) units of the company for gross proceeds of $61,500. A total of 11,294,623 FT units were sold in two tranches for gross proceeds to the company of $564,731.

The FT units were sold in the offering at a price of five cents per FT unit consisting of one flow-through common share and one non-flow-through common share purchase warrant. One common share purchase warrant will entitle the holder to purchase one non-flow-through common share of the company at a price of eight cents for a period expiring 36 months following the closing dates of each tranche of the offering.

The securities issued in the first tranche of the offering are subject to a hold period of four months plus one day from the closing date and cannot be traded until April 18, 2020 (see ALX's news release dated Dec. 17, 2019). The securities issued in the second tranche are subject to a hold period of four months plus one day from the closing date and cannot be traded until May 1, 2020. The proceeds from the sale of FT units will be used for exploration programs on the company's Saskatchewan and Ontario mineral properties.

About ALX Uranium Corp.

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Northern Saskatchewan, Canada, a superior mining jurisdiction.

We seek Safe Harbor.