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April 25, 2023
ALX Resources Corp.(TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to provide an update on its 2023 exploration schedule at its Hydra Lithium Project ("Hydra" or the "Project") located in James Bay Region of the province of Quebec, Canada. The focus of the program is the exploration of lithium-cesium-tantalum ("LCT") pegmatites through systematic prospecting, geological mapping and geochemical sampling ("Program").
Research plans for 2023near Hydra
ALX contracted a Quebec-based geological consulting firm and a helicopter for the initial phase of the Program. Accommodation in the James Bay region for exploration workers is rare due to the large amount of lithium exploration pending for the spring/summer 2023 season, but the company has secured accommodation and its initial work will be based at Radisson. , Quebec. The scheduled start of the Program is May 31, 2023 and the first phase of the works will last until the beginning of July 2023.
ALX's Hydra Lithium project is exploring in the James Bay region of Quebec
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ALX will use a high-resolution drone during the evaluation of the Hydra subproject to optimize the process of locating and evaluating possible outcrops of pegmatites. Samples will be rapidly traced for analysis whenever possible to provide rapid information on the geochemistry of the sampled pegmatites.
For maps and more information about Hydra, visit our website at:https://alxresources.com/hidra-litio/
Hydra is 100% owned by ALX with no applicable royalties and consists of eight sub-projects totaling 29,263 hectares (72,309 acres) known as Volta (4,806 ha), Echo (5,537 ha), Nike (2,056 ha). ), Sprite (3,438 ha.), Cobra (4,249 ha.), Viper (1,280 ha.), Python West (4,298 ha.) and Python East (3,219 ha.). Subprojects were selected for mapping based on the presence of historical lithium, cesium, and tantalum lake sediment anomalies and by reviewing public domain geologic maps. ALX used artificial intelligence to search Quebec government appraisal files that found Python West lithium in a pegmatite discovered during a historic uranium exploration program. A 2008 pegmatite sample showed a value of 330 parts per million lithium.
ALX believes that Hydra is highly prospective for the LCT pegmatites, as suggested by the very positive Corvette lithium deposit exploration reports, but is underexplored as historical exploration in the James Bay region has primarily focused on gold and base metals. The James Bay hydroelectric project (total investment by Hydro-Québec is estimated at over CAD 16 billion since the early 1970s) created mineral exploration infrastructure in the form of several all-weather highways, including the Trans- Taiga. Working airstrips are located nearby and provide air support for Hydra.
National Instrument 43-101 Disclosure
The technical information in this release has been reviewed and approved by John Charlton, P.Geo., consultant to ALX, who is a Qualified Person in accordance with Canadian regulatory requirements set forth in National Instrument 43-101.
Management notes that the historical results have been compiled and reported by operators unrelated to ALX and have not been verified or validated by a qualified person, but do provide a scientific basis for ongoing work in the Hydra Project area. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that can be achieved on the ALX mineral properties.
ALX is headquartered in Vancouver, BC, 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 on the OTC market in the United States under the symbol "AL". the symbol "ALXEF". ".
ALX's mandate is to provide shareholders with multiple discovery opportunities by exploring a portfolio of potential mineral properties, including uranium, lithium, nickel, copper, cobalt and gold projects. The company uses the latest exploration technologies and has interests in more than 220,000 hectares of potential land in Saskatchewan, a stable Canadian jurisdiction that is home to the world's highest quality uranium mines, producing both current and historical gold and base metals.
ALX's uranium holdings in northern Saskatchewan include a 100% interest inGibbons Creek uranium project,heSaber Uranium ProjectiLanzailake Mckenzie Uranium Projects,40% participation inUranus Black Lake Project(joint venture with Uranium Energy Corporation and Orano Canada Inc.) and a 20% interest inThe Hook-Carter Uranium Project, located within the uranium-rich Lake Patterson corridor, with Denison Mines Corp. (80% WI) as research operator since 2016.
ALX owns a 100% interest in lithium exploration properties invested in 2022-2023. known asHydra Lithium Project, located in the James Bay region of northern Quebec, Canada, with a 100% interest inlithium anchor project, located in Nova Scotia, Canada, and 100% of the shares inCrystal Lithium Projectireindeer lithium project, both located in Saskatchewan, Canada.
ALX also owns a 100% interest inProject Firebird Nickel(now optioned by Rio Tinto Exploration Canada Inc., which can earn up to 80% interest),flying vnickel/goldigolden scepterprojects and can earn up to 80% interest inalligator Lake Gold Project,all located in northern Saskatchewan, Canada. ALX owns or may earn up to a 100% interest inElectra Nickel ProjectiProject Cannon Copperlocated in the historic mining districts of Ontario, CanadaVixenGold Project(now under the option of First Mining Gold Corp., which can earn up to 100% interest in two phases), and inDraco VMS Projectin Norway.
For more information about the Company, please visit the ALX corporate website atwww.alxresources.comor contact Roger Leschuk, Corporate Communications Manager at: TEL: 604.629.0293 or toll free:866.629.8368, or by email:email@example.com
On behalf of the Board of DirectorsALX Resources Corp.
Warren Stanyer, CEO and President
Statements in this document that are not purely historical are forward-looking statements, including statements about beliefs, plans, expectations, or intentions regarding the future. Forward-looking statements in this press release include: ALX's 2023 exploration plans on the Hydra Lithium project and ALX's ability to continue spending on that project. It is important to note that the Company's actual business results and research results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully fund research on our exploration projects, including drilling; our initial findings in our research projects may prove unworthy of additional expense; raw material prices may not support additional exploration costs; research programs may be delayed or changed due to delays in consultation and engagement activities with First Nations and Métis communities and the results of such consultations;and economic, competitive, governmental, social, public health, environmental and technological factors may affect the Company's operations, markets, products and stock price. Even if we explore and develop our projects, even if quantities of lithium, uranium, nickel, copper, gold or other metals or minerals are discovered, ALX projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended December 31, 2022, which is available on the Company's SEDAR profile atwww.sedar.com. Unless required by law, we will not update these prospective risk factors.
Neither the TSX Venture Exchange nor its regulatory services provider (as that term is defined in the TSX Venture Exchange Rules) accepts responsibility for the adequacy or accuracy of this release.
To view the original version of this press release, visithttps://www.newsfilecorp.com/release/163635
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