ALX Resources Corp. announce the completion of a surface prospecting program in October 2023 at its 100%-owned McKenzie Lake Uranium Project ("McKenzie Lake", or the "Project") located in the southeastern Athabasca Basin area of northern Saskatchewan, Canada. Access to the Project in October 2023 was gained by helicopter and supported a three-person geological crew for prospecting. Weather conditions limited the amount of field work that could be completed; however, the crew was able to spend all or portions of 6 days prospecting in the discovery area of Boulder #1 and several other target areas identified from the 2021 airborne radiometric survey. Boulders or outcrops of interest were sampled and measured for radioactivity with a hand-held RS-125 Super-SPEC gamma-ray spectrometer (RS-125), which displays radioactivity in counts per second Sample 149616, collected in 2021 from Boulder #1, is interpreted from the geochemical assay results to be derived from a calcareous arkose or possibly calc-silicate rock that forms part of the Wollaston Domain metasediments. The geochemical results from sample 149616 returned 844 parts per million ("ppm") uranium (total digestion) with a corresponding uranium assay of 0.101% U3O8. The 2023 prospecting program revisited this boulder sample and excavated the overburden cover over the boulder to gain a better understanding of the nature of this occurrence. This revealed that it was a much larger boulder than originally suspected from the 2021 prospecting program - the boulder is approximately 0.4
by 0.6 metres in top surface area and least 30 centimetres thick. The excavation of Boulder #1 also revealed that the uranium mineralization is associated with
hydrothermal hematite alteration and a light yellowish-green alteration that is believed to be a secondary hydrothermal alteration that is often associated with uranium mineralization. Furthermore, it was observed that the boulder is very angular, which indicates that it has probably not moved very far from the original bedrock source. A second highly-radioactive boulder (Boulder #2), which measured between 4,000 and 16,000 cps on the RS-125, was discovered in another target area that was prioritized for follow-up because of an
anomalous radiometric response detected in the 2021 airborne radiometric survey. Boulder #2, discovered beneath overburden cover, is located approximately 2.4 kilometers west-southwest of Boulder #1. The boulder is a dark red (hematite altered) pegmatitic syenite and approximately 1.2 x 1.2 metres in surface area. The angular to sub-angular shape of the boulder suggests that it has not been transported very far from its original bedrock location.