ALX Resources Corp. announced that a diamond drilling program is underway at the Alligator Lake Gold Project located approximately 165 kilometres (103 miles) northeast of La Ronge, SK, Canada. The Project consists of five claims totaling 2,973 hectares (7,347 acres) and is prospective for high-grade gold mineralization.

Alligator is the subject of an option agreement where ALX can earn up to an 80% interest in the Project. The 2022 drilling program consists of up to eight (8) NQ-size diamond drill holes totaling approximately 1,000 metres. Primary targets include a target near ALX's 2021 hole AL21-004, which returned 10.67 grams/tonne gold over 0.98 metres from 6.86 to 7.84 metres.

Other 2022 targets are situated near holes AL21-005 (returned 8.44 m of 1.93 g/t Au) and AL21-006, both of which displayed visible gold in the drill core. The 2022 drilling will include testing of two distinct target types for gold mineralization at Alligator: Quartz vein swarms within small-scale folds and flexures associated with shearing; Intrusive-hosted gold mineralization intersected in hole AL21-005. Concurrent with the 2022 drilling program, ALX has contracted an induced polarization/resistivity ("IP/Res") survey totaling 24.3 line kilometres covering the southern extent of the Broken Hammer Shear Zone and its possible intersection with the interpreted Radiant Lake Shear Zone.

ALX's review and digitization of a historical IP/Res survey led to the implementation of the 2022 survey, which is anticipated to provide valuable data for a better understanding of the gold mineralizing system at Alligator. A Max-Min ground electromagnetic ("EM") survey totaling 12.6 line kilometres is also planned as follow-up on historical airborne EM conductors surveyed by Saskatchewan Mining and Development Corporation ("SMDC") in 1981. An outcrop located immediately east of the historical EM conductor was sampled in 1982 by SMDC and returned values of 0.56% and 0.13% copper in two grab samples.