ALX Resources Corp. announced an update on its lithium exploration activities at the Hydra Lithium Project (Hydra) in the James Bay region of Quebec, Canada, and the results of a biogeochemical survey carried out at the Anchor Lithium Project (Anchor) located in Nova Scotia, Canada. ALX has temporarily suspended its 2023 prospecting program at Hydra, located in the Eeyou Istchee- James Bay region of Quebec, following an emergency fire evacuation notice from the Ministère des Ressources naturelles et des Forêts, or, the Ministry of Natural Resources and Forests (the "Ministry").

In the interest of public safety due to the high-risk conditions in the region, the Ministry has banned forest access on Crown land and has ordered the closure of roads to help prevent forest fires. In accordance with the notice, ALX has demobilized its helicopter and field crew from its base at Radisson, Quebec. The Company will closely monitor the situation in the coming weeks and looks forward to resuming exploration at Hydra when conditions permit.

ALX's exploration goal at Anchor is to discover new lithium-bearing pegmatites similar to those found at the nearby Brazil Lake Pegmatite Deposit ("Brazil Lake"). ALX initiated surface work at Anchor in late 2022 and carried out a biogeochemical sampling survey at the Drake sub-project in the form of tree bark sampling. This geochemical technique has proved to be successful in areas of the Meguma Terrane where there is little to no outcrop exposure.

ALX's geological team collected one hundred and thirty (130) 50-gram bark samples from red spruce trees in a 1.0 kilometre grid pattern. The analytical results were received in May 2023 and show a pronounced lithium-cesium-tantalum ("LCT") "stacking" anomaly in the southern portion of the Drake claim block. Other LCT anomalies were identified in the central part of Drake from the biogeochemical survey that deserve follow-up work.