ALX Resources Corp. announced an update on its lithium exploration activities at the Hydra Lithium Project ("Hydra") located in the Eeyou Istchee-James Bay region of Quebec, Canada. Hydra is the subject of a 50%-50% joint venture between ALX and Forrestania Resources Limited of West Perth, Australia (" Forrestania") formed to explore for lithium-cesium-tantalum ("LCT") bearing pegmatites, with ALX as operator.

The prospecting program that was suspended in early June 2023 due to unprecedented forest fire conditions has resumed in the northeastern area of Hydra. This area remains unaffected by the fires. The ALX geological crew has mobilized to the area of the Python East and Python West sub-projects where wilderness lodge accommodations were secured.

The lodge is serviced by air and serves as a base for the helicopter contracted for the work program. Prospecting is guided by the use of satellite imagery and spectral analysis for lithium and associated pathfinder elements. The work program at Python East and Python West is planned to continue into early September 2023.

ALX utilized an artificial intelligence ("AI") search of Quebec government assessment files to locate the Python West lithium showing reported during a historical uranium exploration program. ALX owns a 50% interest in eight lithium exploration properties staked in 2022-2023 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada, and 100% interests in the Crystal Lithium Project and the Reindeer Lithium Project, both located in northern Saskatchewan, Canada. ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project, the Bradley Uranium Project, and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook- Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp.

(80% interest) as operator of exploration since 2016. ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80%. interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada; ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Dr. VMS Project in Norway.