Precious Metals

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced today the completion of a diamond drilling program at the Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near the town of Stony Rapids, Saskatchewan. Three holes were completed for a total of 1,240.3 metres, on two previously untested conductive trends.

2022 Winter Drilling Program

In March 2022, ALX prepared winter trails and drill pads on three target areas located along two geophysical conductors: the Zinger Conductor and the Eclipse Conductor. The two conductors were detected in historical airborne surveys and were computer-modelled by the Company's geophysical consultant to develop new drill targets (see Fig. 1 below).

The southern Zinger Conductor, with 4.7 kilometres of strike length, was first detected by a 2005 MEGATEM survey and confirmed by ALX's 2017 ZTEM survey. A Spatiotemporal Geochemical Hydrocarbon ("SGH") soil survey, carried out in 2021, outlined two specific areas along the Zinger Conductor that were interpreted as being prospective for uranium mineralization, shown below as the locations of drill holes GC22-01 and GC22-02.

A portion of the Eclipse Conductor was first delineated by a 2005 MEGATEM airborne survey, but its full strike length was obscured by the electromagnetic effects of an encroaching powerline. ALX's Maxwell modeling of the highly-conductive anomaly led to the identification of a new uranium target, tested by drill hole GC22-03.

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Fig. 1: Gibbons Creek Uranium Project - 2022 drill targets GC22-01, GC22-02 & GC22-03

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Drill Hole GC22-01

Drill hole GC22-01 (-90 dip) along the southwestern portion of the Zinger Conductor, intersected, high in the sandstone column, mineral alteration (pyrite, siderite, bleaching) and low angle to core axis fracture zones that suggest a steep-dipping structure may project to the sub-Athabasca unconformity at an approximate downhole depth of 345.0 metres. A narrow zone of moderately graphitic pelitic gneiss was intersected between 396 and 400 metres, approximately 41 metres below the unconformity. A basement fault is associated with this graphitic zone (see Fig. 2).

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Fig. 2: Fault within Graphitic Zone in Zinger Conductor - hole GS22-01 at 397.75 metres

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A subsequent borehole electromagnetic ("BHEM") survey indicated that a stronger electromagnetic ("EM") response, probably associated with increasingly-graphitic pelitic rocks, occurs off-hole. The combination of a strong off-hole BHEM response, structures and alteration high in the sandstone, and a graphitic fault zone in the lower basement, are all positive exploration features and follow-up drilling in the area of drill hole GC22-01 will be dependent upon the interpretation of the pending geochemical results.

Drill Hole GC22-02

Drill hole GC22-02 (-80 dip) was collared 1.46 kilometres north-northeast of GC22-01 to test the northeast portion of the Zinger conductor trend. Core from GC22-02 displayed minor mineral alteration and fracture zones in the sandstone. The unconformity was intersected at a downhole depth of 330.27 metres. The basement rocks include garnetiferous pelitic gneiss, similar to the garnetiferous pelitic gneiss intersected in drill hole GC22-01.

Discrete elevated gamma probe peaks, ranging from 670 to 1,206 cps, occur between 293.7 and 300.9 metres. Geochemical analysis of the samples collected over these horizons will help to determine the significance of these unusual gamma probe peaks.

The basement rocks included variably garnetiferous psammitic to psammopelitic gneiss, quartz-feldspar rich units of unknown origin, and garnet-rich pelitic gneiss. Moderately to strongly fractured zones are common between 339 and 436 metres.

Based upon the geology observed in drill holes GC22-02 and GC22-01, it is interpreted that drill hole GC22-02 was collared slightly to the east of the Zinger Conductor, as suggested by the potential dip extension of alteration and fractures in the upper sandstone of drill hole GC22-01 and the graphitic structures in the basement of drill hole GC22-01.

A BHEM survey was carried out in hole GC22-02 and the results showed a similar, but lesser, response to that of GC22-01, that still suggests the presence of a steeply-dipping conductive source located to the northwest of the drill hole. Follow-up drilling in the area drill hole GC22-02 will be dependent upon the interpretation of the pending geochemical results.

Drill Hole GC22-03

Drill hole GC22-03 (-45 dip) was collared to test the south end of the Eclipse Conductor, located approximately 2.7 kilometres northwest of drill hole GC22-02. The hole encountered local zones of sooty pyrite alteration in the upper and middle sandstones and a zone of moderate desilicification in the lower sandstone located closer to the unconformity at 255.54 metres. Moderately fractured and faulted psammitic to semi-pelitic gneiss was intersected in the upper basement. Variably psammopelitic to psammitic gneiss continues to the end of the hole at 341.28 metres. A conductive horizon was not intersected, however, drill hole GC-22-03 could not be completed to its planned depth due to deteriorating winter road conditions, which necessitated the end of the 2022 drill program and subsequent demobilization of the drill and ALX personnel.

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Fig. 3: Drill Hole GC22-03 - Alteration at Unconformity Contact at 255.54 metres

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An unusual bluish-green alteration occurs in centimetre-scale bands immediately below the unconformity (see Fig. 3). The blue-green alteration suggests the possible presence of dravite, a boron-rich mineral, in the drill core. Dravite is an alteration mineral often associated with unconformity-style uranium deposits in the Athabasca Basin. Pending geochemical results will establish whether boron is indeed present in significant amounts in this part of drill hole GC22-02.

A BHEM survey indicated that an EM conductor is located approximately 40 to 65 metres beyond the end of drill hole GC22-03 (see Fig. 4 below). Future drill testing of this target will benefit from the more accurate location of the EM conductor gained from the follow-up BHEM survey.

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Figure 4: Sample of BHEM Geophysical Modeling - Drill Hole GC22-03

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A total of 247 samples were submitted to the Saskatchewan Research Council Geoanalytical Laboratories in Saskatoon, Saskatchewan ("SRC"). Chip samples were submitted to Rekasa Rocks Inc. of Saskatoon, Saskatchewan for portable Short Wave Infra Red (SWIR) spectral analysis to determine clay mineral alteration species. Results will be released after their receipt, compilation, and interpretation.

To view maps and photos of Gibbons Creekclick here

About Gibbons Creek

Gibbons Creek consists of seven mineral claims encompassing 13,864 hectares (34,259 acres) located along the northern margin of the Athabasca Basin. The Project is located in a region hosting numerous historical uranium occurrences. ALX received an exploration permit for Gibbons Creek in June 2021, good until October 2022, that allows for up to 20 diamond drill holes totaling approximately 5,000 metres, along with ground-based geophysics, prospecting, and geochemical sampling. Access to Gibbons Creek is via roads and trails that lead from the community of Stony Rapids, SK, which is connected to all-weather Highway 905, thereby creating flexibility for either summer or winter exploration programs.

Sampling Method and Statement of Qualified Person

The sandstone in all three of the 2022 drill holes was systematically sampled using composite samples collected over 10-metre intervals. Selective sandstone samples were collected from zones of interest, including fracture and alteration zones, as well as within areas with elevated gamma probe results. Continuous systematic sampling was carried out above and below the unconformity. Selective sampling was conducted in the basement rocks over zones of interest, including fracture and alteration zones, and graphitic horizons. To ensure quality control, duplicate and blank samples were regularly inserted into the submitted geochemical sample stream.

The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo., a Director of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX

ALX is based 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 in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX is an active explorer with interests in a number of uranium exploration properties in northern Saskatchewan, including 100% interests in the Gibbons Creek Uranium Project,the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX 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 VeeNickel/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 Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's interim 2022 winter exploration results at the Gibbons Creek Uranium Project, and ALX's ability to continue to expend funds at that project. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations and Metis communities and the results of such consultations;and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, nickel, gold or other metals or minerals are discovered in quantity, ALX's 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, 2021, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

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AL:CA
TSXV:AL

ALX Resources

Overview

ALX Resources Corp. (TSXV:AL,FWB:6LLN,OTC:ALXEF) is dedicated to providing shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickelcoppercobalt and uranium. Using the latest technologies, ALX plans and executes well-designed exploration programs and holds over 200,000 hectares of prospective properties in Saskatchewan and Ontario, Canada. Aiming for international expansion, ALX Resources also has properties in Norway with its Draco VMS project.

Having operations in stable Canadian jurisdictions strategically positions ALX Resources in key exploration areas with strong potential for economic base metals deposits, producing gold mines and the richest uranium deposits in the world. This includes the recently acquired Firebird nickel (formerly Falcon nickel) and Flying Vee nickel-copper-cobalt projects, and the Sceptre gold project, all located in Northern Saskatchewan.

In 2019, ALX Resources acquired the Vixen gold project located in the historic Red Lake Mining District of Ontario, Canada. To date, the Red Lake Mining District has produced over 28 million ounces of gold since mines began production in 1925. Historic gold mines in the Red Lake camp include the Campbell mine, the Red Lake mine, and the Couchenour-Williams mine, which have all been multi-million ounce gold producers.

The Vixen North property lies within the Birch-Uchi greenstone belt, a geological trend located to the northeast of Red Lake. This area hosts numerous historical gold mines and is highly prospective for new showings of gold mineralization. In 2019 and 2020, high-resolution airborne magnetic surveying and site visits were conducted, which confirmed prospective geology and surface gold mineralization.

ALX Resources has demonstrated that key partnerships can increase the potential for success in the company’s primary projects. The company owns a 100 percent interest in the Firebird nickel project, which is now under option to Rio Tinto Exploration Canada Inc. Through an agreement announced in August 2020, Rio Tinto Exploration Canada can earn up to an 80 percent interest in the Firebird nickel project by carrying out C$12 million in exploration expenditures and making cash payments of $125,000 to ALX Resources.

Additionally, the company holds interests in a number of uranium exploration properties in Northern Saskatchewan, including a 20 percent interest in the Hook-Carter uranium project. Denison Mines Corp. purchased an 80 percent interest in Hook-Carter and has been operating exploration since 2016.

The Hook-Carter property measures 24,262 hectares over 82 claims in the southwest part of the Athabasca Basin. Located in the prolific Patterson Lake Corridor, this region hosts new and expanding uranium discoveries, including the Triple R Deposit, Arrow Deposit and the Spitfire Zone. Drilling by Denison in 2018-2019 totaling 11,757 metres in fifteen completed drill holes exhibited the hallmarks of a widespread, intense alteration system.

Along with ALX Resources’ rich portfolio of diverse assets in world-renowned jurisdictions, identifying undervalued and underexplored assets is the company’s strong suit. As early adopters of new methods of exploration, the company embodies innovation with its willingness to utilize new geochemical and geophysical technologies. This includes the use of artificial intelligence recognition methods and other emerging science-focused exploration tools.

ALX Resources has a world-class management team with shareholders who have diverse expertise in mineral and gold exploration. The board of directors and officers of the company currently hold 8.54 million shares representing 5.67 percent of ALX’s issued and outstanding common shares. Holystone Energy Company, a private investment company, owns 25.59 million shares for a 16.98 percent interest. Dundee Corp. (TSX:DCA) and Orano Canada own 11.72 percent and 2.65 percent interests, respectively.

Company Highlights

  • Uses the latest technologies to execute well-designed exploration programs in their primary projects located in the stable jurisdictions of Saskatchewan and Ontario.
  • In October 2019, high grade nickel was located on surface from the company’s first site visit to the Firebird nickel project in Saskatchewan with the additional presence of copper anomalies.
  • Rio Tinto Canada Exploration Inc. recognized Firebird’s potential and through an option agreement announce in August 2020 can earn up to an 80% interest for C$12.0 million in exploration expenditures and cash payments to ALX Resources totaling $125,000.
  • Owns and explores properties within the Red Lake Mining District, a region that has produced over 28 million ounces of gold since mines began production in 1925.
  • High-resolution airborne surveys have been completed in the Red Lake district and the company’s ground sampling programs in 2019-2020 have found gold mineralization on the Vixen gold project with samples ranging up to 23.9 g/t gold.
  • Acquired by staking the Javelin Uranium Project in northern Saskatchewan, Canada with no underlying royalties.

Key Projects

Firebird Nickel

Saskatchewan presents a rich mineral endowment with the presence of uranium, gold, base metals and diamonds. For example, over 1.6 million ounces of gold have been produced at the Seabee gold mine, which has been operating since 1991. Saskatchewan hosts the richest uranium mines in the world and was ranked in the world’s Top Ten mining jurisdictions in a 2019 survey conducted by the Fraser Institute.

ALX Resources has acquired 20,400 hectares at its 100 percent owned Firebird nickel project. Firebird hosts three historical nickel-copper-cobalt deposits: Axis Lake, Rea Lake and Currie Lake. Under the option earn-in granted by the company in 2020, Rio Tinto Exploration Canada can earn up to 80 percent in interest in Firebird.

Strategically positioned, Firebird is located near advantageous infrastructure, including an all-weather road and airport, which are both within 10 kilometers of the property. Its close proximity to the town of Stony Rapids, SK, and access to hydroelectric power offers increased efficiencies for exploration.

ALX Resources is applying modern exploration techniques at Firebird to a rare, undeveloped magmatic nickel sulfide deposit. In October 2019, high-grade nickel ranging up to 3.13 per cent was located in surface rock samples from ALX’s first site visit. Soil and lake sediment samples collected in 2019-2020 showed coincident nickel and copper anomalies over an airborne conductor. These findings increased investor interest in ALX’s exploration endeavors, which eventually led to the option deal with Rio Tinto Exploration Canada.

During the Firebird winter drilling program in 2020, three holes were drilled totaling 600 meters. Nickel-copper mineralization was intersected in two of the three holes, which are promising results for the expansion of this project.

Vixen Gold

The 100 percent owned Vixen gold project is located in the Red Lake Mining District of Ontario and consists of three sub-projects totaling 10,069 hectares staked within the Birch-Uchi greenstone belt, approximately 60 kilometers east of the town of Red Lake, Ontario. The jurisdiction is favourable for exploration, with winter access to Vixen North and a series of roads leading directly to the Vixen South property.

Using the latest imaging technology, ALX carried out a high-resolution airborne magnetic and VLF-EM survey that has collected preliminary data defining an approximate 3,000 meter-long high magnetic trend in conjunction with the newly-identified Vulpin Zone. Additional samples were collected in October 2020 along the iron formation associated with gold mineralization that was mapped in August 2020. ALX’s 2020 rock sampling at the Vulpin Zone showed values of up to 8.41 g/t gold.

Other prospecting targets at Vixen include detailed follow-up of gold mineralization found within a fluorite occurrence southeast of the Vulpin Zone that may represent a genetic phase of porphyry-hosted gold deposition. Recent sampling at the Dickenson Zone located rock samples ranging up to 17.7 g/t gold.

Flying Vee Nickel Project

Like the Firebird nickel project, the Flying Vee nickel project in Saskatchewan is highly-prospective for nickel-copper-cobalt, and hosts a gold showing. Flying Vee is located north of Stony Rapids in an underexplored district with high potential for discovery. With neighboring projects held by companies like Kobold Metals and UEX Corporation, a staking rush occurred in the Spring of 2019. In July 2020, ALX was the first company since 1988 to prospect the Day Lake gold showing at Flying Vee, and samples up to 8.34 g/t gold were found.

Management Team

Warren Stanyer - Chairman and CEO

Warren Stanyer has over 24 years of experience in the mineral exploration industry, focused mostly on uranium in the Athabasca Basin. Stanyer began his career with Pioneer Metals, a diverse explorer for gold, base metals and uranium, with properties in New Mexico, British Columbia, Manitoba and Saskatchewan. In 1999, Pioneer signed an option agreement with Cameco Corporation, which led to the formation of UEX Corporation in 2002. Stanyer held the positions of Corporate Secretary and Vice President of Corporate Development in both Pioneer and UEX, prior to the acquisition of Pioneer by Barrick Gold Corporation in 2006.

In 2008, Mr. Stanyer accepted the role of President and CEO of Northern Continental Resources, a junior exploration company focused on uranium in the Athabasca Basin. He steered the successful sale of the company in 2009 to Hathor Exploration Limited, in competition with Denison Mines.

He became Chairman of Guyana Frontier Mining Corp. in December 2010 and was President and CEO from September 2011 to December 2012. As a Director of Alpha Minerals Inc., a predecessor company of ALX, and following the Patterson Lake uranium discovery in 2012, he served as Chairman of the Special Committee in 2013 during the acquisition of the company by Fission Uranium Corp. and subsequently served as a Director of Fission until 2014. Currently, Mr. Stanyer serves as President, CEO and a Director of Nevada Sunrise Gold Corporation, a junior exploration company focused on gold, copper, cobalt and lithium in Nevada, USA. He is also a Director of New Moon Minerals Corporation, a private mineral exploration company.

Patrick Groening CPA, CA - CFO

Patrick Groening’s previous roles with public companies including serving as CFO for both Strathmore Minerals Corp. and Fission Energy Corp. for more than nine years combined. He filled the same role for Jalna Minerals Ltd., Sernova Corp. and Papuan Precious Metals Corp, and dual roles of CFO and Corporate Secretary For Wolf Capital Corp. and Pacific Asia China Energy Inc.

Sierd Eriks – Technical Advisor

Sierd Eriks has worked in mineral exploration for over 35 years with a focus on uranium exploration for the past two decades. From 1979 to 1998, he gained geological and managerial experience with major mining companies, including Saskatchewan Mining and Development Corporation (now Cameco Corporation), Falconbridge Limited, Noranda Exploration Co. Ltd. and Cogema Resources Inc. (now Orano Canada) in base metals, gold, platinum group metals and uranium exploration.

In 1999, he became a consulting geologist and worked on numerous uranium exploration programs in the Athabasca Basin. Prior to joining ALX, he was Vice-President of Exploration with UEX Corporation from 2007 to 2014. In this position, Eriks managed projects with annual exploration budgets of up to $29 million and directed drilling programs leading to the establishment of mineral resources for three uranium deposits in the eastern Athabasca Basin in Northern Saskatchewan.

Christina Boddy – Corporate Secretary

Ms. Boddy is a member of the Canadian Society of Corporate Secretaries and has acted as Corporate Secretary for a number of public companies in recent years, including Levon Resources Ltd. (TSX:LVN), Nevada Sunrise Gold Corporation (TSXV:NEV), Aton Resources Inc. (TSXV:AAN), and Resinco Capital Partners Inc. (TSXV:RIN). Ms.Boddy acts as a consultant to public and private companies through Rhodanthe Corporate Services, a B.C.-based private company.

David Quirt – Technical Advisor

Mr. Quirt is a consulting geoscientist residing in Saskatchewan with 45 years of geological, mineral exploration, and Research and Development (“R&D”) experience, both in the consulting sector and within the mineral exploration industry. His applied science work has been primarily in economic geology (uranium, diamonds, gold, base metals, Rare Earth Elements), uranium deposit metallogenesis, geochemistry, and host-rock alteration mineralogy. Throughout his career, David has been a highly-sought speaker at numerous scientific conferences and corporate presentations, and has authored and co-authored technical reports, journal papers and conference-extended abstracts that have resulted from these works.

ALX Resources Corp. Reports Drill Results from the Alligator Lake Gold Project, SK

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Highlights of the Alligator Lake 2022 Drilling Program1

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2022 Exploration Program

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2022 Winter Drilling Program

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2022 Exploration Program

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ALX Resources Corp. Begins Drilling at Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that a diamond drilling program has commenced at the Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin, adjacent to the town of Stony Rapids, Saskatchewan.

ALX has prepared two target areas along a previously untested geophysical conductor (the "Zinger Conductor") first detected by a 2005 MegaTem airborne survey and confirmed by ALX's 2017 ZTEM airborne survey. A Spatiotemporal Geochemical Hydrocarbon ("SGH") soil survey carried out by ALX in October 2021 outlined two areas along the Zinger Conductor interpreted as prospective for uranium mineralization, shown on the map below as GC22-01 and GC22-02.

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Canada & US toll-free – (888) 330-2446; Passcode: 4915537
Outside of Canada & US – (240) 789-2732; Passcode: 4915537

Replay (available up to 14 days after the call):

Canada & US toll-free – (800) 770- 2030; Passcode: 4915537
Outside of Canada & US – +1 (647) 362- 9199; Passcode: 4915537

You may also access the conference call on a listen-only basis via webcast at our website www.kinross.com . The audio webcast will be archived on www.kinross.com .

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

Media Contact
Louie Diaz
Vice-President, Corporate Communications
phone: 416-369-6469
louie.diaz@kinross.com

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WHEATON PRECIOUS METALS ENTERS INTO AGREEMENT TO TERMINATE ITS EXISTING SILVER STREAM IN THE KENO HILL SILVER DISTRICT

Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with Hecla Mining Company ("Hecla") (NYSE: HL) to terminate its silver stream on Alexco Resource Corp.'s ("Alexco") (NYSE American: AXU) (TSX: AXU) Keno Hill Silver District ("Keno Hill") in the Yukon, Canada for US$135 million .

"The termination of the Keno Hill stream further demonstrates our ability to strategically identify opportunities both inside and outside of our portfolio that create value for our shareholders and positions Wheaton to continue to have one of the strongest balance sheets in the industry. While we firmly believe that Keno Hill is a high-quality district with significant exploration potential, given recent announcements, the ability to obtain an immediate return on the termination of the stream was too compelling to ignore," said Randy Smallwood , Wheaton's President and Chief Executive Officer. "We believe Hecla is well positioned to effectively mine Keno Hill and maximize its full potential."

News Provided by Canada Newswire via QuoteMedia

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