Battery Metals

ALX Resources Corp. Stakes Additional Claims at the Hydra Lithium Project in Quebec

ALX Resources Corp. Stakes Additional Claims at the Hydra Lithium Project in Quebec

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that it has completed a second staking program at the Hydra Lithium Project ("Hydra", or the "Project") in the James Bay region of northern Quebec, Canada. ALX staked an additional 108 claims in two claim blocks known as Cobra and Viper, bringing ALX's total holding in the region to 21,746 hectares (53,734 acres). Hydra is located in a world-class lithium exploration district that hosts several significant lithium-cesium-tantalum ("LCT") type pegmatites. Hydra is 100%-owned by ALX with no applicable royalties and the Cobra and Viper claims are in good standing until November 2025.

Highlights of ALX's 2022 Exploration Activities at Hydra

  • Cobra and Viper were staked after further geological assessment of the area, which targeted discrete greenstone formations that have potential to host LCT-type pegmatites;
  • ALX performed site visits on four sub-projects (Volta, Sprite, Nike and Echo) at Hydra in October 2022. The helicopter-assisted reconnaissance prospecting was successful in locating pegmatite bodies in several locations, despite the onset of poor weather conditions limiting the scope of the program;
  • Samples were submitted to SGS Canada Inc. for multi-element analysis including lithium, cesium, and tantalum. Results are expected in December 2022 and will be released following their receipt, compilation and interpretation.

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ALX's Hydra Lithium Project claims in the James Bay Region, Quebec

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2022-2023 Exploration Plans

Compilation of historical data related to Hydra and other areas in the region that are prospective for LCT pegmatites is ongoing. Following receipt of the results of the 2022 prospecting, ALX is planning a high-resolution magnetic, radiometric, and photogrammetric survey in early 2023 to provide additional geophysical, topographic, and aerial visual information to aid in the location and mapping of pegmatite bodies. In the 2023 field season, follow-up geological and geochemical surveys are planned across the highest-priority areas in order to delineate potentially lithium-bearing pegmatite dykes and sills and to optimize resultant drill targets.

To view maps and more information on Hydra, visit our website at: https://alxresources.com/hydra-lithium/.

About Hydra

Hydra now consists of six sub-projects totaling 21,746 hectares (53,734 acres) known as Volta (4,806 ha.), Echo (5,537 ha.), Nike (2,056 ha.), Sprite (3,438 ha.), Cobra (4,249 ha.) and Viper (1,280 ha.), all located within a fertile mineral exploration district that is known to host the following existing lithium deposits:

  • James Bay Lithium - (Indicated Mineral Resource: 40.33 million tonnes grading 1.4% Li2O), owned by Allkem Limited;1
  • Rose - (Probable: 26.3 million tonnes grading 0.87% Li2O and 138 ppm Ta2O5), owned by Critical Elements Lithium Corporation;2
  • Whabouchi - (Measured + Indicated "in Pit" Mineral Resource: 37.356 million tonnes grading 1.48% Li2O), owned by Livent Corporation and Investissment Québec.

    1 Preliminary Economic Assessment, NI 43-101 Technical Report, James Bay Lithium Project Ontario Canada, by G Mining Services, March 8, 2021
    2 Rose Lithium-Tantalum Project Feasibility Study NI 43-101 Technical Report, by Simon Boudreau, P.Eng., May 27, 2022
    3 NI 43-101 Technical Report on the Whabouchi Lithium Mine and Shawnigan Electrochemical Plant, by Met-Chem et al, November 7, 2018

ALX believes that Hydra is underexplored for LCT pegmatites because of the high prospectivity of the region, as suggested by the Corvette Lithium Deposit, and due to the fact that the historical focus of exploration in the James Bay Region has been on gold and base metals. The James Bay Hydroelectric Project (total investment by Hydro-Québec is estimated at greater than CAD$16 billion since the early 1970s) has created infrastructure for mineral exploration in the form of several all-weather roads, including the Trans-Taiga Road. Serviceable airstrips are located in the vicinity providing aircraft support capability for Hydra.

NationaI Instrument 43-101 Disclosure

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

Mineral resource information from lithium deposits in the James Bay region quoted in this news release were taken directly from publicly available disclosure. Management cautions that historical results were collected and reported by operators unrelated to ALX and have not been verified nor confirmed by its Qualified Person but create a scientific basis for ongoing work in the Hydra project area. Management further cautions that historical results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on ALX's mineral properties.

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, lithium, 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's uranium holdings in northern Saskatchewan include 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 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 owns 100% interests in lithium exploration properties staked in 2022 known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, and a 100% interest in the Anchor Lithium Project, located in Nova Scotia.

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 2022-2023 exploration plans at the Hydra Lithium 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, lithium, nickel, copper, 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 Nine Months Ended September 30, 2022, 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147253

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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

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Highlights

  • Infinity Stone expands its land position to over 5,546 hectares, as well as a pending application for two additional claims in James Bay Lithium District adjacent to and near Patriot Battery Metals Corvette discovery.
  • Further exploration and project expansion is being conducted in the context of the new discovery and significant drilling results from PMET and Winsome in the Corvette Lithium Trend in James Bay, QC.

Infinity Stone Ventures Corp. (CSE: GEMS) (OTCQB: GEMSF) (FSE: B2I) (the "Company" or "Infinity Stone"), is pleased to announce that it has acquired and staked an additional 359 hectares, as well as a pending application for two additional claims (the "New Claims") on its Camaro Hellcat Lithium Project (the "Camaro Hellcat Project"), with claim blocks adjacent to Patriot Battery Metals' ("PMET" or "Patriot") Corvette Project in the James Bay Region of Quebec, bringing its total land position to 5,546 hectares in addition to the currently pending cells. The New Claims include historical surface samples returning 57ppm Li, sampled and assayed in 2016, and a 30ppm Li sample in 1997 (the "Historic Samples").1 The Historic Samples were found to the west of Winsome Resources Cancet Project and PMET's Corvette Lithium Project, north of the Taiga Highway. There are at least 4 historical mapped pegmatites on the New Claims, and the Company intends to conduct further exploration to identify any other potential pegmatites that may be found on the New Claims.

The New Claims are also located near Winsome Resources Ltd.'s ("Winsome") Cancet discovery drill hole (the "Cancet Property"). Winsome's best results at Cancet have included 1 metre at 5.65% Li2O from 36.5 metres and six metres at 1.95% Li2O from 36.45 metres.2 Furthermore, the New Claims are adjacent to a number of claims currently held by Jody Dahrouge, President and Owner of Daroughe Geological Consulting Ltd., a consultant and contractor to PMET. PMET has recently announced that it had drilled 52.2 metres of 3.34% LI2O, including 15.0 metres of 5.10% LI2O.

Infinity Stone intends to conduct a focused exploration program on the Hellcat claim block, alongside an initial prospecting program on the New Claims, in the early spring and will leverage the results of the Winter Geophysics Program announced on January 19, 2023 in targeting sampling and trenching. The Survey will further enable the mapping and delineation of the pegmatitic units across the claim blocks.

"We are excited to further expand the Hellcat Camaro Project in James Bay near Patriot's Corvette discovery. As the spring exploration season rapidly approaches, we are renewing our focus on the project and are actively evaluating new claim blocks that are adjacent and near the current project footprint," said Zayn Kalyan, CEO of Infinity Stone. "The James Bay region, specifically the CV lithium trend discovered by PMET, is quickly becoming the epicentre of lithium exploration in North America and we are excited to have a prospective land package in the region. We are looking forward to being able to get back on the ground with more data following our geophysics program to conduct a renewed and focused exploration program," furthered Mr. Kalyan.

Terms of Acquisition

Pursuant to the acquisition of 100% interest in 154 hectares of the New Claims, the Company has agreed to (i) paying $6,000 in cash and issuing 200,000 subordinate voting shares ("Shares") of the Company to the claim vendor Donovan Explorations Ltd.

About the Hellcat Camaro Lithium Project

The 5,546-hectare Hellcat Camaro Lithium Project is located adjacent to Patriot Battery Metals' Corvette Property, in the James Bay Region of Quebec, approximately 235 kilometres east of Radisson, Quebec and 245 kilometres northeast of the Cree village municipality of Nemaska. The Project has four property blocks, the Taiga, Hellcat, and Camaro, collectively covering 3,850 hectares adjacent to Patriot Battery Metals' Corvette Lithium discovery in the James Bay Region of Quebec. PMET has recently returned significant high-grade results at the Corvette Lithium Project, including 156.9 m at 2.12% Li2O (176.4 m to 333.4 m), including 25.0 m at 5.04% Li2O (CV22-083).1

Qualified Person

Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects and a director of the Company.

About Infinity Stone Ventures

Infinity Stone's mission is to be a diversified, single source supplier for the critical energy metals being used in the clean energy revolution alongside its established SaaS solution portfolio. Infinity Stone is meeting the demand from battery and wind turbine manufacturers, nuclear and hydrogen energy producers, and energy metals speculators by acquiring 100% interest in critical mineral deposits and occurrences in stable mining-friendly jurisdictions, close to final use destinations in North American manufacturing hubs.

To register for investor updates please visit https://infinitystone.ventures.

INVESTOR PRESENTATION

Connect with Infinity Stone

Email | Website | Facebook | LinkedIn | Twitter | Instagram |

Infinity Stone Contact
Zayn Kalyan
CEO and Director
Direct: 778-938-3367
zayn@altuscapital.ca

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

Forward-Looking Statements Disclaimer

This press release contains "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "projects", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this press release are based upon what management of Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements may also be affected by risks and uncertainties in the business of the Company, including those described in the Company's public filings available on www.SEDAR.com. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

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ACME Lithium Commences Phase 2 Drill Program at Clayton Valley Nevada Lithium Brine Project

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ACME Lithium Inc. (CSE: ACME) (OTCQX: ACLHF) (the "Company", or "ACME") is pleased to announce that Phase 2 drilling has commenced at ACME's Clayton Valley Nevada lithium brine project. ACME's Clayton Valley Nevada lithium brine project is contiguous to the northwest of Albemarle's Silver Peak lithium deposit which has been in production since 1966 and is the only lithium producing region in the United States.

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Drilling at Clayton Valley, Nevada (Fig. 1)

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CDN Maverick Capital Corp. ("Maverick" or the "Company") (CSE: CDN) (OTCQB: AXVEF) ( Frankfurt : 338B ) is pleased to announce an updated on its successful investment in Noram Lithium Corp (TSXV: NRM) (OTCQB: NRVTF) (Frankfurt: N7R) as it announces a significant increase in its estimated mineral resources at the Zeus Lithium Project, following the completion of the Phase VI drill program during the second quarter of 2022 (see Table 1 for the 2022 phase VI drill highlights).

Highlights of the Updated Resource Estimate
  • An increase of 190% in Measured and Indicated ("M&I") lithium carbonate equivalent ("LCE") Resources from the August 2021 Mineral Resource Estimate.
    • M&I Resources increased to 5.17 million tonnes ("Mt") LCE (1, 034 Mt at 941 parts per million lithium ("ppm Li")) at a 400 ppm Li cut-off grade.
  • Substantial Inferred Resources remain from the 2022 Phase VI drill program.
    • Inferred Resources are 1.09 Mt LCE ( 235 Mt at 871 ppm Li) at a 400 ppm Li cut-off grade.
  • Near Surface = Low Strip Ratio. The majority of the deposit occurs at or near the surface, resulting in relatively low mining costs. Results from the Preliminary Economic Study ("PEA") 1 indicate that the life of mine strip ratio would be ~0.07:1 (waste:ore).
  • High level of confidence in the deposit modelled given the density of the drill program with 82 holes drilled to-date. All holes were core holes for more precise sampling and stratigraphic correlations.
  • High grade core (60 meters thick x 1.2 kilometers wide x 3.0 kilometers long) represents an opportunity for optimizing the mine plan. At a 1,200 ppm Li cut-off the Measured and Indicated Resources total 1.2 Mt LCE (169 Mt at 1,326 ppm Li).

"The updated mineral resource estimate, with 82 drill holes completed to-date, highlights that noram's Zeus Lithium Project is exceptionally well positioned in the United States amongst its peer deposits in terms of grade and contained Lithium Carbonate Equivalent," stated Greg McCunn , noram's CEO. "The high-grade core of the deposit outcropping at surface provides a significant opportunity to optimize the project mine plan and enhance value. With a strong treasury and a strengthened technical team, we are expecting to move aggressively in 2023 to further de-risk the project with continued metallurgical testing and completion of a Prefeasibility Study."

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