Avalon Overhauls Leadership Team to Compete in Global Lithium Race

As part of its strategic transformation to become a leading North American vertically integrated lithium producer, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce the appointment of three veteran executives to its leadership team, a key milestone as the Company executes on an ambitious growth plan.

Scott Monteith will assume control as interim Chief Executive Officer
Jim Jaques will serve as the Company's inaugural Chief Administrative Officer
Jan Holland will join the Board of Directors

"These appointments, and others to come, underscore the arrival of Avalon 2.0," Zeeshan Syed, Avalon President, said. "The commitment of our new leadership team is clear: reorient the Company towards full vertical integration of the lithium production cycle, and help establish Ontario, and Canada more broadly, as a strategic fulcrum in North America's clean energy transition."

All appointments are effective immediately, as the Company initiates a new growth phase consisting of transformational developments to be announced in the weeks and months ahead.

Avalon also announces that, following a long and successful tenure with the Company, former President and CEO Donald Bubar has decided to step down from the board of directors. Avalon would like to thank him for his years of service.

"We're assembling a new execution-focused team of deeply experienced professionals aligned around transforming Avalon into a world-class lithium producer, and in turn, helping ensure the path to a clean energy future runs through Canada," Mr. Monteith said.

New Strategic Vision
Avalon Advanced Materials' new strategic goals are focused on both organic growth of its lithium portfolio, consisting of a suite of critical-mineral mining projects across Canada, as well as developing new related opportunities. The Company's mission is to vertically integrate lithium processing within Ontario, positioning the province as an integral part of the North American supply chain for electric vehicle (EV) batteries.

In the weeks ahead, Mr. Monteith and the leadership team expect to implement key steps in their Phase 1 strategy, including:

Advance production and capitalization for the Separation Rapids project in northwestern Ontario
Establish a best-in-class lithium-hydroxide facility in Thunder Bay, Ont.
Identify non-core assets that fall outside the scope of the Company's focus on the first two business objectives

"I'm tremendously excited about the opportunity set I see before us. Avalon has a new mission we're starting to share with investors and Canada's broader capital markets community," Mr. Monteith said.

Mr. Syed added: "Under our new leadership team, Avalon sees and understands what's required to make Ontario and Canada leaders in this critically important space, and to establish Avalon's position within it. We are putting the pieces in place to achieve our vision."

About the New Leadership Team Members
Mr. Monteith is an experienced clean-tech executive and entrepreneur with a successful track record of moving inventions from ideation to commercial success. Mr. Monteith has extensive experience in the areas of marketing, manufacturing, technology transfer, technology licensing, new product development, patent management, corporate development, international business, M&A, investing, government affairs, board governance and strategic planning. Mr. Monteith is currently the Chair of Monteco Ltd., Cable House Capital Corp. and Imtex Membranes Corp.

In the newly created role of Chief Administrative Officer, Mr. Jaques will report to the CEO and be responsible for the Company's overall administration, marketing, corporate communications, human resources and information technology. A former marketing and sales executive with Bell Canada Inc., Mr. Jaques spent part of his career in senior leadership positions at both Merrill Lynch and Citibank (Australia). For the past several years, he has been a management consultant based in Toronto, working with both public and private sector organizations to help them drive revenue growth, new product innovation, strategic partnerships and secure growth capital financing.

Mr. Holland brings 35 years of experience in building and reorganizing businesses across an array of Canadian industries, from aerospace to financial services. For the past decade, he has been Chair and CEO of a leading Canadian aerospace parts manufacturer, transforming its business operations through a multi-phase revitalization and enabling expansion into new markets. Mr. Holland has been a Founding Partner or Director with multiple financial services firms, including Tricycle Asset Management and BMO Nesbitt Burns, respectively, raising a combined $2 billion in assets under management by pioneering innovative offerings, such as managed futures products and structured notes. His knowledge of capital markets and wealth of experience will be valued contributions to Avalon's new strategic direction.

About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company aimed at vertically integrating North America's lithium supply chain. The company is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects, including its 100%-owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope, Ontario. Social responsibility and environmental stewardship are corporate cornerstones.

For investor relations and media inquiries, please e-mail the Company at ir@AvalonAM.com, or phone Zeeshan Syed, President, at (647) 300-4706.

Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, project work plans, new strategic goals and related opportunities, that the Company's mission is to vertically integrate lithium processing within Ontario, and that in the weeks ahead Mr. Monteith and the leadership team expect to implement key steps in their Phase 1 strategy. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "potential", "scheduled", "anticipates", "continues", "expects" or "does not expect", "is expected", "scheduled", "targeted", "planned", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be" or "will not be" taken, reached or result, "will occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company's current Annual Information Form, Management's Discussion and Analysis and other disclosure documents available under the Company's profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

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Avalon Announces C$63M Strategic Investment by Sibelco to Create a Vertically Integrated Lithium Strategic Partnership in Ontario

As part of its strategic transformation to become a leading North American vertically integrated lithium producer, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce the signing of a binding term sheet to create a new joint venture with SCR-Sibelco NV ("Sibelco"), a global leader in materials solutions. Avalon has issued to Sibelco, on a non-brokered private placement basis, 109,692,764 common shares of Avalon ("Common Shares") for aggregate proceeds of C$10,000,000 and a secured convertible debenture in the principal amount of C$3,000,000 (the "Debenture") (collectively, the "Private Placement").

The C$63-million transaction results in Antwerp -based Sibelco owning approximately 19.9% of the issued and outstanding Common Shares, and provides Avalon with a first tranche of funding to advance the Company's lithium production and processing goals across its suite of lithium mineral assets, led by Separation Rapids in northwestern Ontario . This new joint venture is expected to accelerate Avalon's core business objective of building a mid-stream lithium-hydroxide processing facility in Ontario .

"This strategic partnership represents a significant step forward in scaling our business towards full vertical integration of our lithium production," said Scott Monteith , Chief Executive of Avalon. "Sibelco's investment is a major vote of confidence in our vision, resources and capabilities by a respected and established international operator—and now partner."

"Our partnership with Avalon will focus both on the clean energy growth agenda and the technical glass and ceramics markets in which Sibelco has deep and time-tested expertise" Hilmar Rode , Sibelco Chief Executive Officer, said. "This dual-market strategy combined with a cash-generative business plan will lay the foundation for accelerated growth, and ultimately the venture's sustained success going forward."

Overview of Transactions

Strategic Financing

Pursuant to the terms of the Private Placement, Sibelco purchased: (i) 109,692,764 Common Shares at a price of approximately $0.091164 per Common Share (the "Per Share Price") for gross proceeds of C$10,000,000 which resulted in Sibelco owning approximately 19.9% of the issued and outstanding Common Shares; and (ii) the Debenture, which is a secured convertible debenture, providing for two advances to Avalon: (i) C$500,000 on the date hereof; and (ii) C$2,500,000 subject to the satisfaction of certain conditions precedent. The Debenture bears interest at 7.115% per annum and the principal and interest are payable on maturity, being two years from the date of the Debenture (the "Maturity"). To the extent not repaid at Maturity by Avalon, Sibelco will have the right to convert the outstanding principal amount of the Debenture and all accrued and unpaid interest thereon into either additional Common Shares at a conversion price equal to the Per Share Price, or an additional 5% interest in the joint venture corporation (the "JV Election"), as more particularly described below. The Debenture is a secured obligation, secured by a pledge of the shares of a subsidiary of Avalon subject to replacement security at defined milestones.

Avalon also granted to Sibelco, for so long as Sibelco holds not less than 10% of the issued and outstanding Common Shares on a non-diluted basis, the right to nominate one member to the board of directors of Avalon ("Board") (or up to two nominees if the size of the Board is increased to nine directors or more), and the right to participate in future equity offerings so that it can maintain its pro rata percentage ownership in Avalon. Sibelco also agreed to a 12-month standstill and certain resale restrictions placed on its holdings in Avalon.

The proceeds from the Private Placement will be used by Avalon to fund the acquisition of industrial land for a lithium-hydroxide processing facility in Thunder Bay, Ontario , and repayment of up to C$1.9 million of existing debt, and for working capital and general corporate purposes.

Joint Venture

Subject to the terms and conditions of the binding joint venture term sheet, Avalon and Sibelco have agreed to establish a joint venture with respect to Avalon's lithium projects, including Separation Rapids and Lilypad in northwestern Ontario . Sibelco, which will act as operator of the joint venture, has committed to invest €35 million (approximately C$50.4 million ) into the joint venture. Of this amount, €5 million is to be advanced concurrently with the contribution by Avalon of its interests in the Separation Rapids and Lilypad projects, with an additional €30 million to be advanced in tranches to fund the development of the joint venture mineral projects, including facilities and related infrastructure. After total cash contributions of €35 million by Sibelco, each of the parties will make any further cash contributions on a pro-rata basis (with dilution to a non-contributing party's interest). While the initial participating interests to be held on the formation date of the joint venture by Sibelco and Avalon will be 60% and 40%, respectively, such participating interests may change to 65% and 35%, respectively, if on the Maturity date of the Debenture Avalon fails to pay the full principal and accrued interest and Sibelco elects to exercise the JV Election.

The joint venture term sheet is binding on the parties. Avalon and Sibelco will work together to enter into a long-form joint venture agreement as soon as practicable with a view to execution on or before August 31, 2023 , but in any event not later than September 30, 2023 .

New Strategy, New Vision

Avalon's new strategic goals are focused on both organic growth of its lithium portfolio, consisting of a suite of critical-mineral mining projects across Canada , as well as developing new related opportunities. The Company's mission is to vertically integrate lithium processing in Ontario , positioning the province as an integral part of a North American supply chain for EV batteries.

"We are thrilled to execute on a plan to reliably produce a key resource required for North America's clean-energy transition—and, in so doing, deepen ties between Canada and the European Union in this geo-politically sensitive sector," noted Zeeshan Syed , President of Avalon. "We are keenly attuned to the strategic imperative among G7 economies to build domestic critical-mineral processing capacity, and we intend to do just that."

The joint venture will facilitate Phase 1 of Avalon's new strategic growth plan, which includes:

The purchase of industrial land for a lithium-hydroxide processing facility in Thunder Bay, Ontario .
Funding to advance upstream lithium production operations across Avalon's various projects, led by the Separation Rapids and Lilypad sites, as well as further the development of the promising Snowbank discovery.
Enabling the Avalon-Sibelco joint venture to execute on a dual-market strategy targeting significant growth in both the glass and ceramics market and the EV clean energy market.

"Avalon's vision for an integrated lithium play is exciting and will enable Sibelco to play an important role in this business segment" Ian Sedgman , Sibelco Chief Strategy and Business Development Officer, said. "We see a tremendous opportunity to complement our core business by partnering with a proven lithium asset holder led by an experienced management team."

About SCR-Sibelco NV

Headquartered in Antwerp, Belgium , Sibelco is a global leader in material solutions. Sibelco mines, processes and sells specialty industrial minerals – particularly silica, clays, feldspathics and olivine – and is a leader in glass recycling. Sibelco's solutions serve a diverse range of industries including semi-conductors, solar photovoltaic, glass, ceramics, construction, coatings, polymers and water purification. The Sibelco Group has production facilities in more than 30 countries and a team of more than 5,000 people worldwide.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc. is a Canadian mineral development company aimed at vertically integrating North America's lithium supply chain. The Company is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects, including its 100%-owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope, Ontario . Social responsibility and environmental stewardship are corporate cornerstones.

For investor relations and media inquiries, please e-mail the Company at ir@AvalonAM.com , or phone Zeeshan Syed , President, at (647) 300-4706.

Forward-Looking Statements

Statements included in this news release, including any with respect to the Company's future financial or operating performance and other statements that express management's expectations or estimates of future performance, including statements in respect of the completion of the joint venture, the use of proceeds of the Private Placement, prospects and/or development of the Company's projects, other than statements of historical fact, constitute forward-looking information or forward-looking statements within the meaning of applicable securities laws (collectively referred to herein as "forward-looking statements") and such forward-looking statements are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements in this news release include, but are not limited to, statements with respect to: the Company's strategic review of certain of its assets; the development of the Company's material lithium projects, the Company's plans with respect to the exploration and development of its properties, costs of production, expected capital expenditures, operations outlook, expected benefits from the joint venture, the expected receipt of permits; permitting timelines, the future price of commodities; foreign exchange rates and currency fluctuations; requirements for additional capital; the Company's capital allocation; the estimation of mineral reserves and mineral resources; the realization of mineral reserve and mineral resource estimates, and government regulation of mining operations. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Forward-looking statements are generally identifiable by the use of words such as "may", "will", "should", "continue", "expect", "budget", "forecast", "anticipate", "estimate", "believe", "intend", "plan", "schedule", "guidance", "outlook", "potential", "seek", "targets", "suspended", "strategy", or "project" or the negative of these words or other variations on these words or comparable terminology.

The Company cautions the reader that forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, financial, operational and other risks, uncertainties, contingencies and other factors, including those described below, which could cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements and, as such, undue reliance must not be placed on them. Forward-looking statements are also based on numerous material factors and assumptions, including as described in this news release, including with respect to: the completion of the joint venture, use of proceeds from the Private Placement, the Company's present and future business strategies, operations performance within expected ranges, local and global economic conditions and the economic environment in which the Company will operate in the future, legal and political developments in the jurisdictions in which the Company operates, the price of lithium and other key commodities; projected mineral grades; international exchanges rates; anticipated capital and operating costs; the availability and timing of required governmental and other approvals for the Company's projects.

Risks, uncertainties, contingencies and other factors that could cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements include, without limitation: the Company's business strategies and its ability to execute thereon, including the ongoing strategic review of certain of the Company's assets; political and legal risks; risks associate with the estimation of mineral reserves and mineral resources; the ongoing impacts of the Ukraine war, the availability of labour and contractors; the volatility of the Company's securities; management of certain of the Company's assets by other companies or joint venture partners; the lack of availability of insurance covering all of the risks associated with a mining company's operations; business risks, including pandemics, adverse environmental conditions and hazards; unexpected geological conditions; potential shareholder dilution; increasing competition in the mining sector; changes in the global prices for lithium and certain other commodities; consolidation in the lithium mining industry; legal, litigation, legislative, political or economic risks; government actions taken in response to potential future public health emergencies and pandemics, including new variants of COVID-19, and any worsening thereof; changes in taxes, including mining tax regimes; the failure to obtain in a timely manner from authorities key permits, authorizations or approvals necessary for exploration, development or operations; the availability of capital; the level of liquidity and capital resources; access to capital markets and financing; the Company's level of indebtedness; the Company's ability to satisfy covenants under its outstanding debt instruments; changes in interest rates; the Company's choices in capital allocation; risks related to third-party contractors; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; the fact that reserves and resources, expected metallurgical recoveries, capital and operating costs are estimates which may require revision; failure to meet operational targets; equipment malfunctions; laws and regulations governing the protection of the environment; physical and regulatory risks related to climate change; the potential direct or indirect operational impacts resulting from external factors, including infectious diseases, public health emergencies or pandemics, such as COVID-19, unpredictable weather patterns and challenging weather conditions; attraction and retention of key employees and other qualified personnel; availability and increasing costs associated with mining inputs and labour; the availability of qualified contractors and the ability of contractors to timely complete projects on acceptable terms; the relationship with the communities surrounding the Company's operations and projects; indigenous rights or claims; and the inherent risks involved in the exploration, development and mining industry generally. Please see the Company's current annual information form available on www.sedar.com or for a comprehensive discussion of the risks faced by the Company and which may cause actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by forward-looking statements.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law.

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SOURCE Avalon Advanced Materials Inc.

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Avalon Reports Drill Results from 2022-2023 Exploration Program at Separation Rapids

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQX: AVLNF) ("Avalon" or the "Company") is pleased to announce final assays from the 2022-2023 drilling program at the Company's flagship Separation Rapids Lithium Project, confirming potential to significantly expand its lithium resource at depth. New significant intercepts shown below are from three of the four final drill holes.

SR23-85: 1.56% Li₂O over 47.71 metres ("m")
SR23-91: 1.06% Li₂O over 10.38m and 1.66% Li₂O over 7.01m and 1.36% Li₂O over 10.61m
SR23-92: 1.47% Li₂O over 3.42m and 1.14% Li₂O over 4.35m and 1.49% Li₂O over 4.52m

The assays for drill hole SR23-93 (the fourth hole) have confirmed the petalite mineralization to 566-metre depth increasing the potential depth of the deposit by 80%. The drilling has also confirmed that the deposit is open to the east and west, and to depth, over a 300-strike length, with similar grades to the current mineral resource estimate, supporting a conceptual target to double the size of the deposit through future drilling.

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Avalon Announces CEO Retirement

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company"), a lithium-focused mineral development company advancing critical mineral projects to support the North American battery supply chain, today announces the retirement of its long-standing CEO, Don Bubar. Don will continue to serve on Avalon's Board of Directors. Scott Monteith, who was appointed to Avalon's Board of Directors in May 2023, will assume the role of Interim CEO.

Mr. Monteith is an experienced clean tech executive, entrepreneur and business owner with a successful track record of moving inventions from concept to commercial success. Currently, he holds the position of Chair of Monteco Ltd., Cable House Capital Ltd. and Imtex Membranes Corporation. Mr. Monteith has extensive experience in the areas of chemical manufacturing, international businesses, M&A, government affairs and strategic planning.

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Avalon Outlines Strategic Direction and Provides Update on 2023 Activities

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company"), a lithium-focused mineral development company advancing critical mineral projects to support the North American clean technology supply chain, is pleased to outline Avalon's strategic direction and provide an update on key 2023 activities.

Recent Highlights

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CleanTech Lithium PLC Announces Community Support for Laguna Verde Project

Indigenous community leader publicly endorses Laguna Verde project at key mining seminar in Santiago, Chile

CleanTech Lithium PLC (AIM:CTL)(Frankfurt:T2N)(OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, participated in the Centre for Copper and Mining Studies ("CESCO") seminar in Santiago, a prominent annual seminar for the mining sector in Chile, and received public support from the local indigenous community for its Laguna Verde project. Executive Chairman and Interim CEO, Steve Kesler, presented and reinforced the Company is ready to begin project construction by 2026 upon the granting of a Special Lithium Operating Contract ("CEOL") by the Chilean Government

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GMV Minerals Inc. Commences Drilling at Daisy Creek Project in Lander County, Nevada

GMV Minerals Inc. (the "Company" or "GMV") (TSXV:GMV)(OTCQB:GMVMF) is pleased to announce that it has commenced drilling at its Daisy Creek lithiumuranium project in Lander County, Nevada. The Company has engaged Nevada-based Harris Exploration Drilling and Associates Inc. to commence its initial drill program at the Daisy Creek project. Harris Exploration has decades of successful drill exploration experience spanning across the Americas on all types of projects

Ian Klassen, President, remarked "We are pleased to be drill testing the Daisy Creek project and to be doing so with Harris Exploration, a highly reputable and experienced company that is very familiar with this type of geology". The Company's initial reverse circulation drill program will be approximately six holes from six different set ups totaling ~3500 feet. The program is designed to test the most prospective lithium targets as defined by the most recent geophysical, field work and historical information.

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Greenridge Exploration Announces Letter of Intent to Acquire ALX Resources Corp.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Greenridge Exploration Inc. (" Greenridge " or the " Company ") (CSE: GXP | FRA: HW3) and alx resources corp. ("ALX") (TSXV: AL | FSE: 6LLN | OTC: ALXEF) are pleased to announce the signing of a non-binding letter of intent (" LOI ") dated September 4, 2024 pursuant to which Greenridge will acquire all of the outstanding and issued common shares of ALX (the " Proposed Transaction "). The Proposed Transaction is an arm's length transaction that will create a leading Canadian uranium exploration company with interests in 15 uranium exploration projects that total approximately 276,000 hectares across renowned Canadian uranium districts including the Athabasca Basin, Thelon Basin and Elliot Lake. The combined entity will have interests in an additional 13 lithium, nickel, gold and copper properties across Canada.

Strategic Rationale for the Proposed Transaction

Creates leading and diversified Canadian explorer of strategic metals : The combined entity will own or have interests in 28 projects covering approximately 493,000 hectares with considerable exposure to potential uranium, lithium, nickel, copper and gold discoveries.
Adds one of the largest uranium property portfolios in the world class Athabasca Basin : In addition to Carpenter Lake, ALX has interests in 11 other projects and properties covering approximately 231,000 hectares in the Athabasca Basin. Highlighted projects include:
- Black Lake (40% ALX, 50.43% UEC, 8.57% Orano) – 2004 discovery hole (BL-18) intersected 0.69% U ₃ O ₈ over 4.4 m. Over 150 holes drilled to date. ¹
- Gibbons Creek (currently 100% ALX) – high-grade boulders located in 2013 with grades of up to 4.28% U ₃ O ₈ . Four of the five holes drilled in 2024 intersected uranium mineralization at or near unconformity. Uranium mineralization found in two areas located 500 m apart. ²
- Hook-Carter (currently 80% Denison, 20% ALX) – 13 km from NexGen's Arrow deposit and 20 km from Fission's Triple R deposit. Hosts a 15 km long exploration corridor prospective for uranium. Under the terms of a 2024 amendment to the joint venture agreement, ALX can earn an additional 5.0% for a total of a 25% interest by spending $3.0 million by November 2026. Denison has spent ~C$7.05M to date, which includes 11,757 m drilled from 2018 to 2019. ³
- McKenzie Lake (100% ALX) – A.I. work identified targets following 2021 magnetic and radiometric survey. Boulders were found with grades of up to 0.101% U ₃ O ₈ . ⁴
Consolidates ownership in the Carpenter Lake Project : Following the Proposed Transaction, Greenridge will own 60% of Carpenter Lake with the option to increase to 100%.
Enhanced capital markets profile and shareholder base : the pro forma company is expected to have a market capitalization of approximately C$35 million and a strong cash position.
Enhanced management and Board : adds Warren Stanyer, CEO of ALX, as President and Director as well as another nominee to the Board of Directors of Greenridge.
G&A cost savings : anticipate material cost savings from consolidating corporate G&A, corporate development and investor relations and marketing activities compared to operating as two separate entities.

Benefits to ALX Shareholders

Significant and immediate premium : the Exchange Ratio represents a 130% premium to the 20-day VWAP of the ALX Shares on the TSXV for the period ended September 4, 2024.
Exposure to the Nut Lake Project : Nut Lake Project is a 5,853-hectare property in the Thelon Basin located approximately 55 km north of Atha Energy's Angilak Project and the Lac 50 Trend deposit (inferred resource containing 43M lbs U ₃ O ₈ and 10.4M lbs Mo). The project hosts high grade vein hosted grab samples of up to 4.36% U ₃ O ₈ , 53.16 oz/tonne Ag, 1.15% Pb and 7% Ni. The project has seen approximately 6,920 ft of diamond drilling, with the most noteworthy being at the "tundra showing" where Hole Winkie AX W-24 intersected 9 ft of 0.69% U ₃ O ₈ ., including 4.9% U ₃ O ₈ over 1 ft from 8 ft depth. ⁵

Russell Starr, Chief Executive Officer of Greenridge, commented, "We are incredibly excited to announce this first step to acquire ALX Resources. The acquisition highlights our commitment in becoming a key player in today's energy transition. After the Proposed Transaction, Greenridge will have a significant portfolio of projects across many strategically important minerals. We look forward to leveraging ALX's expertise in the Athabasca Basin to explore our significant project portfolio. In conjunction with partners like Denison Mines and Uranium Energy Corp., we are confident that the acquisition will only further bolster the discovery potential of our exploration portfolio. We believe that our portfolio, coupled with our combined technical prowess will allow the Company to quickly develop its most prospective projects."

Warren Stanyer, Chief Executive Officer and Chairman of ALX, commented, "ALX is pleased to unite with Greenridge to create a dynamic uranium and critical metals exploration company focussed on locating new mineral deposits. The combination of ALX's technical team with Greenridge's financial capability provides each company's shareholders with multiple opportunities for discovery in some of Canada's best exploration districts."

ALX's Uranium Project Portfolio

ALX holds a wealth of uranium properties; namely their Hook-Carter, Black Lake, Sabre, Gibbons Creek, Javelin, McKenzie Lake and Bradley Lake uranium properties, located in the heart of Canada's premier uranium exploration district. These properties will be pivotal for Greenridge as the Company evolves and further develops its exploration capabilities.

Figure 1 – Athabasca Basin Uranium Projects

Figure 1 – Athabasca Basin Uranium Projects

Previous surface work on the properties delivered promising geological results for the Company to build momentum in future exploration. Particularly, McKenzie Lake's previous 2023 exploration saw three samples which returned 844ppm U-total (0.101% U ₃ O ₈ ), 273ppm U-total, and 259ppm U-total ² . Furthermore, ALX's Bradley Lake uranium property saw three samples collected in 2022 from the Bradley West showing along a trending structure visible on surface for 60m that returned uranium values ranging from 0.08% to 0.43% U ₃ O ₈ partial. In addition, two samples from the Bradley East showing, located 170m east of the Bradley West showing, returned values ranging from 0.27% to 1.77% U ₃ O ₈ partial ¹ .

ALX owns a 40% interest in the Black Lake uranium property, while Uranium Energy Corp. (" UEC ") owns a 51.43% interest and Orano Canada owns an 8.57% interest. The property is also within driving range of Orano Canada/Denison Mines McClean Lake uranium mill. Historical drilling conducted by a predecessor company of UEC identified unconformity-style mineralization extending over a 1.7 km strike length in the northern section of the property, adjacent to the Eastern Fault, which runs parallel to the Black Lake Fault.

ALX owns 20% of the Hook-Carter Uranium property while the remaining 80% is owned by Denison Mines. Denison Mines has spent $7.05 million in exploration to date. The property consists of 11 claims covering 25,115 hectares. The property is approximately 13km northeast of NextGen's Arrow deposit, 20km northeast of Fisson Uranium's Triple R uranium deposit, and approximately 8km northeast of Cameco/Orano/Purepoint's Spitfire, Hornet and Dragon discoveries. Under the terms of a 2024 amendment to the joint venture agreement, ALX can earn an additional 5.0% for a total of a 25% interest by spending $3.0 million by November 2026.

The Company holds several other highly prospective uranium projects, which are in different stages of advancement. The technical team will evaluate each project on its merits and implement exploration strategies which build the most shareholder value.

Portfolio of Lithium, Nickel, Copper and Gold Properties

ALX also brings an enriched portfolio, extending beyond uranium properties: lithium, nickel, copper and gold properties will be critical for the Company to continue diversifying its own portfolio. Notably, ALX's Ontario-situated Vixen Gold Project saw 2019 prospecting, mapping and sampling that returned values of 23.9 g/t gold and 6.1 g/t silver across four samples ⁵ . A more comprehensive, helicopter supported sampling program in 2020 provided gold values of up to 22.73 g/t gold as well as 7.21 g/t gold ⁵ .

Additionally, ALX's Cannon Copper Project, also situated in Ontario, hosts the historical Cannon Copper Mine and Mill which has a historical mineral resource of 415,000 tonnes grading 1.8% Cu over a width of 6.5 ft.; (1.98m) (Source: Ontario Geological Survey, Open File Report 6366, Report of Activities 2019).

(Note: This historical resource is not compliant with the standards of National Instrument 43-101).

The combination of both entities brings a robust set of projects in a variety of reputable Canadian mining jurisdictions.

Figure 2 – Greenridge Exploration & ALX Canadian Project Portfolio

Figure 2 – Greenridge Exploration & ALX Canadian Project Portfolio

Table 1 - Greenridge and ALX Combined Project Portfolio

Name	Mineral	Location	Size (ha)	Exploration History	Ownership
Carpenter Lake	Uranium	SK	13,387	Historical Drilling	60%, with an option to earn 100%
Nut Lake	Uranium	NU	5,853	Historical Drilling	100%
Ranger Lake	Uranium	ON	20,782	Early Stage	100%
Snook Lake	Uranium	ON	4,899	Early Stage	100%
Gibbons Creek	Uranium	SK	13,864	849.44m of Drilling in 2024	Up to 75% optioned to Trinex
Hook-Carter	Uranium	SK	25,115	4,797m of Drilling in 2019 + 6,960m of Drilling in 2018	ALX 20% - Denison Mines 80%, with an option for ALX to increase to 25%
Black Lake	Uranium	SK	31,701	2,830m of Drilling in 2017	ALX 40% - UEC 50.43% - Orano Canada 8.57%
Sabre	Uranium	SK	23,178	2022 Sampling & 2023 TDEM	100%
Bradley Lake	Uranium	SK	1,147	Rock Sampling in 2022	100%
Javelin	Uranium	SK	23,652	Airborne & Prospecting in 2021	100%
McKenzie Lake	Uranium	SK	6,916	Airborne in 2021 & Sampling in 2023	100%
Condor	Uranium	SK	24,258	Staked in 2024	100%
Cutlass	Uranium	SK	10,209	Staked in 2024	100%
Spear	Uranium	SK	6,706	Staked in 2024	100%
Cree Lake	Uranium	SK	1,957	Staked in 2024	100%

Alligator Lake	Gold	SK	2,973	815m of Drilling in 2022	Option to Acquire 80%
Vixen	Gold	ON	10,614	Sampling & Drilling Planned	Optioned to First Mining Gold
Hummingbird	Gold	SK	13,786	Rock & Soil Sampling in 2020	100%
Blackbird	Gold	SK	18,118	Staked in 2024	100%

Electra	Nickel	ON	4,537	1,150m of Drilling in 2022	Option to Acquire 100%
Firebird	Nickel	SK	25,210	1,500m of Drilling in 2021	100%
Flying Vee	Nickel	SK	14,495	VTEM and Sampling in 2022	100%

Hydra	Lithium	QUE	29,262	Rock & Soil Sampling in 2023-24	ALX 50% - Forrestania Resources 50%
Anchor	Lithium	NS	33,513	Biogeochemical Survey in 2023	100%
Crystal	Lithium	SK	44,587	Staked in 2023	100%
Reindeer	Lithium	SK	13,239	Staked in 2023	100%

Cannon	Copper	ON	1,962	2021 VTEM - 2024 Sampling	100%
Weyman Project	Copper	BC	6,925	Soil Sampling / Airborne Survey in 2024	100%

Board of Directors and Management Team

Upon completion of the Proposed Transaction, the Board of Directors of Greenridge (the " Greenridge Board ") will be comprised of five directors including (i) the three directors currently on the Greenridge Board, and (ii) two directors including Warren Stanyer, ALX's current Chief Executive Officer and Chairman, as well as another director to be mutually agreed upon by Greenridge and ALX.

Russell Starr will continue to serve as Chief Executive Officer and Director of the combined entity. Warren Stanyer is expected to join Greenridge as President.

Additional Details of the Proposed Transaction and the LOI

Under the terms of the LOI, each common shareholder of ALX (each, an " ALX Shareholder ") will receive 0.045 common shares of Greenridge (each whole such common share, a " Greenridge Share ") in exchange for each ALX common share held (each, an " ALX Share ") (collectively, the " Exchange Ratio "). The Exchange Ratio implies an offer price of C$0.036 per ALX Share ⁶ and implies an offer premium of 140% to ALX's closing share price on September 4, 2024 and a 130% premium to ALX's volume weighted average price (" VWAP ") of ALX Shares on the TSX Venture Exchange (the " TSXV ") over the previous 20 trading days. Upon completion of the Proposed Transaction, existing Greenridge and ALX shareholders will own approximately 74.2% and 25.8%, respectively, of the common shares of the combined entity.

The LOI for the Proposed Transaction includes customary provisions, including an exclusivity period ending on October 11, 2024. The final structure of the Proposed Transaction will be determined by the parties, based upon tax, securities and corporate law considerations, and will be governed by the terms of a definitive and binding agreement (the " Definitive Agreement ") governing the Proposed Transaction. Both Greenridge and ALX expect to work towards entering into a definitive agreement by October 10, 2024.

Completion of the Proposed Transaction is subject to, among other conditions, the following:

satisfactory completion of due diligence to the satisfaction of Greenridge and ALX;
entering into the Definitive Agreement following its approval by the Board of Directors of both Greenridge and ALX;
ALX Shareholders approving the Proposed Transaction by the requisite majority;
regulatory and court approvals;
a fairness opinion from a financial advisor stating that the Proposed Transaction is fair, from a financial point of view, to ALX Shareholders;
no material adverse change or prescribed occurrence occurring in relation to either Greenridge or ALX; and
other conditions customary for a public transaction of this nature.

The Definitive Agreement will include customary representations, warranties, covenants and conditions contained in agreements for transactions of this nature including non-solicitation and lock-up provisions, business restrictions and a no material adverse change clause. Red Cloud Securities Inc. is an advisor to ALX and will receive finder's fees in connection with the Proposed Transaction, the amount of which shall be determined at a later date.

Under the Proposed Transaction, all outstanding stock options and warrants of ALX, which remain unexercised on the date upon which the Proposed Transaction becomes effective, will, following the effective time of the Proposed Transaction, be exchanged and amended, respectively, to entitle the holder thereof to acquire Greenridge Shares in lieu of ALX Shares based on the Exchange Ratio.

It is anticipated that any securities to be issued under the Proposed Transaction will be offered and issued in reliance upon the exemption from the registration requirements of the U.S. Securities Act of 1933 provided by Section 3(a)(10) thereof. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Qualified Person

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

The technical information in this news release regarding Greenridge Exploration properties has been reviewed and approved by Jody Dahrouge, B.Sc., P.Geo. of Dahrouge Geological Consulting Ltd. who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on either of the properties of ALX or Greenridge.

References

alx resources corp. – Black Lake Historical Mineralized Uranium Intersections – https://alxresources.com/black-lake-uranium/
Ramp Metals Announces New High-Grade Gold Discovery of 73.55 g/t Au over 7.5m at its Rottenstone SW Project – https://www.newsfilecorp.com/release/213278
alx resources corp. - Intersects Uranium Mineralization at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan – March 25, 2024 – https://alxresources.com/alx-resources-corp-intersects-uranium-mineralization-at-the-gibbons-creek-uranium-project-athabasca-basin-saskatchewan/
alx resources corp. – Hook Carter Uranium Project – https://alxresources.com/hook-carter-uranium/
alx resources corp. – Vixen Lake Project – https://alxresources.com/vixen-gold/

About Greenridge Exploration Inc.

Greenridge Exploration Inc. (CSE: GXP | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Carpenter Lake Uranium Project is located in the Athabasca Basin consisting of 7 mineral claims covering 13,387 hectares across the Cable Bay Shear Zone and the Company is advancing the Project to test multiple high priority targets. The Company's Nut Lake Uranium Project located in the Thelon Basin includes historical drilling which intersected up to 9ft of 0.69% U ₃ O ₈ including 4.90% U ₃ O ₈ over 1ft from 8ft depth ¹ .

The Company's Weyman Copper Project in southeast British Columbia sits on the south portion of the famous Quesnel Terrance. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects. The Snook and Ranger Lake uranium projects, 4,899 hectares and 20,782 hectares respectively are located in western Ontario, with multiple previous uranium occurrences across both projects.

About alx resources corp.

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSXV 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 in Canada, which include uranium, lithium, nickel, copper, and gold projects. The Company uses the latest exploration technologies and holds interests in over 300,000 hectares of prospective lands in Saskatchewan, a stable jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, diamond deposits, and historical production from base metals mines.

ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project (currently the subject of an option earn-in agreement with Trinex Minerals Ltd., who can earn up to a 75% interest in two stages), 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 (currently the subject of an amended property agreement that would increase ALX's interest to 25% after fulfilling certain conditions).

ALX also owns 100% interests in the Firebird Nickel Project, the Flying Vee Nickel/Gold and Sceptre Gold projects, the Blackbird Gold Project, 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, and in the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages).

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.

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 Greenridge

Russell Starr
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com

On Behalf of the Board of Directors of ALX

Warren Stanyer
Chief Executive Officer and Chairman
Telephone: +1 (604) 629-0293
Email: info@alxresources.com

Disclaimer for Forward-Looking Information

Investors are cautioned that the Proposed Transaction remains subject to due diligence and a number of approval requirements; accordingly, there is no assurance the Proposed Transaction will be completed on the basis set out herein, or at all.

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to projects owned by Greenridge and ALX and their mineralization potential; the Company's objectives, goals, or future plans with respect to projects owned by Greenridge and ALX; statements with respect to the completion of Greenridge's acquisition of ALX and other matters related to or connected with the Proposed Transaction; further exploration work on projects owned by Greenridge and ALX in the future. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.

The Canadian Securities Exchange (CSE) and the TSX Venture Exchange (TSXV) do not accept responsibility for the adequacy or accuracy of this release.

News Provided by GlobeNewswire via QuoteMedia

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Drill hole	From (m)	To (m)	Drilled Width (m)	Estimated True Width (m)	Li2O %
SR-22-81	325.00	371.50	46.50	19.65	1.69
SR-23-82	336.00	367.70	31.70	11.36	1.50
and	378.10	390.80	12.70	4.55	1.66
and	397.35	412.75	15.40	5.52	1.10
SR-23-83	269.45	321.80	52.35	17.90	1.35
and	357.75	380.60	22.85	7.82	0.99
SR-23-84	187.00	410.00	223.00	76.27	0.96
including	203.00	321.25	118.25	40.44	1.46
SR-23-85	158.00	275.30	117.30	47.71	1.56
SR-23-86	167.25	300.00	132.75	45.40	1.01
and	216.00	248.90	32.90	11.25	1.53
and	274.40	300.00	25.60	8.76	1.92
SR-23-87	40.10	54.80	14.70	7.35	1.16
and	62.30	72.00	9.70	4.85	0.95
SR-23-88	84.25	93.00	8.75	4.38	1.13
SR-23-89	7.00	17.00	10.00	5.74	1.69
and	47.55	52.05	4.50	2.58	1.44
SR23-90	13.15	36.35	23.20	9.80	1.76
and	69.00	73.35	4.35	1.84	1.54
SR23-91	67.40	83.55	16.15	10.38	1.06
and	91.10	102.00	10.90	7.01	1.66
and	110.50	127.00	16.50	10.61	1.36
SR23-92	42.80	50.90	8.10	3.42	1.47
and	61.00	71.30	10.30	4.35	1.14
and	77.10	87.80	10.70	4.52	1.49
SR23-93	1.25	566.10	564.85	NA	1.51
Including	321.65	566.10	244.45	NA	1.48

For further information contact:
CleanTech Lithium PLC
Steve Kesler/Gordon Stein/Nick Baxter	Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222
	Or via Celicourt
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani	+44 (0) 20 7770 6424 cleantech@celicourt.uk
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak	+44 (0) 20 7628 3396
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies	+44 (0) 20 3884 8450 daniel@fox-davies.com
Canaccord Genuity (Joint Broker) James Asensio	+44 (0) 20 7523 4680

Hole ID	Easting TM35	Northing TM35	Elevation (mRL)	Azimuth	Dip	Total Depth	Prospect
PAL0335	3408345	7373507	174	50.4	-70.2	405.3	South Palokas
PAL0336	3410540	7372676	151	144.1	-70.1	131	Joki East
PAL0337	3410481	7372590	148	61.2	-70.9	125.3	Joki East
PAL0338	3410422	7372775	153	144.7	-55.4	190	Joki East
PAL0339	3408209	7373303	172	104.3	-44.8	150.1	South Palokas
PAL0340	3408347	7373505	174	118.4	-79.2	395.85	South Palokas
PAL0341	3408222	7373377	173	131	-44.4	136.7	South Palokas
PAL0342	3408715	7373997	175	115.7	-58.3	148.6	Palokas
PAL0343	3408627	7373991	175	88.9	-50.1	193	Palokas
PAL0344	3408300	7373532	174	52.3	-75.9	476.6	South Palokas
PAL0345	3408606	7374008	174	60.8	-71.9	278.1	Palokas
PAL0346	3408571	7373723	174	45	-65	184.4	Palokas
PAL0347	3408710	7372442	175	134.4	-72.1	273.6	Raja
PAL0348	3408306	7373530	175	119.1	-80.2	242.1	South Palokas
PAL0349	3408694	7372549	179	170	-80	341.85	Raja
PAL0350	3408402	7373671	174	75	-52	290.1	Palokas
PAL0351	3408461	7373877	175	143	-69.5	334.5	Palokas
PAL0352	3408247	7373715	172	62.4	-66.4	474.1	South Palokas
PAL0353	3408850	7372504	176	160	-70	260.55	Raja
PAL0354	3408308	7373984	175	126.1	-50.9	466.9	Palokas
PAL0355	3408817	7372720	174	168	-77	428.9	Raja
PAL0356	3408138	7373637	174	80.4	-74.4	496.9	South Palokas
PAL0357	3408558	7374143	175	168.8	-82.9	445.6	Palokas
PAL0358	3408984	7372343	173	244.5	-79.1	178.75	Raja
PAL0359	3408138	7373933	172	150.9	-77.7	47.2	South Palokas
PAL0360	3408679	7372340	174	75	-80.4	251.7	Raja
PAL0361	3408088	7373643	173	51.1	-81.9	665.95	South Palokas
PAL0362	3408576	7373723	174	95.3	-47.6	258.55	Palokas
PAL0363	3407996	7373198	172	88.2	-55.3	338.8	Hut
PAL0364	3408346	7373509	174	65.7	-66.4	359.2	South Palokas
PAL0365	3408347	7373434	174	71	-70.1	304.4	South Palokas
PAL0366	3407996	7373198	172	88.6	-70.6	374.4	Hut
PAL0367	3408138	7373935	172	150.8	-79.2	785.3	South Palokas
PAL0368	3407940	7373069	173	137.5	-47.7	250.9	Hut
PAL0369	3408026	7373279	172	82.5	-44.6	253.5	South Palokas
PAL0370	3408231	7372823	182	124	-55.1	175.9	Terry's Hammer
PAL0371	3408231	7372823	182	172.6	-44.8	148	Terry's Hammer
PAL0372	3410436	7372555	149	106.7	-69.4	113.4	Joki East

Hole ID	From	To	Drilled Thickness ¹ (m)	Gold (g/t)	Gold (gram-metres)	Cobalt ppm
PAL0335	122.2	123.2	1	0.49	0.5	52.5
PAL0335	126.35	128.35	2	1.19	2.4	167.0
PAL0335	136.35	137.35	1	1.62	1.6	516.9
PAL0335	142	146.6	4.6	0.99	4.6	1376.2
PAL0335	150.6	156	5.4	2.99	16.2	2137.1
PAL0335	295.05	316.8	21.75	5.25	114.3	514.8
including	311.3	314.5	3.2	21.61	69.15	373.2
PAL0335	322.4	324.4	2	1.86	3.7	164.3
PAL0335	335	339	4	2.99	11.9	94.4
PAL0335	350.25	356.85	6.6	2.37	15.6	278.8
PAL0339	-	-	-	-	-	-
PAL0340	21.25	22.25	1	0.58	0.6	TBA
PAL0340	91.8	92.5	0.7	7.42	5.2	TBA
PAL0340	98.8	100.8	2	0.78	1.6	TBA
PAL0341	-	-	-	-	-	-
PAL0344	197	198	1	0.66	0.7	TBA
PAL0344	201	205	4	2.78	11.1	TBA
PAL0348	124.75	125.75	1	0.30	0.3	TBA
PAL0348	151.35	152.35	1	0.58	0.6	TBA
PAL0350	95.55	96.55	1	0.45	0.45	14.7

Hole ID	From (m)	To (m)	Length (m)	Gold g/t	Cobalt ppm	Mineralisation
PAL0335	122.2	123.2	1	0.49	52.5	South Palokas
	126.35	127.35	1	2.06	283.3	South Palokas
	127.35	128.35	1	0.31	50.7	South Palokas
	136.35	137.35	1	1.62	516.9	South Palokas
	142	143	1	0.97	593	South Palokas
	143	144	1	1.17	1109.8	South Palokas
	144	145	1	1.08	1223.7	South Palokas
	145	146	1	0.15	1142.1	South Palokas
	146	146.6	0.6	2	3769.9	South Palokas
	150.6	151.6	1	3.26	1770	South Palokas
	151.6	152.5	0.9	3.1	2715.6	South Palokas
	152.5	153.5	1	1.77	1974.2	South Palokas
	153.5	154.5	1	2.12	1132.6	South Palokas
	154.5	155.5	1	3.24	2547.8	South Palokas
	155.5	156	0.5	5.95	3343.6	South Palokas
	295.05	296.05	1	8.25	674.3	New Lens
	296.05	297.05	1	1.33	549.8	New Lens
	297.05	298.05	1	0.89	895.4	New Lens
	298.05	299.05	1	0.35	673.3	New Lens
	299.05	299.5	0.45	0.15	421.5	New Lens
	299.5	300.5	1	1.42	585.2	New Lens
	300.5	301.5	1	2.51	627.6	New Lens
	301.5	302.5	1	0.46	445.1	New Lens
	302.5	302.95	0.45	0.59	623.1	New Lens
	302.95	303.95	1	1.2	927.5	New Lens
	303.95	304.45	0.5	0.92	1096.4	New Lens
	304.45	305.3	0.85	0.85	153.4	New Lens
	305.3	306.3	1	0.35	677.2	New Lens
	306.3	307.3	1	0.41	553.6	New Lens
	307.3	308.3	1	0.47	373	New Lens
	308.3	309.3	1	7.1	827.4	New Lens
	309.3	310.3	1	2.87	321.3	New Lens
	310.3	311.3	1	6.74	370.5	New Lens
	311.3	312.3	1	14	276.8	New Lens
	312.3	313	0.7	10	690.3	New Lens
	313	313.5	0.5	53.9	549.6	New Lens
	313.5	314.5	1	21.2	159.5	New Lens
	314.5	315.5	1	6.3	120	New Lens
	315.5	315.8	0.3	7.53	106.4	New Lens
	315.8	316.8	1	0.69	200	New Lens
	322.4	323.4	1	0.77	172.1	New Lens
	323.4	324.4	1	2.95	156.5	New Lens
	335	336	1	0.8	85.6	New Lens
	336	337	1	4.31	134.8	New Lens
	337	338	1	6.49	118.8	New Lens
	338	339	1	0.34	38.3	New Lens
	350.25	351.25	1	8.61	672.3	New Lens
	351.25	352.25	1	3.72	422.1	New Lens
	352.25	353.25	1	2.05	219.8	New Lens
	353.25	354.25	1	0.28	227.8	New Lens
	354.25	355.25	1	0.56	235.8	New Lens
	355.25	356.25	1	0.07	10.3	New Lens
	356.25	356.85	0.6	0.58	86.4	New Lens
PAL0340	21.25	22.25	1	0.58	TBA	South Palokas
	91.8	92.5	0.7	7.42	TBA	South Palokas
	98.8	99.8	1	1.21	TBA	South Palokas
	99.8	100.8	1	0.35	TBA	South Palokas
PAL0344	197	197.4	0.4	0.61	TBA	South Palokas
	197.4	198	0.6	0.69	TBA	South Palokas
	201	202	1	9.78	TBA	South Palokas
	202	203	1	0.13	TBA	South Palokas
	203	204	1	0.51	TBA	South Palokas
	204	205	1	0.69	TBA	South Palokas
PAL0348	124.75	125.75	1	0.3	TBA	South Palokas
PAL0348	151.35	152.35	1	0.58	TBA	South Palokas
PAL0350	95.55	96.55	1	0.45	14.7	South Palokas


Image 1: Ercilia Araya, President Pai-Ote Colla Community speaking at the CESCO Seminar in Santiago, Chile	Image 2: Marcela Sepúlveda, Community Relations Manager CleanTech Lithium, Cristián Quinzio, Quinzio Abogados, Alina Bendersky, Partner Bofil Mir, Ercilia Araya, President Pai-Ote Colla Community and Juan Ignacio Guzmán, Executive Director, GEM

Image 3: Steve Kesler, Executive Chairman and Interim CEO, presenting at the CESCO Seminar in Santiago, Chile

Avalon Overhauls Leadership Team to Compete in Global Lithium Race

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