ALX Resources

TSXV:AL

New Technologies Lead to New Discoveries

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.
  • ALX Resources completed a drilling program in the Northern Athabasca Basin, comprising approximately 1240 meters, atop two previously untested anomalies.
  • ALX Resources acquired Hydra Lithium Project in a world-class lithium exploration district in the James Bay region of northern Quebec, Canada. The project consists of 306 mineral claims in four sub-projects totalling 15,837 hectares (39,134 acres).
  • ALX Resources acquired by staking the 31,808 hectares Anchor Lithium project within the Meguma Terrane of central and western Nova Scotia, Canada.
  • The company staked additional 108 claims expanding the Hydra Lithium Project from 15,837 hectares to a total area of 21,746 hectares.
  • ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era.
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Overview

ALX Resources (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.

ALX Resources completed a diamond drilling program in the Northern Athabasca Basin, proximal to Stony Rapids, Saskatchewan. The program consisted of three holes, spanning approximately 1240 meters, atop two previously untested anomalies. In Q1, 2022 the company prepared trails and drill pads along the Zinger and Eclipse geophysical conductors, detected in historic airborne surveys.

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.

In 2022, ALX Resources acquired by staking the Anchor Lithium Project located within the Meguma Terrane of central and western Nova Scotia, Canada. Anchor covers 31,808 hectares consisting of 34 mineral licences in two sub-projects known as "Drake" and "Yankee". Anchor is underexplored for lithium-bearing pegmatites and the company plans to obtain a permit for exploration from the Government of Nova Scotia Department of Energy and Mines and to consult with local landholders to allow prospecting and sampling in pursuit of lithium-bearing pegmatite intrusions.

The company also acquired the Hydra Lithium Project in the James Bay region of northern Quebec, Canada in September 2022 with 306 mineral claims in four sub-projects totalling 15,837 hectares. In December 2022, ALX announced the staking of additional 108 claims, giving Hydra a total area of 21,746 hectares. The additional claims are in two claim blocks known as Cobra and Viper which were staked after further geological assessment of the area, targeting discrete greenstone formations that have the potential to host LCT-type pegmatites.

In 2023, ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era. Reindeer is located approximately 130 kilometers east of LaRonge, SK and 20 kilometers southwest of the community of Pelican Narrows, SK. Reindeer is 100 percent owned by the company, subject to a 2.0 percent net smelter returns royalty (NSR) in favor of the vendor of the project claims. ALX intends to carry out reconnaissance geological mapping in the summer/fall of 2023 to evaluate the lithium potential of the pegmatites present at the Project.

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.
  • ALX Resources completed a drilling program in the Northern Athabasca Basin, comprising approximately 1240 meters, atop two previously untested anomalies.
  • ALX Resources acquired Hydra Lithium Project in a world-class lithium exploration district in the James Bay region of northern Quebec, Canada. The project consists of 306 mineral claims in four sub-projects totalling 15,837 hectares (39,134 acres).
  • ALX Resources acquired by staking the 31,808 hectares Anchor Lithium project within the Meguma Terrane of central and western Nova Scotia, Canada.
  • The company staked additional 108 claims expanding the Hydra Lithium Project from 15,837 hectares to a total area of 21,746 hectares.
  • ALX Resources purchased the Reindeer Lithium project consisting of five mineral claims, which ALX believes to be underexplored for lithium-bearing pegmatites in the modern era.

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