Modern Exploration for Modern Times - ALX Resources · Microsoft PowerPoint - ALX Corporate Presentation_11 Nov 2019_Version 2.pptx Author: Sierd Created Date: 11/11/2019 11:35:32

NOVEMBER 2019 | TSXV: AL | FSE: 6LLN | OTC: ALXEF | www.alxuranium.com

Modern Exploration for Modern Times

Forward‐Looking Statements: This presentation has been prepared by ALX UraniumCorp. (“ALX”) using its best efforts to realistically and factually present the informationcontained herein. However, subjective opinion, dependence upon factors outside ALX’scontrol, and outside information sources unavoidably dictate that ALX cannot warrantthe information contained to be exhaustive, complete or sufficient. In addition, manyfactors can affect the presentation which could significantly alter the results intended byALX, rendering the presentation unattainable or substantially altered. Therefore,interested readers should conduct their own assessment and consult with their ownprofessional advisors prior to making any investment decisions.

This presentation does not constitute a prospectus or public offering for financing, andno guarantees are made or implied with regard to the success of ALX’s proposedventures.

Technical information has been prepared in accordance with the Canadian regulatoryrequirements set out in National Instrument 43‐101 and reviewed on behalf of theCompany by Sierd Eriks, P.Geo., President and Chief Geologist, who is a QualifiedPerson.

TSXV: AL | FSE: 6LLN | OTC: ALXEF | www.alxuranium.com2

Corporate Structure:

TSXV: AL | FSE: 6LLN | OTC: ALXEF | www.alxuranium.com

Strong board/team with a successful track record in uranium

exploration, marketing, finance and governance.

Shares Outstanding: 121,241,422Stock Options: 8,975,000Warrants: 44,390,780

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52-week trading range: $0.025 - $0.085

(as of June 30, 2019)

Officers, Directors and ManagementWarren StanyerChairman and CEO

R. Sierd Eriks, P.Geo.President and Chief Geologist

Jody Dahrouge, B.Sc., P. Geol.Director

Dr. Howard Haugom, B.A., M.A., Ph.D.Director

David Miller, B.S., Reg Prof GEO WYDirector

Jean‐Jacques GautrotDirector

Patrick Groening CPA, CACFO

Christina BoddyCorporate Secretary

Roger Leschuk, CIM, FCSIManager, Corporate Communications

Charles Roy, P.Eng., P.Geo.Chairman Technical Committee

Ken Wasyliuk, M.Sc., P.Geo.Technical Advisor

Dr. Larry Hulbert D.Sc., P.GeoTechnical Advisor

Working Capital: $2,930,000(as of June 30, 2019)

ALX Investment Highlights• ALX has an organized team with extensive technical and field

experience in mineral exploration• One of the strongest portfolios of exploration properties in

Canada, totaling over 200,000 hectares• Opportunity to acquire up to a 51% participating interest in the

Close Lake Uranium Project from Orano Canada Inc. • 20% interest in the Hook‐Carter Uranium Project, with 80%

holder Denison Mines Corp. agreeing to fund ALX’s share of the first CAD$12M in expenditures on the property

• Projects with drill‐ready targets in some of the world’s most attractive mining districts, including uranium and nickel‐copper‐cobalt properties in Saskatchewan, a gold project in Ontario and base metals projects in Norway

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A pre‐requisite for successful exploration…

“A positive attitude causes a chain reaction of positive thoughts, events and outcomes. It is a catalyst and it sparks extraordinary results.”

Wade Boggs, 12‐time MLB All‐Star

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Boggs’ 2,000th hit – May 17, 1992


• Saskatchewan hosts the world’s richest uranium deposits ‐ over 900 million pounds U3O8 mined since 1975

• Other opportunities include nickel‐copper‐cobalt, gold, diamonds and rare earth metals

• Ranked in 2018 by the Fraser Institute as one of the world’s most attractive mining districts

Searching in Saskatchewan – Good hunting!

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USA

Canada

Saskatchewan

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ALX’s Saskatchewan Projects

(Subject to LOI)

Close Lake Uranium Project:Location, Location, Location…

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• ALX has the opportunity to earn up to a 51% participating interest from Orano Canada Inc.

• Close Lake is currently held 74.40% by Orano, 14.99% by Cameco Corporation and 10.61% by JCU (Canada) Exploration Company Ltd.

• Located in an area of the Wollaston Belt where over 900 million pounds of U3O8 have been produced in the past four decades

• Two significant uranium discoveries have been made in drill holes at Close Lake:

CL‐11 (1985) intersected:1.52% U3O8 over 23.0 m including:11.46% U3O8 and 23.14% Ni over 2.5 m

CL‐90 (1997) intersected:0.34% U3O8 over 107.3 m including:2.86% U3O8 over 8.5 m


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• Multiple conductive trends identified by airborne and ground geophysics

• Trends extend from Cigar Lake and McArthur River that remain largely untested

)


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• Large property consisting of 21 claims totaling 38,679 hectares

• Previous workers encountered high‐grade uranium in drillholes

• Most drill holes are widely‐spaced leaving room to host new deposits

Northern area of Close Lake property

Outline of Cigar Lake Deposit(for comparative purposes)

Hole CL‐11 area

Hook‐Carter Uranium Project:On Trend and On Target

• ALX sold an 80% stake to Denison for 7.5 million DML shares

• Covers north extent of the Patterson Lake, Derkson and Carter CorridorsTriple R Deposits87.8 million lbs @ 1.82% U3O8 (Indicated) 52.9 million lbs @ 1.80% U3O8 (Inferred)Arrow Deposit256.6 million lbs @ 4.03% U3O8 (Indicated)91.7 million lbs @ 0.86% U3O8 (Inferred)Spitfire ZoneHole HK16‐53: 10 metres @ 10.30% U3O8

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20% ALX ‐ 80% Denison Mines


• Regional drilling totals over 300,000 metres

• Historical drilling at Hook‐Carter totals ~11,000 metres with large gaps between drill holes

• Phase 1 & 2 drilling: 2018‐19 results in 15 drill holes exhibit hallmarks of a wide‐spread, intense alteration system

• Additional drilling by Denison is planned

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20% ALX ‐ 80% Denison Mines


2018 Drill Core Photos – Hole HC18‐001 Altered Graphitic Basement

Falcon Nickel & Flying VeeNickel‐Copper‐Cobalt Projects

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• Falcon Nickel and Flying Vee each host Ni‐Cu‐Co showings and/or deposits

• Staking rush began in April‐May 2019

• Neighbours include Kobold Metals

Falcon Nickel Project

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A Rare Opportunity for ALX• In 2019, ALX consolidated the

land area of its Falcon Nickel Project, which hosts three known Ni‐Cu‐Co deposits

• 100% owned• Deposition and mineralization

style is compared to Voisey’sBay deposits (Normand, 2015)

• Falcon has nearby infrastructure including all‐weather road and commercial airport, both within 10 km

• Seasonal barges operate on Lake Athabasca that could aid in future development

Currie Lake Outcrop, Oct. 2019


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• Axis Lake: 3,400,000 tonsgrading 0.60% nickel and 0.60%copper (Technical Report, Organic Soil Sampling,Airborne and Ground Geophysics and Diamond Drilling,Fond Du Lac Property, Fond Du Lac Area, NorthernSaskatchewan, Canada dated April 15, 2007, Vivian andLo, 2007)*

• Rae Lake: 70,400,000 tons grading 0.10% nickel and 0.10% copper (Saskatchewan Mineral Deposits Index 1627)*

• Currie Lake: 47,536 tonnes grading 0.79% nickel (SMDI 1685)*

Historical Resource Estimates

*The historical mineral resource estimates listed above use categories that are not consistent with National Instrument 43‐101 (“NI 43‐101”) and cannot be compared to NI 43‐101 categories, and should not be relied upon. A qualified person has not done sufficient work to classify the estimates as current resources and ALX is not treating the estimates as a current resource estimates. However, the estimates are relevant to guiding the Company’s exploration plans and provide geological information regarding the type of mineralization that could be present in the Falcon area.


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• Falcon was dormant for over 10 years

• Numerous airborne conductive anomalies are being reinterpreted

• ALX collected rock samples and soil samples in an initial site visit in October 2019 –more results pending

• ALX is applying modern exploration techniques to a rare, undeveloped magmatic nickel sulphide deposit

3.13% nickel, 0.074% copperOctober 2019

ALX Saskatchewan Exploration:Completed and Upcoming

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• Falcon Nickel: Airborne survey interpretation underway – more results of geochemical testing are pending

• Close Lake: 2019 drill program completed in 3Q 2019

• Hook‐Carter: 2019 drilling of 4,797 metres in 6 holes confirmed hallmarks of a widespread mineralizing system.

• Argo: Airborne survey identified anomalous R/A for follow up –prospecting completed in 2019

Draco VMS Project ‐ Norway

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• ALX staked claims totaling 5,959 hectares in May 2019 at low cost following its study of surface mineral showings and mines

• 100% owned • Historical airborne

survey data was reprocessed with modern techniques

• Anomalous trends were identified that could host new zones of VMS‐style mineralization.

Draco VMS Project ‐ Norway

213‐D magnetic modelling from airborne data

Vixen Gold Project – Red Lake

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• Vixen consists of three sub‐projects totaling 10,008 hectares

• 100% owned• Located approx. 60

kilometres east of Red Lake, Ontario where ~30 million oz. of gold have been produced since 1925

• ALX made an initial site visit in October 2019 – results are pending

Vixen Gold Project – Red Lake

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• Vixen North lies within a greenstone belt ~6 km from the Springpole Gold Project, which hosts an Indicated resource of 4.67 million ounces gold (First Mining Gold Corp., 2019)

• Reprocessing of historical airborne study is underway using modern modeling techniques that were not available to previous explorers.

• Rock and soil samples were collected in Oct. 2019 site visit ‐prospective geology confirmed

Vixen grab sample,Oct. 2019

ALX’s CurrentCorporate Objectives

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• Identify drill targets on our Falcon nickel‐copper‐cobalt Project

• Compilation of Vixen Gold Project sampling results

• Meeting our first expenditures obligation at Close Lake by Q2 2020

• Farm out non‐core properties to emerging public companies


A Premier Uranium Explorer in Canada’s Athabasca Basin

ALX URANIUM CORP.Phone: 604.629.0293Toll Free: [email protected]

Warren StanyerCEO & [email protected] Leschuk, CIM, FCSI

Manager, Corporate Communications [email protected]

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Documents

Modern Exploration for Modern Times - ALX Resources · Microsoft PowerPoint - ALX Corporate Presentation_11 Nov 2019_Version 2.pptx Author: Sierd Created Date: 11/11/2019 11:35:32