Vancouver - ALX Resources Corp. ('ALX' or the 'Company) (TSXV: AL; FSE: 6LLN; OTC: ALXEF) announced today that the Board of Directors has approved the allocation of 2,900,000 incentive stock options to directors, officers, employees, and consultants of the Company.

The options are exercisable at $0.07 per share for a period of five years from issuance, and are subject to the following vesting provisions - one third (1/3) of the options will vest in four months, one third (1/3) in eight months and one third (1/3) vesting one year from the allocation date.

About ALX Resources Corp.

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include nickel-copper-cobalt, gold and uranium. The Company executes well-designed exploration programs using the latest technologies and holds over 200,000 hectares in Saskatchewan, a stable Canadian jurisdiction which demonstrates strong potential for economic base metals deposits, and hosts a producing gold mine as well as the highest-grade uranium mines in the world.ALX has recently acquired the Falcon Nickel and Flying Vee Nickel projects in northern Saskatchewan, the Vixen Gold Project in the historic Red Lake Mining District of Ontario, Canada, and the Draco VMS Project in Norway. 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'.

Contact:

Roger Leschuk

Tel: 604.629.0293

(C) 2020 Electronic News Publishing, source ENP Newswire