ALX Uranium Corp. Announces Application to Amend Warrant Terms

Vancouver, British Columbia--(Newsfile Corp. - April 26, 2019) - ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announces that it has made an application to the TSX Venture Exchange (the "TSXV") to amend the term of an aggregate of 3,090,000 outstanding share purchase warrants, (the "Warrants") which were issued in connection with a non-brokered private placement (see ALX news release dated May 5, 2016). On May 16, 2016, the Company issued 2,325,000 warrants (the "May 2016 Warrants") and on June 23, 2016 the Company issued 765,000 warrants (the "June 2016 Warrants").

In November, 2017, the Company extended the term of the Warrants for an additional 18 months, so the May 2016 Warrants were extended to May 16, 2019 and the June 2016 Warrants were extended to June 23, 2019.

The Company is seeking to again extend the term of the Warrants for an additional 18 months. The May 2016 Warrants would be extended to November 16, 2020 and the June 2016 Warrants would be extended to December 23, 2020. The exercise price of the Warrants will remain unchanged, at $0.20 per Warrant.

The application to extend the expiry date of the Warrants is subject to acceptance by the TSXV.

About ALX

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada. The Company executes well-designed exploration programs using the latest technologies and has interests in over 200,000 hectares in Saskatchewan, a Province which hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates potential for economic base metals deposits. 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". Technical reports are available on SEDAR at www.sedar.com for several of the Company's active properties.

For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at

Ph: 604.629.0293 or Toll-Free: 1.866.629.8368, or by email: rleschuk@alxuranium.com

On Behalf of the Board of Directors of ALX Uranium Corp.

"Warren Stanyer"

Warren Stanyer, Director 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 the Company's plans to undertake exploration activities on its exploration properties. 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 our projects in Athabasca Basin may prove to be unworthy of further expenditure; economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Six Months ended June 30, 2017, which is available under 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/44363

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