ALX Uranium Corp. Announces Non-Brokered Flow-Through Private Placement

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Vancouver, B.C. (FSCwire) - ALX Uranium Corp. (“ALX” or the “Company) (TSXV: AL; FSE: 6LLN; OTCQX: ALXEF) announced today a non-brokered private placement of up to 3,000,000 flow-through units (“FT Units”) at $0.10 per FT Unit for gross proceeds of up to $300,000.

Each FT Unit consists of one flow-through common share and one non flow-through common share purchase warrant in the capital of the Company. Each common share purchase warrant (a “Warrant”) is exercisable into one common share of the Company for a period of 24 months from closing at a price of $0.15 per common share.

Finders fees may be payable in connection with this private placement.

All the securities issuable will be subject to a four-month hold period from the date of closing.

The proceeds received from the FT Units will be used by the Company to incur qualified Canadian Exploration Expenses for exploration of the Company’s uranium projects in the Athabasca Basin of Saskatchewan, Canada.

About ALX Uranium Corp.

ALX Uranium Corp. was formed as the result of a business combination between Lakeland Resources Inc. and Alpha Exploration Inc. ALX is based in Vancouver 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 OTCQX under the symbol “ALXEF”. ALX is actively exploring a portfolio of early-stage properties. Technical reports are available on SEDAR (www.sedar.com) for several of the Company’s active properties. ALX continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.

For more information, please visit the corporate website at www.alxuranium.com or contact Roger Leschuk, Vice-President, Corporate Development at Ph: 604.629.0293 or email: rleschuk@alxuranium.com

On Behalf of the Board of Directors

ALX Uranium Corp.

"Mark Lackey"

Mark Lackey

President, CEO and Director

Direct: 647.774.5967

Office: 604.629.0293

Toll-free: 1-866-629-8368

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 this press release as a PDF file, click onto the following link:
public://news_release_pdf/ALX12212016.pdf

Source: ALX Uranium Corp. (TSX Venture:AL, OTCQX:ALXEF, FWB:6LLN)

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