ALX Resources Corp. Closes Athabasca Basin Properties Transaction with Okapi Resources Ltd

ALX Resources Corp. Closes Athabasca Basin Properties Transaction with Okapi Resources Ltd

The Six Properties

ALX has agreed to sell to Okapi its current interests in the Six Properties as described in the table below: Property Name ALX’s
Interest No.
of Claims Project Area
(ha) Newnham Lake 100% 1 14 16,940.03 Kelic Lake 100% 2 12 13,620.25 Argo 100% 3 6,974.53 Lazy Edward Bay 100% 3 42 11,263.15 Perch 100% 4 1 1,681.71 Cluff Lake 80% 5 3 4,832.84 1 Two claims are subject to an underlying 1.0% gross overriding royalty ("GOR") in favour of an arm’s length vendor with a 0.5% buydown provision for CAD$1.0 million, and five claims are subject to an underlying 2.5% net smelter returns royalty ("NSR") in favour of a non-arm’s length vendor with a 1.0% buydown provision for CAD$1.5 million;
2 Five claims are subject to an underlying 2.5% NSR in favour of a non-arm’s length vendor with a 1.0% buydown […]

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