a premier uranium explorer incanada’s athabasca basin · 2019. 9. 16. · • $3.5 million within...

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

A Premier Uranium Explorer in Canada’s Athabasca Basin


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 Qualified Person.

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

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

ALX’s objective is to provide shareholders with multiple opportunities for discovery and value creation by building a portfolio of prospective uranium exploration and energy metals properties through staking, joint ventures, acquisitions and divestitures. ALX executes well‐designed exploration programs using the latest tools and technologies.

About ALX Uranium (TSXV: AL)

The World’s Most Prolific Uranium District• High‐grade deposits, low cost per kg. of U3O8

• Well‐established infrastructure• Low geopolitical risk

The Athabasca Basin

Saskatchewan

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ALX Investment Highlights

• ALX has an organized team with extensive technical and field experience in the Athabasca Basin

• One of the strongest portfolios of uranium properties in the Athabasca Basin 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 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 on trend with existing discoveries in one of the world’s most attractive mining districts

• New nickel‐copper‐cobalt properties acquired in Saskatchewan

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Corporate Structure:


Strong board/team with a successful track record in uranium

exploration, marketing, finance and governance.

Shares Outstanding: 117,491,422Stock Options: 8,975,000Warrants: 44,390,780

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52-week range: $0.035 - $0.085


(as of June 30, 2019)

Officers, Directors and Management

Warren 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

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

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


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ALX’s Projects in the Athabasca Basin Area, SK

(Subject to LOI)

How to Find a Uranium Deposit:Step 1 – PLS area EM Surveys, 2007 & prior

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???No Man’s Land – a “Drive‐By” Project that had few believers

And conductorseverywhere ‐where do you drill?

How to Find a Uranium Deposit:Step 2 – PLS Airborne Radiometric Survey, 2009

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Glacial Ice Direction

Outline of R/A Boulder Field

How to Find a Uranium Deposit:Step 3 – Radon Surveys & Boulder Location, 2011

10PLS boulder excavation pit R/A boulders ranged up to 40% U3O8

How to Find a Uranium Deposit:Step 4 – PLS Hole #16, Fall 2012

11Sudoite in hole #16 – a near miss!

How to Find a Uranium Deposit:Step 5 – PLS Hole #22, Fall 2012

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…and returned 1.1% U3O8 over 8.5 metres. Game on!

Hole #22 was 9 metres away from hole #16…

How to Find a Uranium Deposit:Step 6 – PLS Radon‐in‐Water Surveys, Winter 2013

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PLS Radon‐in‐Water survey, 20131978 Publication on Radon‐in‐Water surveys

How to Find a Uranium Deposit:Step 7 – PLS, First Hole at R390 Zone, Feb. 2013

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Hole #38 – 34.0 metres of 4.92% U3O8

Radon‐in‐Water Anomaly:R390 Zone

Patterson Lake

High Grade!

How to Find a Uranium Deposit:Step 8 – PLS (“Triple R”) takes shape, 2013‐2017

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Current Resources at the Triple R Deposit (as of 2018):

Indicated: 87.8 million lbs at 1.82% U3O8

Inferred: 52.9 million lbs at 1.80% U3O8

How to Find a Uranium Deposit:Step 9 – When Found, Drill the Hell Out of It!

16Triple R Deposit: from a “Rescue Dog” to “Best in Show”

Close Lake 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) 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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Uranium is the primary commodity being explored for at Close Lake‐ also significant intersections of: Nickel, Copper, Cobalt, Vanadium, Molybdenum, Zinc, Gold, Platinum and Palladium

Pictured above: Mineralized drill core from 1985 hole CL‐11. Minerals found include pitchblende (UO2 ± U3O8 ), niccolite (NiAs), gersdorffite (NiAsS), galena (PbS) and other sulphides


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• Large property consisting of 21 claims totaling 38,679 hectares (95,576 acres)

• Previous work: 170 drill holes totaling 110,050 m

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

Northern area of Close Lake property

Outline of Cigar Lake Deposit(for comparative purposes)

Hole CL‐11 area


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ALX is testing historical drill samples at the University of Saskatchewan synchrotron (Canadian Light Source facility) for boron enrichment as a targeting vector that could distinguish the location of uranium mineralizing fluids within Close Lake

Pictured above: Canada Light Source synchrotron facility at the University of Saskatchewan facility and “beamline” for boron classification


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ALX is using a new, leading edge downhole IP/Resistivity survey method to locate prospective alteration in up to a 200 m radius from the bottom of a “barren” hole

Conventional ground survey and response Enhanced array provides higher resolution

Downhole drill hole test IP/Resistivity array on surface

300 metre example

Data can be collected over a wide area at depth


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Orano has drill holes planned along East‐West trend extending from Cigar Lake


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Terms of the Option Agreement with Orano

Exploration expenditures (CAD$) + ALX common shares:

• $1.25 million within 12 months + 4 million shares of ALX• $3.5 million within 24 months + 7 million shares of ALX = 20%• $7.0 million within 42 months + 9 million shares of ALX = 35%• $12.0 million within 60 months + 10 million shares of ALX = 51%

ALX earn‐in totals: $12.0 million + 10 million shares of ALX

• Orano has a back‐in right if ALX decides to remain at 35% (Orano makes a “no‐premium” payback), or if ALX reaches 51% (Orano pays 2 times expenditures, i.e., $24.0 million)

• If Orano exercises either back‐in right, ALX would retain an approximate 23% interest in Close Lake

Hook‐Carter Property: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

Black Lake Property• ALX owns 40% and can earn up to 75% from UEX Corporation

• 30,381 ha project hosting a >20km‐long conductive system on NE margin of the Athabasca Basin

• Geophysical exploration and historical drilling has intersected multiple uranium occurrences in drill holes since 2004 (e.g.: BL‐018, 0.69% U3O8over 4.40 m)

• Located in moderate depth sandstone cover (170 m ‐ 600 m to unconformity)

• ALX’s 2017 drilling intersected up to 0.06% U3O8 over 0.15 m in hole BL‐155 associated with pitchblende

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Black Lake Property

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Above: BL‐018 (2004) mineralized intersection 0.69% U3O8 over 4.40 m.

Left: Pitchblende veinlet from ALX’s 2017 hole BL‐155 0.06% U3O8 over 0.15 m

Black Lake Property

• Historical follow‐up of BL‐18 was focussed on the Eastern Conductor edge

• Western Conductor edge has received few drill holes but shows fertility in uranium and base metals

• ALX’s downhole IP/Resistivity survey detected anomalies that remain untested

• Targets in development are located in moderate depth sandstone cover (200 ‐ 230 m to unconformity)

• Radon survey carried out in winter 2019 over Western Conductor edge to support primary targets

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New Projects: ArgoNewModelling = New Targets

Conductor trace (~1.5 km) emerged from ALX’s use of leading‐edge modeling techniques

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~1.5 km Length

ALX’s Argo Project:2018 Radiometric Survey

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1st Priority Area of Interest in 2019

2018 Special Projects Inc. low‐level survey plane

Falcon Nickel and Flying VeeProjects

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

• Staking rush occurred in April‐May 2019 – ALX secured majority of known deposits

• New neighbours include Kobold Metals

Falcon Nickel Project

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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% copper and 0.10% nickel (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.

ALX Exploration Programs:Completed and Upcoming

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• Close Lake: Helicopter‐assisted 2019 drill program is planned for 3Q 2019

• Hook‐Carter: 2019 drilling of 4,797 metres in 6 holes confirmed hallmarks of a widespread mineralizing system. Follow‐up drilling planned for winter of 2020

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

ALX’s CurrentCorporate Objectives

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• Completion of our first drilling program at Close Lake in 3Q 2019

• Initiate exploration on our new nickel‐copper properties

• Farm out non‐core properties to emerging public uranium companies



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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a premier uranium explorer incanada’s athabasca basin · 2019. 9. 16. · • $3.5 million within...

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