Alex Metals to Commence Trading on TSXV Under Symbol 'ALX' Following $12.2 Million Go-Public Financings, Announces Closing of Additional Financing for $3.9 Million

Vancouver, British Columbia--Alex Metals Corp. ("Alex Metals", the "Company" or "ALX") is pleased to announce that its common shares ("Common Shares") were listed on the market open today, September 22, 2026, on the TSX Venture Exchange (the "TSXV") under the ticker symbol "ALX". The listing follows the successful completion of the Company's go-public financings, which raised aggregate gross proceeds of approximately C$16.1 million, as further detailed in the Company's final prospectus dated September 14, 2026, available on the Company's profile on SEDAR+ at www.sedarplus.ca. The Common Shares were listed for trading on the TSXV as of market open on September 22, 2026, under the trading symbol "ALX" and were immediately halted pending closing of the Private Placement as detailed below. Following closing of the Private Placement, the Common Shares are expected to commence trading on the TSXV on September 25, 2026. The CUSIP/ISIN assigned to the Common Shares is 01451H104 / CA01451H1047. Alex Metals is a discovery-driven exploration company with three projects in Southeast Alaska, a region that hosts several world-class volcanogenic massive sulphide ("VMS") deposits but that has seen limited exploration in recent decades. With extensive experience in coastal Alaska and deep knowledge of VMS geology, Alex Metals' team acquired projects with mineralization on surface or in limited historic drilling with a plan to apply modern exploration methods to drive towards a new precious metals-rich VMS discovery in this prospective region. "Alex Metals is coming to trade near the end of our first field season, during which we drilled four targets across two projects while completing significant geophysics, mapping, and sampling across our portfolio in Southeast Alaska," said Gwen Preston, President and CEO. "In a mining market looking for buildable deposits that can generate strong returns, VMS projects are attracting attention and I am excited to see what Alex Metals can deliver in the near and long term with our strong technical team, promising projects in a resource-functional jurisdiction, and drive for discovery." Private Placement The Company also announces closing of its previously announced non-brokered private placement of 5,526,999 common shares of the Company ("Common Shares") at a price of $0.70 per Common Share for gross aggregate proceeds of $3,868,899 (the "Private Placement"). Pursuant to the Private Placement, the Company paid finder's fees of $92,298 to certain eligible arm's length finders. The Company intends to use the net proceeds of the Private Placement for exploration of its mineral properties and for general working capital purposes. The Private Placement remains subject to final approval of the TSXV. All securities issued in connection with the Private Placement are subject to a four-month hold period from the date of issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. None of the securities sold under the Private Placement have been or will be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. In connection with the Private Placement, certain directors and officers of the Company, (the "Interested Parties") participated in the Private Placement by purchasing an aggregate of 166,000 Common Shares (the "Insider Subscriptions") for $116,200 (representing approximately 3% of the proceeds from the Private P...