Alliance Mining Corp Update

VANCOUVER, BC / ACCESSWIRE / October 29, 2021 / Alliance Mining Corp. (TSXV:ALM) ("Alliance" or the "Company") announces the results of voting at its annual general meeting of shareholders held on Wednesday, September 8, 2021. Shareholders voted overwhelmingly in favour of all items put forward by the board of directors of the Company (the "Board") and Management. 2,791,917 common shares of the Company representing approximately 44.43% of the Company's issued and outstanding common shares as at the record date were voted, with 100% of such shares voting in favour of all the matters before the meeting.

Shareholders voted in favour of setting the number of Directors at 4 and elected the following individuals as directors of the Company: Christopher Anderson, Scott Kent, Ben Catalano and Allan Beaton.

At the Annual General shareholders also voted in favor of the appointment of WDM Chartered Accountants as the Company's auditor for the ensuring year and the adoption of its stock option plan as set forth in the Company's management information circular dated August 4, 2021 (the "Information Circular").

The Company is also pleased to announce that further to the Company's news release of June 4, 2021, the Company has entered into an amended purchase agreement with 1911 Gold Corp, For the sale 1911 Gold's prospective interest in 27 mining claims, totalling 410 hectares, collectively referred to as the Greenbelt property located in the Rice Lake melt, near Bissett, Manitoba. 1911 Gold Corporation has exercised their option to return the shares issued under the agreement to Alliance Mining's treasury and has instead opted to accept the cash payment. The cash payment terms have been amended as follows, 5 monthly payments of $100,000 over the preceding five months. The first payment of $100,000 was made by Alliance on October 25, 2021.

The Greenbelt Property is located within five kilometres of 1911 Gold's True North Complex at Bissett, Manitoba, comprising a fully permitted and operational 1,300 tonnes per day mill and tailings facility, currently reprocessing historical tailings.

ON BEHALF OF THE BOARD

Chris Anderson
CEO, Director

FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900

Investor Relations: 604-488-3900
E-mail: ir@alliancemining.com

Forward-Looking Statement Cautions: This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Although the Company believes that such statements are reasonable based on current circumstances, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts, and by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties, including the possibility the Company may not be successful in its legal action to enforce the performance of the Option Agreement.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law or the policies of the TSX Venture Exchange. Readers are encouraged to review the Company's complete public disclosure record on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

Alliance Mining Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

SOURCE: Alliance Mining Corp.