ALM.V · 2022-12-21 12:00:00

Alliance Mining Closes Financing

Financings

December 21, 2022 TSX.v: ALM

Vancouver, British Columbia: Alliance Mining Corp. (TSX.V: ALM) (“Alliance” or the

“Company”) is pleased to announce that it has closed the private placement previously

announced on December 9, 2022 for gross proceeds of $120,000. The units of the financing

comprised of one common share at a price of $0.06 and a full share purchase warrant, which may

be exercised for a period of 60 months at a price of $0.12 per share.

The proceeds of the private placement will be used for general working capital and exploration

work at the Company’s Red Rice Lake property located in the centre of the Bissett gold camp in

Manitoba.

All securities issued in connection with the Offering will be subject to a hold period of April 21,

2023. No finders’ fees were paid for the placement.

The closing of the private placement financing is subject to final TSX-V approval.

Christopher Anderson a director and/or officer of the Company, participated in the Offering

constituting a related party transaction pursuant to TSX Venture Exchange Policy 5.9 and

Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions

(“MI 61-101”). The Company relied on section 5.5(a) of MI 61-101 for an exemption from the

formal valuation requirement and section 5.7(1)(a) of MI 61-101 for an exemption from the

minority shareholder approval requirement of MI 61-101 as the fair market value of the

transaction did not exceed 25% of the Company’s market capitalization.

ON BEHALF OF THE BOARD

Chris Anderson

Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Alliance Mining Corp.

(604) 488-3900

Investor Relations: 604-488-3900

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 Compa ny’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 Ven ture Exchange)

accept responsibility for the adequacy or accuracy of this release.

Alliance Mining Corp.

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