Alliance Mining Corp. announced that it has completed the Greenbelt purchase from 1911 Gold Corp., owner of the historic San Antonio/True North gold mine/mill complex in Bissett, Manitoba. The Greenbelt property lies 3 km south of Bissett, in the Red Rice Lake area.

The Greenbelt property comprises 27 historic mining claims, including the Lisgar, Fox and Wolf claims, originally staked in the 1910s and 1920s, among the first claims staked in this belt. The Greenbelt purchase comprises a 50% operator interest in this historic 411-hectare property, with the other 50% held by Greenbelt Gold Mines Ltd. As outlined in a 2005 agreement pre-dating 1911 Gold Corp., Alliance has a joint venture with Greenbelt Gold Mines Ltd. to explore these claims as part of its overall Red Rice gold project. The purchase also includes 1911 Gold Corp.'s 100% interest in four small mining claims totaling 50 hectares, lying within and adjacent to the Greenbelt claims. Total consideration for the Greenbelt purchase was CAN 500,000.

Further to the Company's news release of October 29, 2021, 1911 Gold Corp. is returning 500,000 shares of Alliance, and these shares will be returned to Company treasury. Among the claims included in the Greenbelt purchase is the Fox claim, which has had 54 drill holes between 1973 and 2005.

Alliance is presently re-sampling 2005 drill core from the Fox vein. The nearby Wolf claim has an old shaft and significant trenching, but only 4 drill holes on record. Check sampling of surface exposures on both the Fox and Wolf veins by Alliance in 2021 returned significant gold values.

Alliance will be undertaking a compilation of the large volume of historical data available on this property, dating back to the first gold discoveries in this belt over a century ago.