Mr. Paul Baay reports

ALKALI3 RESOURCES INC. PROVIDES UPDATE ON PROPOSED REVERSE TAKE-OVER WITH LOOP INSIGHTS INC.

Alkali3 Resources Inc. has provided an update on the proposed transaction with Loop Insights Inc., a private British Columbia corporation, whereby Alkali3 will acquire all of the issued and outstanding securities of Loop by way of a share exchange, amalgamation or such other form of business combination as the parties may determine. Alkali3 and Loop entered into a non-binding letter of intent regarding the transaction that was announced in a press release dated April 25, 2018, pursuant to which exclusivity between the parties was extended from June 30, 2018, to July 31, 2018, as announced in a press release dated July 3, 2018.

Both Alkali3 and Loop remain committed to consummating the transaction, and both parties are currently in the process of negotiating the definitive agreement, each of the parties completing due diligence including Loop addressing certain outstanding business matters, and preparing the documentation required in connection with the proposed transaction, including the joint management information circular and financial statements of Loop which will be included therein. The parties anticipate entering into the definitive agreement shortly. The proposed transaction remains subject to a number of conditions, including, but not limited to, receiving approval of the shareholders of each of Alkali3 and Loop, and approval from the TSX Venture Exchange. The transaction cannot be completed until the required shareholder, regulatory and other approvals are obtained.

Further information regarding the transaction will be provided in a joint management information circular of Alkali3 and Loop, which is expected to be mailed to the shareholders of each of Alkali3 and Loop in the fourth quarter of 2018 in connection with the annual general and special meeting of Alkali3 shareholders and a special meeting of Loop shareholders, each to be held to consider and approve the transaction, among other things.

Further information about Loop, including financial information, details on its assets and operations, and further details concerning the directors and officers of the resulting issuer will be included in a further news release.