Alliance Mining Closes Financing With A Two Year Escrow Provision

VANCOUVER, July 29, 2021 - Alliance Mining Corp. (TSXV:ALM) ("Alliance" or the "Company) The Company wishes to advise all subscribers from its private placement that was announced on March 24, 2021, that the Company is accelerating the term of the warrants issued with this placement. The term of the $0.30 warrants associated with this placement may be accelerated in the event that the issuer's shares trade at or above a price of $0.35 per share for a period of 10 consecutive days. In May, June, and July of 2021, after the final closing announced on May 3, 2021, the shares of the Company traded in this range. The warrants being accelerated at $0.30 are attached to the $0.1875 private placement that took place in March and April 2021. Warrant holders now have 30 days from today's date to exercise their warrants or the warrants will expire.

ON BEHALF OF THE BOARD
Anonymous
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.