Alpha Exploration (ALEX.V): Announces Final Drilling Results from Maiden Drill Program at Aburna Gold Prospect

Calgary, Alberta–(Newsfile Corp. – June 27, 2022) – Alpha Exploration Ltd. (TSXV: ALEX) (“Alpha” or the “Company“) is pleased to announce final results from the first drilling program on its Aburna gold prospect, part of the Company’s 100% owned Kerkasha Project, Eritrea. A program consisting of 19 reverse-circulation drill holes was completed in February and March this year and results from 18 of these holes were announced on May 3 and May 25, 2022. Now assay results have been received from the final hole ABR-015.

Highlights

• Drill hole ABR-015 in the Aburna Central area intersected 3 gold mineralized zones: 7 meters at 3.40 g/t gold, 17 meters at 0.35 g/t gold and 27meters at 0.51 g/t gold – see Table 1 below for details.

Table 1 – Summary of Best Intervals from Aburna Drill Hole ABR-015

*Note that at this early stage of exploration the true width of the mineralization is uncertain, but it is estimated to be 70 to 80% of reported intervals. Intervals are calculated with a start and end value of not less than 0.20g/t Au and a maximum internal dilution of 2 m.

Note* Drill Hole ABR-015 was drilled to 114 meters (end of hole) with the last assay being 0.73 g/t gold.

Table 2: Summary of Best Intervals from Aburna Drill Holes ABR-001 to ABR-019

*Note that at this early stage of exploration the true width of the mineralization is uncertain, but it is estimated to be 70 to 80% of reported intervals. Intervals are calculated using a 0.2 g/t Au cut-off and a maximum internal dilution of 2m

Michael Hopley, Alpha President & CEO said, “I believe that Aburna is becoming a major gold discovery for Alpha. Latest results from drill hole ABR-0015 shows more wide zones of gold mineralization which warrant further drilling. Overall, the first drilling campaign at Aburna has been very successful and has shown that at least three areas, Hill 52, Celebration Hill and Aburna Central, on the very large Aburna gold prospect are returning very encouraging drill results. We plan to start follow-up drilling at Aburna in the next few weeks.”

Aburna Gold Prospect

Aburna Gold Prospect

The Aburna gold prospect is located on the western side of the Company’s large Kerkasha Exploration License. Gold was mined at Aburna in the 1920s by Italian colonial miners and more recently by local artisanal miners. Earlier work by Alpha has identified gold mineralization over an area of approximately 4 km by 2 km northeast of the colonial Mine. Gold mineralization at Aburna is orogenic-type associated with three major NE-SW oriented shear zones. Recent work by Alpha has included continuous 1-m long sub-surface channel and trench sampling (See press releases on 4^th November 2021 and 10^th February 2022). Results have defined six prospective sub-areas namely: Hill 52, Saddle Workings, Channel 12 NE, Celebration Hill, Pad 2 and Aburna Central – (see Map 1 below). In addition, consultant structural Geologist Dr. Ghislain Tourigny has completed detailed geological mapping of all these areas.

These latest results are from ABR-015 and are summarized in Table 1. Assay results from drill holes at Aburna are summarized in Table 2.

Map 1 Aburna Gold Prospect

Map 1 above shows 6 prospective areas at Aburna (red ellipsoids) with drill hole locations to date on geology

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8361/129135_78ed85961485d8b4_001full.jpg

Map 4 Aburna Central Area Drill Plan Map

Map 2 above shows the location and surface projection of all drill holes at the Aburna Central area as well as lithology and gold assays per meter, in histogram form.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8361/129135_78ed85961485d8b4_002full.jpg

Notes

Sampling, Sub-sampling and Analysis

Geological consultants from RSC were responsible for the design of a strict QA/QC program consistent with industry best practice. Drilling was by reverse-circulation. Samples were split at the rig using a Metzke splitter, before being transported to a secure location for logging.

All samples were submitted to Nabro Laboratories Limited (Nabro), Asmara, Eritrea, for sample preparation. Samples were crushed (to 90% passing 2.8 mm) and pulverised (to 85% passing 75 µm). Two scoop samples were taken from the pulveriser bowl: approximately 120 g for laboratory analysis and approximately 100 g for portable X-ray fluorescence (pXRF) analysis. The coarse and pulp rejects were stored at a warehouse in Asmara. The Company inserted certified reference material from OREAS (www.ore.com.au) into the sample stream, while Nabro inserted barren granodiorite material into the sample stream as a blank.

Drill samples were shipped to ALS Geochemistry (ALS), Loughrea, Ireland, for analysis. ALS analyzed all drill samples for gold by method Au-AA26 (50 g charge fire assay, AAS finish). ALS is independent of the Company and its quality management systems framework is accredited to ISO/IEC 17025:2005 or certified to ISO 9001:2015 standards.

Table 2 Drill Collar Data

About Alpha

Alpha is an exploration company listed on the TSX-V exchange under the symbol ALEX that has made 3 important discoveries in 2 years at it’s Kerkasha Project in Eritrea:

• Anagulu porphyry gold-copper
• Tolegimja volcanogenic-massive-sulphide (VMS)
• Aburna orogenic gold

The company is managed by a group of highly experienced and successful professionals with many years of experience carrying out exploration and resource development programs in Eritrea and Sudan and is focused on the discovery of world class economic gold and base metals deposits in the highly prospective Arabian-Nubian shield, on either side of the Red Sea. Alpha currently holds a 100% interest in the large (771 km²) Kerkasha Exploration License in southwest Eritrea, located 135 km west-southwest of the capital city of Asmara. Since acquiring the property in January 2018, the company has spent approximately CAD$13 million on exploration and identified 17 in prospects of which six have been drilled to date.

For further information go to the Alpha webpage at www.alpha-exploration.com or contact:

Michael Hopley
President and Chief Executive Officer
Alpha Exploration Ltd.
Email: [email protected]
Tel: +44 207129 1148

Qualified Person

All scientific and technical information in this press release, including the results of the Aburna drill program and how these results relate to the ongoing exploration at the Kerkasha Project has been reviewed, verified, and approved by Michael Hopley, President, Chief Executive Officer of Alpha and a “qualified person” for the purposes of national Instrument 43-101 – Standards of Disclosure for Mineral Projects.

Cautionary Notes

This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

Forward‐Looking Statements

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: future dataset interpretations, sampling, plans for its projects (including the Anagulu prospect), surveys related to Alpha’s assets, and the Company’s drilling program. Often, but not always, forward-looking statements or information can be identified by the use of words such as “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions including among other things, assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.

Although management of Alpha believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to Alpha’s financing efforts; risks associated with the business of Alpha given its limited operating history; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to exploration activities; those factors discussed under the heading “Risk Factors” in the Final Prospectus; and other risk factors as detailed from time to time. Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.