Mr. Michael Hopley reports

ALPHA EXPLORATION ANNOUNCES METALLURGICAL RESULTS FROM ABURNA

Alpha Exploration Ltd. has released results from metallurgical test work completed on gold samples taken from the Aburna gold prospect on the company's 100-per-cent-owned, 771-square-kilometre Kerkasha project located in Eritrea.

The test work was undertaken at two independent laboratories to assess the amenability of gold recovery from Aburna sulphide-bearing mineralization.

Highlights:

• 88.6-per-cent to 91.9-per-cent gold recoveries using a 24-hour cyanide leach at 75-micrometre grind size on composite samples representative of Aburna mineralization;
• Preliminary results highlight positive potential metallurgical characteristics for future process plant design.

Michael Hopley, president and chief executive officer of Alpha, said: "We are pleased to report results of preliminary metallurgical test work from Aburna with gold recoveries of up to 91.9 per cent from cyanide leaching on sulphide-bearing samples with low cyanide consumption. Samples were collected across the Aburna project (so as to be representative) and tested at Maelgwyn's laboratory in South Africa. The test work was undertaken to assess the likely performance of potential Aburna gold mineralization within a CIL [carbon-in-leach] processing facility. Separate analysis undertaken by ALS Geochemistry in Perth of 18 representative samples from Aburna using screen fire assay and cyanide-recoverable gold provided results that are consistent with the Maelgwyn analysis, indicating that there is limited variability in cyanide-recoverable gold at the Aburna project.

"Although Aburna is at a relatively early stage, the analysis undertaken from these two studies provides Alpha with significant comfort that Aburna has favourable metallurgical characteristics as the company continues to advance the project. A 10,000-metre drill program is now well under way, and we look forward to updating shareholders on drill progress and other developments in due course."

Metallurgical test work program

Leach and gravity test work -- Maelgwyn

Maelgwyn based in Gauteng, South Africa, was commissioned by the company to investigate the CIL amenability for the typical sulphide domains of Aburna. A total of four approximately 15-kilogram sulphide-bearing samples selected from various drill holes within Aburna were composited. The head grade of the composite samples ranged from 3.41 grams per tonne to 36.8 grams per tonne gold. The samples were submitted for separate gravity, flotation leach and industry-standard cyanide leach techniques. The results of the test work are summarized in an attached table.

Results of flotation tests

The test work generated a leach flotation concentrate from 68.04 per cent to 81.9 per cent to mass pulls of 10.8 per cent to 24.7 per cent. A flotation leach test is undertaken to investigate the production of a low-mass-pull preconcentrate to minimize eventual plant operating costs and capital costs.

Results of gravity tests

Gravity testing was completed using a bench test with 80 per cent of material passing 212 micrometres. Gold recoveries to these concentrates were relatively low ranging from 7.92 per cent to 18.71 per cent.

Results of fine mineralization leach tests on sulphide-bearing samples

Gold recovery on the whole leach tests reached 91.90 per cent at a grind size of 75 micrometres. Cyanide consumption for the tests was low, ranging from 0.37 kilogram per tonne to 0.59 kilogram per tonne NaCN (sodium cyanide). Lime consumption ranged from 1.34 kilograms per tonne to 1.62 kilogram per tonne CaO (calcium oxide).

From the three analyses completed, utilizing traditional milled sample cyanide leaching delivered a superior result without the need for flotation or gravity processing.

Screen fire assay and cyanide recoverable gold

Results of cyanide recoverable gold (ALS method ME-CN15) compared with screen fire assay gold values (Au-SCR24) in gold samples collected from a range of lithologies and across a grade range from 2.6 grams per tonne to 131.5 grams per tonne gold were consistent with the metallurgical results reported from Maelgwn herein and suggest minimal variability in cyanide-recoverable gold across the Aburna project area (see attached table).

Trenching program

Assay results received from a series of 20 exploratory trenches totalling 967 metres across the Dasharna and North East areas and across the southwest of Aburna have been received and did not intersect significant mineralization.

About Alpha Exploration Ltd.

Alpha is an exploration company that is rapidly advancing a number of important gold and base metal discoveries across its 100-per-cent-owned, large (771-square-kilometre) Kerkasha project in Eritrea.

The Aburna gold prospect is an exciting new gold discovery where recent drilling has established a high-grade discovery with grades including 16 metres of 14.07 grams per tonne gold, nine metres of 10 grams per tonne gold and 23 metres of 6.74 grams per tonne gold. The Anagulu gold-copper prospect includes recent drilling intersections of 108 metres of 1.24 grams per tonne gold and 0.60 per cent copper and 49 metres of 2.42 grams per tonne gold and 1.10 per cent copper within a porphyry unit mapped over at a greater-than-two-kilometre strike length. The company has also advanced the Tolegimja volcanogenic massive sulphide copper-zinc-gold prospect and over 17 other gold prospects since listing in 2021.

The company is managed by a group of highly experienced and successful professionals with long records of establishing, building and successfully exiting a number of world-class gold and base metal discoveries in Eritrea and across the wider Arabian Nubian Shield.

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 continuing exploration at the Kerkasha project, has been reviewed, verified and approved by Mr. Hopley, president and chief executive officer of Alpha and a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

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