Mr. Michael Hopley reports

ALPHA EXPLORATION ANNOUNCES FINAL ASSAY RESULTS INCLUDING 5M @ 11.03 G/T GOLD AT ABURNA

Alpha Exploration Ltd. has released final results from the first phase of its 2024 drilling program on its Aburna gold prospect on the company's 100-per-cent-owned, 771-square-kilometre Kerkasha project located in Eritrea. Drilling consists of both reverse-circulation (RC) drilling and diamond core (DC) drilling.

Final assays have now been received for the remaining 16 drill holes drilled at Aburna in Q1 (first quarter) 2024, and including five holes from Hill 52, five drill holes from Central area and a further six drill holes at Northeast area. All drill holes, except for DD (diamond drilling) holes ABD014, ABD015 and ABD016, were drilled as diamond tail extensions to existing RC drill holes completed earlier in March this year, and were designed to test mineralization down plunge of the current mineralized lenses at all three prospects. Additional drilling results reported in this first phase program area available at the company's website.

Highlights:

• Drill hole ABRD113: five metres at 11.03 grams per tonne (g/t) gold (Au) (Northeast area);
• Drill hole ABRD118: four m at 5.94 g/t Au (Central area);
• Drill hole ABRD105: 22 m at 1.71 g/t Au (Central area);
• Drill hole ABRD104: 18 m at 1.17 g/t Au (Central area);
• First phase, 6,247 m drilling program now complete.

Alpha has now completed the first phase of a planned 20,000 m, 2024 drilling program at Aburna. Drill hole ABRD113 was designed to test the main Northeast area mineralized shoot at depth and successfully intercepted the high-grade lens, including five m at 11.03 g/t Au. The width and grade of the intercept are consistent with the rest of the Northeast area footwall shoot that includes prior drill holes ABR037 (16 m at 14.07 g/t Au) and ABR078 (nine m at 5.99 g/t Au). Drill hole ABRD118 was designed to test down-dip potential at Central area and successfully intercepted four m at 5.96 g/t Au, extending known mineralization down dip.

Aburna is a major, district-scale orogenic gold prospect covering an area of at least seven kilometres long and two km wide, and is one of the three significant discoveries made by Alpha on the Kerkasha licence in the last three years. Exploration to date by Alpha on the project has defined six primary areas of interest at Aburna, and has established significant high-grade gold mineralized systems at Central area, Hill 52 and Northeast area.

Michael Hopley, Alpha president and chief executive officer, said: "We are pleased to report further positive results from the first phase of our 2024 drilling program at Aburna. In particular, drill hole ABD113 in Northeast area has further confirmed the plunging high-grade mineralized orientation at Aburna, extending the principal shoot down plunge.

"Following receipt and interpretation of all assays now from this first phase program, and the successful conclusion of $7-million financing, where Alpha, in aggregate, raised $6.85-million, the company is now well funded to accelerate exploration on the Aburna gold prospect, as well at the other principal projects on our licence. We look forward to updating shareholders on our next work programs on Aburna in due course."

Completion of first phase 2024 drill program

The company commenced the first phase drill program in December, 2023. To date, 33 drill holes for 6,247 metres have been drilled at Central area (13 drill holes), Hill 52 (11 drill holes) and Northeast area (nine drill holes). Further assay results have been received from 16 of these 33 drill holes. A full table of significant intercepts from assay results received to date is shown in the table entitled "Significant drilling intercepts from assays received."

Sampling, subsampling and analysis

Alpha engaged an independent consultancy, RSC Mining & Mineral Exploration (RSC), to develop a standard operating procedure (SOP) for both RC and DD drill samples in June, 2021, and all samples in this release use this RSC SOP. The RSC SOP utilizes blank standards and industry standards that are inserted at the beginning and end of every batch (and every 20 samples within the batch) for all batches submitted to ALS Geochemistry, Loughrea, Ireland, for assay. Additionally, field replicates are taken at a frequency of about one in five (20 per cent) through mineralized areas.

One-metre samples from both RC and DD drilling were crushed (to more than 90 per cent passing two millimetres (mm)) and pulverized (to more than 85 per cent passing 75 micrometres). Two scoop samples were taken from the pulverizer bowl: approximately 130 grams for laboratory analysis and approximately 150 g for portable X-ray fluorescence (pXRF) analysis. The coarse and pulp rejects were stored at Alpha's warehouse in Asmara. The company inserted certified reference material from OREAS into the sample stream, while Nabro Laboratories Ltd. in Asmara inserted barren granodiorite material into the sample stream as a blank. Samples were shipped to ALS for analysis. ALS analyzed all drill samples for gold by method Au-AA26 (50 g charge fire assay, AAS (atomic absorption spectroscopy) 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.

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 18 metres at 15.33 grams per tonne gold, 16 m at 14.07 g/t Au, nine m at 10 g/t Au and 23 m at 6.74 g/t Au. The Anagulu gold-copper prospect includes recent drilling intersections of 108 m at 1.24 g/t Au and 0.60 per cent copper, and 49 m at 2.42 g/t Au and 1.10 per cent Cu within a porphyry unit mapped over at a mor than two km strike length. The company is also advancing exploration of the Tolegimja volcanogenic massive sulphide copper-zinc-gold prospect, and over 17 other gold and base metal 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 metals 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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