Mr. John Wilton reports

ALPHA EXPLORATION ANNOUNCES PRIVATE PLACEMENT FINANCING

Alpha Exploration Ltd. has arranged a non-brokered private placement financing of units at a price of 60 cents per unit for aggregate gross proceeds of up to $8-million.

Each unit will comprise one ordinary share of the corporation and one-half of one share purchase warrant. Each warrant will entitle the holder to acquire one additional share at an exercise price of 90 cents per warrant share for a period of 18 months immediately following the closing date (as defined below).

The corporation expects to close the private placement on or about April 29, 2026, or such other date as the corporation may determine in its sole discretion.

The net proceeds of the private placement will be used to finance continuing exploration work on the Kerkasha project in Eritrea, operating and administrative expenses, working capital and general corporate purposes.

Completion of the private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The TSX-V has not approved the offering price or the exercise price and these remain subject to change. The shares, warrants and warrant shares will be subject to a statutory hold period of four months plus one day from the closing date, in accordance with applicable securities legislation.

It is expected that certain insiders of the corporation (as such term is defined under the policies of the TSX-V) may participate in the private placement. The participation of insiders in the private placement will constitute a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The corporation intends to rely upon exemptions from the formal valuation and minority approval requirements of MI 61-101 based on a determination that the fair market value of the private placement, insofar as it involves the related parties, does not exceed 25 per cent of the market capitalization of the corporation.

About Alpha Exploration Ltd.

Alpha is an exploration company that is rapidly advancing several important gold and base metal discoveries across its 100-per-cent-owned, large (514-square-kilometre) Kerkasha project in Eritrea. The Aburna gold prospect is an exciting new gold discovery covering a very large 7.2-kilometre-by-two-kilometre footprint, where recent drilling has established a high-grade discovery with grades including 18 metres at 15.33 grams per tonne gold, 49 m at 2.75 g/t Au, 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 with recent drilling intersections of 108 m at 1.24 g/t Au and 0.60 per cent copper, including 49 m at 2.42 g/t Au and 1.10 per cent Cu, and 109 m at 0.79 g/t Au and 0.35 per cent Cu within a porphyry unit and with an exploration target footprint of approximately four km by two km. The company is also exploring the Tolegimja copper-zinc-gold volcanogenic massive sulphide prospect and has identified over 17 other gold and base metal targets since listing in 2021.

Alpha is managed by a team of highly experienced and successful mining professionals with long records of establishing, building and successfully exiting a number of world-class gold and base metal discoveries in Eritrea, across the wider Arabian-Nubian Shield and other regions of Africa.

We seek Safe Harbor.