Mr. Michael Hopley reports

ALPHA EXPLORATION ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

Alpha Exploration Ltd. has released the results of its annual general meeting of shareholders held on Nov. 6, 2024. All matters presented for approval at the meeting have been fully authorized and approved. A total of 49,958,116.26 ordinary shares, representing 55.10 per cent of the shares issued and outstanding, were represented in person or by proxy at the meeting. A brief description of the matters voted upon and the outcome of the votes is set forth in this news release.

Fixing number of directors

The ordinary resolution to approve fixing the number of directors to be elected at the meeting at five was approved at the meeting by the shareholders present in person or represented by proxy at the meeting, as shown in the attached table.

Election of directors

All of the nominees proposed as directors of the corporation were duly elected as directors of the corporation with votes cast by the shareholders present in person or represented by proxy at the meeting, as shown in the attached table.

Appointment of auditor

An ordinary resolution to approve the appointment of Davidson & Company LLP, chartered professional accountants, as the auditor of the corporation, was approved at the meeting by the shareholders present in person or represented by proxy at the meeting, as shown in the attached table.

Stock option plan

The stock option plan of the corporation, as described in the management information circular of the corporation dated Oct. 7, 2024, was approved with votes cast by the shareholders present in person or represented by proxy at the meeting, as shown in the attached table.

The corporation also wishes to provide a clarification to the circular, where the circular stated that Alpha Discovery Holdings Ltd. holds 29,315,784.2 shares, being 32.336 per cent of the shares of the corporation; the circular should state that Alpha Discovery Holdings holds 50,532,153 shares, representing 55.74 per cent of the shares of the corporation.

Termination of private placement

Further to the corporation's previous announcement on July 16, 2024, of a $6.0-million private placement offering of shares, due to market conditions, the corporation announces that it did not close the private placement within the 45-day offering period prescribed by Section 5A.4(2) of National Instrument 45-106, Prospectus Exemptions. As the private placement did not close within the prescribed offering period, the private placement has been terminated. The corporation continues to consider certain other financing options available to it at this time and will announce any such options it decides to pursue in future news releases in accordance with applicable securities laws.

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 kilometres) Kerkasha project in Eritrea.

The company has also advanced the Aburna gold prospect, the Anagulu gold-copper porphyry prospect, the Tolegimja VMS (volcanic 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 metals discoveries in Eritrea and across the wider Arabian Nubian shield.

We seek Safe Harbor.