Mr. Tim Livesey reports

ALPHA EXPLORATION LTD. ANNOUNCES EXTENSION OF PRIVATE PLACEMENT FINANCING

Further to the press releases dated March 21, 2025, and April 9, 2025, the TSX Venture Exchange has agreed to extend the closing of the second tranche of Alpha Exploration Ltd.'s previously announced non-brokered private placement of units in the capital of the corporation of up to $6-million at a purchase price of 70 cents per unit until June 16, 2025. The first tranche of the offering closed after market close on April 9, 2025, for total aggregate gross proceeds of $3,196,000 as previously announced by the corporation. The principal use of the proceeds of the offering will be for financing continuing exploration work on the Kerkasha project in Eritrea, operating and administrative expenses, working capital, and general corporate purposes.

Each unit consists of one ordinary share of the corporation and one-half of one share purchase warrant. Each warrant entitles the holder to acquire one additional share at a price of $1.05 for a period of 18 months following the closing date of the offering.

Certain insiders of the corporation (as such term is defined under the policies of the TSX-V) may participate in the offering. The participation of insiders in the offering would constitute a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The corporation intends on relying 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 offering, insofar as it involves the related parties, will not exceed $2.5-million.

Further details relating to the closing of the second tranche of the offering will be provided in due course.

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 (514 square kilometres) Kerkasha project in Eritrea.

The corporation has also advanced the Aburna gold prospect, the Tolegimja volcanogenic massive sulphide copper-zinc-gold prospect and over 17 other gold prospects since listing in 2021.

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

We seek Safe Harbor.