Alpha Exploration Ltd. – Grant of stock options

Calgary, Alberta–(Newsfile Corp. – March 8, 2022) – Alpha Exploration Ltd. (TSXV: ALEX) (“Alpha“or the”Company“) announces its intention to grant 100,000 stock options to a director. The exercise price of the stock options has been set at C$0.66 and the stock options will be exercisable for a period of five years, until March 8, 2022 inclusively.

The granting of stock options is subject to the approval of the TSX Venture Exchange.

About Alpha

The company is focused on discovering world-class economic deposits of gold and base metals in the highly prospective Arabian-Nubian Shield, on either side of the Red Sea. Alpha currently owns a 100% interest in the large (771 km2) Kerkasha exploration permit in southwestern Eritrea on which 17 prospects have been identified to date. The large Anagulu gold-copper porphyry system was a pristine discovery by Alpha geologists in early 2018, which was made while running a region-wide soil sampling program. property. The discovery diamond hole was drilled in January 2020 and returned a 49m wide interval averaging 2.42 g/t gold, 1.10% copper and 6.83 g/t silver.

Cautionary Notes

This press release is for distribution in Canada only and is not for distribution to US news services or broadcast in the United States.

Forward-looking statements

Certain statements and information contained herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Often, but not always, forward-looking statements or information can be identified by the use of words such as “estimate”, “project”, “believe”, “anticipate”, “intend”, “expect to ”, “plan”, “predict”, “may” or “should” and the negative form of these words or such variations or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions, including assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.

Although Alpha’s management believes that the assumptions made and expectations represented by such statements or information are reasonable, there can be no assurance that any forward-looking statements or information contained herein will prove to be accurate. Forward-looking statements and information, by their nature, are based on assumptions and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or results of the industry, materially different from future results, performance or achievements. expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with Alpha’s funding efforts; risks associated with Alpha’s business given its limited operating history; business and economic conditions in the mining industry generally; supply and demand for labor and other project inputs; changes in commodity prices; changes in interest rates and currency exchange rates; risks related to inaccurate geological and technical assumptions (including with respect to tonnage, grade and recoverability of reserves and resources); risks related to unforeseen operational difficulties (including failure of equipment or processes to perform according to specifications or expectations, cost escalation, unavailability of materials and equipment, action governmental or delays in receiving governmental approvals, industrial disruptions or other business measures, and unforeseen health, safety and environmental events); weather-related risks; political risk and social unrest; changes in general economic or financial market conditions; changes in laws (including regulations regarding mining concessions); risks related to the direct and indirect impact of COVID-19, including, but not limited to, its impact on general economic conditions, the ability to obtain necessary financing and potential delays in the activities of exploration. and other risk factors as detailed from time to time. Alpha does not undertake to update forward-looking information except in accordance with applicable securities laws.

For more information, visit Alpha’s webpage at www.alpha-exploration.com or contact:

Michael Hopley
President and CEO
Alpha Exploration Ltd.
Email: [email protected]
Tel: +44 207129 1148

Cautionary Notes

This press release is for distribution in Canada only and is not for distribution to US news services or broadcast in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115996

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