Alpha Minerals Inc.
TSX VENTURE : AMW
FRANKFURT : E2GA

Alpha Minerals Inc.

April 15, 2013 07:30 ET

Alpha Minerals Inc.: Resource Potential Expands with 9.9m Off-Scale in 26.5m Interval at Patterson Lake South, R00E Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 15, 2013) - Alpha Minerals Inc. ("Alpha" or "the Company") (TSX VENTURE:AMW)(FRANKFURT:E2GA), and its Joint Venture partner Fission Energy Corp. are pleased to announce radioactivity results from the final 10 drill targets from the winter 2013 exploration program at the Patterson Lake South ("PLS") property. The final 10 holes to report consist of:

Six holes from the R00E Zone, 2 holes from the R390E Zone and 2 holes testing regional targets.

Further drilling at the R00E zone has extended the strike length of high-grade mineralization to more than 120m with widths of up to 50m. R00E is one of three broad, relatively shallow-depth discovery zones identified during Winter drilling program and remains open along strike and width.

R00E Zone Highlights include:

  • PLS13-059 (line 030W) intersected 26.5m of mineralization (55.0m - 86.0m) with a total of 9.9m of off-scale (>9999 cps) radioactivity including a 6.5m section of continuous off-scale radioactivity
  • PLS13-067 (line 045E) intersected 7.5m of mineralization (51.5m - 110.5m) with a total of 2.0m of off-scale (>9999 cps) radioactivity
  • PLS13-058 (line 010W) intersected 18.0m of mineralization (65.0m - 87.5m) with a total of 0.5m of off-scale (>9999 cps) radioactivity

Other Highlights:

  • 46 holes drilled this winter with 37 mineralized (overall 80% success ratio of intersecting mineralization)
  • R00E Zone: 23 of 28 holes mineralized (82%)
  • R390E Zone: 11 of 11 holes mineralized (100%)
  • R780E Zone: 3 of 3 holes mineralized (100%)
  • 4 Regional holes, no mineralization - yet

The winter drill program, which has completed 10,182.6m in 46 completed drill-holes, is now complete. Three separate zones along a semi-continuous conductor corridor, the PL-3B EM conductor (as identified by magnetic, resistivity and electromagnetic (EM) geophysical surveys with the three zones supported by discrete radon and radon in water anomalies), have been discovered and partially delineated, with all 3 zones remaining largely open in all directions. Additional drilling is required to continue to delineate the mineralized areas.

Radon surveying, that has been a great support to the discoveries of new mineralization, restarted to cover gaps in the earlier experimental coverage and is ongoing for as long as ice conditions permit.

R00E Zone:

Six close spaced holes were completed on lines 010W, 030E, 045E and 060E of the R00E zone. Interpretation thus far shows mineralization to be primarily focused in a footwall steeply south dipping package of E-NE trending pelitic gneiss, sandwiched between a semi-pelitic rock to the north and a quartz-feldspar gneiss to the south. This lithologic package appears to be parallel along strike to the ~073° oriented basement EM conductor identified from airborne and ground geophysics surveys.

As was the case with previous drill results from the R00E zone, the main mineralized horizon appears to be structurally controlled and generally flat lying within the pelitic (+/- graphite) unit, with the upper level of the mineralized zone occurring at or near the top of the Archean basement rocks, immediately below a thin veneer or Devonian sandstone. Mineralization has been traced along strike from line 060W to line 060E. The zone remains open along strike both to the west and east and width (north-south).

Line 010W

One vertical drill hole (PLS13-058) was collared 10m north of PLS12-025 and successfully extended the delineated width of mineralization over 30m. The hole intersected a 22.5m interval of weak to strong (65.0m - 87.5m) including a narrow 0.05m interval of off-scale (>9999 cps) radioactivity

Line 030E

Angle hole PLS13-059 was collared at 301° azimuth and a dip of -72° to test for mineralization on line 030E, approximately 15m east of the mineralization in hole PLS13-052. The hole intersected two zones of weak to strongly radioactive mineralization, both with discrete intervals of off-scale (>9999 cps) radioactivity: a 7.0m wide upper zone (55.0m - 62.0m) including a total of 1.9m of off-scale (>9999 cps) radioactivity and a 19.5m wide lower zone (66.5m - 86.0m) including a total of 8.0m of off-scale (>9999 cps) radioactivity in several intervals.

Line 045E

Three drill holes (PLS13-067, 069 and 071) were drilled on line 045E. The drill holes were all collared vertical on a 10m spacing. The best results were returned from hole PLS13-067, the southern-most hole, which intersected a 6.5m interval of weak to strong mineralized radioactivity (61.0m - 67.5m) including 2.0m of off-scale (>9999 cps) radioactivity in several discrete intervals throughout. Hole PLS13-069 was collared 10m to the north of hole PLS13-067 and intersected three intervals of weak to moderate radioactivity (52.0m - 54.0m, 72.5m - 73.5m and 98.5mm - 102.0m respectively). Hole PLS13-071 was collared 10m north of PLS13-069 and did not intersect any significant mineralization. Due to technical problems, a downhole gamma probe could not be conducted. Mineralization on line 045E is open to the south.

Line 060E

One vertical drill hole (PLS13-065) was collared on line 060E, 15m east of PLS13-069. The hole intersected a 4.0m interval of weak mineralization (50.5m - 54.5m). Mineralization is open both to the north and south. Results from drilling on line 045E (PLS13-067) suggest that targets to the south on line 060E remain the most prospective.

Hole Summary

R00E
Collar * Hand-held Scintillometer
Results On Mineralized
Drillcore
(>300 cps /
>1.0M minimum)
Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Width
(m)
CPS
Peak
Range
Sandstone
From -
To (m)
Basement
Uncon-
formity
Depth
(m)
Total
Drill-
hole
Depth
(m)
PLS13-058 010W 262 -89 65.0 87.5 22.5 <300 - >9999 63.1 - 66.5 66.5 194.2
PLS13-059 030E 301 -72 55.0 62.0 7.0 500 - >9999 53.3 - 56.2 56.2 194.2
66.5 86.0 19.5 370 - >9999
PLS13-065 060E 256 -89 50.5 54.5 4.0 <300 - 1400 50.5 - 51.0 51.0 218.5
PLS13-067 045E 24 -89 61.0 67.5 6.5 570 - >9999 49.2 - 51.2 51.2 209.4
PLS13-069 045E 17 -89 52.0 54.0 2.0 600 - 7200 50.0 - 52.2 52.2 185.0
72.5 73.5 1.0 320 - 420
98.5 102.0 3.5 <300 - 550
PLS13-071 045E 0 -90 No Significant Radioactivity 50.6 - 51.0 51.0 108.8
* Scintillometer Instrument: Exploranium GR-110G

R390E Zone:

The R390E zone refers to the zone of mineralization located ~390m on-strike to the east of R00E, and first encountered in PLS13-038 (see news release Feb 19, 2013). As is the case with the R00E zone, R390E mineralization is spatially located proximal to the north of the PL-3B basement EM conductor and situated within a well-defined resistivity low corridor. The mineralization lies beneath a thin cover of Devonian clastic sediments and, like zone R00E, does not represent the source of the uranium boulder field that encouraged this subsequent exploration effort.

Drillhole interpretation thus far defines the area of mineralization to be associated with a steeply south dipping pelitic (+/- graphitic) lithology sandwiched between a semipelitic gneiss to the north and a quartz-feldspar gneiss to the south, where the mineralization is focused primarily near the contact between the pelitic gneiss and quartz-feldspar gneiss.

Line 390E:

Two holes (PLS13-068 and 070) were drilled on line 390E to test for width of the R390E zone. PLS13-068 was a vertical hole collared 10m grid north of PLS13-044. A 1.3m wide interval of Devonian sandstone (49.2m - 50.5m) overlies a basement pelitic gneiss, transitioning to semipelitic gneiss from 62.6m to the end of hole (236.8m). A 21.5m wide weak to locally moderately radioactive mineralized interval (95.5m - 117.0m) is present within the basement semipelitic unit. PLS13-070 was a vertical hole collared 10m north of hole PLS13-068. Basement rock was encountered at 46.6m depth and consists of a semipelitic gneiss to the end of hole (258.2m). A 3.5m wide weakly mineralized zone (85.5m - 89.0m) was intersected.

Hole Summary

R390E
Collar * Hand-held Scintillometer
Results On Mineralized
Drillcore
(>300 cps /
>1.0M minimum)
Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Width
(m)
CPS
Peak
Range
Sandstone
From -
To (m)
Basement
Uncon-
formity
Depth (m)
Total
Drill-
hole
Depth
(m)
PLS13-068 390E 105 -89 95.5 117.0 21.5 <300 - 3300 49.2 - 50.5 50.5 236.8
PLS13-070 390E 123 -89 85.5 89.0 3.5 <300 - 2100 No Sandstone 46.6 258.2
* Scintillometer Instrument: GR-110G

Step Out Drilling, East Patterson:

Two drill holes tested regional targets further along trend and on a parallel conductor to the north. This area is designated Regional East by the JV Operator.

PLS13-057 was targeted as a follow-up test to hole PLS13-040 (see news release March 11, 2013), which was targeted on an EM conductor and coincident intense resistivity low located ~2.2km to the east of the R00E Zone. Hole 040 was interpreted to be analogous to the northern semipelitic unit which bounds mineralization further to the west in R780E. Hole 057 was drilled to test further to the south where it was interpreted to be in the pelitic corridor. However no pelite was encountered in hole 057 and no associated mineralization.

PLS13-063 was targeted based on a low priority radon anomaly coincident with one of the central EM conductors and a resistivity low. Basement rock was encountered at 54.5m. A favorable sequence of alternating pelitic and semi-pelitic gneiss was intersected from 54.5m - 163.7m (end of hole). A Diabase unit was intersected from 128.7m - 132.4m. No anomalous radioactivity was encountered.

Hole Summary

Regional East
Collar * Hand-held Scintillometer
Results On Mineralized
Drillcore
(>300 cps /
>1.0M minimum)
Hole ID Grid
Line
Az Dip From (m) To
(m)
Width
(m)
CPS
Peak
Range
Sandstone
From -
To (m)
Basement
Uncon-
formity
Depth (m)
Total
Drill-
hole
Depth
(m)
PLS13-057 2190E 0 -90 No Significant Radioactivity No Sandstone 54.6 152.4
PLS13-063 990E 0 -90 No Significant Radioactivity No Sandstone 54.5 163.7
* Scintillometer Instrument: GR-110G

Important Guidelines:

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. Borehole radioactivity is measured downhole using a Mount Sopris 2GHF-1000 Triple Gamma probe. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole, core interval measurements and true thickness are yet to be determined.

All holes, with the exception of PLS13-071, have been radiometrically surveyed using either a Mount Sopris 2GHF-1000 Triple Gamma probe or a Mount Sopris 2PGA-1000 Gamma probe. The 2GHF-1000 Triple Gamma probe allows for accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high grade mineralization.

Split core samples from the mineralized section of core have been collected continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All samples sent for analysis will include a 63 element ICP-OES, uranium by fluorimetry and boron. Assay results will be released when received.

Patterson Lake South Property

The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc (AMW) and Fission Energy (FIS). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Fission is the Operator until April 1st 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine, (>60M lbs of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development. Staking activity in the area surrounding the JV has accelerated with almost twice the area occupied by the JV now covered with new tie on claims. Updated maps highlighting the current drilling programs for PLS can be found on the Company's website at www.alphaminerals.ca.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of Alpha Minerals Inc, by Garrett Ainsworth, P.Geo., Vice President Exploration, a qualified person.

On behalf of the Board of Directors of Alpha Minerals Inc.

Ben Ainsworth, President, CEO and Director

Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for further and updated information.

This press release contains "forward-looking information" that is based on Alpha's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Alpha's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Alpha's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Alpha disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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