Alpha Minerals Inc.
TSX VENTURE : AMW
FRANKFURT : E2GA

Alpha Minerals Inc.

August 12, 2013 06:30 ET

Alpha Minerals JV Hits 13.41m Total Composite "Off-Scale" Radioactivity in 48.5m of Mineralization 780 Meters East of Discovery Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2013) - Alpha Minerals Inc. (TSX VENTURE:AMW)(FRANKFURT:E2GA), (the "Company" or "Alpha"), and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce results for hole PLS13-080 at R780E Zone, Patterson Lake South ("PLS"), the first hole drilled on the R780E zone this program. With 13.41m composite off-scale (>9999 cps) mineralization, including 7.6m continuous off-scale, PLS13-080 has returned radioactive results indicating the widest continuous and strongest uranium mineralization encountered so far at the 780E Zone.

The hole, which is located approximately 10m grid south of PLS13-060 (line 780E), has delivered mineralized intersections that appear similar to many of those encountered at the R390E Zone, such as hole PLS13-038 which assayed 4.92% U3O8 over 34.0m (see news release March 24, 2013).

PLS13-080 Drilling Highlights include:

  • Multiple zones of basement mineralization from 122.5m - 318.5m
  • Main Zone - 48.5m (122.5m - 171.0m) wide broad zone of variable radioactivity from moderate-to-strong separated by narrow intervals of barren rock (0.5m - 2.0m wide) including:
    • 39.0m wide interval (128.0m - 167.0m) of well-developed mineralization including:
    • 13.41m total composite off-scale (>9999 cps) radioactivity in several discrete intervals including:
    • 7.6m of continuous off-scale (>9999 cps) radioactivity.
  • Several narrower intervals of mineralized anomalous radioactivity from 201.5m - 318.5m, including:
    • 11.5m wide interval (236.0m - 247.5m) of moderate to locally strong radioactivity, including:
    • 0.3m of off-scale (>9999 cps) radioactivity.
  • Extends the width of the R780E zone to approximately 45m on line 780E.

R780E Zone:

The R780E zone discovery was the result of follow-up by drilling of a radon in water anomaly identified during the January - February 2013 survey conducted by RadonEx Exploration Management. The radon anomaly is on trend to the E-NE from the R00E and R390E zones, and is situated within a resistivity low corridor proximal to an inferred north-south cross cutting structure.

Hole PLS13-080 (line 780E) was collared as a vertical hole and completed to a depth of 347.0m. The hole is the 4th hole drilled in the R780E zone and is collared approximately 10m grid south of PLS13-060 (which intersected multiple zones of basement mineralization including 7.0m @ 1.22% U3O8 (see news release June 5, 2013). The drill-hole is located south of the PL-3B EM conductor axis, which differs from mineralization at the R00E and R390E zones which is found north of the surface projection of the PL-3B conductor. Multiple zones of mineralization were intersected in the basement lithology between 122.5m - 318.5m, ranging in width from 0.5m to 54.5m. The main interval of mineralization is over a width of 48.5m (122.5m - 171.0m) which is characterized by variably weak to strong radioactivity throughout, with occasional narrow intervals (0.5m - 2.0m wide) of barren rock. A total composite of 13.41m of "off-scale" (>9999 cps) radioactivity is present in several discrete intervals ranging in width from 0.1m to 7.6m. A lower zone of weak to strongly radioactive mineralization is present over 11.5m width (236.0m - 247.5m), including a 0.3m interval of "off-scale" radioactivity. With mineralization present down to 318.5m, this represents the deepest mineralization intersected to date on the PLS property. The top of the basement rocks were encountered at 54.0m depth. From 54.0m - 198.2m the rocks consist primarily of clay, hematite, and chlorite altered and steep to moderately dipping foliated quartzitic and pelitic gneisses. From 198.2m - 347.0m the rocks comprise an alternating sequence of quartzitic gneiss, pelitic gneiss and granofel, and mylonite with weak to moderate clay and chlorite alteration. Uranium mineralization occurs as flecks, blebs, clots, veins, semi-massive and massive pitchblende, and worm rock style.

R780E
Collar * Hand-held Scintillometer Results
On Mineralized Drillcore
(>300 cps / >0.5M minimum)
Hole ID Grid Line Az Dip From
(m)
To
(m)
Width
(m)
CPS
Peak
Range
Devonian
Sandstone
From - To
(m)
Basement
Unconformity
Depth
(m)
Total
Drillhole
Depth
(m)
PLS13-080 780E 344 -89 122.5 171.0 48.5 <300 - >9999 N / A 54.0 347.0
173.5 177.0 3.5 <300 - 2000
201.5 202.0 0.5 2800
230.5 231.0 0.5 1400
236.0 247.5 11.5 <300 - >9999
290.0 294.5 4.5 <300 - 1000
298.0 301.0 3.0 <300 - 5400
318.0 318.5 0.5 400
* Scintillometer Instrument: GR-110G

A $6.95M, 44 hole, 11,000m drill program and ground geophysics surveys continues at PLS.

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. 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 is yet to be determined.

Radiometric surveys are planned for all holes using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones.

Split core samples from the mineralized section of core will be taken 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 ICP-MS and boron. Assay results will be released when received.

For additional comments about the Summer 2013 Program, please watch a corporate video at the Alpha Minerals website: http://www.alphaminerals.ca

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 Uranium (FCU). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Alpha returns as the Operator of the Joint Venture in 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs 74km north to the former Cluff Lake mine, (>60M lbs of U3O8 produced from multiple open pit and underground mines), and passes through the claims covering the UEX-Areva Shea Creek discoveries located 58km to the north, currently under active exploration and development.

Updated maps for the R780E zone can be found on the Company's website at http://www.alphaminerals.ca/projects-mainmenu-6/gold-projects-mainmenu-30/patterson-lake-south

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 the video and further updated information.

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.

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.

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