Alpha Minerals Inc.

TSX VENTURE : AMW
FRANKFURT : E2GA


Alpha Minerals Inc.

August 22, 2013 06:30 ET

Alpha Minerals JV Hits 47m Mineralization Including 5.27m Total Composite "Off-Scale" to Expand R390e Zone at Patterson Lake South, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 22, 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 an additional five holes drilled on the R390E Zone. Since the winter 2013 drill program the R390E zone has doubled in strike length to 120m. The reported drill holes in this news release are highlighted by PLS13-086, which intersected a 47.0m wide mineralized zone, including a total of 5.27m composite "off-scale", it appears more robust than hole PLS13-061 drilled 10m to the north on line 360E and is further evidence of the high-grade potential of the zone.

Several holes are reported in this news release that have no Devonian Sandstone intersections. This makes the R390E Zone a potential candidate area for one of the bedrock sources of the large uranium boulder field. Of additional note is hole PLS13-083, a 15m step out hole to the west of hole PLS13-075, which reported 61.5m total composite mineralization in several intervals over a width of 105.5m (53.0m to 158.5m).

Holes PLS13-078, PLS13-081, PLS13-083, PLS13-085 and PLS13-086 tested lines 435E, 405E, 315E, 330E and 360E of the R390E zone respectively and all intersected relatively wide zones of mineralization of varying degrees of radioactivity.

Drilling Highlights include:

  • Extend strike length of R390E zone to 120m

  • PLS13-086 (line 350E) intersected 47m of mineralization (75.0m - 122.0m), including:
    • 5.27m total composite off-scale (>9999 cps), including:
    • 3.0m of continuous off-scale (>9999 cps) (101.0m - 104.0m)

  • PLS13-083 (line 315E) intersected 61.5m total composite of variably radioactive mineralization over a 105.5m wide interval (53.0m - 158.5m). Clay alteration from 53 m to 192. Includes some poor core recovery where the hand held scintillometer results are moderate and the down hole gamma probe results show strongly anomalous values over a 1.0 m interval from 80.0m - 81.0m within an interval from 80.0m - 83.0m where core recovery was estimated at 48.7%.

  • PLS13-078 (line 435E) intersected 42.0m total composite of variably radioactive mineralization over a 60.5m wide interval (75.0m to 135.5m)
    • Upper Zone: 31.5m mineralization (85.0m - 166.5m), including:
    • 1.25m total composite off-scale (>9999 cps) (97.0m - 98.0m)
    • Lower Zone: 10.0m mineralization (125.5m - 135.5m)

  • PLS13-085 (line 330E) intersected 36.0m total composite of variably radioactive mineralization in several intervals over a 55.5m wide interval (58.5m - 114.0m), including:
    • 22.5m of variably radioactive mineralization (82.0m - 104.5m), including:
    • 2.16m total composite off-scale (>9999 cps) (85.5m to 87.81m)

  • PLS13-081 (line 405E) intersected 25.5m of variably radioactive mineralization (105.0m - 130.5m)

R390E Zone:

Line 315E: Drill hole PLS13-083 was collared as a vertical hole. The collar is located approximately 15m grid west from hole PLS13-075 (see news release July 29, 2013). Weakly anomalous radioactivity starts immediately in the basement rocks at 53.0m increasing in intensity below 55.0m. Several variably moderate to strong radioactive mineralized intervals ranging in width from 0.5m to 17.5m wide were intersected over a 105.5m span from 53.0m to 158.5m. Occasional narrow intervals of off-scale (>9999 cps) radioactivity were intersected raging in widths from 0.1m to 0.35m wide each. Overburden continued to 53.0m and no Devonian sandstone was observed. From 53.0m to 178.1m, bedrock consists of alternating pelitic and quartz-feldspar gneiss. A diabase dyke is present from 178.1m to 186.0m and semipelitic gneiss from 186.0m to the end of hole depth of 278.0m. Moderate clay alteration is present from 53.0m to 192.0m. Downhole triple gamma probe results show that a 1.0m wide interval (80.0m - 81.0m) of strongly anomalous gamma counts (16,981 cps - 52,841 cps) was intersected downhole but corresponding hand scintillometer results from this interval are weak at 330cps - 760 cps. This discrepancy is explained due to poor recovery (48.7% recovery) in this moderately clay altered interval from 80.0m - 83.0m.

Line 330E: Drill hole PLS13-085 was collared as a vertical hole. The collar is located approximately 10m grid north of PLS13-075. Several variably radioactive mineralized intervals ranging in width from 2.5m to 22.5m wide were intersected over a 55.5m span from 58.5m to 114.0m. The main zone of mineralization occurs over a 22.5m wide interval (82.0m - 104.5m) and is characterized by variably moderate to strong radioactivity including a total composite of 2.16m of off-scale (>9999 cps) radioactivity. Bedrock was encountered at 57.0m and comprised pelitic gneiss from 57.0m to 140.0m transitioning to dominantly semipelitic gneiss from 140.0m to the end of hole depth of 224.0m.

Line 360E: Drill hole PLS13-086 was collared as a vertical hole. The collar is located approximately 10m grid south of PLS13-061 (23.5m with 1.39% U3O8, see News Release June 03, 2013). A 47.0m wide mineralized interval of variably weak to strong radioactivity was intersected (75.0m - 122.0m). A total composite of 5.27m of off-scale (>9999 cps) radioactivity was intersected in several intervals from 0.14m to 3.0m wide. Bedrock was encountered at 50.0m and is comprised of a quartzitic gneiss to 74.5m and alternating pelitic gneiss and undifferentiated mylonites to 207.7m. From 207.7m to the end of hole depth of 263.0m a semipelitic gneiss was encountered. Moderate to strong clay alteration is present from 50.0m to 208.7m with localized occurrences of sulphide (pyrite?).

Line 405E: Drill hole PLS13-081 was collared as a vertical hole. The collar is located approximately 10m grid north of PLS13-064 (10.5m with 0.43% U3O8, see news release June 03, 2013). A 25.5m wide mineralized interval (105.0m to 130.5m) of variably weak to moderate radioactivity was intersected. The hole deviated to the south with the net result being the mineralized zone is within a few meters of the same zone intersected in PLS13-064. A thin layer of Devonian sandstone was intersected from 49.5m to 51.5m. Basement rocks consist primarily of semipelitic gneiss throughout. A 5.0m wide Diabase dyke was intersected from 58.4m to 63.4m.

Line 435E: Drill hole PLS13-078 was collared as a vertical hole. The collar is located approximately 10m grid north of PLS13-073 (see news release Jul 29, 2013). A total mineralized composite of 42.5m of moderate to locally strong radioactivity over two main intervals over a 50.5m span was encountered in 3 intervals (85.0m - 135.5m) ranging from 0.5m to 31.5m wide. A 31.5m interval of mineralization is characterized by moderate to strong radioactivity including a total composite of 1.25m of off-scale (>9999 cps) radioactivity. The mineralization on PLS13-078 appears to be up-dip by about 17m from hole PLS13-073. Devonian sandstone was intersected from 50.0m to 53.5m. Basement rocks consist of an alternating pelitic gneiss and undifferentiated mylonite sequence from 53.5m to 120.5m, transitioning to a semipelitic gneiss below 120.5m to the end of hole depth at 224.0m. Moderately pervasive clay alteration is present from 53.5m to 142.0m.

R390E
Collar * Hand-held Scintillometer Results
On Mineralized Drillcore
(>300 cps / >0.5M minimum)
Devonian
Sandstone
Basement
Unconformity
Total
Drillhole
Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Width
(m)
CPS Peak
Range
From -
To (m)
Depth
(m)
Depth
(m)
PLS13-078 435E 222 -84 85.0 116.5 31.5 <300 - >9999 50.0 - 53.5 53.5 224.0
122.0 122.5 0.5 320
125.5 135.5 10.0 <300 - 5900
PLS13-081 405E 142 -84 105.0 130.5 25.5 <300 - 7300 49.5 - 51.5 51.5 230.0
PLS13-083 315E 84 -88 53.0 70.5 17.5 <300 - >9999 No Sandstone 53.0 278.0
73.5 74.0 0.5 560
77.0 82.5 5.5 <300 - 760
91.0 92.5 1.5 1800 - 6300
105.5 108.0 2.5 300 - 1900
110.5 114.0 3.5 400 - 8400
120.5 127.0 6.5 <300 - 7700
129.0 145.5 16.5 <300 - >9999
151.0 158.5 7.5 <300 - >9999
PLS13-085 330E 0 -90 58.5 64.0 5.5 <300 - 2800 No Sandstone 57.0 224.0
67.5 70.0 2.5 380 - 650
82.0 104.5 22.5 <300 - >9999
109.0 114.0 5.0 410 - 1200
178.0 178.5 0.5 580
PLS13-086 360E 283 -86 75.0 122.0 47.0 <300 - >9999 No Sandstone 50.0 263.0
99.0 121.5 22.5 530 - >9999
151.5 154.0 2.5 <300 - 770
173.5 174.5 1.0 390 - 640
178.0 178.5 0.5 350
* 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 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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