Alphamin Resources Corp.
TSX VENTURE : AFM

Alphamin Resources Corp.

September 29, 2016 09:24 ET

Alphamin Bisie DRC Managing Director Returned to Goma After Providing Clarity in Misunderstanding With DRC Government

GOMA, DEMOCRATIC REPUBLIC OF CONGO--(Marketwired - Sept. 29, 2016) - Alphamin Resources Corp. (TSX VENTURE:AFM) ("Alphamin" or the "Company") reports that Richard Robinson, the Managing Director of its Democratic Republic of Congo ("DRC") subsidiary, Alphamin Bisie Mining ("ABM"), has returned to Goma after an exchange of information with a special mining sector fraud investigation commission in Kinshasa which has clarified a misunderstanding over sample exports of tin as part of the development of Alphamin's Bisie Tin Project and confirmed a common commitment to transparency and ending illegal artisanal mining on its concession.

"In a session of exchange on 26 September between the commission and ABM, Robinson responded to questions on the amount and process used by ABM to legally export samples between 2012 and 2016. ABM agreed to provide further technical information as requested. ABM was represented in the session by Robinson, the ABM attorney and the United States Consul," states Boris Kamstra, CEO of Alphamin Resources Corp.

"AMB also clarified that no artisanal mining activities are taking place at Mpama North but that at Mpama South illegal artisanal mining indeed continues on its concession beyond its control. Robinson confirmed to the commission that Alphamin Resources Corp and its local company ABM share the DRC Government's commitment to peacefully bring an end to illegal mining; consistent with the 2010 agreement with three artisanal cooperatives that was witnessed by the national Mines Ministry," explains Kamstra.

"In terms of the signed agreement, the cooperatives undertook to leave the entire concession when ABM received its exploitation permit. ABM received its permit in 2015. The artisanal miners left Mpama North after the signing of the agreement, as yet have not withdrawn from Mpama South. Alphamin shared information with the commission on this illegal activity, which the commission welcomed. Alphamin and the commission expressed their common interest in the industrial development of the Bisie Tin Project - with transparency, compliance with conflict-free minerals guidelines and respect for human rights," concludes Kamstra.

On 18 September Robinson had been requested to assist the commission in Kinshasa. During his stay in Kinshasa since this date, he was able to work and circulate freely there while waiting for the commission to schedule the exchange.

EDITORS NOTES:

Issued on behalf of the Board of Directors of Alphamin Resources Corporation by

Boris Kamstra, Chief Executive Officer
Tel: +230 269 4166
Grand Baie, Mauritius

MORE INFORMATION ON ALPHAMIN RESOURCES CORPORATION:

Alphamin is a pioneering tin exploration and mining business with the vision to be respected in the international tin mining sector, unleashing the full profit and potential of its world-class tin asset in North Kivu, DRC. Alphamin's future expansion is expected to be internally funded with operational cash flows. Alphamin is expected to deliver a significant return to investors through the full range of expected tin prices.

Alphamin has the vision to become a premier tin producer:

  • Leading a world-class, profitable mining company in North Kivu, delivering results for the benefit of all stakeholders and viewed with respect by the communities and Government.
  • Alphamin committed, from the date of production, to spend 4% of its in-country operating and administrative expenses on community development. This investment will be governed with representative input from local communities and managed by the Lowa Alliance, a GDRC-regulated not-for-profit foundation. Alphamin will continue to preserve its legal rights to develop Bisie and explore ways to assist artisanal miners to transition from illegal status to legal, conflict-free sites elsewhere in the region.
  • The projects, supported by the foundation, will be selected following an in-depth survey of the 13 500 households (approximately 80 000 residents) across the 44 communities closest to Bisie. Representative committees will prioritise a range of projects to promote social and economic development to which they, local authorities and potentially external donors, will also contribute. Anticipated projects could include alternative livelihoods, specifically oil palm, cocoa and coffee cultivation. These would provide incentives for incomes beyond illegal artisanal mining. It would also provide educational and health infrastructure and services, like potable water, malaria reduction and treatment and primary health care capacity building.
  • Alphamin Bisie Mine will deliver on the commitment to develop a first and large, commercial tin mine in that part of the country, giving Alphamin credibility locally and aboard - becoming a business transformation reference in the tin mining industry.
  • Alphamin will be a profitable tin producer, while continuing with exploration to increase life of mine. ABM will operate a profitable tin mine operating in a safe environment and uplifting the local community. Developing the first, low-cost per tonne tin, commercial mine in North Kivu, while making a marked, positive impact on the communities surrounding the mine. Tin mining company that excels at the production of tin and providing leadership for the region in terms of safety, health, environment and community development.
  • Alphamin is a low-cost tin producer creating value for both shareholders and the community.

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