Alpha Minerals Inc.

TSX VENTURE : AMW


Alpha Minerals Inc.

May 06, 2013 07:30 ET

Radon Survey Confirms 11 Discrete Radon Anomalies at Patterson Lake South, Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2013) - Alpha Minerals Inc. ("Alpha" or "the Company") (TSX VENTURE:AMW), and its Joint Venture partner Fission Uranium Corp. (Formerly Fission Energy Corp.) are pleased to announce results from an extension of the previous radon survey by Radonex Ltd. at the Patterson Lake South Property, Athabasca Basin. Highlights include:

  • 240m long radon anomaly associated with the R390E zone.
  • 6 new radon anomalies, in addition to the 5 anomalies identified during the initial survey, all associated with known conductors and cross cutting structures.
  • The eastern-most radon anomaly located some 1,500 metres east-northeast along strike of the R780E zone has been confirmed, refined and extended.
  • The radon survey appears to have successfully detected uranium sources at greater than 50 meters depth that justify further drill testing.

The upcoming summer drill program will focus on delineation of the three uranium zones discovered to date at Patterson Lake South (Zones R00E, R390E and R780E), and also start testing the highest priority radon anomalies from this survey.

An updated radon map with location of anomalies is available at the bottom of this news release and on the Company's website at www.alphaminerals.ca. A description of use of radon in uranium exploration is also available on the company's website.

Radon surveying of bottom waters and lake sediment at Patterson Lake was initiated at the beginning of the recent 2013 winter drill program. This news release covers new data collected in April, following drilling, which extends the original survey along the Patterson Lake Conductor Corridor. The original survey provided the drill targets for high grade discovery holes at the R390E and R780E uranium zones discovered this past winter.

Planning is underway for the 2013 summer drill program at Patterson Lake South. The Joint Venture has been granted an extension of the previous winter drilling permit. Drilling from barges on the lake is planned, and permits are in progress. Radon surveys will be continued next winter to both refine current anomalies and extend beyond current survey coverage to explore for new anomalies.

Summary of Radon Anomalies

A total of 11 targets include 7 along the southern conductor in the Patterson Lake conductor corridor have been identified.

The R390E zone is located within a large radon anomaly from Line 360E to 600E that trends along the PL-3B Conductor. The R780E zone is associated with a single point radon anomaly along the PL-3B Conductor. Three additional radon anomalies exist along the PL-3B Conductor on Lines 950E (highest radon value to date), 1080E, and 1160E, which have yet to be drill tested.

One target lies between the strike of the South Conductor and the Central conductor. This is a central area crossed by Line 1320E where the trace of the South Conductor has been interrupted and the trace of the Central Conductor is showing a strong flexure, which is interpreted as a possible north-south cross structure.

One target lies on the south side of the trace of the Northern Conductor, close to Line 1440E.

Two targets are indicated on the Central Conductor, with one located near Line 960E due north of the zone R780E and the other target shows patchy radon anomalies in the area of Line 1920E.

In the farthest east area of the South Conductor, there are two targets close to two drill holes that were selected based on geophysical data, which intersected bleaching and clay alteration. This is a priority area for follow-up drilling this summer.

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. Fission is the Operator of the Joint Venture 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 from multiple open pit and underground mines), and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.

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.

To view the figure associated with this press release, please visit the following link: http://media3.marketwire.com/docs/alph05061.pdf

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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