Alpha Exploration Announces Results from Maiden Drilling at Tolegimja Copper-Zinc-Gold VMS Discovery

Calgary, June 6, 2022 - Alpha Exploration Ltd. (TSXV: ALEX) ("Alpha" or the "Company") is pleased to announce assay results from the first drill program at its Tolegimja volcanogenic-massive-sulphide ('VMS") discovery. Tolegimja is one of seventeen prospects on Alpha's 100% owned Kerkasha Project in Eritrea. The drill program of this prospect comprised nine reverse-circulation (RC) drill holes for a total of 1,862m and was completed in February this year. All assay results have now been received.

Highlights

• Drill hole TLR-009 intersected 26 meters of massive and semi massive sulphide mineralization averaging 0.11 g/t gold, 0.38% copper and 1.67% zinc.
• Drill hole TLR-003 intersected 18 meters of massive and semi massive sulphide mineralization averaging 0.16 g/t gold, 0.34% copper and 0.99% zinc.

Table 1: Summary of Best Intervals from Tolegimja Drill Holes TLR-001 to TLR-009

Note: At this early stage of exploration the true width of the mineralization is uncertain, but it is estimated to be 70 to 80% of reported intervals. Averages for intervals are calculated with a start value of equal or greater than 1,000 ppm Cu or equal or greater than 3,000 ppm zinc, all gold values included in interval regardless of value. A minimum thickness for an interval is equal to or greater than 2m with maximum internal dilution of equal to or less than 2m.

Michael Hopley, Alpha President & CEO said, "To intersect massive-and semi-massive sulphide mineralisation up to 26 meters wide in 2 separate drill holes in the first 9 drill holes at the Tolegimja Prospect is very encouraging. Now that we have confirmed the presence of VMS-style mineralization obviously, more drilling is warranted over this 2.7 km long prospect in the near future."

Tolegimja VMS Prospect

The Tolegimja prospect is a virgin discovery by Alpha geologists in the northeast of the Kerkasha Project approximately 50km south-southeast of the highly successful Bisha VMS copper-zinc-gold mine and was made during an initial property-wide soil geochemical survey. Prospect scale rock-chip, soil sampling and detailed geological mapping indicate the prospect is a bimodal-mafic copper-zinc-gold VMS occurrence with high copper values at the surface located over the contact between felsic and mafic rocks.

A limited initial drill program of 9 reverse-circulation drill holes (TLR001 to TLR009) was completed at Tolegimja in February this year for a total of 1,862 meters- see Map 1. Massive and semi-massive sulphide mineralization was intersected in holes TLR-003 and TLR009.

An Induced Polarization (IP)-Resistivity geophysical survey completed in Q3 2021, identified a strong chargeability anomaly over a 2km strike length immediately beside and beneath anomalous copper-zinc values at surface and directly beneath a mapped rhyolite unit. Rhyolite is considered a prime host for bimodal-mafic copper-zinc-gold VMS mineralization in the Arabian-Nubian shield. The drill campaign only tested a small part of the chargeability anomaly, the surface copper and zinc values and the rhyolite with 2 shallow RC drill holes (TRL-001 and TRL-002) - see Map 1. These holes were only drilled to a maximum of about 125 m beneath the surface, not deep enough to fully test the chargeability anomaly that commences at around 55m depth and continues to well below 300m, the depth extent of the survey. A more complete drill campaign to depth over this 2km trend is warranted.

The drill holes TLR003 and TLR009 that intersected massive and semi massive mineralisation, were drilled 500m and 650m to the northeast of the 2km long chargeability/rhyolite/surface copper-zinc anomalies mentioned above and designed to test a gossanous outcrop extending over 100m x 100m with an associated chargeability anomaly. This indicates there could be VMS mineralisation along this whole 2.7km trend.

Further drilling at Tolegimja is planned soon.

Map 1

Tolegimja Geological Map with Drill Holes and IP Chargeability Anomaly

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Tolegimja VMS Prospect Cross-Section B-B¹

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Notes

Sampling, Sub-sampling and Analysis

Geological consultants from RSC were responsible for the design of a strict QA/QC program consistent with industry best practice.

Drilling was by reverse circulation. Samples were split at the rig using a Metzke splitter, before being transported to a secure location for logging.

All samples were submitted to Nabro Laboratories Limited (Nabro), Asmara, Eritrea, for sample preparation. Samples were crushed (to 90% passing 2.8 mm) and pulverised (to 85% passing 75 µm). Two scoop samples were taken from the pulveriser bowl: approximately 120 g for laboratory analysis and approximately 100 g for portable X-ray fluorescence (pXRF) analysis. The coarse and pulp rejects were stored at a warehouse in Asmara. The Company inserted certified reference material from OREAS (www.ore.com.au) into the sample stream, while Nabro inserted barren granodiorite material into the sample stream as a blank.

Drill samples were shipped to ALS Geochemistry (ALS), Loughrea, Ireland, for analysis. ALS analyzed all drill samples for gold by method Au-AA26 (50 g charge fire assay, AAS finish) and a multi-element suite by method ME-MS61 (Multi-element Ultra Trace method combining a four-acid digestion with ICP-MS instrumentation).

ALS is independent of the Company and its quality management systems framework is accredited to ISO/IEC 17025:2005 or certified to ISO 9001:2015 standards.

Table 2: Tolegimja Drill Collar Data

About Alpha

Alpha is an exploration company listed on the TSX-V exchange under the symbol ALEX that has made 3 important discoveries in the past 2 years at it's 100% owned Kerkasha Project in Eritrea:

• Porphyry Copper-Gold: Anagulu Prospect
• Volcanogenic-Massive-Sulphide (VMS): Tolegimja Prospect.
• Orogenic Gold: Aburna Prospect

The company is managed by a group of highly experienced and successful professionals with many years of experience carrying out exploration and resource development programs in Eritrea and Sudan and is focused on the discovery of world class economic gold and base metals deposits in the highly prospective Arabian-Nubian shield, on either side of the Red Sea. Alpha currently holds a 100% interest in the large (771 km²) Kerkasha Exploration License in southwest Eritrea, located 135 km west-southwest of the capital city of Asmara. Since acquiring the property in January 2018, the company has spent approximately CAD$13 million on exploration and identified 17 prospects of which six have been drilled to date.

For further information go to the Alpha webpage at www.alpha-exploration.com or contact:

Michael Hopley
President and Chief Executive Officer
Alpha Exploration Ltd.
Email: mhopley@alpha-exploration.com
Tel: +44 207129 1148

Qualified Person

All scientific and technical information in this press release, including the results of the Aburna drill program and how these results relate to the ongoing exploration at the Kerkasha Project has been reviewed, verified, and approved by Michael Hopley, President, Chief Executive Officer of Alpha and a "qualified person" for the purposes of national Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Cautionary Notes

This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

Forward‐Looking Statements

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: future dataset interpretations, sampling, plans for its projects (including the Anagulu Prospect), surveys related to Alpha's assets, and the Company's drilling program. Often, but not always, forward-looking statements or information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions including among other things, assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.

Although management of Alpha believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to Alpha's financing efforts; risks associated with the business of Alpha given its limited operating history; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to exploration activities; those factors discussed under the heading "Risk Factors" in the Final Prospectus; and other risk factors as detailed from time to time. Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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