Alphamin Resources Corp. (TSX-V:AFM) (JSE AltX:APH) a producer of 4% of the world’s mined tin from its high-grade operation in the Democratic Republic of Congo, is pleased to provide additional assay results on its Mpama South Exploration Drilling programme.

HIGHLIGHTS

• Further high-grade intercepts¹ from the Main Zone:-
  • BGH033: 6.4 metres @ 7.32% Sn from 259.0 metres
  • BGH035: 13.0 metres @ 2.96% Sn (incl. 5.3 metres @ 6.4% Sn) from 152.0 metres
  • BGH039: 21.0 metres @ 2.20% Sn (incl. 8.0 metres @ 4.26% Sn) from 145.0 metres
  • BGH045: 6.9 metres @ 3.24% Sn from 176.7 metres
• Further high-grade intercepts¹ from the newly discovered footwall zone:-
  • BGH037: 3.0 metres @ 3.81% Sn from 154.0 metres
  • BGH038: 2.9 metres @ 5.22% Sn from 151.7 metres
  • BGH045: 1.1 metres @ 31.55% Sn from 120.7 metres

• 10,000m of the planned 16,800m Diamond Drill programme completed (46 of the 70-hole programme) with independent laboratory assays received for 29 holes to date;
• Phase 3 drilling (~6,800m and 24 holes) commenced to test downdip and strike extension of the interpreted high-grade shoot

Chief Executive Officer, Maritz Smith comments:

“The Mpama South Prospect continues to deliver exceptional tin intercepts. Based on the first two batches of drill results, the continued presence and orientation of high-grade samples point to the potential for yet another high-grade deposit, some 750m south of our current operation. With the recent commencement of the deeper drilling phase at Mpama South, we believe we are heading into even more exciting times”.

Mpama South Exploration Drilling Update

Mpama South is a high-grade tin discovery, located 750m south of Alphamin’s operating Bisie mine. A small diamond drilling programme of sixteen drillholes completed in 2016 recorded notable cassiterite intercepts in similar alteration styles to the Mpama North mine. Alphamin re-commenced its Mpama South diamond drilling exploration activities in December 2020 and completed the first two phases of drilling by the end of May for a total of 10,000 metres and forty-six (46) drillholes. Phase 3 for 6,800 metres and twenty-four (24) holes has already commenced for expected completion in August 2021. All three phases for ~16,800 metres are intended to form the basis of a Mineral Resource estimation exercise, the results of which are expected to be announced by the end of 2021. Infill drilling and further step-out drilling will continue from August for the remainder of 2021.

Selected significant intercepts¹ from the new batch of assays received in the Main Zone from the Mpama South drilling program are listed below as apparent widths. Sample preparation is detailed in Appendix 1 and all intercepts >0.5% Sn are detailed in Appendix 2:-

• BGH033: 6.4 metres @ 7.32% Sn from 259.0 metres
• BGH035: 13.0 metres @ 2.96% Sn (incl. 5.3 metres @ 6.4% Sn) from 152.0 metres
• BGH039: 21.0 metres @ 2.20% Sn (incl. 8.0 metres @ 4.26% Sn) from 145.0 metres
• BGH045: 6.9 metres @ 3.24% Sn from 176.7 metres

While significant new intercepts in the newly discovered footwall zone are as follows:-

• BGH037: 3.0 metres @ 3.81% Sn from 154.0 metres
• BGH038: 2.9 metres @ 5.22% Sn from 151.7 metres
• BGH045: 1.1 metres @ 31.55% Sn from 120.7 metres

The above intercepts together with the previously announced batch of significant intercepts repeated below¹, point to a potential high-grade deposit at Mpama South:

Main Zone:

• BGH030: 10.6 metres @ 4.85% Sn from 141.9 metres
• BGH032: 20.0 metres @ 2.07% Sn from 185.0 metres
• BGH025: 14.6 metres @ 2.70% Sn from 220.10 metres

Footwall Zone:

• BGH034 3.2 metres @ 11.99% Sn from 174.8 metres
• BGH022: 5.5 metres @ 3.99% Sn from 75.0 metres
• BGH030: 1.4 metres @ 7.24% Sn from 110.0 metres

_______________________

¹ All intercepts are reported as apparent widths and are not true widths

Although only shallowly drilled to date, tell-tale signs already lead management to believe that the potential for a high grade shoot exists at Mpama South (Figure 1), possibly similar to that at the adjacent producing Mpama North mine.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Figure 1: Mpama South Long section and Interpreted High-grade Shoot

Source: Alphamin 2021

Qualified Person

Mr Jeremy Witley, Pr. Sci. Nat., B.Sc. (Hons.) Mining Geology, M.Sc. (Eng.), is a qualified person (QP) as defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this news release. He is a Principal Mineral Resource Consultant of The MSA Group (Pty.) Ltd., an independent technical consultant to the Company.

COMPLETE SIGNIFICANT INTERCEPTS (0.5% Sn lower threshold)

1. Apparent widths, not true thickness