Slide 1: Making Gold & Copper Discoveries in the Arabian-Nubian Shield
RC drilling (Hole TLR003) intercepting massive sulphides at Tolegimja Making Gold & Copper Prospect February 2022 Discoveries in the Arabian-Nubian Shield TSX.V Symbol ‘ALEX’ Aburna Colonial Gold Mine Area Alpha Exploration Limited May 2022 Presentation ALPHA-EXPLORATION.COM
Slide 2: Disclaimer Notice - Qualified Persons Statement - Confidentiality
Disclaimer Notice - Qualified Persons Statement - Confidentiality Disclaimer Notice This presentation of Alpha Exploration Limited (“ALEX”) is for information only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell or issue, or subscr
Slide 3: Alpha Exploration Key Highlights
Alpha Exploration Key Highlights MISSION STATEMENT Exploring for Copper, Gold and Zinc in the highly prospective Arabian-Nubian shield of NE Africa & Saudi Arabia THREE SIGNIFICANT DISCOVERIES IN 2 YEARS Anagulu (porphyry copper-gold), Aburna (orogenic gold) and Tolegimja (VMS) ALPHA HOLDS AN
Slide 4: Alpha Share Structure, Financing & Listing – 'ALEX' on TSX-V
Alpha Share Structure, Financing & Listing – ‘ALEX’ on TSX-V ALPHA TSX-V LISTED ON NOVEMBER 1, 2021. TICKER: ALEX Share Structure as at May 1, 2022 Shares Outstanding 71,081,678 • Ordinary Shares 55,795,519 • Preference Shares 15,286,159 Management Ownership 14.6% Founder’s Performance Warrants 6,86
Slide 5: Alpha Team - Board of Directors
Alpha Team - Board of Directors Michael Hopley - President & CEO BSc (Geology), London University, Member of American Institute of Professional Geologists: • More than 40 years of international experience, has held Executive & Board positions with companies such as Gold Fields Mining, Bema Gold Corp
Slide 6: Alpha Team – Advisors & Management
Alpha Team – Advisors & Management Ashwath Mehra- Advisor BSc (Econ), in Economics and Philosophy from the London School of Economics: • Mr. Mehra is a seasoned executive with 35 years of global experience in the minerals industry and is an economist by training. • He is the CEO of the ASTOR Group,
Slide 7: Arabian-Nubian Shield ('Last Frontier') with Tier 1 deposits
Arabian-Nubian Shield (‘Last Frontier’) with Tier 1 deposits Canadian & Australian Shields >100 years of aggressive exploration, many mines discovered. The Arabian-Nubian Shield Larger than Australian Shield, minimal exploration over last Orca Gold Mine 100 years, few mines discovered. Orca Gold
Slide 8: Kerkasha License in Eritrea
Kerkasha License in Eritrea Colonial Gold Mines (red starts), Artisanal Mines (blue stars), Alpha discoveries (black crosses) at Alpha’s Kerkasha Project Alpha Exploration Thani-Ashanti o Work Programmes (1 March 2018 – 31 March 2022) o Work Programmes (March 2010 – March 2013) 8 o Expenditure +
Slide 9: Anagulu – Porphyry Au-Cu Discovery
Anagulu –Porphyry Au-Cu Discovery Gold & Copper “It is confirmed that Anagulu is 100m x 100m soils undoubtedly a porphyry gold-copper with system centred on a distinctive, dyke-like porphyry intrusion”. significant rock chip for gold (>1g/t red) Dr Richard Sillitoe report on Anagulu - Nov 2021). &
Slide 10: Anagulu – Discovery Hole (AND001)
Anagulu – Discovery Hole (AND001) Assay Results for AND001 (80-129m) From Au Cu Ag Hole To (m) (m) (ppm) (%) (ppm) 80 81 1.92 0.70% 2.62 81 82 2.91 1.23% 4.88 82 83 0.91 0.78% 3.99 83 84 1.68 0.79% 4.43 84 85 1.63 0.62% 3.20 85 86 4.29 0.99% 4.87 86 87 1.60 1.11% 6.11 87 88 1.19 0.84% 3.42 88 89 1.6
Slide 11: Anagulu Northeast – Sections 38, 40, 42 (Local Grid)
Anagulu Northeast – Sections 38, 40, 42 (Local Grid) Section 38 Section 40 Section 42 Anagulu Best Intervals for Au-Cu-Ag + Au & Cu Equivalents DRILL PROGRAMMES Significant intervals of higher grade gold-copper mineralisation (>0.8 g/t AuEq) occur over a strike of ~ 400m in the northeast of the pr
Slide 12: Anagulu – IP, Drilling, Soil Geochemistry
Anagulu – IP, Drilling, Drill location plan with: Soil Geochemistry - Drill collar position of significant intercepts (red dots) - Zone of best drill results to date (yellow ellipsoid) Alpha has focused drilling to date on three (3) sections (38, 40 & 42 local grid) as shown in the - Chargeability
Slide 13: Anagulu – Geology & trenching
Anagulu – Geology & trenching Alpha has completed a trenching programme comprising ~50 trenches in the southwest of the Prospect Trenching focused on the quartz diorite outcrops that were identified by Dr Richard Sillitoe as the host rock for significant Cu and Au mineralisation. The trenches
Slide 14: Aburna Orogenic Gold Discovery – Soil Sampling
Aburna Orogenic Gold Discovery – Soil Sampling MACHINE LEARNING 100m x 100m soil sample assays for Gold (>0.025ppm) Italian Colonial Mine located in the southwest of the Prospect. 100m x 100m soil sampling programme shows anomalous gold over 4x2kms. Some of the ‘gold in soil’ anomalies remain
Slide 15: Aburna – Rock Chip Sampling
Aburna – Rock Chip Sampling 4 x 2 km area In November and December 2020, Alpha Geologists took 352 grab samples. Of these samples: o Three (3) samples had values of over 100 g/t gold. o Seven (7) samples had values over 10 g/t gold. o Thirty-seven (37) had gold values over 1 g/t gold. 37.1 The
Slide 16: Aburna – Trench-Channel Sampling
Aburna – Trench-Channel Sampling 45m @ 3.75 g/t gold (Trench 22 – Hill 52 Area) 11m @ 6.55 g/t gold (Trench 25 – Hill 52 Area) 51m @ 2.14 g/t gold (Channel 51 - Hill 52 Area) 8m @ 9.65 g/t gold (Channel 52 - Hill 52 Area) 3m @ 17.31 g/t gold (Trench 41 – Aburna Central Area) 1m @ 244.00
Slide 17: Aburna - First Pass Drill Programme
Aburna - First Pass Drill Programme ABURNA DRILL PROGRAMME RESULTS MACHINE LEARNING Hole Number From (m) To (m) Interval (m)* Au (g/t) Area ABURNA DISCOVERY HOLES ABR-001 2 16 14 0.87 Hill 52 HILL 52 and 37 45 8 1.58 Hill 52 o 15m @ 5.85 g/t Au (6 – 21 m) ABR-002 2 7 5 3.65 Hill 52 CELEBRATION HIL
Slide 18: Aburna - Structural Mapping
Aburna - Structural Mapping During Q4 2021, Consultant Geologist Dr Ghislain Tourigny completed lithological and structural mapping of the prospective zones that had been identified at Aburna Prospect from surface sampling. “Gold mineralised structures are part of a curviplanar shear system associ
Slide 19: Hill 52 Area
Aburna – Trench/Channel Sampling & Drilling Hill 52 Area 19
Slide 20: Celebration Hill Area
Aburna – Trench/Channel Sampling & Drilling Celebration Hill Area 20
Slide 21: Aburna Central Area
Aburna – Trench/Channel Sampling & Drilling Aburna Central Area 21
Slide 22: Tolegimja VMS Prospect – Geology, Soil Geochemistry & Drilling
Tolegimja VMS Prospect – Geology, Soil Geochemistry & Drilling ► Tolegimja is interpreted as Bi-Modal Mafic VMS mineralisation o These are deposits associated with environments dominated by mafic volcanic rocks o With up to 25% felsic volcanic rocks (e.g. Rhyolite, felsic tuff – see in geology map b
Slide 23: Tolegimja – Soil Geochemistry/Geology/Geophysics/Drilling
Tolegimja – Soil Geochemistry/Geology/Geophysics/Drilling TLR009 TLR003 Metal Factor IP anomaly (red & white image) 2kms long at 175m vertical depth 100m x 100m soil anomalies for copper & zinc with drill hole locations on metal Geology map for Tolegimja Prospect factor IP anomaly Strong coinciden
Slide 24: Kosolda Gold Prospect – Artisanal Workings, Rock chips, Geology
Kosolda Gold Prospect – Artisanal Workings, Rock chips, Geology Geology Areas of Artisanal pits Surficial cover Granite Kosolda Meta diorite North Metasediments, Slate, Phyllite Felsic tuff Mafics Fault Rock chips – In-situ Workings Kosolda Main, north end (~800m strike) Au (ppm) Quartz Vein 0.000 –
Slide 25: Kosolda - Work Programmes
Kosolda - Work Programmes Selective rock chip, channel, blading and 100m x 100m soil sampling in 2018 & 2019 identified 4 areas of interest (Kosolda West, Main, East & North). ● Kosolda West is most significant Area. Could this be the source to the extensive alluvial gold deposit in the south? 1
Slide 26: Kona West Copper Prospect - Programmes
Kona West Copper Prospect - Programmes Malachite rich gossan occurrences with very anomalous rock chips for Cu (over ~1.5kms). Anomalous Cu in 100m x 100m soil sampling over 1,500m x 300m (open to NE & SW). Lithological & structural mapping completed. 10 hole RC drill program at Kona West (7
Slide 27: Kona West – Initial Geology, Drilling & IP Anomalies (185m)
Kona West – Initial Geology, Drilling & IP Anomalies (185m) Drilling of 10 RC holes in December 2018 did not test the large IP anomalies identified in the centre and west of the Prospect. Drilling of 2 holes in February 2022 was designed to test the strong central IP anomaly. 185m The 2 holes fa
Slide 28: Next Steps – "2022 the Year of Discovery"
Next Steps – “2022 the Year of Discovery” ANAGULU: ● Channel & trench sampling of quartz diorite outcrops over ~1.5kms area, southwest of current drilling (Completed March 2022). ● Drill testing of anomalous zones identified from the above trenching with ~2,000m of RC drilling (Q2 2022). ● Develop
Slide 29: Why Invest in Alpha?..... Listed on TSX.V under symbol ALEX
Why Invest in Alpha?..... Listed on TSX.V under symbol ALEX ► Exposure to gold, copper and zinc through: Porphyry Copper-Gold, Orogenic Gold and Volcanogenic Massive Sulphide (VMS) Prospects. ► Led by Team that discovered and/or developed: Bisha VMS Copper-Zinc-Gold Mine (Eritrea) o John Clarke
Slide 30: APPENDICES
ALPHA APPENDICES 30
Slide 31: Alpha Press Release on Massive Sulphide 'Hits' at Tolegimja
Alpha Press Release on Massive Sulphide ‘Hits’ at Tolegimja ALPHA EXPLORATION FINDS MASSIVE SULPHIDE MINERALIZATION IN 2 DRILL HOLES AT TOLEGIMJA PROSPECT March 3, 2022 Calgary, AB – Alpha Exploration Ltd. (“Alpha” or the “Company”) (TSXV: ALEX) is pleased to announce that it has recently completed
Slide 32: Advancing Prospects at the Large (771km²) Kerkasha Project
Advancing Prospects at the Large (771km²) Kerkasha Project Alpha Work Programmes +C$12MM* (March 2018 – April 2022) ● >16,000 regional & Prospect scale soil samples ● 7 new Prospects discoveries by Alpha ● >6,500 rock chip & channel samples ● Geological mapping on 12 Prospects ● Reprocessing of Ai
Slide 33: Drill hole intercept/AuEq/Metal Factor methodology
Drill hole intercept/AuEq/Metal Factor methodology ► The following methodology and calculations were used to determine the drill hole intercepts and the AuEq & CuEq calculations given on slides 12 & 14: *Intercept calculations for RC holes ANR015-030 and DD holes AND001-009 are made using following
Slide 34: Aburna Drill hole intercept Summarised
Aburna Drill hole intercept Summarised Hole From (m) To (m) Check Au (ppm) Interval (m) Average (g/t) Hole gm x m (Au) Hole From (m) To (m) Check Au (ppm) Interval (m) Average (g/t) Hole gm x m (Au) ABR001 2 19 17 0.11 17 0.77 ABR001 13.05 ABR006 0 2 2 0.25 2 0.34 ABR006 0.67 Including 2 16 14 1.67
Slide 35: Eritrea Mining Act & Alpha Agreement with ENAMCO
Eritrea Mining Act & Alpha Agreement with ENAMCO The Eritrean Mining Act is based on the West Australian Mining Act and has The agreement between Alpha Exploration been upheld in a fair and consistent manner by the Government, resulting in and the Eritrean National Mining Corporation more Mine devel
Slide 36: Contact Details
Contact Details ABOUT ALPHA EXPLORATION LIMITED Alpha Exploration Ltd is a Publicly Listed (TSX-V) Exploration Company focused on the discovery of world class economic gold & base metals deposits in the highly prospective Arabian-Nubian shield, that runs on either side of the Red Sea. Registered Off
Slide 37: Alpha Occupational Health - Safety – Employment Policies
Alpha Occupational Health - Safety – Employment Policies Alpha Exploration Limited Environmental Policy • Alpha Exploration Ltd is committed to responsible environmental impact assessment and environmental management practice, through the application of international best practice and technology. Al
Slide 38: Statutory Rights of Action
Statutory Rights of Action Statutory Rights of Action Securities legislation in certain of the provinces of Canada provides purchasers with certain statutory rights of action for damages or rescission, in addition to any other rights they may have at law, where an offering memorandum or any amendmen
Slide 39: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) Directors or Signatories will not be liable: a) if they prove the offering memorandum was sent or delivered to the purchaser without their knowledge or consent and, on becoming aware of its delivery, promptly gave general reasonable notice that it was delivered
Slide 40: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) In addition, no person or company, other than the issuer, will be liable if the person or company proves that: a) the offering memorandum or any amendment to it was sent or delivered without the person’s or company’s knowledge or consent and that, on becoming a
Slide 41: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) Newfoundland and Labrador The right of action for damages or rescission described herein is conferred by Section 130.1 of the Securities Act (Newfoundland and Labrador) (the “Newfoundland Act”). The Newfoundland Act provides, in relevant part, that where an off
Slide 42: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) a) no action shall be commenced to enforce the right of action for rescission or damages by a purchaser resident in Nova Scotia later than 120 days after the date on which the initial payment was made for the securities; b) no person will be liable if it proves
Slide 43: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) d) (no person or company will be liable with respect to any part of the offering memorandum not purporting to be made on the authority of an expert or to be a copy of, or an extract from, a report, an opinion or a statement of an expert unless the person or com