Alpha Exploration Ltd. · TSXV:ALEX
Alpha Exploration — Investor Presentation (January 2022)
42 slides from Alpha Exploration's investor presentation, Jan 23, 2022
Slide 1: Making Gold & Copper Discoveries in the Arabian-Nubian Shield
TSX.V Symbol Making Gold & Copper Discoveries ‘ALEX’ in the Arabian-Nubian Shield Aburna Colonial Gold Mine Area Alpha Exploration Limited 23 January 2022 Presentation ALPHA-EXPLORATION.COM 1
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 TSXV:ALEX Started trading on TSX-V exchange on November 1, 2021 MISSION STATEMENT Exploring for Copper, Gold and Zinc in the highly prospective Arabian-Nubian shield of NE Africa LARGE PROPERTY (771km²) 100% OWNED KERKASHA LICENSE, ERITREA 771 Km² - 17 prospect
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 January 1, 2022 Shares Outstanding 69,213,178 • Ordinary Shares 53,927,019 • Preference Shares 15,286,159 Management Ownership 15% Founder’s Performance Warrants 6,
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 – Exploration Management
Alpha Team – Exploration Management Tewelde Haile - Exploration Manager BSc Honors (Geology), Addis Ababa University (1985), MSc, Indian Institute of Technology – Kharagpur (1987-1988): • More than 30 years work experience with Mineral Exploration companies and with the Geological Surveys of Ethiopi
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 100 years, few mines discovered. The Arabian-Nubian Shi
Slide 8: Kerkasha License & Significant Mines & Projects in Eritrea
Kerkasha License & Significant Mines & Projects in Eritrea Alpha Exploration Asmara o Work Programmes Project o (March 2018 – September 2021) Bisha Mine o Expenditure +C$11MM Thani-Ashanti o Work Programmes o (March 2010 – March 2013) o Expenditure +C$4MM 8 Colonial Gold Mines (red starts), Arti
Slide 9: Anagulu – New Porphyry Gold-Copper Discovery
Anagulu – New Porphyry Gold-Copper Discovery “It is confirmed that Anagulu is undoubtedly a porphyry gold- copper system centred on a distinctive, dyke-like porphyry intrusion”. (Dr Richard Sillitoe – Nov 2021). Location Significant rock chip geochemistry for gold and copper of photo (extending
Slide 10: Anagulu – Rock Chip Samples & Assays for Gold & Copper
Anagulu – Rock Chip Samples & Assays for Gold & Copper “The highest-grade copper-gold mineralisation is contained in a zone of porphyry-type, sheeted quartz veinlets near the upper eastern margin of the intrusion”. (Dr Richard Sillitoe – Nov 2021) Cu values in rock chip greater than 1% Very sign
Slide 11: 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 12: Anagulu – Drill Programmes
Anagulu – Drill Programmes Hole in previous drill programmes Soil Au contour >25ppb Soil Cu contour >100ppm 12 Drill location plan of previous & latest drilling with zone of best drill results to date (yellow ellipsoid) on soil anomalies for copper and gold with sections shown as yellow lines (local
Slide 13: Anagulu – Best Drill Results Summary
Anagulu – Best Drill Results Summary Anagulu Best Intervals for Au-Cu-Ag + Au & Cu Equivalents DRILL PROGRAMMES From Interval CuEq AuEq AuEq gms Hole_ID To (m) Au (g/t) Cu (%) Ag (g/t) (m) (m) (%)*** (g/t)** x metres Significant intervals of higher grade gold- AND001 60.00 168.00 108.00 1.24 0.60
Slide 14: Anagulu Northeast – Section 42 (Local Grid)
Anagulu Northeast – Section 42 (Local Grid) 70m @ 1.13 AuEq 63.7m @ 1.69 AuEq 70m @ 1.18 AuEq 85.25m @ 0.52 AuEq 100m 118m @ 0.42 AuEq NOTE: Holes ANR029 and ANR033 have been pulled up to 40m onto the section lines 40 & 42 (respectively) and this may distort the geological and mineralisation interpr
Slide 15: Anagulu Northeast – Section 40 (Local Grid)
Anagulu Northeast – Section 40 (Local Grid) 95m @ 1.31 AuEq 109m @ 1.34 AuEq 108m @ 2.19 AuEq 70m @ 0.33 AuEq 3m @ 6.03 AuEq 100m NOTE: Holes ANR029 and ANR033 have been pulled up to 40m onto the section lines 40 & 42 (respectively) and this may distort the geological and mineralisation interpretati
Slide 16: Anagulu Northeast – Section 38 (Local Grid)
Anagulu Northeast – Section 38 (Local Grid) 106m @ 0.83 AuEq 42m @ 0.58 AuEq 100m NOTE: Holes ANR029 and ANR033 have been pulled up to 40m onto the section lines 40 & 16 42 (respectively) and this may distort the geological and mineralisation interpretation
Slide 17: Aburna Orogenic Gold Prospect – Colonial & Artisanal Mining
Aburna Orogenic Gold Prospect – Colonial & Artisanal Mining MACHINE LEARNING In-situ Artisanal Gold Mine Workings - Aburna Advanced Project Manager for Alpha (Scott McKeag) at in-situ Artisanal Gold Mine Workings Free gold Aburna Exploration Team Gold tail in dish from panning at in-situ Artisanal G
Slide 18: Aburna – Soil Sampling
Aburna – 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 open to the NE & SW. Ana
Slide 19: Aburna – Rock Chip Sampling
Aburna – Rock Chip Sampling In November and December 2020, Alpha Geologists took 352 grab samples as part of an initial reconnaissance of the Aburna gold prospect. 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. 37.1 o Thirt
Slide 20: Aburna – Channel Sampling
Aburna – Channel Sampling From April - September 2021: o 54 channels were cleared of colluvium o 1,536 rock-chip samples were taken at 1m intervals across the strike of mineralisation at the 5 prospective zones at Aburna, defined from the reconnaissance rock chip sampling The channel sampling re
Slide 21: Aburna – Trench Sampling
Aburna – Trench Sampling To verify channel sampling results, a total of 12 trenches (1-2m deep) were dug with a bull-dozer. The base of the trenches were mapped and sampled. This program continues with a further 30 trenches dug using a back-hoe. Assay results for the back-hoe sampling are awaite
Slide 22: Aburna - Structural Mapping
Aburna - Structural Mapping During Q4 2021, Consultant Geologist Dr Ghislain Tourigny geological completed detailed 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 ass
Slide 23: Tolegimja Copper-Zinc-Gold VMS Prospect – Soil Sample Results
Tolegimja Copper-Zinc-Gold VMS Prospect – Soil Sample Results 23 100m x 100m soil sample assays for Copper (>100ppm), Zinc (>100ppm), Gold (>0.025ppm)
Slide 24: Tolegimja – Copper with IP Anomalies (295m) & Geology
Tolegimja – Copper with IP Anomalies (295m) & Geology Tolegimja looks like a bimodal-mafic VMS setting. Best surface copper values between felsic and mafic volcanics were gossans occur. Strong coincidence of best copper values at surface with 3 strong chargeability (IP) anomalies (white & red
Slide 25: 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 26: Kona West – Initial Geology, Drilling & IP Anomalies (185m)
Kona West – Initial Geology, Drilling & IP Anomalies (185m) Drilling to date has not tested the large IP anomalies identified in the centre and west of the Prospect. The next phase of drilling will test the strong central IP anomaly with ~1,000m of RC drilling 185m in Q1 2022. Soil sampling anom
Slide 27: 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 – Au (ppm) Quartz Vein 0.000 – 0.004 Felsic dyke 0.005 – 0.100 Mafic dyke 0.101 – 0.50
Slide 28: 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 from soil sampling. Could this be the source to the extensive alluvial gold deposi
Slide 29: Next Steps – “2022 the Year of Discovery”
Next Steps – “2022 the Year of Discovery” ANAGULU: ● Channel & trench sampling of quartz diorite porphyry outcrops over ~1.5kms area, southwest of current drilling (Q1 2022) ● Drill testing of anomalous zones identified from the above trenching with ~2,000m of RC drilling (Q2 2022) ● Develop a Mai
Slide 30: 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 31: APPENDICES
ALPHA APPENDICES 31
Slide 32: Advancing Prospects at the Large (771km²) Kerkasha Project
Advancing Prospects at the Large (771km²) Kerkasha Project Alpha Work Programmes +C$11MM (March 2018 – September 2021) ● >14,000 regional & Prospect scale soil samples ● 7 new Prospects discoveries by Alpha ● >6,000 rock chip & channel samples ● Geological mapping on 12 Prospects ● Reprocessing of
Slide 33: 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 34: Drill hole intercept & AuEq calculation methodology
Drill hole intercept & AuEq calculation methodology ► The following methodology and calculations were used to determine the drill hole intercepts and the AuEq & CuEq calculations given on slides 11 & 13: *Intercept calculations for RC holes ANR015-030 and DD holes AND001-009 are made using following
Slide 35: Contact Details
Contact Details ABOUT ALPHA EXPLORATION LIMITED Alpha Exploration Ltd is a private 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. The Company expects to be list
Slide 36: 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 37: 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 38: 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 39: 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 40: 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 41: 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 42: Statutory Rights of Action (continued)
Statutory Rights of Action (continued) d) in an action for damages, the defendant will not be liable for all or any portion of the damages that it proves do not represent the depreciation in value of the securities as a result of the misrepresentation relied upon; and e) in no case shall the amount
Alpha Exploration — Investor Presentation (January 2022) on 6ix