Alpha Receives TSX Venture Exchange Approval for Option on Kelic Lake Uranium Property, Athabasca Basin, Saskatchewan
September 15, 2014 (Source: Newsfile) — ALPHA EXPLORATION INC. (TSX-V: AEX) (“Alpha“, “AEX” or the “Company”) is pleased to announce that the TSX Venture Exchange has accepted for filing an option agreement for the Kelic Lake Uranium Property (the “Property”, see news release dated September 3, 2014).
The Property is located along the inferred southern margin of the Athabasca Basin (see location map provided at the Company’s website at www.alpha-aex.com). This property will benefit from the Company’s focus and expertise on properties of similar setting and potential, including Patterson Lake South deposit to the west, and the Carpenter Lake Property to the east.
The Company has initiated compilation of historical and current exploration data towards prioritizing target areas and formulating plans for both airborne geophysics and surface exploration this fall. Details will be provided when programs and budgets are approved.
Under the terms of the option, AEX may earn a 100% interest in the Property by making cash payments totalling $80,000; issuing a total of 1,000,000 common shares; and completing a total of $750,000 worth of exploration expenditures, all in stages prior to December 14, 2016. The optionors shall retain a 2.5% royalty on production from the Property, which can be reduced, at the option of AEX, to a 1% royalty by payment of the sum of $1,500,000 to the optionors at any time prior to commencement of commercial production.
About Alpha Exploration Inc.
Alpha Exploration Inc. is a junior mineral exploration company focused on uranium in the Athabasca Basin in northern Saskatchewan, Canada. Common Shares are listed on the TSX Venture Exchange under the symbol “AEX”. The Company actively explores a portfolio of early-stage properties, and continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.
Get our daily investorintel update
Additional information about Alpha is available on Alpha’s website at www.alpha-aex.com or under its profile on SEDAR at www.sedar.com.
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 Exploration Inc., by Benjamin Ainsworth, P.Eng. BC/SK., a qualified person.
On behalf of the Board of Directors of Alpha Exploration Inc.
Interim CEO and Chairman
Neither 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.
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 exploration and 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>