EDITOR: | July 29th, 2013

Alpha Reports Step-Out Drilling Hits Composite Total of 21.65m “Off-Scale” Radioactivity Within 70.0m of Mineralization at R390E Zone, Patterson Lake South, Athabasca Basin

| July 29, 2013 | No Comments
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July 29, 2013 — Vancouver, BC (Source: Marketwired) — Alpha Minerals Inc. (TSX VENTURE:AMW), (the “Company” or “Alpha”), “) and its 50% Joint Venture partner Fission Uranium Corp. are pleased to announce results for an additional two holes drilled on the R390E Zone. Holes PLS13-073 and PLS13-075 tested the eastern and western extension of zone respectively and both intersected mineralization. The strike length of the R390E zone has now been increased to 105m at an early stage of the summer drill program. At 21.65m off-scale (>9999 cps) mineralization, PLS13-075 represents the largest accumulation of discrete off-scale mineralized intervals in any drill hole at PLS to date. Drilling of hole PLS13-075 is still in progress at a depth of 188.0m, and it is expected that the main zone of mineralization has been intersected and reported in this news release.

PLS13-075 Drilling Highlights include:

  • Extends strike length of R390E zone to 105m
  • 21.65m total off-scale radioactivity in several discrete intervals including
    • 16.7m of continuous off-scale (>9999 cps) (73.5m – 90.2m)
  • 82.0m of variable strength basement mineralization in two zones, separated by only 2.5m of barren rock
  • The upper zone (57.5m – 127.5m), which includes the 21.65m of total composite off-scale, reported variable weak to strong radioactivity
  • The lower zone (130.0m – 142.0m) reported weak to moderate radioactivity
  • Multiple narrow anomalous radioactive intervals present from 146.5m to 162.5m

R390E Zone:

Line 330E: Drill hole PLS13-075 (drilling is still in progress) was collared as a vertical hole. The hole is still in progress at a depth of 188.0m. The hole is collared 15m grid west of PLS13-072. Two main zones of mineralization were intersected (70.0m and 12.0m wide respectively), separated by 2.5m of unmineralized rock. The upper zone (57.5m – 127.5m) is characterized by variably weak to strong radioactivity throughout. A total cumulative of 21.65m of off-scale radioactivity (>9999 cps) was intersected throughout, with the largest discrete interval measuring 16.7m (73.5m – 90.2m). The lower zone (130.0m – 142.0m) is characterized as weak to moderate radioactivity throughout. Several additional narrow intervals of generally weak mineralization were present from 146.5m to 162.5m (see Table 1), including a 2.5m wide interval (146.5m – 149.0m of weak to strong mineralization including a narrow 0.15m wide interval of off-scale (>9999 cps) radioactivity at 147.13m. A thin cap of Devonian sandstone was encountered from 47.0m to 49.3m, overlying a quartzitic gneiss to a depth of 55.6m. The quartzitic gneiss was underlain by a foliated and locally faulted strongly altered locally strongly graphitic pelitic gneiss. Foliation is generally moderate to steep to core axis at 020° to 048°. The hole is still in progress at a depth of 188.0m. Moderate to strong clay alteration is present from 49.3m to 162.5m.

Line 435E: Drillhole PLS13-073 was collared as a vertical hole. The hole was drilled to a depth of 248.0m. The hole is collared 15m grid east of PLS13-066. Two zones of mineralization were intersected (19.5m and 11.0m wide respectively), separated by 21.0m of unmineralized rock. The upper zone (102.0m – 121.5m) is characterized by variably weak to moderate radioactivity throughout. A narrow 0.1m wide interval of off-scale radioactivity (>9999 cps) was intersected at 107.79m. The lower zone (142.5m – 153.5m) is characterized as weak to locally strong radioactivity throughout. A narrow 0.33m wide interval of off-scale radioactivity (>9999 cps) was intersected at 138.1m. A thin cap of Devonian sandstone was encountered from 50.0m to 53.0m, overlying a quartz-feldspar granofel to a depth of 90.1m. The quartz-feldspar granofel was underlain by alternating sequence of pelitic gneiss and mylonites to the end of hole depth of 248.0m. The foliated pelitic gneiss and mylonite sequence is moderately clay altered to 226.0m and sulphide bearing from 235.5m to 248.0m. Foliation is generally steep to core axis at 010° to 040°. The hole was terminated at a depth of 248.0m in unaltered sulphide bearing pelitic gneiss. It appears that this drill hole tested south of the upper pelitic gneiss and quartz-feldspar granofel contact, which has been the optimal area for intersecting high grade mineralization in the R390E zone. Stepping out to the north of drill hole PLS13-073 should test this highly prospective zone.

R390E
Collar * Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum) Devon-
ian
Sand-
stone
From –
To
(m)
Base-
ment
Uncon-
for-
mity
Depth
(m)
Total
Drill-
hole
Depth
(m)
Hole ID Grid
Line
Az Dip From
(m)
To
(m)
Wid-
th
(m)
CPS
Peak
Range
PLS13-073 435E 132 -89 102.0 121.5 19.5 <300 – >9999 50.0 – 53.0 53.0 248.0
142.5 153.5 11.0 <300 – >9999
PLS13-075 330E 0 -90 57.5 127.5 70.0 <300 – >9999 47.0 – 49.3 49.3 188.0
67.5 90.5 23.0 580 – >9999
130.0 142.0 12.0 <300 – 6800
146.5 149.0 2.5 <300 – >9999
151.0 153.0 2.0 400 – 1800
157.0 157.5 0.5 1000
160.0 162.5 2.5 <300 – 3600
* Scintillometer Instrument: GR-110G

A $6.95M, 44 hole, 11,000m drill program and ground geophysics surveys continues at PLS.

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand held Exploranium GR-110G total count gamma-ray scintillometer. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole, core interval measurements and true thickness is yet to be determined.

All holes are planned to be radiometrically surveyed using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high grade mineralization.

Split core samples from the mineralized section of core will be taken continuously through the mineralized intervals and submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon for analysis, which includes U3O8 (wt %) and fire assay for gold. All samples sent for analysis will include a 63 element ICP-OES, uranium by ICP-MS and boron. Assay results will be released when received.

For additional comments about the Summer 2013 Program, please watch a video HERE: https://www.youtube.com/watch?v=FkZgVf4aazo

Patterson Lake South Property

The 31,000 hectare (76,000 acres) PLS project is a 50%/50% Joint Venture held by Alpha Minerals Inc (AMW) and Fission Uranium (FCU). The Joint Venture property is 100% owned with no underlying royalties or vendor payments. Alpha returns as the Operator of the Joint Venture in 2014. The property is accessible by road with primary access from all-weather Highway 955, which runs 74km north to the former Cluff Lake mine, (>60M lbs of U3O8 produced from multiple open pit and underground mines), and passes through the claims covering the UEX-Areva Shea Creek discoveries located 58km to the north, currently under active exploration and development.

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 Minerals Inc, by Garrett Ainsworth, P.Geo., Vice President Exploration, a qualified person.

On behalf of the Board of Directors of Alpha Minerals Inc.

“Ben Ainsworth”
President, CEO and Director

Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for the video and further updated information.

Neither the 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 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

Editor:

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>


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