×

Alpha Reports That Targets Emerge at Carpenter Lake Property, Athabasca Basin, Saskatchewan

VANCOUVER, British Columbia, Oct. 28, 2014 (GLOBE NEWSWIRE) -- ALPHA EXPLORATION INC. ("Alpha" or the "Company") (TSX-V:AEX) is pleased to provide an update on the Carpenter Lake Project ("Carpenter Lake", or the "Property"), Athabasca Basin, Saskatchewan, Canada, as part of Alpha's Option Agreement to earn a 60% interest in the Carpenter Lake Property from Noka Resources Inc.

All geochemical data from the 2014 winter and summer exploration programs have been received by Alpha. Results have been integrated with historical geochemical data sets, and with airborne geophysical surveys flown recently by Alpha. Figure 1 provides a summary of key target areas, including:

  • the high surface radioactivity around Sill Lake west of the Cable Bay Shear Zone, and;
  • high uranium in lake sediment concentrations along the Cable Bay Shear Zone.

To view Figure 1, Summary of Key Target Areas, please visit:

https://orders.newsfilecorp.com/files/3046/12273_alpha1enhanced.jpg

For illustration, lake sediment concentrations of up to 37 ppm uranium compare favourably to the Patterson Lake area where 3.8 ppm uranium was the strongest anomaly obtained, and spatially associated to the uraniferous boulder field.

Both target areas are bolstered by the presence of:

  1. conductors parallel to the Cable Bay Shear Zone
  2. orthogonal structural offsets of conductors, as inferred from airborne geophysical surveys.

Alpha will continue to evaluate and prioritize the integrated target areas, and will provide details for anticipated follow up work this winter once programs and budgets are approved.

Summary of Exploration done in 2014:

  • 71 rock samples collected during a three week summer boulder prospecting program;
  • 1,473 radon samples collected during a two-stage winter and summer program;
  • 60 lake sediment samples collected during a three week winter program;
  • Airborne gamma spectrometer survey in July: 3,931 line-kilometres covering 10x20 kilometre block at 50 metre line spacing (news release July 24, 2014);
  • Airborne VTEM survey in February (versatile time-domain electromagnetic and magnetic surveys): 1,892 line-kilometers over a 10x20 kilometre block at 100 metre line spacing (news release dated Feb. 3, 2014).

Figure 2 on Alpha's website provides detailed information for geochemical samples, airborne radiometric anomalies, conductors and inferred structures.

To view Figure 2, Carpenter Lake 2014 Exploration Program, please visit:

https://orders.newsfilecorp.com/files/3046/12273_alpha2enhanced.jpg

About Carpenter Lake

Carpenter Lake lies approximately 85 kilometres west of the past-producing Key Lake uranium mine. It spans the Cable Bay shear zone, and straddles the southern margin of the Athabasca Basin. The Property covers 20,637 hectares within five contiguous mineral dispositions, and is under an option agreement from Noka Resources Inc. ("Noka"). Details of the agreement are on the Company's website. Alpha is the operator for exploration.

Alpha has been notified that Noka has exercised its right to reduce the underlying royalty payable on the Property from 5 percent to 2 percent by issuing 3 million common shares of Noka to the original property vendors.

Please see the Company's website at www.alpha-aex.com for any additional information on Carpenter Lake, or other properties.

About Alpha Exploration Inc.

Alpha is a junior mineral exploration company focused on uranium in the Athabasca Basin in northern Saskatchewan, Canada. The Company is based in Vancouver and its common shares are listed on the TSX Venture Exchange under the symbol "AEX". Alpha is well financed to actively explore a portfolio of early-stage properties. Technical reports are available on SEDAR (www.sedar.com) for three of the Company's active properties. Alpha continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.

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 has been reviewed and approved on behalf of the Company by Dr. Michael H. Gunning, PhD, PEng, PGeo, a qualified person.

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

"Dr. Michael H. Gunning"

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.

CONTACT: For corporate communications please contact: Robert (Bob) Meister Alpha Exploration Inc. info@alpha-aex.com Trading Symbol: TSX-V: AEXSource:Alpha Exploration Inc.