Alpha Exploration Ltd. announced an exploration update over the 100% owned, 771km2 Kerkasha Project located in southern Eritrea. Recent exploration has focused on the Company's district scale, orogenic Aburna Gold Prospect. Following completion of separate 5km x 2km GAIP (Gradient Array Induced Polarization) and ground magnetic surveys in March to July this year, as well as 4,356m of trenching at the Aburna Gold Prospect, the Company has defined four primary targets covering >5km of strike.

These include, a large 2km long chargeability target and separate 400m diameter ground magnetic target, modelled to be an intrusive and potential porphyry at depth. The GAIP survey has also established other new, priority targets including a 2km combined chargeability and resistivity anomaly (?Target 2?) 1km east of existing drilling at Northeast Area prospect. Separately, the completion of 19 additional trenches by the Company since March this year has confirmed a new trend of mineralisation directly north of the Northeast Area prospect which also coincides with a 1km long, linear chargeability target (?Target 3?).

Significant mineralisation has now been intersected in trenching over a strike of >1km on the Northeast Area prospect. Summary of new priority geophysics targets: Target 1: >2km long GAIP target: Extends from the area of colonial gold workings in the south of licence through to existing Hill 52 and Central Area prospects; Existing drilling close to northern boundary of target includes ABR005: 15 m @ 5.9 g/t Au from 6 m & ABR018: 28 m @ 3.7 g/t Au from 50 m. Also coincides with major >100 ppb Au soil anomaly Target; Northeast extent of Target 1 coincides with major ground magnetic anomaly at Central Area where recent drilling has intersected wide areas of mineralisation including ABR064: 34 m @ 1.5 g/t Au from 38 m and ABR031: 18m @ 2.27 g/t Au from 130m; Central Area magnetic anomaly interpreted to be an intrusive and potential porphyry target; Target 1 GAIP anomaly is related to major granodiorite/mafic contact which is known to be a priority source of mineralisation at Aburna and other orogenic gold systems. Target 2: > 1.25km GAIP target: NE orientated major chargeability high and equivalent resistivity low extending for >1.25km in Strike; Target 2 lies southeast of existing mineralisation that includes ABR037: 16m @ 14.07 g/t Au from 14m and ABR044: 13m @ 4.24 g/t Au from 120m. Target 3: 1km long + >500m long chargeability targets directly east of ?Northeast Area?

drilling: NE striking chargeability target > 500m long and separate 1km long NNE striking structural target; Potential of >500m long chargeability target confirmed from recent drilling (ABR069: 6m@ 5 g/t Au from 90m) and prior trenching at southern end of anomaly (ABCHAN012: 8m @ 2.2 g/t Au); Additional 1km long structural target within >100 ppb Au soil anomaly and recent trenching including 8m @1.79 g.t Au and 17m @ 1.03 g/t Au from trenches ABTRCH063 and ABTRCH065 respectively. Target 4: 1km structural target directly north east of Celebration Hill prospect: Target lies along strike and directly east of prior drilling at Celebration Hill where prior drilling includes ABR008: 14m @ 3.8 g/t Au from 49m and ABR027: 26m @ 1.4 g/t Au from 126m; Numerous mapped colonial era workings and extensive soil anomaly >100 ppb Au; Major contact between granodiorite and mafic volcaniclastic unit which is a priority mineralisation target on Aburna and other orogenic gold systems. Trenching results confirm 500m strike extension to Northeast Area prospect: Since March 2023, 19 additional trenches for 4,356 samples have been completed at Aburna in a third phase of trenching on the project to test extensions to mineralisation seen at Northeast Area and the Dasharna prospects. Significant gold mineralized has been intersected in trenches ABTRCH062, ABTRCH063 and ABTRCH065, to the northwest of the Dasharna prospect.

Further trenching undertaken southwest of the Hill 52 prospect and northeast of the Northeast Area prospect has revealed well developed carbonate alteration within sheared meta-basaltic lithologies with abundant discordant, barren quartz veins; that is considered to be a favourable host rock for gold mineralization at Aburna and is typical of the upper portions of the Aburna gold-mineralized orogenic system and may therefore justify deeper drilling in these areas. Significant intervals from recent trenching are presented in table 1. Both ABTRCH063 and ABTRCH065 resulted in mineralised intervals of 8m @1.79 g/t Au and 17m @ 1.03 g/t Au, respectively. ABTRCH065 was a replicate trench excavated 100m northeast of ABTRCH063 and approximately 500m northeast of recent scout drilling (results pending) which is approximately 500m northeast of earlier drilling at the Northeast prospect.

These results suggest there may be over 1000m of mineralized strike length in the Northeast prospect. Ground Gradient Array Induced Polarisation (?GAIP?) Study & Ground Magnetic Survey: Induced Polarization (IP) is a geophysical method which indirectly measures the chargeability of the subsurface. Measuring the decaying voltage as a function of time after an injection of a direct current, it is possible to calculate the apparent chargeability.

Many metals or sulfides have high chargeability while dry, unmineralized igneous/metamorphic rocks tend to have a very low chargeability. The GAIP survey was completed between June and July 2023 and covered an area of 5km x 2km comprising all of the 6 key prospects defined to date at Aburna. Data was collected along survey lines spaced at 80m with reading stations spaced at 20m within 10, 1km x 1km blocks.

The survey was undertaken by Géophysique TMC from Val-d'Or, Quebec, Canada and utilised a GDD 5kW transmitter and two Elrec Pro 10-channel receivers. Data processing and modelling was undertaken by Southern Geoscience of Perth, Australia. Ground magnetic surveys are used to measure small variations in the Earth's magnetic field produced by shallow sources under the ground.

The magnetic properties of ferrous objects, or naturally occurring materials such as ore bodies allows them to be detected and mapped by magnetic surveys. The ground magnetics survey covered an area of 5km by 2km and was completed between March and June 2023 by Alpha's technical team using a Geometrics G858 & G857 magnetometers and Emlid Reac H2 + DGPS base station. Data processing and modelling was undertaken by Southern Geoscience of Perth, Australia.