Alphamin Resources Corp. announced completion of the infill drilling campaign at Mpama South and an updated Mineral Resource Estimate (MRE) for Mpama South. This brings forward an additional planned ~7,200tpa contained tin production, which will make Alphamin one of the tin producers globally and delivers on the Company strategy of organic growth and creating shareholder value.

The updated Mineral Resource for Mpama South follows eight months after the previous update announced on 31 May 2022. The update is based on receipt of assays for another 63 infill and extensional drillholes completed subsequent to the previous estimate which was based on 124 drillholes. The updated MRE now includes results from 187 drillholes at Mpama South as well as 6 drillholes drilled in 2015 in the area between Mpama South and the Mpama North ore body.

The MRE was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (2019) and is reported in accordance with the 2014 CIM Definition Standards. Mineral Resources that are not Mineral Reserves do not have a demonstrated economic viability and require advanced studies and economic analysis to prove their viability for extraction. Extensional drilling down-dip and in the shallower northern and southern portions of Mpama South can be conducted at the Company's election to carry on extending known mineralisation at Mpama South, which is still open in multiple directions.

However, for 2023, the focus will primarily be aimed at the Mpama South Mine construction and commissioning efforts, while exploration drilling will be curtailed, instead, focusing on further field work campaigns to support future programs. Alphamin intensified exploration drilling on the 13km long Bisie Ridge from Third Quarter 2022 to test highly anomalous soil, geophysical and structural targets identified during 2021. 8,773 metres of the 10,000 metre Phase 1 diamond core programme have been completed along the Ridge, with the remainder due for completion in First Quarter 2023. Although anomalous mineralisation has been confirmed in drilling on the Ridge, it is not of the obvious coarse visual cassiterite type frequently seen in drillcore from Mpama North and South.

Only ~25% of assays have been returned from the independent laboratory to date from the Ridge drilling. Assay results when received will support a fuller investigation into the regional setting, along with data from the on-going geophysical downhole surveys, structural investigations and mapping, thereby enabling a refocused exploration programme. Until then, the key focus at site remains the construction and commissioning of the new Mpama South Mine.