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Q2 Financial Statements and MD&A, Exploration Update and the timing of semi-annual Dividend
Alphamin Resources Corp.
Continued in the Republic of Mauritius
Date of incorporation: 12 August 1981
Corporation number: C125884 C1/GBL
TSX-V share code: AFM
JSE share code: APH
ISIN: MU0456S00006
ALPHAMIN FILES Q2 FINANCIAL STATEMENTS AND MD&A, PROVIDES EXPLORATION UPDATE AND ANNOUNCES THE TIMING OF
SEMI-ANNUAL DIVIDENDS
MAURITIUS – August 23, 2024 – Alphamin Resources Corp. (AFM:TSXV, APH:JSE
AltX)( "Alphamin" or the "Company") announced today the filing of its unaudited consolidated
financial statements and accompanying Management's Discussion and Analysis for the
quarter ended 30 June 2024 on SEDAR+ at www.sedarplus.ca, an exploration update and the
timing of dividends.
The financial statements for the quarter ended 30 June 2024 are also available on the JSE's
cloudlink at https://senspdf.jse.co.za/documents/2024/jse/isse/aphe/Q22024.pdf
Exploration Update
Following completion of the Bisie mine expansion, the Company intends to commence with
ongoing exploration drilling from Q4 2024. The exploration objectives are to:
1. Increase the Mpama North and Mpama South resource base and life of mine
2. Discover the next tin deposit in close proximity to the Bisie mine
3. Ongoing grassroots exploration in search of remote tin deposits
Initial drilling is planned at Mpama North from an underground exploration drive at level 16
which is 250m below the first mining level and extending 200m beyond the northern extremity
of the orebody. Development of this drive is nearing completion with drilling to commence early
Q4 2024. Exploration holes are planned in multiple directions on strike and at depth. Additional
underground exploration drives are planned from level 20 beyond the southern end of the
Mpama North orebody. Surface drilling is planned to commence in Q4 2024 at Mpama South
and between Mpama North and Mpama South targeting extensions at depth and on strike
further south. These initiatives are not only planned to increase life of mine but also to yield
valuable information towards discovering additional tin deposits in close proximity. In addition,
an external review of all exploration data to date is expected to guide incremental drilling
initiatives from 2025.
Timing of semi-annual dividends
In line with prior periods, the Board intends to consider the declaration of semi-annual
dividends being a final dividend and an interim dividend in April and early October of each year.
The dates of these dividend declarations are intended to be aligned with the timing of holding
of meetings of Alphamin Bisie Mining SA (ABM), the Company's 84.14% DRC operating
subsidiary, to approve ABM's annual and interim financial statements and to consider the
declaration of a dividend for distribution to shareholders of ABM.
Qualified Person
Mr. Jeremy Witley, Pr. Sci. Nat., BSc. (Hons) Mining Geology, MSc (Eng), is a qualified
person (QP) as defined in National Instrument 43-101 and has reviewed and approved the
scientific and technical information contained in this news release. He is Head of Mineral
Resources at the MSA Group (Pty) Ltd and is an independent technical consultant to the
Company.
_________________________________________________________________________________________
FOR MORE INFORMATION, PLEASE CONTACT:
Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com
23 August 2024
JSE Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-
looking information. Forward-looking statements contained herein include, without limitation,
statements relating to the timing and declaration of dividends and planned exploration
activities. Forward-looking statements are based on assumptions management believes to be
reasonable at the time such statements are made. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Although Alphamin has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-
looking statements, there may be other factors that cause results not to be as anticipated,
estimated or intended. Factors that may cause actual results to differ materially from expected
results described in forward-looking statements include, but are not limited to: uncertainties
regarding the price of tin on the international markets, the level of tin production and ability to
sell product, uninterrupted supply of equipment and consumables to effectively run the
operation, adverse political events and risks of security related incidents which may impact the
operation or safety of its people as well as those risk factors set out in the Company's annual
Management Discussion and Analysis and other disclosure documents available under the
Company's profile at www.sedarplus.ca. Forward-looking statements contained herein are
made as of the date of this news release and Alphamin disclaims any obligation to update any
forward-looking statements, whether as a result of new information, future events or results or
otherwise, except as required by applicable securities laws.
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 news release.
Date: 23-08-2024 02:30:00
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