Calgary, Alberta--(Newsfile Corp. - November 7, 2024) - Alpha Exploration Ltd. (TSXV: ALEX) ("Alpha or the "Corporation") is pleased to announce the results of its annual general meeting of shareholders held on November 6, 2024 (the "Meeting"). All matters presented for approval at the Meeting have been fully authorized and approved. A total of 49,958,116.26 ordinary shares ("Shares"), representing 55.10% of the Shares issued and outstanding, were represented in person or by proxy at the Meeting. A brief description of the matters voted upon and the outcome of the votes is set forth below.

Fixing Number of Directors

The ordinary resolution to approve fixing the number of directors to be elected at the Meeting at five (5) was approved at the Meeting by the shareholders present in person or represented by proxy at the Meeting, as follows:

Election of Directors

All of the nominees proposed as directors of the Corporation were duly elected as directors of the Corporation with votes cast by the shareholders present in person or represented by proxy at the meeting, as follows:

Appointment of Auditor

An ordinary resolution to approve the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the auditors of the Corporation, was approved at the Meeting by the shareholders present in person or represented by proxy at the Meeting, as follows:

Stock Option Plan

The stock option plan of the Corporation, as described in the management information circular of the Corporation dated October 7, 2024 (the "Circular") was approved with votes cast by the shareholders present in person or represented by proxy at the meeting, as follows:

The Corporation also wishes to provide a clarification to the Circular; where the Circular stated that Alpha Discovery Holdings Ltd. holds 29,315,784.2 Shares, being 32.336% of the Shares of the Corporation, the Circular should state that Alpha Discovery Holdings Ltd. holds 50,532,153 Shares, representing 55.74% of the Shares of the Corporation.

TERMINATION OF PRIVATE PLACEMENT

Further to the Corporation's previous announcement on July 16, 2024 of a $6.0 million private placement offering of Shares (the "Private Placement"), due to market conditions the Corporation announces that it did not close the Private Placement within the 45-day offering period prescribed by Section 5A.4(2) of National Instrument 45-106 - Prospectus Exemptions. As the Private Placement did not close within the prescribed offering period, the Private Placement has been terminated. The Corporation continues to consider certain other financing options available to it at this time, and will announce any such options it decides to pursue in future press releases in accordance with applicable securities laws.

ABOUT ALPHA EXPLORATION LTD.

Alpha (TSXV: ALEX) is an exploration company that is rapidly advancing a number of important gold and base metal discoveries across its 100% owned, large (771 km2 ) Kerkasha Project in Eritrea.

The Company has also advanced the Aburna Gold Prospect, the Anagulu Gold-Copper Porphyry, the Tolegimja VMS Copper-Zinc-Gold Prospect and over 17 other gold prospects since listing in 2021.

The Company is managed by a group of highly experienced and successful professionals with long track records of establishing, building and successfully exiting a number of world class gold and base metals discoveries in Eritrea and across the wider Arabian Nubian Shield.

For further information go to the Alpha webpage at or contact:

Cautionary Notes

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of the content of this release.

This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Information

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to: the Corporation's advancement of exploration work on the Kerkasha Project and any future financing efforts of the Corporation. Often, but not always, forward-looking statements or information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions including among other things, assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.

Although management of Alpha believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to Alpha's financing efforts; risks associated with the business of Alpha given its limited operating history; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions). Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.