VANCOUVER, British Columbia, June 25, 2014 (GLOBE NEWSWIRE) -- ALPHA EXPLORATION INC. ("Alpha" or the "Company") (TSX-V:AEX) is pleased to announce that Noka Resources Inc. (TSX-V:NX) (FSE:2NK) ("Noka") has informed the Company that it has filed a technical report entitled "Technical Report on the Carpenter Lake Property, Northern Saskatchewan" dated June 13, 2014 and prepared by Allan Armitage, Ph.D., P.Geol., of Geovector Management Inc. Dr. Armitage is an independent qualified person under NI 43-101 regulations. The National Instrument 43-101 technical report is available under Noka's profile on SEDAR.
In January 2014, Alpha optioned the Carpenter Lake Property from Noka to earn a 60-per-cent interest in the property by making cash payments totaling $50,000, issuing 400,000 shares and completing work commitments of $1.25-million, all over a period of three years. Upon completion of the option, a joint venture will be formed between Alpha (60 per cent) and Noka (40 per cent) for the further development of the property, with Alpha serving as the operator. The Carpenter Lake Property lies approximately 85 kilometres west of the past-producing Key Lake mine infrastructure and mill complex and extends for approximately 25 km along the southern extension of the Cable Bay shear zone.
Recent work completed by Alpha in 2014 includes:
Radon-in-water and lake sediment geochemical sampling (see news release dated May 21, 2014) has outlined several areas of interest for summer 2014 evaluation. The radon-in-water and lake sediment uranium anomalies found in the 2014 survey are important indicators for locating potential buried uranium mineralization.
A property-wide VTEM airborne survey was completed by Aeroquest Airborne in February, 2014. Some of the recently identified geochemical anomalies lie close to crosscutting geological structures and conductors interpreted by Condor Geophysics from the VTEM survey.
Results of the above work are summarized in Dr. Armitage's technical report.
An airborne gamma spectrometer survey is contracted for execution by Goldak Airborne Surveys as soon as drier ground conditions allow for better gamma radiation signal response. This airborne gamma survey has the capability to identify radioactive boulders similar to those found on the Fission Uranium / Alpha Minerals Patterson Lake South joint venture in 2011, prior to the discovery of high-grade uranium by drilling in late 2012.
A boulder prospecting program is planned to follow up on the results of the airborne gamma survey and a further radon surveying is planned for targets up-ice from radon-in-water and lake sediment uranium anomalies.
Alpha Exploration has engaged Discovery Consultants of Vernon, B.C. to manage Alpha's 2014 work programs. The senior members of Discovery's team have extensive uranium exploration experience in the Athabasca basin and in several international jurisdictions.
About Alpha Exploration Inc.
Alpha Exploration Inc. is a mineral exploration company whose uranium experience was developed with the discovery of the Roughrider deposits and subsequently the Patterson Lake South discovery in 2012 via Alpha Mineral's successful JV with Fission Uranium. The principals of the Company comprise a team that were involved in the discovery and development of those world class deposits. The Company started with a principal focus in the exploration and development of its Mikwam Gold Property in Ontario, and that focus has been moved to development of uranium properties in the Athabasca Basin in northern Saskatchewan, Canada. Common Shares are listed on the TSX Venture Exchange under the symbol "AEX". Additional information about Alpha is available on Alpha's website at www.alpha-aex.com or under its profile on SEDAR at www.sedar.com.
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 reviewed on behalf of Alpha Exploration by Benjamin Ainsworth, P.Eng., President, CEO, a qualified person.
On behalf of the Board of Directors of Alpha Exploration Inc.
President, CEO and Director
For corporate communications please contact:
Robert (Bob) Meister
Alpha Exploration Inc.
Trading Symbol: TSX-V – AEX
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