Alpha Further Expands Footprint of Anagulu Copper-Gold Porphyry Prospect and Discovers New Nightjar Target Zone Measuring 1 x 0.15km

13:00 Uhr  |  Newsfile

Calgary, June 24, 2026 - Alpha Exploration Ltd. (TSXV: ALEX) ("Alpha" or the "Company") is pleased to announce recently available sampling results from shallow Rotary Air Blast ("RAB") drilling at the Anagulu Copper-Gold Porphyry Project. To date results are now available for a total of 4,738 metres of an ongoing RAB drilling program being conducted to follow up from initial termite mound sampling copper anomalies. The reconnaissance RAB drilling program is designed to expand and define the target footprint of the Anagulu Copper-Gold Porphyry where it is concealed under immature soil cover. This new batch of results reported here relate to 2,609 metres in 335 holes with an average depth of 7.8 metres in the ongoing program.

This project is located within its 100% owned, 514km² Kerkasha Project located in Eritrea. The Anagulu copper-gold porphyry was discovered by the Alpha team through surface sampling and mapping with follow-up drilling. Previously reported drilled intercepts include 108 metres @ 1.24 g/t gold and 0.60% copper including 49 metres @ 2.42 g/t gold and 1.10% copper, and 120 metres @ 0.47 g/t gold and 0.30 % copper in drill holes AND001 and ANRD049 respectively. The project is located some 7 kilometres south of the Company's shallow, Aburna Gold Project and these projects are two of three significant discoveries made by the Alpha team on the Kerkasha licence.

HIGHLIGHTS OF ONGOING ANAGULU COPPER-GOLD PORPHYRY RECONNAISSANCE RAB DRILLING

• Shallow RAB drilling delivers new Nightjar Target Zone measuring some 1 kilometre along trend and 125-150 metres in width with top of bedrock copper samples ranging from 3,390 parts per million (ppm) (0.33%) to 310 ppm copper
• Nightjar Target Zone is located some 2 kilometres northeast from the main area of drilled porphyry copper-gold mineralization, is located near a magmatic-hydrothermal breccia, and could represent a second intrusive porphyry centre
• Camel Target Zone expanded and defined to over 1 kilometre along trend and 125-250 metres width with top of bedrock copper samples in RAB Area 5, ranging from 3,274 ppm (0.33%) to 300 ppm copper
• The width and grade of the Camel Target increases to the southwest and overall appears to have higher copper values than the comparable Discovery target zone based on the RAB sample results
• Camel Target remains open to the southwest where RAB drilling is ongoing in an area with anomalous termite mound sampling results

John Wilton, CEO of Alpha, stated: "We are very pleased with this second batch of shallow RAB drilling copper results from the ongoing exploration field activities at our Anagulu Porphyry Copper-Gold Prospect. These results have delivered the new Nightjar target zone located some 2 kilometres northeast of Alpha's original Anagulu discovery area and expanded the Camel target zone to over 1 kilometre along trend. In general, both the width and grade of the Camel target increases towards the southwest, and these top of bedrock copper values exceed those of the comparable Discovery target zone.

These new and expanded target zones have significant scale footprints of over 1 kilometre along trend and some 125 to 250 metres in near surface widths. Importantly the Camel and Nightjar target zones were concealed under areas of shallow but immature soil cover, precluding them from conventional soil sampling detection. These new copper-gold target zones further indicate the large size footprint and shallow depth potential of the Anagulu Porphyry Copper-Gold Prospect. These zones will be tested by follow up reverse circulation and core drilling."

ANAGULU COPPER GOLD PROJECT: RAB SAMPLING RESULTS

Alpha's ongoing RAB drilling program at the Anagulu Project has to date completed 595 holes for 4,738 metres with an average depth of approximately 7.96 metres per hole. This shallow RAB drilling program is deployed as a rapid and cost-effective reconnaissance exploration method to initially test and define copper anomalies generated by termite mound sampling in areas of predominantly immature, transported soil cover. The RAB holes provide valuable top of bedrock and weathered bedrock geological and geochemical information. Representative material from the deepest two, one-metre, samples of each RAB drill hole are analysed by pXRF with the peak copper value, one metre sample reported, and as this shallow drilling method is intended to identify and define near-surface copper anomalies its relationship to the targets true thickness is unknown at this time (see QA/QC section for more details).

Figure 1 shows the location and outline of the Nightjar, Camel and other recently identified RAB target zones based on an approximately greater than 400 ppm copper contour. The significantly expanded target footprint of the porphyry copper-gold mineralization is clearly illustrated within and to the boundaries of an overall 4 by 2-kilometre prospective area that had already been defined by the Alpha team by drilling and recognised from copper in soil data to extend for some 2 by 0.5 kilometres.

The new Nightjar target is located some 2-kilomteres northeast of the previously discovered copper-gold mineralization. This Nightjar target alone extends over 1 kilometre along a north-north-east trend, has an approximate near-surface width of some 125 to 150 metres and occurs in an area of mapped magmatic-hydrothermal breccia. The top of bedrock RAB sample results within the interpreted target zone range from 3,390 ppm copper (0.33% copper) to 310 ppm copper.

The location of the Nightjar target, its appreciable size and proximity to magmatic-hydrothermal breccia mapped in outcrop suggests that it could represent a second fertile porphyry centre recognised, to date, on the property.

Figure 1 also shows how the recent Area 5 RAB results have expanded and defined the Camel target zone to over 1 kilometre along its southwest to northeast trend. The Camel target has a near-surface width of some 125 metres in the northeast, expanding to approximately 250 metres in the southwest where it currently remains open into an area of anomalous copper samples in termite mounds.

It is also apparent that the overall copper tenor of the Camel target increases towards the southwest. Within the Camel target, RAB sample values from the top of bedrock range from 3,274 ppm copper (0.32% copper) to 300 ppm copper.

In addition, these recent results from the Area 5 RAB drilling have outlined a zone of anomalous copper values southwest of Alpha's historical Anagulu discovery for some 500 metres in an area of only limited RC and core drilling. This newly defined Discovery zone target from the RAB drilling has a width of up to 250 metres, with top of bedrock copper values ranging from 1,406 ppm to 300 ppm copper. This new data will be integrated into Alpha's surface mapping and drilling database to determine if this target motivates more drill testing of the mapped quartz-eye diorite unit known to host most of the currently known copper-gold mineralization at Anagulu.

Figure 2 illustrates how the Camel target zone has been generated to date by the RAB program to over more than 1 kilometre, with in general, increasing near-surface, width and copper grade towards the southwest. It is also importantly noted that the Camel target zone appears to have an overall higher copper grade than the comparable RAB drilled area of the Discovery target zone (see Figure 1).

Figure 1: Map Showing New and Expanded RAB Drilling Target Zones, Termite Mound Sampling Results, with Previous Reported Selected Drilling Results.

To view an enhanced version of this graphic, please visit:
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Figure 1 notes: RAB drill sampling results reported are from representative material from the deepest two, one-metre, samples of each RAB drill hole which are analysed by pXRF with the peak copper value, one metre sample reported, and as this drilling method is intended to identify and define near-surface copper anomalies its relationship to the targets true thickness is unknown at this time. Previously reported results in Alpha Exploration news releases; Alpha Expands the Footprint of the Anagulu Copper-Gold Porphyry and New Camel Target Zone Measures at Least 1 x 0.25km, April, 2026, Alpha Exploration announces final 2024 drilling results at Aburna Gold and Anagulu Gold Copper prospects and updates exploration plans for 2025, March 21^st 2025., Alpha Exploration Reports 95m of 1.30 g/t AuEq from Anagulu Porphyry Gold-Copper Prospect, Kerkasha Project Eritrea, December 9, 2021, and NI 43-101 Technical Report for the Kerkasha Project, Eritrea, RSC Mining & Mineral Exploration, 21 June 2021.

Figure 2: Composite Cross Section View Looking Northeast Through lines SS-23, SS-40 and SS-45 Showing Expanded and Defined Camel Target in Context of Previously Reported Drill Hole Results.

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Figure 2 notes: RAB drill sampling results reported are from representative material from the deepest two, one-metre, samples of each RAB drill hole which are analysed by pXRF with the peak copper value, one metre sample reported, and as this drilling method is intended to identify and define near-surface copper anomalies its relationship to the targets true thickness is unknown at this time. Previously reported results in Alpha Exploration news releases; Previously reported results in Alpha Exploration news releases; Alpha Expands the Footprint of the Anagulu Copper-Gold Porphyry and New Camel Target Zone Measures at Least 1 x 0.25km, April, 2026, Alpha Expands Anagulu Porphyry Mineralisation with Drill Intercept of 120 metres grading 0.30% Copper and 0.47 g/t Gold, February 24, 2026, Alpha Exploration announces final 2024 drilling results at Aburna Gold and Anagulu Gold Copper prospects and updates exploration plans for 2025, March 21^st 2025., Alpha Exploration Reports 95m of 1.30 g/t AuEq from Anagulu Porphyry Gold-Copper Prospect, Kerkasha Project Eritrea, December 9, 2021, and NI 43-101 Technical Report for the Kerkasha Project, Eritrea, RSC Mining & Mineral Exploration, 21 June 2021.

Table 1: Selected RAB Drilling Sample Results Area 3

Table 2: Selected RAB Drilling Sample Results Area 5

QUALITY ASSURANCE AND QUALITY CONTROL

The RAB drilling and related results were managed by Alpha Exploration's field team with the field operations conducted in-line with the standard operating procedures implemented at this project. Representative material of bedrock and weathered bedrock for the deepest two, one-metre, samples of each RAB drill hole, were screened to provide approximately 200 grams ("g") of minus 75-micron material. Termite mound samples are collected and processed in-line with the standard operating procedures implemented at this project. Four sub-samples of each mound are sampled collecting approximately a 2kg sample. This sample is gently pulverized to break up any soil clods and sieved to -75um to obtain a uniform representative sample. For the RAB and termite mound samples an aliquot is collected using a scoop and a sub-sample analysed with QA/QC samples inserted every 25^th field sample analysed by Portable X-ray Fluorescence ("pXRF") within the Company's field laboratory in Asmara, Eritrea. The pXRF is routinely monitored by the QA/QC sample results to check its calibration. The pXRF instrument used is an Olympus Vanta M-series VMR with a 50Kv, 0.2mA tube.

Table 3: RAB Drillhole ID, Azimuth, Dip, End of Hole Depth, Collar Coordinates

QUALIFIED PERSON

All scientific and technical information in this press release, including the results of the Aburna drill program and how these results relate to the ongoing exploration at the Kerkasha Project has been reviewed, verified, and approved by John Wilton CGeol FGS, CEO & Director of Alpha and a "qualified person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

ABOUT ALPHA

Alpha (TSXV: ALEX) is an exploration company that is rapidly advancing a number of important gold and base metal discoveries it has made across the 100% owned, 514 km2 Kerkasha Project in Eritrea.

The Aburna Gold Prospect is an exciting new gold discovery where recent drilling has confirmed a high-grade mineralized system, with grades including 18m @ 15.33 g/t Au, 16 m @ 14.07 g/t Au, 9 m @ 10 g/t Au and 23 m @ 6.74 g/t Au.

The Anagulu Gold-Copper prospect with recent drilling intersections of 108 m @ 1.24 g/t Au and 0.60% Cu including 49 m @ 2.42 g/t Au and 1.10% Cu, and 109 m @ 0.79 g/t Au and 0.35 % Cu within a porphyry unit drilled over 2kms along trend, and with an overall and expanding exploration target footprint of some 4 by 2kms.

The Company is managed by a group of highly experienced and successful mining and exploration professionals with long track records of establishing, building and returning value to stakeholders from a number of world class gold and base metal discoveries in Eritrea and across the wider Arabian Nubian Shield.

Cautionary Notes

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. 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.

Forward-Looking Statements

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 future dataset interpretations, sampling, plans for its projects (including the Anagulu prospect), surveys related to Alpha's assets, and the Company's drilling program. 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); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to exploration activities; those factors discussed under the heading "Risk Factors" in the Final Prospectus; and other risk factors as detailed from time to time. Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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