The work of the predecessor companies of Areva included extensive exploration of this sector of the Carswell structure and patches of uraniferous boulders were located at this range of distance from significant radon anomalies lying on the Alpha - Acme ground immediately east of the main mining area and also along the margin of the Carswell structure.
The first work in 2013 will resample the radon areas defined by the earlier work and confirm those anomalies with current data. This will be accompanied by a search for radioactive boulders and debris from a potential up-ice source of the uranium in a similar distribution as indicated from known mineralization at the mined areas of Cluff Lake.
Alpha Minerals has an 80% interest in the 2416 hectare (5,900 acres) Skull Lake project and a 20% carried interest remains with Acme Resources Inc (ARI). The carried interest remains until Alpha shall complete a positive feasibility study, at which time Acme may elect to contribute to the capital and start up cost for putting the property into production or may fall back to a 2% gross overriding royalty for uranium and precious stones and a 2% NSR for other metals and minerals. Alpha is the Operator of the Joint Venture.
The property is accessible by road, with primary access from all-weather Highway 955 which runs north to the nearby Cluff Lake mine site and passes through the UEX-Areva Shea Creek property uranium discoveries and the Alpha Minerals Patterson Lake South project, that are currently under active exploration and development.
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 Minerals Inc, by Garrett Ainsworth P.Geo., Vice President Exploration, a qualified person.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth, President, CEO and Director
Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for further and updated information.
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 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.
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 release.
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