Alpha Completes Enlarged 2026 Drilling Program at Aburna Gold Project

Calgary, Alberta--(Newsfile Corp. - October 22, 2026) - Alpha Exploration Ltd.(TSXV: ALEX)("Alpha" or the "Company")is pleased to announce it has completed the 2026 drilling program at the Aburna gold project with a total of 8,910 metres of drilling, 2,410 metres more than the originally planned 6,500 metres program. In addition, 1,224 metres of shallow rotary air blast ("RAB") was completed to sample top-of-bedrock at the Obok prospect in certain targeted areas of transported soil cover where conventional soil sampling is ineffective.

To date two batches of laboratory results have been received and reported representing a total of 4,495 metres of reverse circulation ("RC") and core drilling. These previously released results are mainly from the Northeast prospect expansion target area and the initial testing of new gold exploration targets. All the drilling is located within the highly prospective but under-explored Aburna corridor. In this gold corridor, Alpha has already discovered the Hill 52, Central, Northeast and Obok prospects, which host numerous shallow high-grade gold intercepts.

HIGHLIGHTS from the 2026 ABURNA NORTHEAST PROSPECT EXPANSION AREA TO DATE

• ABD031: 19.00 m grading 3.18 grams per tonnes ("g/t") gold
  • Including: 7.00 m grading 7.09 g/t gold
• ABD033: 12.00 m grading 1.53 g/t gold
  • Including: 8.00 m grading 2.22 g/t gold
• ABD034: 13.00 m grading 1.53 g/t gold
  • Including: 6.00 m grading 3.01 g/t gold
• These drill intercepts have increased the footprint of the gold mineralization at the Northeast prospect and indicate its strong potential for additional expansion

HIGHLIGHTS from the 2026 GREATER ABURNA CORRIDOR, EXPLORATION AREA DRILLING RESULTS TO DATE

• ABD029: 31.00 m grading 1.12 g/t gold at new Obok prospect
  • Including: 12.00 m grading 2.09 g/t gold
• ABR202: 6.00 m grading 2.81 g/t gold at EER target
• ABR208: 13.00 m grading 0.79 g/t gold at EER target
• ABR197: 6.00 m grading 0.53 g/t gold at SW target
• ABR198: 4.00 m grading 0.92 g/t gold at SW target
• ABR213: 8.00 m grading 0.64 g/t gold at FSW target
  • Including: 4.00 m grading 0.81 g/t gold
• ABD029 intercept between 60 to 85 metres vertical depth, coupled with other geological data and interpretation, advances this former exploration target to key prospect status.
• EER and Southwest ("SW") targets have returned multiple gold intercepts, demonstrating the potential to expand the Hill 52 prospect gold mineralization
• Far Southwest ("FSW") target returns gold mineralized intercept some 1.7 kilometres ("km") along trend from Hill 52 prospect

These previously reported results are referenced in Alpha Exploration news releases detailed in footnotes of Figure 1. Based upon current data and interpretation it is estimated true widths range between 70% and 90% of the drilled intersections.

The Aburna Gold Project is located within Alpha's 100% owned, 514 km² Kerkasha Project located in Eritrea. To date, only approximately 20 percent of the Aburna corridor, as defined by gold-in-soil anomalies, reconnaissance RAB drilling in areas of immature, transported soil, with permissive geology and structure, has been tested by significant drilling. This fact linked with these drilling results emphasises the under-explored and highly prospective nature of this area. Alpha is also exploring the large target footprint Anagulu Copper-Gold Porphyry Project some 7 kilometres south of Aburna, with these projects being two of three significant discoveries made by the Alpha team on the Kerkasha licence.

John Wilton, CEO of Alpha, stated: "Our in-country Alpha exploration team have delivered an efficient and safely completed 2026 drilling program exceeding our original planning by 2,410 metres. This additional metreage was motivated by the initial results and improved geological understanding with interpretation of the extensive, generally shallow depth, Aburna gold mineralization. To date in 2026 the two batches of previously reported drill results available are interpreted to have expanded the footprint of the Northeast and Hill52 prospects and elevated the former Obok target to a key prospect status when coupled with other geological information and interpretation. We expect to receive and release further batches of drill results in the coming weeks."

ABURNA GOLD PROJECT

Figure 1 illustrates the recently reported results, available to date, from the 2026 Aburna gold project drilling program combined with other previously reported results from Alpha's exploration campaigns (see Figure 1 footnotes for references and details). The recent drilling data indicates the potential to further expand the gold mineralization footprint of the Northeast, and Hill52 prospects along with the new Obok prospect. It also demonstrates the remaining relatively under explored nature of the greater Aburna corridor area with its compelling prospectivity for additional gold discoveries.

Figure 1: Aburna Gold Project: Northeast Prospect, Expansion Target Area and Greater Aburna Corridor Drilling Results to Date (Oct 2026) with other Previously Reported Drilled Intercepts

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8361/320375_510add5a54f7f934_002full.jpg

Figure 1 notes: Based upon current data and interpretation it is estimated true widths range between 70% and 90% of the drilled intersections. These previously reported results in Alpha Exploration news releases; Alpha Drills 7 m Grading 7.09 g/t Gold within 19 m Grading 3.18 g/t Gold at Northeast Prospect, Aburna Gold Project, October 6, 2026, Alpha Drills 12 m Grading 2.09 g/t Gold within 31 m Grading 1.12 g/t Gold at New Aburna Corridor Obok Prospect, September 21, 2026, Alpha Announces Second Batch of 2025 Drill Results, Including 10 metres grading 3.12 g/t gold, from the Aburna Gold Project, February 04, 2026, Alpha Exploration Announces CEO Appointment, and Expanded Gold Prospect Targets with RAB Drilling Results, October 21, 2025, Alpha Exploration Announces New Gold Discovery at Aburna with Drill Intercepts 15m of 5.85 g/t Gold & 10m of 5.24 g/t Gold, May 3, 2022, Alpha Exploration Announces More Drilling Results from Aburna with Intercept of 22m of 4.50 g/t Gold, May 25, 2022, Alpha Exploration Reports Aburna Gold Latest Drill & Channel Sampling Results 13m @ 4.24 g/t Au, 11m @ 3.99 g/t Au, 6m @ 4.97 g/t Au, May 24, 2024, Alpha Exploration Reports Drill Results from Aburna Gold Prospect: Includes 9m @ 10 g/t Gold, November 14, 2023, Alpha Exploration Announces More Positive Drilling Results from Aburna, January 30, 2024, Alpha Exploration Announces New Drill Results from the Aburna Gold District Including 29 metres Averaging 2.89 g/t Gold at Hill 52 Prospect, and 8 Metres Averaging 3.77 g/t Gold at the Northeast Prospect, November, 2024.

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 have 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 18 m @ 15.33 g/t Au, 16 m @ 14.07 g/t Au, 9 m @ 10.00 g/t Au and 23 m @ 6.74 g/t Au.

The Anagulu Gold-Copper Prospect, with recent drill 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 2 km along trend, and with an overall and expanding exploration target footprint of some 4 by 2 km.

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 gold and base metal discoveries in Eritrea, across the wider Arabian-Nubian Shield, and in other regions of Africa.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320375

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