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Mpama South inferred mineral resource estimate records 46% increase

Mpama South Mineral Resource estimate has recorded a 46% increase. Alphamin Resources Corp.,a producer of 4% of the world’s mined tin1 from its high-grade operation in the Democratic Republic of Congo, confirmed the reports and said the updated Mineral Resource for Mpama South follows two months after the previous update announced on 29 March 2022 and three months after the Maiden Mineral Resource announced 7th March 2022.

The update is based on further receipt of assays for another 22 extensional drillholes completed subsequent to the previous estimate which was based on 102 drillholes. Following the receipt of assays for the additional 22 drillholes, an updated Mineral Resource Estimate (MRE) for the Mpama South project was completed.

The MRE now includes results from 124 drillholes as well as 6 drillholes in the Wedge area from the earlier drilling to 2015. The MRE was estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Best Practice Guidelines (2019) and is reported in accordance with the 2014 CIM Definition Standards.

Inferred categories

The Mineral Resource is classified into the Indicated and Inferred categories and is reported at a base case tin grade of 1.0%, which satisfies reasonable prospects for economic extraction. Mpama South Inferred Resources increased by 46% to 4.99Mt.

Mineral Resources that are not Mineral Reserves do not have a demonstrated economic viability and require advanced studies and economic analysis to prove their viability for extraction. The MRE for Mpama South does not include a substantial quantity of subsequent drilling containing characteristic high grade visual cassiterite. The majority of these are part of an in-fill drilling campaign targeting conversion of Inferred Resources to Indicated Resource confidence. The infill campaign commenced in March 2022 and will be completed by July 2022. An updated MRE is expected to be announced in Q3 2022.

Extensional drilling down dip and in the shallower northern portion of Mpama South will re-commence in June 2022 to carry on extending known mineralisation which is still open in multiple directions. The Company targets releasing expanded Mpama South MRE updates throughout the remainder of the drilling phases in 2022 as assays are received.

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