VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2012) - Alphamin Resources Corp. (AFM.V - News) (the "Company" or "Alphamin") is pleased to announce that it has entered into an agreement to acquire two exploration permits surrounding the historic Manono Mine in Katanga Province in the Democratic Republic of the Congo ("DRC"). To acquire the permits, Alphamin will pay US$2 million in cash and issue 6,100,000 shares. The transaction is subject to various conditions including the approval of the TSX Venture Exchange.
The Manono Mine is the largest pegmatite hosted deposit of cassiterite, columbo-tantalite and lithium mined to date. The pegmatite is exposed over 14 kilometres and is open to the northeast and southwest with good potential of continuing onto the newly acquired tenements. Historically 180,000 tonnes of cassiterite (tin oxide) were mined during the Belgian colonial era. The mineralogy of the deposit is unique due to the high tonnages of spodumene which contains up to 2% lithium oxide and columbo-tantalite which made up 5% of the tin concentrate.
Lars Pearl, MAIG, a qualified person under National Instrument 43-101, has verified the technical data disclosed in this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Cosme Maria Beccar Varela, President and CEO
Certain statements in this news release are "forward-looking" within the meaning of Canadian securities legislation. They include statements about the potential of mineralization from adjoining properties continuing onto the ground the Company is acquiring. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of Management that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, among others, conclusions or realization of mineral resources, the actual results of exploration activities, possible variations in ore grade or recovery rates, risks relating to additional funding requirements, political and foreign risks, government regulation as well as other risk factors set out in the Company's disclosure documents which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.
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.