VANCOUVER, BRITISH COLUMBIA--(Marketwire -06/22/12)- NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Alphamin Resources Corp. (AFM.V) (the "Company" or "Alphamin") is pleased to announce that it has received all mandatory permits from Authority of Civil Aviation ("AAC") allowing the contracted helicopter to operate throughout the North Kivu Province, Democratic Republic of the Congo ("DRC"). The Company now plans to commence with a 2,800m diamond drilling programme to test tin mineralisation below the extensive artisanal workings on Bisie Tin Project ("Bisie"). Tin was discovered at Bisie in 2004 and was mined extensively by artisanal miners up to 2010 when the DRC Government introduced restrictions on tin sales in the eastern DRC causing an exodus from the area of all involved in the informal mining operations.
The Bisie tin deposit is located within the Walikale District roughly 140km west-northwest of the regional centre of Goma in one of the world's principal Precambrian orogenic-metallogenic provinces. Tin mineralization is within a set of north-south trending quartz/cassiterite veins in schists exposed over 1km along a ridge which transgresses the project for more than 9km. Accredited ACME Laboratories, Vancouver, Canada reported high grade tin results of 50-95% SnO2 (cassiterite) for Bisie ore and significant grades in surrounding host rock confirming potential for a mineralized halo surrounding high grade veins. The mineralization at Bisie was determined to be unique from other known tin deposits due to its high grade and presence of hematite and rare earth elements up to 0.5%. These potential quantities and grades are conceptual in nature. Insufficient exploration has been done to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Rock Drilling Congo (DRC) SPRL has been contracted and is expected to be on site before the end of the quarter. The Company will also initiate a soil sampling programme to better define the extent of tin mineralization along the 9km ridge.
Lars M. 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 grade, estimated recoveries, estimated production and proposed strategies and objectives. 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, fluctuations in the price of metals, risks relating to additional funding requirements, political and foreign risks, production risks, environmental regulation and liability, 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.
Information Relating to the United States
This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements.
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