ALPHAMIN ANNOUNCES THE RECEPTION OF THE SUBSIDIARY’S PRODUCTS

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MAURITIUS, December 23, 2021 (GLOBE NEWSWIRE) – Alphamin Resources Corp. (AFM: TSXV, APH: JSE AltX) (“Alphamin” or the “Company”), a producer of 4% of the tin mined in the world1 of its high-grade mining in the Democratic Republic of the Congo, is pleased to announce that its 84.14% -owned operating subsidiary, Alphamin Bisie Mining SA (“ABM”), has finalized a distribution to shareholders of $ 35 million. of US dollars. The Company received approximately US $ 29.5 million from this distribution.

In addition, due to the recent exercises of warrants issued by the Company in April 2019 and which expire on April 8, 2022, the Company has now received total proceeds of approximately C $ 20.2 million from the year. of these warrants. The warrants are exercisable at a price of C $ 0.30 per share and if all remaining outstanding warrants are exercised prior to expiration, additional proceeds of approximately C $ 2.8 million will be received.

Alphamin’s current consolidated cash position is approximately US $ 83 million. The Company will assess the group’s cash position at the end of the financial year December 2021 with a view to balancing capital allocations between growth initiatives, ABM 2021 corporate taxes due in April 2022 and a first Alphamin dividend.

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FOR MORE INFORMATION PLEASE CONTACT:

Maritz smith
CEO
Alphamin Resources Corp.
Phone. : +230 269 4166
Email: [email protected]

ATTENTION REGARDING FORWARD-LOOKING STATEMENTS

Information contained in this press release that does not constitute a statement of historical facts constitutes forward-looking information. Forward-looking statements contained in this document include, without limitation, statements relating to at the expected future exercise of warrants and receipt of cash proceeds thereof and the potential of a first dividend. Forward-looking statements are based on what management believes to be reasonable assumptions at the time such statements are made. are made. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements. Although Alphamin has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or planned. Factors that can cause real the results differ significantly from the expected results described in theforward-looking statements include, but are not limited to: youuncertainties associated with Alphamin’s resource and reserve estimates, uncertainties about estimates of expected extracted tin contents, performance and recovery of treatment plants, uncertainties regarding global tin supply and demand and market and selling prices, uncertainties regarding social, community and environmental impacts, uninterrupted access to the required infrastructure and third-party service providers, unfavorable political events, impacts of the global Covid-19 pandemic on mining operations and commodity prices as well as the risk factors set out in the company’s management report and other information documents available under the company’s profile at www.sedar.com. The forward-looking statements contained herein are made as of the date of this press release and Alphamin disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, unless required by applicable securities. laws.

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.

1Data obtained from the International Tin Association Tin Industry Review 2020


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