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Alpha Exploration Inc. – Uranium and Gold in North America

Alpha Exploration

Overview

Alpha Exploration (TSXV:AEX) is a junior mineral exploration company with strategically selected uranium and gold properties in North America. The Company is continuing to build on the success of the recent high grade, near surface Uranium discovery at the Patterson Lake South Property in the Athabasca Basin, which was sold to Fission Uranium in December 2013.

Alpha Exploration is currently focused on its properties in the Athabasca Basin, which include Cluff Lake, Hook, and Carpenter Lake. Alpha has a number of joint venture agreements in the Athabasca Basin, which include; Rio Tinto on the north side of the past producing Cluff Lake Mine, and Noka Resources at Carpenter Lake.

Aside from its uranium projects, Alpha Exploration also owns the Mikwam Gold Property in Ontario and the Donna Gold Property in British Columbia. In 2013, Alpha entered into a mineral property option agreement with Interconnect Ventures (IVC) for the Donna Gold Property.

Investment Highlights

  • Operating in geological settings with a proven record of high-grade uranium discoveries hosted by miner friendly jurisdiction.
  • Proven, award winning leadership with a track record of success
  • Continues with grassroots prospect generation model the lead to the discovery at Patterson Lake South
  • Leveraging significant knowledge base, technology and experience
  • Strong share structure

Key Properties

Alpha Exploration’s Athabasca Basin projects totals over 120,000 acres in the world’s most important uranium producing district, which accounts for nearly 20% of global primary uranium supply. Ten of the world’s top 15 highest-grade uranium deposits lie in the Athabasca Basin.

Cluff Lake

AEX_Cluff_Lake

The Cluff Lake properties cover a collective total of 41,380 acres and adjoin the former Cluff Lake Mine which produced 63 million pounds of U3O8 at a grade of 0.93% through a combination of open pit (3 mines) and underground mines (4 mines). The Cluff property are also situated just north of UEX / AREVA’s Shea Creek Project.

Alpha Exploration has 3 partners in the Cluff Lake area, which include:

  • Rio Tinto (Bridle lake project) – Alpha Exploration and Rio Tinto have a 50/50 Joint Venture on the north side of the Cluff Lake Mine lease.
  • Logan Resources Ltd. (TSXV:LGR) (Gorilla lake project) ACME (TSXV:ARI) (Middle lake project), with Alpha having an 80% interest in the JV projects.

Some Project Highlights:

  • CLU-07: 7.0m of 0.17% U3O8 (153.0 to 160.0m) including 0.82% U3O8 over 1.0 m 2nd zone: 2.0m of 0.20% U3O8 (175.0 to 177.0m)
  • CLU-01: 1.5m of 0.46% U3O8 (174.0 to 175.5M)
  • CAR-425: 2.3m of 0.85% U3O8

AEX_MiddleLake

Hook Lake

AEX_Hook_Lake small

Hook (100% owned by Alpha) covers approximately 32,000 acres and is located about 15 km northeast of the PLS discovery (By Alpha & Fission) area, and 55 km south to southeast from the former Cluff Lake uranium mine, in the southwestern portion of the Athabasca Basin. It covers the northern extension of Patterson and Derkson conductor corridors, and adjoins Purepoint Uranium (JV with Cameco & Areva) and NexGen Energy properties to the south, who have both also had recent discoveries on their properties.

Past exploration includes Geotem airborne ground geophysical surveying, geochemical sampling and diamond drilling totalling 2,404 metres in four holes.

Seventeen Geotem electromagnetic conductors with a total strike length of eighty kilometers have been discovered on Hook Project property. Three of these conductors have been drill tested.

Alpha Exploration Inc. has entered into an option agreement with Noka Resources Inc. to acquire a 60-per-cent interest in Noka’s Carpenter Lake property situated along the Cable Bay shear zone straddling the south-central rim of the Athabasca basin in Northern Saskatchewan.

The property comprises a total of 20,637 hectares within five contiguous mineral dispositions.

Gold Properties

 

Donna Gold Property
The Donna Gold Property, 100% owned by Alpha Exploration, lies centrally within one of the largest clusters of anomalous values in stream sediments for gold and its typical pathfinders, as identified in the regional geochemical surveys carried out in a joint federal and provincial program completed in the last three decades.

In 2013, Alpha entered into an letter of intent and mineral property option agreement with Interconnect Ventures under which it granted IVC an option to acquire up to a 70-per-cent interest in the Donna property, subject to a 2 percent net smelter royalty payable to Alpha.

Mikwam Gold Property
The Mikwam Gold Property is located North East of Timmins, Ontario on the Casa Beradi Defermation Zone, an area of historical gold and other precious metals mineralization. Newmont and other companies have previously invested approximately over $12 million in exploring the property.

The property is near Hecla Mining’s producing Casa Berardi Gold Mine, and is on trend with the area. Two other companies, Noranda-Falconbridge and Lakes Shore Gold, are also exploring claims near Mikwam.

To learn more about Alpha Exploration’s Gold Properties, click here.

Alpha History

Alpha Minerals and its Patterson Lake South Project (PLS) was acquired by its joint venture partner Fission Uranium in December 2013. PLS is a new high-grade shallow-depth uranium discovery just outside the Athabasca Basin of northern Saskatchewan, Canada. Alpha Minerals Inc. and Fission Uranium Corp. formed a 50/50 Patterson Lake South Joint Venture that included claims that straddle the southwestern margin of the Athabasca Basin. The joint venture included 17 claims (approximately 25,450 hectares). The Patterson Lake South (PLS) property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine (greater than 60 million pounds of U3O8 produced), and passes through the nearby UEX-Areva Shea Creek discoveries located 50 kilometres to the north, currently under active exploration and development.

Summary

Alpha Exploration Inc. is continuing to build on the success of Patterson Lake South, a significant uranium discovery in the Athabasca Basin of Saskatchewan. Alpha’s immediate focus is on the Cluff Lake, Carpenter Lake, and Hook properties in the Athabasca Basin.

Alpha’s management team is second to none, with Ben Ainsworth, President and CEO; Dr. Michael Gunning, Chairman; and Garrett Ainsworth, VP Exploration — the same team that built Alpha Minerals into one of Canada’s leading uranium exploration and development companies.

Management

Benjamin Ainsworth, MA, P. Eng – President and CEO

Mr. Ainsworth earned an honours degree in geology from Oxford in 1962. In 1965, he joined Placer Development, Vancouver, after working in base metal exploration in Eire and completing service as a Development Geologist with the Ghana Geological Survey. After over 20 years service with Placer in Canadian and international projects, he formed a mineral exploration consultancy in 1987 and continues in that business.

Professional Highlights:

  • 1972: Discovery and early development for Placer Development of Howards Pass now being developed by Selwyn Resources as the largest zinc and the largest lead deposits in the world.
  • 1991-94: Development of Huckleberry Mine (now a porphyry copper producer) for New Canamin, production started by Princeton Mining in 1997 and still mining.
  • 1995: Discovery of the first reported marine alluvial diamonds off Sierra Leone.
  • 1994-96: Property selection for Cascadia Metals and Chemicals Corporation of their Mongolian Sharingol (gold) Property, who developed and sold a large gold resource to Cameco-Centerra.
  • 2005: Joined Board of Hathor Exploration, acting as V.P. Exploration during the discovery and development of the Roughrider uranium deposit – a Rio Tinto take-over success.
  • 2005-13: A member of the Alpha Minerals Board (originally VP Exploration, then named President and CEO). Oversaw the successful acquisition (Plan of Arrangement) of Alpha Minerals by Fission Uranium.

2013 AMEBC recipient of the Colin Spence Award (For Excellence in Global Mineral Exploration) in recognition of his efforts which led to the discovery of the high-grade uranium mineralized system at Patterson Lake South project in the Athabasca Basin, Saskatchewan.

Dr. Michael Gunning, BSc (Hons), MSc, PhD. – Director, Lead Technical Advisor
Dr Gunning attained an Honours BSc degree in geology from UBC, followed by a time in the junior gold exploration sector, and onto mineral deposit research and regional mapping with the British Columbia Geological Survey and Geological Survey of Canada, all towards completing MSc and PhD degrees at the University of Western Ontario. Following work with Teck Resources in base metal exploration in North and South America, he joined the Saskatchewan Geology survey as lead Mineral Deposits Research Geologist. Dr. Gunning is extensively published, has presented at numerous technical and investor conferences, and is past-President of the SEG Student Chapter at Western, and Geological Society of Saskatchewan.

Dr. Gunning brings a very diverse and valuable range of experience and proven leadership to Alpha from his 25 years in the mineral exploration and geological research sectors. Most recently as former President and CEO of Hathor Exploration Ltd, he successfully transitioned the Company from the grass roots discovery to the definition of a uranium deposit with truly world class attributes, and steered it’s eventual sale to Rio Tinto Plc., a leading producer in the global uranium sector.

2012 AMEBC recipient of the Colin Spence Award (For Excellence in Global Mineral Exploration) in recognized for the discovery, resource development and expansion of the Roughrider uranium deposit in the Athabasca Basin, Saskatchewan.

Garrett Ainsworth, PGeo BC – VP Exploration

Garrett Ainsworth is a professional geologist and the Vice President Exploration for Alpha Exploration Inc. He has a Diploma of Technology in Mining and Bachelor of Technology in Environmental Engineering with honours from BCIT, as well as a Bachelor of Science in Geology with honours from Birkbeck, University of London.

Mr. Ainsworth was instrumental in the successful progress of the Patterson Lake South (PLS) project, where he was the Project Manager (PM) since its inception in 2007. During his tenure as PM of PLS he oversaw the staking of new claims, the discovery of the boulder field, the initial high-grade uranium drill hole discovery (R00E zone), and the discovery of the high grade, near surface, uranium zones R390E and R780E during the winter 2013 drill program. Apart from being involved with numerous uranium projects in the Athabasca Basin, Saskatchewan, he also obtained experience as a field geologist on gold projects in British Columbia, Nevada, and Mexico; and a diamond project in West Africa. Mr. Ainsworth worked as an environmental consultant on a variety of industrial and mining projects from 2002 to 2007.

2013 AMEBC recipient of the Colin Spence Award (For Excellence in Global Mineral Exploration) in recognition of his efforts which led to the discovery of the high-grade uranium mineralized system at Patterson Lake South project in the Athabasca Basin, Saskatchewan.

Kurt Bordian, CGA – CFO and Secretary
Mr. Bordian is a designated Certified General Accountant in Canada, and holds a Bachelor of Commerce (Honors) Degree from the University of Manitoba. He has worked primarily in the mineral exploration and oil and gas industries over the past 10 years, and has held the position of Controller with three public companies exploring and operating in the Solomon Islands, Ghana, Tunisia and Western Canada. Mr. Bordian is also active with other public entities as Operations Manager and Corporate Secretary and is a current Director of Fission Uranium Corp.

Warren Stanyer – Director
Mr. Stanyer has over seventeen years of experience in the mineral exploration industry and has served as; a consultant, Corporate Secretary, Officer, Director, President and CEO to a number of public mineral exploration companies including Pioneer Metals Corporation (“Pioneer”), UEX Corporation (“UEX”), and Northern Continental Resources Inc. (“NCR”).

Mr. Stanyer began his career with Pioneer which was a Gold, Base Metal and Uranium exploration company with properties in New Mexico, BC, Manitoba and Saskatchewan. In 1999, Pioneer signed an option agreement with Cameco Corporation, which in 2002 led to the formation of the pure uranium exploration company, UEX. Mr. Stanyer held the positions of Corporate Secretary and Vice President, Corporate Development in both Pioneer and UEX. In 2006, Barrick Gold Corporation acquired Pioneer and Mr. Stanyer became a consultant during the transition.

After leaving UEX in 2007, Mr. Stanyer began consulting for NCR, a Uranium exploration company and was appointed President and CEO in 2008. Hathor Exploration Limited made a successful offer in July 2009 to take over NCR, in competition with Denison Mines. He acted as Chairman of Guyana Frontier Mining Corp. (GYG-TSX.V) from December 2010, and as President and CEO from September 2011 to December 2012. Currently Mr. Stanyer serves as President, CEO and a Director of Fission Uranium (FCU-TSX.V), Nevada Sunrise Gold Corp. (NEV-TSX.V), and of New Moon Minerals Corporation (a private mineral exploration company).

James Yates – Director
Mr. Yates has over twenty years experience in the mineral exploration industry and has served as a director and officer of several public mining companies. From 1982 to 1988 he was the Founder, President, and Director of Hycroft Resources who successfully brought the Crofoot Mine into production, a gold heap leach operation with annual production of 100,000 ounces of gold. Mr. Yates has overseen the corporate management and financing of a number of projects in North America including American Bullion Minerals, Zappa Resources, and Jersey Goldfields, having raised in excess of $20million for mineral exploration development.

Charles Roy, P.Eng. P.Geo – Director

Mr. Roy earned a BSc. in geology from Acadia University Nova Scotia in 1972. For the next seven years Mr. Roy was employed by the Mining Engineering and Geological Consulting firm of David S. Robertson and Associates. Work included fluorspar exploration in Newfoundland, uranium exploration in northern Michigan, USA and a uranium and coal evaluation study for the Kingdom of Lesotho, southern Africa. In 1979, Mr. Roy joined the Saskatchewan Mining Development Corporation as a Project Geologist in Uranium City thus beginning a career with Cameco Corporation that would span 33 years. In 1988, Mr. Roy transferred to Cameco Gold and was involved in establishing an exploration office in Reno Nevada and managing that office from 1991-1994. Mr. Roy returned to uranium exploration in 1994 and over the next 18 years managed and supervised both greenfield and brownfield exploration programs in the Athabasca Basin. During this period Mr. Roy over saw exploration teams having annual budgets of up to $35 million. These teams discovered and delineated seven significant uranium deposits including Millennium. Mr. Roy has evaluated uranium opportunities world-wide but his expertise and knowledge lies in the unconformity model type found in the Athabasca Basin. The last two year’s spent with Cameco, Mr. Roy was Director of Exploration Agreements and worked closely with Corporate Development and Legal Departments to negotiate new exploration opportunities for Cameco and help to consolidate and streamline the worldwide Exploration portfolio. Following Cameco Mr. Roy became a Director and Technical Advisor of Alpha Minerals Inc. Mr. Roy is a registered Professional Engineer and Geoscientist in Saskatchewan.

Alan R. Graham – Advisor to the Board
Mr. Graham brings to Alpha extensive expertise in the down-stream nuclear fuel cycle and regulatory sectors. He was appointed as a member of the former Atomic Energy Control Board in 1999, and subsequently was appointed a member of the Canadian Nuclear Safety Commission (CNSC), where he served as a commissioner for twelve years. Mr. Graham is a former Minister of Natural Resources and Energy and served as Deputy Premier for the Province of New Brunswick, and served as an MLA for that Province from 1967 until 1998. Mr. Graham was involved in the permitting and oversight of nearly all of the producing uranium mines in the Athabasca Basin. Mr Graham is a past director of the Nature Conservancy of Canada and has served on public and private boards, both in Canada and internationally that relate to the resource and manufacturing sector. He is also on several charity boards, like the Atlantic Salmon Federation and The Miramichi Uganda Foundation Inc.

Robert Meister – Corporate Communications/Development
Mr. Meister has nearly 20 years of experience working with public and private companies and has been specializing in the resource sector since 2005. He is a graduate of British Columbia Institute of Technology (BCIT) in Marketing Management and also participated in BCIT’s Exploration and Mining for Investment course. His experience and entrepreneurial nature has allowed him to manage and develop numerous business and management activities including all aspects of Marketing and Corporate Communications at institutional and retail levels, and assisting in raising capital at all phases of corporate development.