Alphamin Announces Priv Ate Placement

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News Release 2013-16

ALPHAMIN ANNOUNCES PRIVATE PLACEMENT

VANCOUVER, CANADA – October 29, 2013 – Alphamin Resources Corp. (AFM: TSXV, “Alphamin” or the “Company”) is pleased to announce that, further to the Company’s news release of October 7, 2013 announcing the Company’s private placement, the number of units has been increased from 16,666,666 units to 17,083,333 Units at $0.12 per Unit in the capital stock of the Company, thereby increasing the amount raised from $2,000,000 to $2,050,000. Each Unit will consist of one common share of the Company and one warrant, each warrant entitling the holder to purchase one additional common share at a price of $0.15 until July 7, 2014. There will not be a finder’s fee payable on the private placement. The private placement is subject to TSX Venture Exchange approval.

ON BEHALF OF THE BOARD OF DIRECTORS

“Cosme M. Beccar Varela”

Cosme M. Beccar Varela, President Chief Executive Officer

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.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.