C/o ADANSONIA MANAGEMENT SERVICES LIMITED, For m ore media information or interview PERRIERI OFFICE SUITES, C2-302, Level 3, Office Block C, requests, please contact the Stone team
6830597 v4
NEWS RELEASE
C/o ADANSONIA MANAGEMENT SERVICES LIMITED, For m ore media information or interview
PERRIERI OFFICE SUITES, C2-302, Level 3, Office Block C, requests, please contact the Stone team
La Croisette, Grand Baie 30517, Mauritius on [email protected] or +2711 4470168
The above media statement and accompanying material for media use are issued by
ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR F OR PUBLICATION, RELEASE OR
DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES,
AUSTRALIA, JAPAN, OR ANY OTHER JURISDICTION IN WHIC H IT WOULD BE UNLAWFUL TO DO SO.
ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CON STITUTE A VIOLATION OF THE
SECURITIES LAWS OF SUCH JURISDICTIONS.
ALPHAMIN RESOURCES CORP. PROVIDES PROJECT UPDATE, RELEASES INTERIM RESULTS
MAURITIUS – August 29, 2018 – Alphamin Resources Corp. (AFM: TSXV, “ Alphamin ” or the “Company ”) is
pleased to announce an update on progress at its Bisie Tin Project.
Construction of the Company’s 80.75% owned Bisie Ti n Project is currently on schedule and 75% complete .
Commissioning of the process plant is scheduled for Q1 2019. Equity financing raised to date together with the
US$80m credit facility is currently projected to take the Company through to commercial production.
Key project highlights include;
• Safety Over 1 million-man hours worked by over 600 empl oyees with no
lost time injuries reported.
• Mine construction Progressing ahead of schedule with 1709 developme nt meters
complete out of a total of 2,700.
• Process plant Construction ahead of schedule with 256 tons of s teel erected with
majority of kit required now on site.
• Infrastructure Construction of the Company’s 36Km access road to site and
airstrip is now complete with project deliveries getting through to site
without difficulty.
• Logistics and procurement 73% of project loads have been delivered to the mine site.
Procurement is 90% complete.
• Social and community Social development investments targeting over 1500 households for
livelihoods and community infrastructure projects c ontinue. Site
security and community relations have been strengthened further by
the peaceful and voluntary migration of the remaini ng 500 artisanal
miners from Alphamin’s concession in late 2017 and early 2018.
The recent Ebola outbreak in the North Kivu provinc e is being monitored closely and strict protocols h ave been
put in place to reduce the risk of transmission at Bisie. The outbreak is located some 1,200km from Bisie by road.
To date there has been no impact on the Company’s operations.
The Company has also filed its interim financial st atements for the three and six months ended June 30 , 2018
and Management Discussion and Analysis – quarterly highlights, which are available on SEDAR.com.
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Further information, videos and photographs of the Project’s progress are available on the Alphamin
Resources Corp. website at www.alphaminresources.com
EDITORS NOTES:
FOR MORE INFORMATION, PLEASE CONTACT:
Boris Kamstra
Chief Executive Officer
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: [email protected]
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.
ISSUED ON BEHALF OF THE BOARD OF DIRECTORS OF ALPHAMIN RESOURCES CORP. BY:
Boris Kamstra, Chief Executive Officer
Tel: +230 269 4166
Grand Baie, Mauritius
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a stat ement of historical fact constitutes forward-looking information.
Forward-looking statements contained herein include , without limitation, statements relating to the in tended
completion of additional financing and the anticipa ted use of funds from such financing, the participa tion of
Tremont and other stakeholders, the satisfaction of conditions precedent under the Credit Facility, the Company’s
intentions to raise the balance of funding required to complete construction of the Project and the sources thereof,
additional subscription by IDC, costs of production , success of mining operations, the ranking of the project in
terms of cash cost and production, economic return estimates, social, community and environmental impacts, and
continued positive discussions and relationships wi th local communities and stakeholders. Forward-look ing
statements are based on assumptions management beli eves to be reasonable at the time such statements a re
made. There can be no assurance that such statement s will prove to be accurate, as actual results and future
events could differ materially from those anticipat ed in such statements. Accordingly, 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 fro m those contained in forward-looking statements, th ere may be
other factors that cause results not to be as antic ipated, estimated or intended. Factors that may cau se actual
results to differ materially from expected results described in forward-looking statements include, bu t are not
limited to: Alphamin’s ability to secure sufficient financing to advance and complete the Project, unc ertainties
associated with Alphamin’s resource and reserve est imates, uncertainties regarding the estimation of f uture
costs, uncertainties regarding global supply and de mand for tin and market and sales prices, uncertain ties
associated with securing off-take agreements and cu stomer contracts, uncertainties with respect to soc ial,
community and environmental impacts, adverse politi cal events, uncertainties with respect to optimizat ion
opportunities for the Project, as well as those risk factors set out in the Company’s Management Discussion and
Analysis and other disclosure documents available u nder the Company’s profile at www.sedar.com . Forward-
looking statements contained herein are made as of the date of this news release and Alphamin disclaim s any
obligation to update any forward-looking statements , whether as a result of new information, future ev ents or
results or otherwise, except as required by applicable securities laws.