Closing of Private Placement of 1,700,000 Units

Suite 381, R 142 - 757 West Hastings Street, Vancouver, B.C. V6C 1A1 Tel: (604) 687-4432 Fax: (604) 687-4709 www.alphaminresources.com

News Release 2009-08

CLOSING OF PRIVATE PLACEMENT OF 1,700,000 UNITS

Vancouver, Canada – January 29, 2010 - Alphamin Resources Corp. (AFM: TSX Venture Exchange) is pleased to announce that it has closed a non-brokered private placement of 1,700,000 units at a price of $0.125 per unit for gross proceeds of $212,500. Each unit is comprised of one (1) common share and one (1) nontransferable share purchase warrant, each warrant entitling the holder to purchase one

(1) additional common share of the Company at a price of $0.165 per share until January 19, 2012. The securities issued and all securities issuable thereunder pursuant to the private placement are subject to a hold period until May 20, 2010.

The placement proceeds will be used by the Company for general working capital and continued exploration work on the Company’s properties in Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “A. Cameron Richardson”

A. Cameron Richardson, Director

NEITHER 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.