The above media statement and accompanying material for media use are issued by

NEWS RELEASE

C/o ADANSONIA MANAGEMENT SERVICES LIMITED, Suite 1, For more media information or

PERRIERI OFFICE SUITES, C2-302, Level 3, Office Block C, interview 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 FOR PUBLICATION, RELEASE OR

DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES,

AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.

ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE

SECURITIES LAWS OF SUCH JURISDICTIONS.

EQUITY FINANCING OF US$15 MILLION TO FURTHER

CONSTRUCTION ACTIVITIES AT THE BISIE TIN PROJECT AND RESIGNATION OF DIRECTOR

MAURITIUS – May 25, 2018 – Alphamin Resources Corp. (AFM: TSXV, “Alphamin”, or the “Company”) is

pleased to announce that it intends to raise approximately C$19.2 million (US$15.0 million) by way of a non-

brokered private placement (the “Private Placement”) to fund the continued development of the Company’s

80.75% owned Bisie Tin Project (the “Project”) and for general corporate purposes.

The Private Placement is intended to be completed with the Company’s 44.86% shareholder, Tremont Master

Holdings (“Tremont”), for up to 76,800,000 common shares of the Company (the “Common Shares”) at a price

of C$0.25 per Common Share. The number of Common Shares being subscribed for by Tremont will be reduced

in the event other investors participate in the Private Placement, subject to a minimum subscription by Tremont of

44.86% of the Private Placement.

The Company is partnering in the development of the Project with the Government of the Democratic Republic of

Congo, which has a free carried interest of 5%, and the Industrial Corporation of South Africa (the “IDC”), which

has an interest of 14.25%.

Completion of the Private Placement is subject to customary conditions, including the approval of the TSX

Venture Exchange (the “TSXV”) and all other necessary regulatory approvals. The Private Placement is

expected to close on or about June 18, 2018.

All of the Common Shares sold pursuant to the Private Placement will be subject to a four month hold period

which will expire four months and one day from the date of closing of the Private Placement.

The Company has also called the next drawdown (the “Draw”) pursuant to the previously announced credit

facility of up to US$80 million (the “Credit Facility”), which is expected to be received in early June. In addition,

the Company intends to convert, subject to TSXV approval, US$3.396 million of debt which will become due to

Sprott Private Resource Lending (Collector), L.P ., Tremont Master Holdings and Barak Fund SPC Limited

concurrently with the Draw in accordance with the terms of the Credit Facility, into 17,389,387 Common Shares at

the same price per share as the Private Placement.

All amounts have been translated using exchange rates of USD1: CAD1.28, being the exchange rate prevailing

on May 23, 2018.

Additional equity funding from the Industrial Development Corporation of South Africa (“IDC”) in the amount of

approximately US$7.1 million has also been approved in the Company’s 80.75% owned subsidiary, Alphamin

Bisie Mining SA (“ABM”). The investment maintains the IDC’s 14.25% shareholding in ABM.

The above media statement and accompanying material for media use are issued by

ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above

The Company also announces that it has received and accepted the resignation of Bernard Swanepoel, a non-

executive director of the Company. The resignation takes effect from May 28, 2018. The Company wishes to

thank Mr. Swanepoel for his contribution as director of the Company.

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 securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any

of the securities in the United States of America. The securities have not been and will not be registered under

the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or

sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under

the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from

such registration requirements is available.

FOR MORE INFORMATION, PLEASE CONTACT:

Boris Kamstra

Chief Executive Officer

Alphamin Resources Corp.

Tel: +230 269 4166

E-mail: [email protected]

Grand Baie, Mauritius

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Information in this news release that is not a statement of historical fact constitutes forward-looking information.

Forward-looking statements contained herein include, without limitation, statements relating to the terms and

intended completion of the Private Placement, the anticipated use of funds from the Private Placement, the

anticipated additional debt drawdown, the participation of the IDC and other stakeholders, 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

with local communities and stakeholders. Forward-looking statements are based on assumptions management

believes to be reasonable at the time such statements 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. 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 from those contained in forward-looking statements, there may be other factors that cause results not

to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from

expected results described in forward-looking statements include, but are not limited to: Alphamin’s ability to

secure sufficient financing to advance and complete the Project, uncertainties associated with Alphamin’s

resource and reserve estimates, uncertainties regarding global supply and demand for tin and market and sales

prices, uncertainties associated with securing off-take agreements and customer contracts, uncertainties with

respect to social, community and environmental impacts, adverse political events, uncertainties with respect to

optimization 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 under 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 disclaims any obligation to update any forward-looking statements, whether as a result of new

information, future events or results or otherwise, except as 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 news release.