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
6884807 v5
LEADERSHIP CHANGES AND COMMISSIONING UPDATE
The board of Alphamin is pleased to announce a change of leadership at Alphamin which is precipitated by the
company completing the “project build” phase and migrating to that of a steady state mining operation.
Mr Boris Kamstra will step down as CEO with immediate effect. Boris has led the Alphamin team through its
development and mine build phase and has done an extraordinary job in extraordinary conditions. Some of the
team accomplishments under Mr Kamstra’s leadership include:
• Negotiating and implementing Agreements with all local stakeholders resulting in a constructive working
relationship and “licence to operate” with the loca l communities and Democratic Republic of the Congo
(“DRC”) representatives, both local and national.
• Ensuring that artisanal miners vacated the mining site by mutual agreement.
• Building road access to the mining site through n early 40km of deep jungle.
• Raising the funds needed to develop the Bisie min e.
• Building and constructing the mine, processing pl ant and related infrastructure on site.
• Building a team that is progressing mine commissi oning.
The board is delighted to report that Mr Kamstra wi ll continue to serve as an executive director of Al phamin with
responsibilities that include Investor relations, tin marketing and special value-add projects.
Mr Maritz Smith has been appointed Chief Executive Officer of Alphamin. Maritz has 18 years of experience with
all aspects of directing mining operations and is well suited to guide Alphamin through its next phase of operations
and corporate objectives.
Maritz holds a B-Com Hons degree and is a Chartered Account. Following the completion of his degree, he joined
the mining industry 18 years ago as a financial con troller in Metorex (Pty) Limited which later listed on the
Johannesburg Stock Exchange. Metorex was a mid-tier multi commodity mining group that owned and managed
mining operations in South Africa, Zambia and the Democratic Republic of Congo.
His involvement included participating actively with the technical executives, both at head office and on-mine, with
primary focus on the financial aspects of the operations.
He was a member of the EXCO team of Metorex and pri or to his resignation to join Pangea he held the of fice of
CFO/Financial Director which included him in decision making on capital projects, the mining company operations
and corporate management and listed company reports and presentations.
On leaving Metorex he was offered the position of Chief Operating Officer of Pangea (Pty) Limited where he was
able to apply his technical and financial experienc e gained in Metorex to a more general management ro le in
evaluation and proposing to investors projects of p otential interest. Alphamin was one of these projec ts that has
The above media statement and accompanying material for media use are issued by
ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above
6884807 v5
evolved from this evaluation, financing and develop ment stages to the current operational mining compa ny
producing a quality tin product to the international market.
Maritz progressed to the position of Chief Executive of Pangea prior to accepting the position of Chief Executive of
Alphamin to take the company forward from the const ruction and development phase to an income producin g
profitable mining company
Mr Needham, Chairman of Alphamin stated that “This planned change in leadership personnel at Alphamin takes
place as the mine completes its commissioning and starts to take its place as a significant and responsible producer
of tin to the world. We are indeed fortunate in having such outstanding personnel as Boris and Maritz ready to lead
Alphamin at each stage in the development of this mine”.
It is also pleasing to report that the plant commis sioning at Bisie is progressing along a positive tr end line and
production metrics have improved over the last 3 months.
Notes:
(1) The figures are unaudited
(2) Recoveries during the first week of August 2019 averaged 62%. Whilst the plant is reporting steadi ly
increasing and improved recoveries, further metallu rgical balancing is required before the nameplate
recoveries are achieved.
(3) The nameplate recoveries are expected to be ~72 % and targeted monthly plant feed to the end of the
current year is expected to average 24,000tpm.
The Industrial Development Corporation (IDC) has now contributed its pro rata share of the previous equity raises,
being US$4,6million.
Further information will be supplied in the scheduled quarterly report at end of August.
FOR MORE INFORMATION, PLEASE CONTACT:
Charles Needham
Chairman
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: [email protected]
Grand Baie, Mauritius
May June July
Plant feed (t) 12,459 20,588 33,609
Feed grade (%Sn) 5% 4.4% 5.3%
Overall Plant Recovery (%) 26% 50% 42%
Tin in concentrate (t) 162 452 744
Concentrate bagged (t) 261 707 1,220
The above media statement and accompanying material for media use are issued by
ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above
6884807 v5
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a stat ement of historical fact constitutes forward-lookin g information.
Forward-looking statements contained herein include , without limitation, statements relating to the te rms and
intended completion of the Private Placement, the a nticipated use of funds from the Private Placement, the
anticipated additional debt drawdown, the participa tion of the IDC and other stakeholders, costs of pr oduction,
success of mining operations, the ranking of the pr oject in terms of cash cost and production, economi c 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 relianc e on forward-looking statements. Although Alphamin has
attempted to identify important factors that could cause actual results to differ materially from thos e contained in
forward-looking statements, there may be other fact ors that cause results not to be as anticipated, es timated or
intended. Factors that may cause actual results to differ materially from expected results described i n 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, uncerta inties
regarding global supply and demand for tin and mark et and sales prices, uncertainties associated with securing
off-take agreements and customer contracts, uncerta inties with respect to social, community and enviro nmental
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 even ts or results or otherwise, except as required by a pplicable
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.