Private Placement of up to 5,000,000 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 2011-02

PRIVATE PLACEMENT OF UP TO 5,000,000 UNITS

Vancouver, Canada – March 2, 2011 - Alphamin Resources Corp. (AFM: TSX Venture Exchange) announces that it has closed the non-brokered private placement previously announced on December 20, 2010 and February 4, 2011, consisting of 5,000,000 Units at a price of $0.20 per unit for gross proceeds of $1,000,000. Each unit is comprised of one (1) common share and one-half (1/2) of one (1) non-transferable share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share of the Company at a price of $0.25 until February 22, 2013. Securities issued pursuant to the private placement are subject to a hold period expiring June 23, 2011.

Proceeds from the placement will be used by the Company to continue exploration of its properties in Mexico, examine other exploration opportunities and for general working capital.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Carl G. Verley”

Carl G. Verley, 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.