Alpha's Drilling Confirms Second Target of Scale at Anagulu Copper-Gold Porphyry Project

Alpha Exploration Ltd. (ALEX) reported first-half 2026 results from its Anagulu copper-gold porphyry project, comprising 2,722 meters of core and reverse circulation (RC) drilling, 5,921 meters of shallow rotary air blast (RAB) drilling, and 1,290 meters of trenching.

In the Discovery Target Zone, the best new intercept came from hole ANRD016, which returned 67.00 meters grading 0.38% copper and 0.10 grams per tonne gold from a depth of 269 meters. This interval included 34.00 meters grading 0.61% copper and 0.15 grams per tonne gold, as well as 12.00 meters grading 1.20% copper and 0.30 grams per tonne gold. The company stated that these results expand quartz-eye porphyry-hosted mineralization approximately 60 meters to the northeast.

First RC testing at the Camel Target Zone yielded the following results:

• ANR051: 25.00 m @ 0.20% Cu, 0.07 g/t Au from 78 m, including 16.00 m @ 0.26% Cu, 0.09 g/t Au.
• ANR052: 12.00 m @ 0.14% Cu, 0.08 g/t Au.
• ANR053: 12.00 m @ 0.09% Cu, 0.05 g/t Au.

Initial testing at the Nightjar Target Zone produced:

• ANR057: 21.00 m @ 0.07% Cu, 0.03 g/t Au.
• ANR058: 16.00 m @ 0.05% Cu, 0.13 g/t Au.

Table 1 also lists ANRD016 returning 7.00 meters grading 12.39 grams per tonne gold at depths of 151 to 158 meters; however, this result is flagged as previously reported and is not part of the new highlights in this release.

Alpha Exploration Ltd. (ALEX) released data that does not constitute an earnings report or a resource update, as the company remains pre-revenue and pre-resource. The announcement does not materially alter the deposit thesis or net asset value, given the absence of a defined resource, mine plan, or economic intercept. The market was already aware from April 2026 that the Camel target measured 1 km by 250 m based on reverse circulation (RC) drilling; today’s release confirms porphyry-hosted mineralization but notes low grades.

Compared to the prior Anchor ANRD049, the new ANRD016 intercept is materially lower in gold gram-metres and total copper equivalent (CuEq) width. However, because the stock has not re-rated substantially above the anchor level, the lower results are not considered a material negative.

Alpha Exploration Ltd. (TSXV: ALEX) is a junior explorer focused on its 514 km² Kerkasha Project in Eritrea. The company’s portfolio includes the Aburna Gold Project, characterized as a shallow high-grade gold discovery where only about 20% of the 7 km trend has been tested. Previous intercepts at Aburna include 18 m @ 15.33 g/t Au and 49 m @ 2.75 g/t Au. The project also encompasses the Anagulu Cu-Au porphyry, a large 4 km x 2 km target footprint comprising the Discovery, Camel, and Nightjar zones, as well as the early-stage Tolegimja VMS prospect.

Alpha Exploration is currently a pre-revenue explorer with no mineral resource estimate disclosed. Financially, the company reported Q1 2026 cash of about $254k. Liquidity was improved following a post-period financing of about CAD$6.25M in April 2026. Management is led by CEO John Wilton, CGeol FGS, and Dr. Richard Sillitoe joined as an advisor in April 2026.