ALPHAMIN ANNOUNCES RECORD PRODUCTION VOLUMES / GUIDING EBITDA FOR Q4 2021 OF US $ 74M / DIVIDEND STATEMENT FOR FISCAL YEAR 2021


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MAURITIUS, January 11, 2022 (GLOBE NEWSWIRE) – Alphamin Resources Corp. (AFM: TSXV, APH: JSE AltX) (“Alphamin” or the “Company”), a producer of 4% of the tin mined in the world1 from its high-grade mine in the Democratic Republic of the Congo, has the pleasure to provide the following update for the quarter ending December 2021:

  • Contents tin making at the top ten% from the previous quarter to 3,114 tons
  • Contents tin sales up 13% from the previous quarter to 3 056 tons
  • Save T4 EBITDA4 orientation of we$seven4m, at the top 38% of the actual previous quarter
  • Report cash the position goes to US $ 68m
  • FY2021 dividend of GOUJAT$ 0.03 per share declared

Operational and Financial Summary for the completed Quarter December 20212

1Data obtained from the International Tin Association’s Tin Industry Review Update 2021 2Manufacturing information is 100% disclosed. Alphamin indirectly owns 84.14% of its operational subsidiary to which the information relates. 3The fourth quarter 2021 EBITDA represents management’s expectations. 4This is not a standardized financial measure and may not be comparable to a similar finamfinancial measures of other issuers. See “Use of Non-IFRS Financial Measures” below for the composition and calculation of this financial measure.

Operational and financial Performance

Contained tin production of 3,114 tonnes was 10% higher than the previous quarter. Improved underground mining practices related to the planning, delineation and blasting of stope sites resulted in better grade control with an average tin grade of 3.8% processed over the five months ended in December 2021. Waste development is now well ahead of current mining zones, providing flexibility in mixing high and low grade zones for a more consistent grade profile.

Sales of contained tin of 3,056 tonnes increased 13% from the prior quarter.

EBITDA guidance of US $ 74 million for the fourth quarter of 2021 is estimated to be 38% higher than the actual EBITDA of the previous quarter of US $ 53.7 million due to increased tin production and sales volumes, as well as a higher average tin price reached of US $ 38,084 / t (current tin price: ~ US $ 39,000 / t).

The Group’s net cash position at December 31, 2021 increased by US $ 67 million compared to the previous quarter.

Contained tin production forecast for the year ending December 2022 is 12,000 tonnes.

The mineral resource estimation exercise for the Mpama South deposit began in December 2021. Drilling continues with six rigs on site and the next large batch of external assay results is expected in January 2022 .

Alphamin’s audited consolidated financial statements and accompanying MD&A for the quarter and fiscal year ended December 31, 2021 are expected to be released on or about March 7, 2022.

FY2021 Declaration of dividended

Alphamin’s vision is to become one of the world’s largest producers of sustainable tin. From a capital allocation perspective, the board considers the combination of significant exploration, investment in growth and a high dividend yield to be a strong value proposition. Dividend distributions will be considered on the basis of excess cash available after taking into account working capital requirements, contingency reserves and expansion opportunities.

Based on this, the board has decided to declare a cash dividend of C $ 0.03 per share for fiscal year 2021 on the common shares (approximately US $ 30 million in total) (“the dividend”). The dividend will be payable on February 11, 2022 to shareholders of record at the close of business on February 4, 2022.

Qualified person

Mr. Clive Brown, Pr. Ing., B.Sc. Engineering (Mining), is a Qualified Person (QP) as defined in National Instrument 43-101 and has reviewed and approved the scientific and technical information contained in this press release. Press. He is a Principal Consultant and Director of Bara Consulting Pty Limited, an independent technical consultant of the company. _________________________________________________________________________________________

FOR MORE INFORMATION PLEASE CONTACT:

Maritz smith CEO Alphamin Resources Corp. Phone. : +230 269 4166 Email: [email protected]

ATTENTION REGARDING FORWARD-LOOKING STATEMENTS

Information contained in this press release that does not constitute a statement of historical facts constitutes forward-looking information. Forward-looking statements contained in this document include, without limitation, statements relating to to expected EBITDA advice Why4 2021 and content of tin production advice for the financial year ending December 31, 2022. Forward-looking statements are based on what management believes to be reasonable assumptions 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. Therefore, 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 planned. Factors that could cause the actual results to differ materially from the expected results described in theforward-looking statements include, but are not limited to: uncertainties regarding estimates of tin content extracted, performance and recovery of treatment plants, uncertainties regarding global tin supply and demand and market and selling prices, uncertainties regarding social, community and environmental impacts, uninterrupted access to the required infrastructure and to third-party service providers, unfavorable political events, uncertainties regarding legislative requirements in the Democratic Republic of Congo which may result in unexpected fines and penalties, impacts of the global Covid-19 pandemic on mining operations and commodity prices as well as the risk factors set out in the company’s management report and other information documents available under the company’s profile at www.sedar.com. The forward-looking statements contained herein are made as of the date of this press 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, unless 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 release.

USE OF NON-IFRS FINANCIAL PERFORMANCE MEASURES

This announcement refers to the following non-IFRS financial performance measures:

EBITDA

EBITDA is profit before net finance costs, income taxes and depreciation, depletion and depreciation. EBITDA provides insight into the overall performance of our business (a combination of cost management and growth) and is the corresponding flow driver towards the goal of achieving the best returns in the industry. This metric helps readers understand the cash generation potential of the business, including cash to finance working capital, debt service, and funding of capital expenditures and investment opportunities.

Eis measure is not recognized in IFRS as That makes does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers. EBITDA the data are intended to provide additional information and should not be viewed in isolation or as a substitute for performance measures prepared in accordance with IFRS.

NET CASH

Net cash is defined as Cash and cash equivalents less total current and non-current parts of bearing interest debts and rental debts.

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Source: Alphamin Resources Corp.

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