Alpha Expands Anagulu Porphyry Mineralisation with Drill Intercept of 120 metres Grading 0.30% Copper and 0.47 g/t Gold

Calgary, Alberta–(Newsfile Corp. – February 23, 2026) – Alpha Exploration Ltd. (TSXV: ALEX) (“Alpha” or the “Company”) is pleased to announce recently received first batch of drilling results from a program of 1,585 metres of drilling completed from the end of 2025 and early 2026 exploration program at the Anagulu Copper-Gold Porphyry Project.

This project is location within its 100% owned, 514km² Kerkasha Project located in Eritrea. The Anagulu copper-gold porphyry was discovered by the Alpha team through surface sampling and mapping with follow-up drilling. The project is located some 7 kilometres south of the Company’s shallow, high-grade, Aburna Gold Project and these projects are two of three significant discoveries made by the Alpha team on the Kerkasha licence.

HIGHLIGHTS OF RECENT ANAGULU PORPHYRY PROJECT DRILLING RESULTS

• ANRD049: 120.00 metres grading 0.30 percent copper (“%”) and 0.47 grams per tonne (“g/t”) gold

• Including: 69.00 metres grading 0.38% copper and 0.66 g/t gold
• Including: 17.00 metres grading 0.51% copper and 0.84 g/t gold

• Intercept extends the mineralised porphyry unit at least 120 metres to the northeast

• The same interpreted mineralised unit outcrops along trend to the southwest

• Copper target areas from termite mound sampling results extending past an outcropping magmatic-hydrothermal breccia body some 2 kilometres from currently drilled Anagulu porphyry are to be tested by shallow RAB drilling

Based upon current data and interpretation it is estimated true widths range between 50% and 70% of the drilled intersections.

John Wilton, CEO of Alpha, stated: “These new drilling results provide a number of important positive factors for the Anagulu Copper-Gold Porphyry Project. The ANRD049 drill intersection of 120 metres grading 0.30% copper and 0.47 g/t gold also demonstrates that the spine of the mineralisation hosted within a quartz-eye porphyry returning, 69 metres grading 0.38% copper and 0.66 g/t gold, has been extended at least 120 metres along trend from the Company’s previous drill intercepts. This unit has been mapped in outcrop to the southwest of ANRD049 and includes previously reported drill intervals such as 110 metres grading 0.57% copper and 1.24 g/t gold and 63 metres grading 0.48% copper and 0.94 g/t gold in drill holes AND001 and ANR031 respectively (see Figure 1 & references).

The geological footprint of the Anagulu copper-gold porphyry system as now indicated by drill intersections and anomalous copper-in-soil geochemistry continues for some 2 by 0.5 kilometres. Furthermore, integration of this data with recent termite mound sampling results and geological mapping has delivered compelling target areas for another 2 kilometres to the northeast under an area of thin but extensive transported soil cover. The overall Anagulu Porphyry copper-gold target footprint now extends for some 4 by 2 kilometres indicating significant exploration scale potential. The Alpha exploration team has designed a program of shallow cost-effective RAB drilling to test and define these copper-gold target areas in the northeast for follow-up RC and core drilling. The RAB drill program will commence in the coming weeks.”

ANAGULU COPPER GOLD PROJECT: DRILLING RESULTS

These new results relate to a first batch of results from a phase of drilling conducted in late 2025 and early 2026 comprising 597 metres of Reverse Circulation (“RC”) and 988 metres of diamond core (“DC”) drilling.

Figure 1 indicates the location of drill hole ANDR049 with its sampling results. This intercept of 120 metres grading 0.30% copper and 0.47 g/t gold increases the mineralised quartz diorite unit at least 120 metres along trend from drilled intervals on section line SS-42 such as ANR031 which returned 63 metres grading 0.57% copper and 0.94 g/t gold and section line SS-40 with AND001 intersecting 110 metres grading 0.57% copper and 1.24 g/t gold (previously reported see Figure 1 & footnote for reference).

Importantly this unit is mapped in outcrop to the southwest indicating it extends in areas to the surface. The Anagulu porphyry system has already been drilled and recognised from copper in soil data to extend for some 2 by 0.5 kilometres.

The Figure 1 map also clearly illustrates the areas of anomalous termite mound sampling copper values both immediately along trend, to the northeast, from the Anagulu porphyry drilled to date, and in the vicinity of the outcropping magmatic-hydrothermal breccia in the northern area. These two areas provide an overall Anagulu porphyry target geological exploration footprint of some 4 by 2 kilometres in scale.

The Alpha exploration team has noted that, to date, much of the outcrop mapped, drilled and geochemical anomalies related to the Anagulu porphyry target are located within, or in close proximity to, a thorium low signature from the airborne radiometric data. This large footprint signature (see Figure 1) is interpreted as another indication, along with the extensive anomalous surface copper sampling data, and with existing positive drilling results, of the potential significant scale to the Anagulu porphyry copper/gold system.

The importance of the termite mound sampling results is that they provide very efficient and cost-effective reconnaissance copper geochemical sampling in areas of expected thin but transported soil cover. The termite activity brings sample material up, from potentially as deep as the water table, to the surface reflecting bedrock anomalies.

These areas of anomalous copper in termite mounds, as indicated on Figure 1, will be tested by shallow, cost effective, Rotary Air Blast (“RAB”) drilling to provide definition of bedrock copper targets and information on the bedrock geology. Copper and potentially other pathfinder element geochemistry will be used to identify and prioritise drill targets for RC and DC testing.

Figure 1: Map Showing Drill hole ANRD049 Location, Previous Selected Drilling Results, Copper Target Areas from Termite Mound Sampling to be Tested by Shallow RAB Drilling, and Magmatic-Hydrothermal Breccia Outcrop

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8361/284922_c83f40e7346d3aef_002full.jpg

Figure 1 notes: Previously reported results in Alpha Exploration news releases; Alpha Exploration announces final 2024 drilling results at Aburna Gold and Anagulu Gold Copper prospects and updates exploration plans for 2025, March 21^st 2025., Alpha Exploration Reports 95m of 1.30 g/t AuEq from Anagulu Porphyry Gold-Copper Prospect, Kerkasha Project Eritrea, December 9, 2021, and NI 43-101 Technical Report for the Kerkasha Project, Eritrea, RSC Mining & Mineral Exploration, 21 June 2021.

Figure 2 shows the ANRD049 drill intercept on cross section. Drill holes from two adjacent lines SS-44 and SS-46 have been projected, 40 metres each, to provide geological context. Results from ANRD041 are pending and will be reports when available. The cross section demonstrates the quartz diorite porphyry unit (purple colour on drill hole traces) is interpreted to be developed from surface to at least a vertical depth of some 240 metres below the collar of ANRD049.

Figure 2: Cross Section SS-45 Showing ANRD049 and ANDR041 with Drill Holes from Lines SS-46 & SS-44 Projected (40 metres)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8361/284922_c83f40e7346d3aef_003full.jpg

Figure 2 notes: Previously reported results in Alpha Exploration news releases; Alpha Exploration announces final 2024 drilling results at Aburna Gold and Anagulu Gold Copper prospects and updates exploration plans for 2025, March 21^st 2025., Alpha Exploration Reports 95m of 1.30 g/t AuEq from Anagulu Porphyry Gold-Copper Prospect, Kerkasha Project Eritrea, December 9, 2021, and NI 43-101 Technical Report for the Kerkasha Project, Eritrea, RSC Mining & Mineral Exploration, 21 June 2021.

Table 1: ANRD049 Drilling Results with Depth, Intervals, Copper and Gold Grade

Drill Hole ID	Depth From (m)	Depth To (m)	Width (m)	Copper (Cu) (%)	Gold (Au) ppm (g/t)
ANRD0049	279.00	399.00	120.00	0.30	0.47
Including	302.00	371.00	69.00	0.38	0.66
Including	304.00	321.00	17.00	0.51	0.84

 

Table 1 Notes: Intertek completed the analytical work with analytical procedures conducted in an Intertek laboratory in Tarkwa, Ghana. Sample preparation was undertaken by an independent laboratory NABRO in Asmara, Eritrea and the pulps shipped to Intertek, Ghana. Based upon current data and interpretation it is estimated true widths range between 50% and 70% of the drilled intersections. A nominal cut-off grade of 0.10% Cu has been used to determine the boundaries of these intersections with no more than 5 metres of internal dilution of the intercepts.

QUALITY ASSURANCE AND QUALITY CONTROL

The results reported here for the Reverse Circulation (“RC”) and Diamond Core (“DC”) drilling were analysed by Intertek Minerals Ltd., an independent and accredited laboratory located in Tarkwa, Ghana. The RC and DC drilling was managed by Alpha Exploration’s field team with the field operations conducted in-line with the standard operating procedures implemented at this project. Alpha uses an independent laboratory in Asmara (NABRO) to prepare drill samples for assaying. Representative one-metre samples from the RC drilling and half core samples of the HQ & NQ size and quarter core for PQ size, were crushed (to >90% passing 2.0 mm) and pulverised (to >85% passing 75 micron). A scoop sample of approximately 60g for laboratory analysis was taken. The coarse and pulp rejects were stored at Alpha’s warehouse in Asmara. The Company uses appropriate duplicate samples and inserts certified reference material from OREAS (www.ore.com.au) into the sample stream. NABRO sample preparation facility inserts barren granodiorite material into the sample stream as blanks. The 60g sub-samples with inserted QA/QC samples of blanks and certified reference material every 20^th field sample were shipped to Intertek Minerals, Tarkwa, Ghana. The gold results at the laboratory were determined by using a 30g sub-sample for Fire Assay (“FA”) and Atomic Absorption Spectroscopy (“AAS”) finish (Intertek Code: FA30/AA). The Multi element (including copper) results were determined using a 30g sub-sample for Four acid 48 elements package (“4A”) and low-level sulphur 50ppm (“OM48”) with Mass Spectrometry (“MS”) finish (Intertek Code: 4A/OM48). Termite mound samples are collected and processed in-line with the standard operating procedures implemented at this project. Four sub-samples of each mound are sampled collecting approximately a 2kg sample. This sample is gently pulverized to break up any soil clods and sieved to -75um to obtain a uniform representative sample. A 100g sample aliquot is collected using a scoop and a sub-sample analysed with QA/QC samples inserted every 25^th field sample by Portable X-ray Fluorescence (“pXRF”) within the Company’s field laboratory in Asmara, Eritrea. The pXRF is routinely monitored by the QA/QC sample results to check its calibration.

Table 2: Drillhole ID, Azimuth, Dip, End of Hole Depth, Collar Coordinates and Comments

Drillhole ID	Azimuth  Degree	Hole Dip  Degree	End of hole Depth (m)	X_UTM_37N	Y_UTM_37N	Elevation (Z) (m)	Comments  (Also see Table 1)
ANRD049	310	-53	407.50	341895.00	1644957.00	874.00	120m @ 0.30% Cu & 0.47 g/t Au
ANRD041	315	-50	306.80	341836.40	1644994.40	898.00	Results Pending
ANRD048	315	-60	452.50	341034.00	1644006.00	872.00	No significant intervals
ANRD047	135	-60	418.50	340843.00	1644183.00	877.00	Results Pending

 

QUALIFIED PERSON

All scientific and technical information in this press release, including the results of the Aburna drill program and how these results relate to the ongoing exploration at the Kerkasha Project has been reviewed, verified, and approved by John Wilton CGeol FGS, CEO & Director of Alpha and a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

ABOUT ALPHA

Alpha (TSXV: ALEX) is an exploration company that is rapidly advancing a number of important gold and base metal discoveries across its 100% owned, 514 km2 Kerkasha Project in Eritrea.

The Aburna Gold Prospect is an exciting new gold discovery where recent drilling has confirmed a high-grade mineralized system, with grades including 18m @ 15.33 g/t Au, 16 m @ 14.07 g/t Au, 9 m @ 10 g/t Au and 23 m @ 6.74 g/t Au.

The Anagulu Gold-Copper Prospect includes drill intersections of 108 m @ 1.24 g/t Au and 0.60% Cu and 49 m @ 2.42 g/t Au and 1.10% Cu within a porphyry unit mapped over at a >2 km strike length.

The Company is managed by a group of highly experienced and successful mining and exploration professionals with long track records of establishing, building and returning value to stakeholders from a number of world class gold and base metal discoveries in Eritrea and across the wider Arabian Nubian Shield.

Cautionary Notes

This press release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States. 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.

Forward Looking Statements

Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to future dataset interpretations, sampling, plans for its projects (including the Anagulu prospect), surveys related to Alpha’s assets, and the Company’s drilling program. Often, but not always, forward-looking statements or information can be identified by the use of words such as “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. With respect to forward-looking statements and information contained herein, Alpha has made numerous assumptions including among other things, assumptions about general business and economic conditions and the price of gold and other minerals. The foregoing list of assumptions is not exhaustive.

Although management of Alpha believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to Alpha’s financing efforts; risks associated with the business of Alpha given its limited operating history; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting mining concessions); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to exploration activities; those factors discussed under the heading “Risk Factors” in the Final Prospectus; and other risk factors as detailed from time to time. Alpha does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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