Calgary, Alberta--(Newsfile Corp. - August 17, 2026) - Alpha Exploration Ltd. (TSXV: ALEX) ("Alpha" or the "Company") is pleased to announce results of its recently completed 2,722 metre H1 2026 exploration campaign, including both core and reverse-circulation ("RC") drilling, at the Anagulu copper-gold porphyry project. This work was supplemented and partly guided by the results of a 5,921 metre shallow rotary air blast ("RAB") reconnaissance drilling programme. This RAB drilling was designed to expand and identify new target footprints of the Anagulu Copper-Gold mineralization, where it is concealed under immature soil cover.

HIGHLIGHTS of NEW ANAGULU COPPER-GOLD PROJECT DRILLING RESULTS

• ANRD016: 67.00 metres grading 0.38 percent copper ("%") and 0.10 grams per tonne ("g/t") gold
       Including: 34.00 metres grading 0.61% copper and 0.15 g/t gold
       Including: 12.00 metres grading 1.20% copper and 0.30 g/t gold
• Discovery Target Zone quartz-eye porphyry-hosted mineralization expanded 60 metres to the northeast and other copper-gold-mineralized units, associated with the broader porphyry system, extended 250 metres along trend
• ANR051: 25.00 metres grading 0.20% copper and 0.07 g/t gold
       Including: 16.00 metres grading 0.26% copper and 0.09 g/t gold
• First RC drill testing of Camel target establishes this expanded 1.25 by 0.2 kilometre RAB copper target as a quartz-eye porphyry unit with copper sulphide and gold mineralization
• Camel Target Zone completely untested for 1.1 kilometres along trend to southwest, where width and grade of RAB target increase, with comparable RAB copper results higher than those over the original Discovery target zone

The Anagulu project is located within the Company's 100% owned, 514 km² Kerkasha Project in Eritrea. The Anagulu copper-gold porphyry was discovered by the Alpha team through surface sampling and mapping with follow-up drilling. Previously reported drilled intercepts include 108 metres @ 0.60 % copper and 1.24 g/t gold including 49 metres @ 1.10% and 2.42 g/t gold, and 120 metres @ 0.30% copper and 0.47 g/t gold in drill holes AND001 and ANRD049, respectively, in the Discovery target zone. The project is located some 7 kilometres south of the Company's shallow Aburna gold project, the second of three significant discoveries made by the Alpha team on the Kerkasha licence.

John Wilton, CEO of Alpha, stated: "We are very pleased with results from our recently completed and highly successful H1 2026 Anagulu copper-gold porphyry project exploration campaign. These new drilling results have delivered several critical highlights that enhance the scale potential and our understanding of the Anagulu mineralization. Intercepts in RC holes ANR051, 052 and 053 confirm the new 1.25-kilometre-long Camel target zone to be related to a copper-gold-mineralized quartz-eye porphyry unit. The Camel target zone, as identified from the shallow RAB drilling, is completely untested for 1.1 kilometres to the southwest of these RC holes where its width and copper grade both increase. This untested 1.1 kilometres of the Camel target represents the largest, highest grade and most continuous near-surface copper anomaly at the project, surpassing those associated with the parallel Discovery zone. Two continuous zones of over 1,000 ppm copper, with RAB sample values ranging from 1,067 to 3,274 ppm copper, highlight the robustness of the target.

In addition, the quartz-eye porphyry-hosted copper-gold mineralization at the Discovery zone has been expanded some 60 metres to the northeast by an intercept in drill hole ANRD016, with other mineralized units associated with the porphyry system being intersected some 250 metres farther along trend. Also, the new RAB drilling data integrated with trench-sampling results indicate a target trend of some 700 metres long in the southwest of the Discovery zone with only limited drill testing that motivates further exploration drilling."

ANAGULU COPPER-GOLD PROJECT

The results of this 2026 phase of exploration are from 1,254 metres of core and 1,468 metres of RC drilling. The campaign comprised 8 RC drill holes, 3 existing RC holes extended with core drilling, and one new core hole. In addition, 5,921 metres of shallow RAB drilling in 716 holes to an average depth per hole of 7.8 metres were completed. The RAB drilling provides cost-effective top-of-bedrock sampling beneath thin regolith cover. This shallow drilling method is intended to identify and define near-surface copper anomalies, and as such their relationship to the true thickness of underlying copper-gold mineralization is currently unknown (see QA/QC section for more details). The new and existing drilling data are also being integrated with the results from 1,290 metres of shallow trenching in the western part of the Discovery zone.

Figure 1 compiles the new core and RC drilling results with those from the recently completed RAB programme along with the trench-sampling data. Figure 1 clearly shows the approximately 2.2-kilometre-long, northeast-southwest-trending zone of porphyry copper-gold host units and related copper anomalies (main map), located within the interpreted larger 4 by 2 kilometre porphyry system footprint (inset map).

DISCOVERY TARGET ZONE

Drill hole ANRD016 delivered a new intercept of 67.00 metres grading 0.38% copper and 0.10 g/t gold, including 34.00 metres grading 0.61% copper and 0.15 g/t gold, which, in turn, includes 12.00 metres grading 1.20% copper and 0.30 g/t gold. This intercept is interpreted to expand the quartz-eye porphyry-hosted mineralization for some 60 metres to the northeast.

Furthermore, also in the northeast of the Discovery zone, the new drill holes ANRD025, ANR054 and ANRD014 returned zones of copper-gold mineralization hosted in units associated with the porphyry system. This area extends from hole ANRD016 for some 250 metres along the trend of the system and is thought to provide a compelling target for further drilling in search of the higher-grade quartz-eye porphyry unit. Drill hole AND013 was collared between the Discovery and Camel target, and it intersected a number of intrusive diorite units, mainly unmineralized, within a package of predominantly meta-volcaniclastic host units.

The quartz-eye porphyry unit forms the core of the higher-grade copper-gold mineralization in the Discovery target zone. The recent RAB results, when compiled with the trenching data, indicate that there is also untested potential within the southwestern extension of the quartz-eye porphyry-hosted mineralization in the Discovery zone. This target extends from a sector with several drill holes, including previously reported intervals of 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 AND001 and ANR031, respectively, into an area some 700 metres along trend with only limited drill testing (see Figure 1).

CAMEL TARGET ZONE

RC holes ANR051, ANR052 and ANR053 were the first to test the Camel target zone. These holes were designed to investigate the geology and mineralization beneath the Camel target zone defined by the then still ongoing shallow RAB copper sampling programme (see Figure 1).

Importantly, these three drill holes were all successful in determining that the Camel target zone is related to porphyry-hosted copper sulphide and gold mineralization in bedrock, as previously proposed by the Alpha exploration team. The Camel target is now confirmed by the new drilling as a second porphyry target zone, with significant copper-gold mineralization trending parallel to the Discovery zone.

The three RC holes span only some 140 metres at the northeastern limit of the 1.25 kilometres along-trend extent of the Camel target. Figure 1 shows the complete results of the recent RAB drilling campaign and clearly illustrates the Camel zone's 1.25-kilometre-long extent, including its increase in width from some 125 metres in the northeast to 200 metres in the southwest. Figure 1 also demonstrates that the Camel zone RAB anomaly has two continuous higher-grade zones, containing over 1,000 ppm copper. Overall, it appears that the Camel target footprint has higher copper values than the original Discovery target zone and, in general, suggests that the copper tenor increases to the southwest.

ANR051, ANR052 and ANR053 intersected the Camel target at relatively shallow vertical depths of between 30 and 125 metres. Figure 2 depicts ANR051, the southwestern most drill hole, on a cross section; it returned intercepts of 10 metres grading 0.10% copper and 0.05 g/t gold and 25 metres grading 0.20% copper and 0.07 g/t gold, including 16 metres grading 0.26% copper and 0.09 g/t gold and 5 metres grading 0.13% copper and 0.07 g/t gold.

Drill holes ANR052 and ANR053 intersected 12 metres grading 0.14% copper with 0.08 g/t gold and 12 metres grading 0.09% copper with 0.05 g/t gold, respectively, which are interpreted as extensions of the Camel zone mineralization from ANRD051. The untested, 1.1-kilometre-long, higher-grade part of the Camel zone RAB copper anomaly is seen as a compelling exploration target with the potential to increase the size and scale of the mineralized footprint at Anagulu.

NIGHTJAR TARGET ZONE

ANR057 and ANR058 were completed to depths of 167 and 154 metres, respectively, as an initial test of the 1 kilometre along trend Nightjar target zone, located some 2 kilometres northeast of the area of significant drilling to date. Both drill holes cut intrusive diorite porphyry, with anomalous copper and gold values confirming the validity of the RAB target (see Figure 1, inset map and Table 1 for details). ANR058 intersected 16 metres grading 0.13 g/t gold from 14 metres, and 0.05% copper. These results and the geological log of the drill chips will be compiled to generate further exploration targets at Nightjar where ground geophysics may also be employed.

Table 1 provides full details of the drill intercepts and table 4 includes drill hole ID, azimuth, hole, end of hole depth, collar coordinates and comments.

Figure 1: Anagulu Project, Expanded Camel Target Zone, Locations of New Drill Holes, Additional RAB Sampling, and Trench Sampling Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8361/309881_bea1d0a78499aa5b_002full.jpg

Figure 1 notes: Based upon current data and interpretation the reported drill intercepts have estimated true widths ranging between 50% and 70% of the drilled intersections. The RAB drilling method is intended to identify and define near-surface copper anomalies its relationship to the targets true thickness is unknown at this time. Trench results based upon current data and interpretation have estimated true widths ranging between 70% and 90% of the composite intervals. For more information see tables of data, footnotes and QA/QC sections below. Previously reported results in Alpha Exploration news releases; Alpha Further Expands Footprint of Anagulu Copper-Gold Porphyry Prospect and Discovers New Nightjar Target Zone Measuring 1 x 0.15km, June 24, 2026, Alpha Expands the Footprint of the Anagulu Copper-Gold Porphyry and New Camel Target Zone Measures at Least 1 x 0.25km, April, 2026, Alpha Expands Anagulu Porphyry Mineralisation with Drill Intercept of 120 metres grading 0.30% Copper and 0.47 g/t Gold, February 24, 2026, Alpha Exploration announces final 2024 drilling results at Aburna Gold and Anagulu Gold Copper prospects and updates exploration plans for 2025, March 21st 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: Anagulu Project: ANR051 Drill Results, Camel Target Zone, Discovery Target Zone, Cross Section SS-40

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8361/309881_bea1d0a78499aa5b_003full.jpg

Figure 2 notes: Based upon current data and interpretation the reported drill intercepts have estimated true widths ranging between 50% and 70% of the drilled intersections. Previously reported results in Alpha Exploration news releases; Alpha Further Expands Footprint of Anagulu Copper-Gold Porphyry Prospect and Discovers New Nightjar Target Zone Measuring 1 x 0.15km, June 24, 2026, Alpha Expands the Footprint of the Anagulu Copper-Gold Porphyry and New Camel Target Zone Measures at Least 1 x 0.25km, April, 2026, Alpha Expands Anagulu Porphyry Mineralisation with Drill Intercept of 120 metres grading 0.30% Copper and 0.47 g/t Gold, February 24, 2026, Alpha Exploration announces final 2024 drilling results at Aburna Gold and Anagulu Gold Copper prospects and updates exploration plans for 2025, March 21st 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: Anagulu H1 2026: Drilling Results with Depth, Intervals, Copper and Gold Grades

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 18 metres of internal dilution of the intercepts. * Previously reported data (see Note Figure 2 for reference). + 22 metres of internal dilution for this intercept.++ A nominal cut-off grade of 0.05% Cu has been used to determine the boundaries of these intersections with no more than 7 metres of internal dilution of the intercepts. ** 0.1 g/t Au has been used to determine the boundaries of this intersection with no more than 7 metres of internal dilution and with no more than 3 consecutive sample below cut-off grade.

Table 2: New RAB Drilling Selected Results

Table 2 Notes: RAB drill sampling results reported are from representative material from the deepest two, one-metre, samples of each RAB drill hole which are analysed by pXRF with the peak copper value, one metre sample reported, and as this drilling method is intended to identify and define near-surface copper anomalies its relationship to the targets true thickness is unknown at this time (see QA/QC section for further sampling & analytical details).

Table 3: Trench Sampling Selected Results

Table 3 Notes: The trench are sampled at one metre intervals over their entire length, a representative sample across each one metre is collected of approximately 2.5 Kg. The trench samples are prepared at independent laboratory in Asmara (NABRO) by crushing and pulverising an approximately 100g aliquot for analysis was taken with QA/QC samples inserted every 25th field sample and analysed by Portable X-ray Fluorescence ("pXRF") within the Company's field laboratory in Asmara, Eritrea (more details in QA/QC section). Based upon current data and interpretation it is estimated true widths range between 70% and 90% of the composite intervals. A nominal cut-off grade of 500ppm Cu has been used to determine the boundaries of these composites with no more than 7 metres of internal dilution of the intercepts, and not more than 2 consecutive metre samples below the cut-off grade.

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, DC and RAB 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 20th 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 element package ("4A") and low-level sulphur 50ppm ("OM48") with mass spectrometry ("MS") finish (Intertek Code: 4A/OM48).

For the RAB drilling, representative material from bedrock and weathered bedrock for the deepest two 1-metre samples of each RAB drill hole were screened to provide approximately 200 grams ("g") of minus 75-micron material. Trench samples are collected and processed in-line with the standard operating procedures implemented at this project. Start and end points of each trench are located by GPS. The trenches are some 1 m in depth and 0.5 m in width excavated by backhoe. The 1-metre sample intervals are marked using spray paint over the entire length to be sampled. A representative sample of approximately 2.5 kg is collected across each 1 metre interval. The trench samples are prepared at an independent laboratory in Asmara (NABRO) by crushing (to >90% passing 2.0 mm) and pulverised (to >85% passing 75 microns). A scoop sample of approximately 100 g for analysis was taken. For the RAB and trench samples, an aliquot is collected using a scoop and a sub-sample analysed with QA/QC samples inserted every 25th field sample analysed by portable X-ray Fluorescence ("pXRF") at the Company's field laboratory in Asmara, Eritrea. The pXRF is routinely monitored by the QA/QC sample results to check its calibration. The pXRF instrument used is an Olympus Vanta M-series VMR with a 50Kv, 0.2mA tube.

Table 4: Drillhole ID, Azimuth, Dip, End of Hole Depth, Collar Coordinates and Comments

Table 5: RAB Drilling Hole ID, Azimuth ("Az"), Hole Dip, End of Hole Depth ("EOH"), Collar Coordinates

Table 6: Trench Sampling ID, Azimuth ("Az"), Trench Dip, Length, Centre Point Coordinates

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 it has made across the 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 18 m @ 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 with recent drilling intersections of 108 m @ 1.24 g/t Au and 0.60% Cu including 49 m @ 2.42 g/t Au and 1.10% Cu, and 109 m @ 0.79 g/t Au and 0.35 % Cu within a porphyry unit drilled over 2 km along trend, and with an overall and expanding exploration target footprint of some 4 by 2 km.

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 gold and base metal discoveries in Eritrea, across the wider Arabian Nubian Shield, and in other regions of Africa.

For further information go to the Alpha webpage at www.alpha-exploration.com or contact:

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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