ALPHAMIN RESOURCES CORPORATION - Alphamin completes drawdown of US$25 million under credit facility and provides update on revised mining code in DRC

Release Date: 08/06/2018 08:33
Code(s): APH
 
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Alphamin completes drawdown of US$25 million under credit facility and provides update on revised mining code in DRC

Alphamin Resources Corp.
Continued in the Republic of Mauritius
Date of incorporation: 12 August 1981
Corporation number: C125884 C1/GBL
TSX-V share code: AFM
JSE share code: APH
ISIN: MU0456S00006
(“Alphamin” or the “Company”)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR
DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA,
JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO
COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH
JURISDICTIONS.

  ALPHAMIN COMPLETES DRAWDOWN OF US$25 MILLION UNDER CREDIT FACILITY AND PROVIDES
         UPDATE ON REVISED MINING CODE IN THE DEMOCRATIC REPUBLIC OF CONGO

MAURITIUS – June 7, 2018 – Alphamin Resources Corp. (AFM: TSXV, “Alphamin”, or the “Company”) is pleased
to announce that it has completed a US$25 million drawdown under its previously announced credit facility of up to
US$80 million (the “Credit Facility”). In addition, the Company converted US$3.396 million of debt due to Sprott
Private Resource Lending (Collector), L.P., Barak Fund SPC Limited and the Company’s 44.86% shareholder,
Tremont Master Holdings, in connection with the Credit Agreement into 17,389,387 common shares of the
Company (the “Common Shares”) at a price of C$0.25 per Common Share (the “Debt Settlement”).

The Common Shares issued pursuant to the Debt Settlement are subject to a minimum hold period of four months
and one day from the date of issuance, expiring on October 8, 2018. The Debt Settlement remains subject to final
approval of the TSX Venture Exchange.

On March 28, 2018 a revised mining code (the “Revised Mining Code”) was published in the official gazette in the
Democratic Republic of Congo (“DRC”), becoming law following the signing in by the president of DRC, Joseph
Kabila, on March 9, 2018. Based on the Revised Mining Code, it appears that the Company could be subject to a
higher royalty rate of 3.5% payable to DRC, up from 2%, and potentially higher taxes, as a result of reduction in tax
deductible expenses. The Company notes that article 220 of the Revised Mining Code states that companies
developing projects in infrastructure poor provinces, such as Alphamin, may be able to take advantage of certain
exemptions. The Company is currently in the process of assessing the Revised Mining Code and the applicable
regulations, and their impact on Alphamin.

The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933
Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or
benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such registration requirements is available.

FOR MORE INFORMATION, PLEASE CONTACT:

Boris Kamstra
Chief Executive Officer
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: boris.kamstra@alphaminresources.com
Grand Baie, Mauritius

8 June 2018

JSE Sponsor
Nedbank Limited (acting through its Corporate and Investment Banking Division)


CAUTION REGARDING FORWARD LOOKING STATEMENTS
Information in this news release that is not a statement of historical fact constitutes forward-looking information.
Forward-looking statements contained herein include, without limitation, statements relating to the impact of the
Revised Mining Code on the Company, Company’s evaluation of the Revised Mining Code, and final approval of
the TSX Venture Exchange. Forward-looking statements are based on assumptions management believes to be
reasonable 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.
Accordingly, 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
intended. Factors that may cause actual results to differ materially from expected results described in forward-
looking statements include, but are not limited to those risk factors set out in the Company’s Management
Discussion and Analysis and other disclosure documents available under the Company’s profile at www.sedar.com.
Forward-looking statements contained herein are made as of the date of this news 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, except as 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 news release.

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