ALPHAMIN RESOURCES CORPORATION - Declaration of dividend for the year ended 31 December 2021

Declaration of dividend for the year ended 31 December 2021

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

DECLARATION OF DIVIDEND FOR THE YEAR ENDED 31 DECEMBER 2021

The board of directors of Alphamin Resources Corp. (“Alphamin” or the “Company”) is pleased to
announce the declaration of a cash dividend number 1 in the gross amount of CAD$0.03 per
Alphamin share, being the equivalent of ZAR0.369927 (36.9927 cents) per Alphamin share
(based on an exchange rate of CAD$1.00 = ZAR12.3309 as at 10 January 2022).

The salient dates of the cash dividend on the Johannesburg Stock Exchange (“JSE”) are as
follows:

                                                                                     2022
 Declaration of cash dividend                                          Monday, 10 January
 Last day to trade cum cash dividend                                  Tuesday, 1 February
 Alphamin shares commence trading ex-dividend                       Wednesday, 2 February
 Record date to receive the cash dividend                              Friday, 4 February
 Payment date of the cash dividend                                    Friday, 11 February

Shares certificates on the South African branch register may not be rematerialised or
dematerialised between Wednesday, 2 February 2022 and Friday, 4 February 2022, both days
inclusive, nor may transfer between the Canadian share register and the South African share
register take place between Wednesday, 2 February 2022 and Friday, 4 February 2022, both
days inclusive.

In accordance with the JSE Listings Requirements, the following additional information is
disclosed for South African resident shareholders:

1.   the cash dividend has been declared out of income reserves and is being sourced from the
     Republic of Mauritius;
2.   Alphamin has no tax registration in South Africa;
3.   the local dividend tax (“Dividend Tax”) rate is 20%, resulting in a gross cash dividend of
     CAD$0.03 (ZAR0.369927) and a net cash dividend amount of CAD$0.024 (ZAR0. 2959416)
     for South African shareholders who are not exempt from paying Dividend Tax;
4.   Alphamin has 1 262 655 970 shares in issue; and
5.   Alphamin shareholders who are in doubt as to their tax status or position, including any
     exchange control requirements, should consult an appropriate independent professional
     advisor in their relevant jurisdiction without delay.

This announcement is applicable to holders of Alphamin shares on the JSE.

11 January 2022

JSE Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 11-01-2022 08:30:00
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