ALPHAMIN RESOURCES CORPORATION - Alphamin Announces Award of Stock Options and SAR Equivalent Shares

Alphamin Announces Award of Stock Options and SAR Equivalent Shares

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")


ALPHAMIN ANNOUNCES AWARD OF STOCK OPTIONS AND SAR EQUIVALENT SHARES


GRAND BAIE, MAURITIUS – March 14, 2024 – Alphamin Resources Corp. (TSXV: AFM, JSE AltX:
APH, "Alphamin" or "the Company") announced today that, subject to regulatory approval, it has
awarded stock options and SAR Equivalent Shares pursuant to its Omnibus Incentive Plan. The
Company has granted stock options to acquire an aggregate of 5,900,000 common shares to employees
and directors of an Alphamin subsidiary, with each option exercisable for a seven year term to acquire
one common share at a price of C$0.96 per share. 5,500,000 of the options granted vest over a two
year period from the date of grant. 400,000 of the options granted vest over a three year period from
the date of grant.

The Company has also authorized the issuance of 2,100,000 SAR Equivalent Shares ("SARES") to two
senior officers of the Company. The SARES are functionally equivalent to stock appreciation rights
however, any entitlements are satisfied by dividend payments on the SARES. The reference price for
the SARES awarded is C$0.96 and dividends shall be payable on the SARES (to the the extent that
they are "in-the-money") on the first, second and third anniversaries of the date of award.

FOR MORE INFORMATION, PLEASE CONTACT:

Maritz Smith
CEO
Alphamin Resources Corp.
Tel: +230 269 4166
E-mail: msmith@alphaminresources.com


14 March 2024

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




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                      The above media statement and accompanying material for media use are issued by
                    ALPHAMIN RESOURCES CORP. without embargo unless an embargo is indicated above

Date: 14-03-2024 03:30:00
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