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Alphamin Provides Updates on Mining and Processing Congo Subsidiary

Alphamin Resources Corp. ("Alphamin" or the "Company") announced today updates in relation to its wholly owned DRC operating subsidiary company, Mining and Processing Congo SARL ("MPC").

The following updates were provided:

  1. The Financial Statements of MPC for the year ended 31st December 2014 have been finalised and signed off by the auditors of the entity, PricewaterhouseCoopers in DRC. These have been approved at the Annual General Meeting held on the 25th March 2015.
  2. In line with Article 71 of the Mining Code 2002, 5% of the Class B shares of MPC were issued to the Government of the Democratic Republic of Congo with effect from the 25th March 2015.
  3. The Government of the Democratic Republic of Congo ("DRC") have been awarded a seat on the Board of Directors of MPC. Mr. Clement Mushengezi was appointed as the representative of the DRC subject to regulatory approval.
  4. MPC has changed its name to Alphamin Bisie Mining SARL ("ABM") with effect from the 25th March 2015.
  5. ABM also changed its status from a Société à Responsabilité Limitée ("SARL") to a Société Anonyme avec Conseil d'Administration ("SA"), such that it is now called Alphamin Bisie Mining SA ("ABM").

The Board of Alphamin welcomes the Government of DRC as a shareholder of ABM and its representative, Mr. Clement Mushengezi as a new Board member of ABM.

ON BEHALF OF THE BOARD OF DIRECTORS

Bruce Curling, Chief Executive Officer

Source: http://alphaminresources.com/

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