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Clarification of Announcement

  Download PDF - Thursday 2nd May 2013 at 14:44 GMT

ALPHA PROSPECTS PLC
("Alpha" or the "Company")

CLARIFICATION OF ANNOUNCEMENT

The Directors of Alpha are pleased to clarify a statement in the Company's announcement of Interim Results issued on 24 April 2013.

The Interim Results included the following statement:

"Although the licence EL 14/2009 is under appeal by Mineral Resources Tasmania, the State Ministry, we are confident, having taken legal advice, that the appeal will be dismissed and that we have secured a very valuable interest."

Whilst that statement remains correct in so far as it reflects the Directors' confidence in the eventual outcome of the litigation, the statement was unclear as to the positions of the parties involved in the legal action relating to Licence EL 14/2009 (the "Licence").

For the avoidance of doubt, the receivers of Great South Land Minerals Limited ("GSLM"), the company originally awarded the Licence, are appealing against the decision of Mineral Resources Tasmania to refuse to extend the Licence; the Directors are confident, having taken legal advice, that GSLM's appeal will be successful.

The Directors apologise for any confusion caused by the original statement.

The Directors of the issuer accept responsibility for this announcement.

Enquiries:

ALPHA PROSPECTS PLC Christopher Foster +44 20 7518 4300
PETERHOUSE CORPORATE FINANCE LIMITED Fungai Ndoro / Eran Zucker +44 20 7469 0932