AEX Nets Aex Index Fund

Earlier this year, Alpha Exploration's Ben and Garrett Ainsworth received the Association of Mineral Exploration British Columbia's 2013 Colin Spence award for Excellence in Global Mineral Exploration for their role in the discovery and development of the Patterson Lake South (PLS) deposit in the Athabasca Basin.

Ben Ainsworth is president and CEO of the company and Garrett Ainsworth is vice president of exploration.

In making the award, the Association stated that PLS is "a classic discovery story" where the Ainsworths were instrumental in advancing an idea in 2007 that eventually resulted in the discovery of a mineralized boulder train and the "spectacular" intersection of pitchblende in drill holes in 2012 and 2013.

In accepting the award, Garrett Ainsworth said he and his father had always made a great team exploring for shareholder value, and a discovery as significant as PLS made the experience "even more surreal."

Ben Ainsworth says Garrett was the "boots on the ground leader" of the project from 2007 to June 2013, and dedicated more than 95 per cent of his time to field work during every work program at PLS.

"His first-hand knowledge, interpretation of data and passion for PLS was instrumental in the discovery," says Mr. Ainsworth.

If nothing else, Ben and Garrett Ainsworth know how to find some of the best uranium deposits in northern Saskatchewan. The father and son team proved it in 2012 when drill holes intersected what was to become known as the Patterson Lake South project (PLS), a world-class discovery of high grade, shallow-depth uranium in a section of the famed Athabasca Basin that had been overlooked for years by other explorers.

Their company at the time, Alpha Minerals, was subsequently acquired by their joint venture partner, but the knowledge they gained at PLS is now being applied in a new venture, Alpha Exploration (TSX-V:AEX), that is aiming to replicate their previous successes.

For Garrett Ainsworth, vice president of exploration at AEX, that means continuing with the same grassroots prospect generation that lead to the PLS discovery. The key, he says, is to focus on the fundamentals of uranium exploration and leverage the company's significant knowledge base, technology, and experience.

"One of the first things I do when I get a project on my plate is to find out what publicly available information there is for that project, then I know what steps to take next," says Mr. Ainsworth.

In essence, that's what lead to the PLS discovery; a careful review of a Saskatchewan government research report that mentioned radon anomalies and "exotic boulders". It was enough information to convince the Ainsworths to stake the land and, after further field work, they confirmed the presence of a uranium-bearing boulder field.

With the PLS discovery under his belt, Garrett Ainsworth is now focused on new prospects including Middle Lake, one of the properties that was spun out of the Alpha Minerals acquisition and retained by AEX.

"At the time that I was doing historical compilation work for PLS, I was doing the same for Middle Lake," he says. "Many of the characteristics of Middle Lake are very similar to PLS and we are currently drilling to see what we actually have, but uranium exploration projects don't get much better than Middle Lake."

Mr. Ainsworth adds that everything the company learned at PLS about boulders and tracking them back to a bedrock source is being applied at Middle Lake and it fits.

"Middle Lake is as prospective of a property as PLS was before drill discovery in November 2012," he says. "Other encouraging attributes of Middle lake include its shallow target depth of 10m to 20m, and close proximity to known mineralization at the decommissioned Cluff Lake Mine."

For Ben Ainsworth, Middle Lake will benefit not only from the lessons of PLS, but also the depth of leadership and dealing making experience within AEX. The company's current chairman and lead technical advisor, Michael Gunning, took Hathor Exploration, another Saskatchewan uranium property, from discovery, through delineation and PEA stage to sale to Rio Tinto for $654 million in 2012. Ben Ainsworth is a former vice president of exploration at Hathor.

He says operating in Saskatchewan means that AEX is in the heart of the largest uranium producing region in the world where there are geological settings with a proven record of high-grade uranium discoveries. It also places the company in one of the most mining-friendly jurisdictions in Canada.

"Saskatchewan is an exceptionally good place for uranium mines, and the province has a proven regulatory framework conducive to mineral exploration and development," says Mr. Ainsworth.

"But that doesn't mean that just about anyone can actually discover uranium; it takes skills, knowledge, experience – and a little bit of luck," he adds.

"Back in the '70s, reactor construction companies thought that there was a pound of uranium behind every spruce tree in Canada and that we would be able to supply the fuel. It turns out it's not that easy," says Mr. Ainsworth. "Finding uranium is very difficult and there are not many places in the world that have Athabasca-type deposits. What we have here is very special."

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CONTACT: Alpha Exploration Inc.
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