AEX Nets Aex Index Fund

ALPHA EXPLORATION INC. ("Alpha" or the "Company") (TSX-V:AEX) has begun its winter 2015 exploration program at its Middle Lake Property ("Middle Lake" or the "Property") located adjacent to the former Cluff Lake uranium mine in the western Athabasca Basin of northern Saskatchewan.

The Middle Lake winter exploration program is mainly drilling but includes an extension to the ground gravity survey carried out in 2014, and infill radon sampling between existing grids. This work will be completed before drilling commences in early February. Approximately 2,500 metres of diamond drilling is planned in up to 25 holes located around Skull Lake in the northwestern part of the Property. Drilling is anticipated to take approximately 4 weeks to complete.

Please see the Company's website at www.alpha-aex.com for property location maps and summary exploration figures for Middle Lake, including proximity to Cluff Lake deposits.

Corporate Update

Alpha Exploration is pleased to announce it has transitioned from its interim corporate structure following its AGM last fall. Dr. Michael H. Gunning will assume a full time role as President and CEO, and the Company appoints Sierd Eriks as full time Vice-President, Exploration. Dr. Gunning's achievements in the industry are well established and are summarized on the Company's website, and the Company looks forward to his ongoing technical input and strategic guidance. Sierd Eriks' extensive experience in the Athabasca Basin will contribute immediately to the Company's activities. The Company wishes to thank Dr. Gunning and Mr. Warren Stanyer, both active Board members, for providing support of corporate and exploration activities during the interim period.

The Company has granted 500,000 incentive stock options under its incentive stock option plan to certain directors, officers, employees and consultants in relation to this corporate transition. The options are exercisable at 10 cents for a period of five years from the date of grant. All options are subject to a four-month hold period and are granted in accordance with the terms of the Company's stock option plan.

About Middle Lake Property

The Middle Lake Property is one claim covering 2,416 hectares. The Property is situated adjacent to the decommissioned Cluff Lake Mine site, where approximately 62 million pounds of uranium were extracted through a combination of 3 open pit mines and 4 underground mines by predecessors of AREVA Resources Canada ("AREVA") (see AREVA website at www.areva.com).

Middle Lake is a joint venture with Acme Resources Inc., which holds a 20 percent carried interest. Please see the Company's website at www.alpha-aex.com for details of the option agreement. The Property is 10 km (approx.) north of Shea Creek uranium deposit currently being explored by AREVA and UEX Corporation, 75 km (approx.) north of Patterson Lake South (PLS) uranium deposit, and approximately 250 km north of La Loche, all connected by Highway 955. (For reference Athabasca Basin Map )

About Alpha Exploration Inc.

Alpha is a mineral exploration company focused on uranium in the Athabasca Basin in northern Saskatchewan, Canada. The Company is based in Vancouver and its common shares are listed on the TSX Venture Exchange under the symbol "AEX". Alpha is well-financed to actively explore a portfolio of early-stage properties. Technical reports are available on SEDAR (www.sedar.com) for three of the Company's active properties. Alpha continually and proactively reviews opportunities for new properties, whether by staking, joint venture or acquisition.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and has been reviewed and approved on behalf of the Company by Dr. Michael H. Gunning, PhD, PGeo, a qualified person.

The Board of Directors of Alpha Exploration Inc. 

"Board of Directors" 

Alpha Exploration Inc. Board of Directors

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains "forward-looking information" that is based on Alpha's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Alpha's exploration and development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Alpha's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Alpha disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

CONTACT: For corporate communications please contact:
         
         Robert (Bob) Meister
         Alpha Exploration Inc.
         info@alpha-aex.com
         Trading Symbol:  TSX-V - AEX