Alpha Exploration Inc. and Lakeland Resources Inc. announced the terms of a proposed transaction whereby Lakeland and Alpha will merge to form a consolidated, well financed uranium exploration company (CombineCo). As well, upon completion of the proposed Transaction, the directors and officers of CombineCo will be reconstituted to consist of six directors, of which three nominees shall be made by each of Lakeland and Alpha. Jonathan Armes, currently CEO of Lakeland, will serve as President and CEO and a director of CombineCo, Dr. Michael Gunning, the current CEO of Alpha, will be Executive Chairman and a director of CombineCo, and Sierd Eriks, the current VP Exploration for Alpha will be VP Exploration of CombineCo.

Certain former directors of Alpha are anticipated to continue to serve as technical advisors to the board of directors of CombineCo.