Private Placement of up to 5,000,000 Units

Suite 381, R 142 - 757 West Hastings Street, Vancouver, B.C. V6C 1A1 Tel: (604) 687-4432 Fax: (604) 687-4709 www.alphaminresources.com

News Release 2010-02

PRIVATE PLACEMENT OF UP TO 5,000,000 UNITS

Vancouver, Canada – December 20, 2010 - Alphamin Resources Corp. (AFM: TSX Venture Exchange) is pleased to announce a non-brokered private placement of up to 5,000,000 Units at a price of $0.20 per unit for gross proceeds of $1,000,000. Each unit shall be comprised of one (1) common share and one-half (1/2) of one (1) nontransferable share purchase warrant, each whole warrant entitling the holder to purchase one (1) additional common share of the Company at a price of $0.25 per share for a period of two (2) years from the closing date of the placement. The placement is subject to regulatory acceptance.

The placement proceeds will be used by the Company for general working capital and continued exploration work on the Company’s properties in Mexico.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “A. Cameron Richardson”

A. Cameron Richardson, Director

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.