The 60/40 joint venture between Alpha and Noka will manage exploration activities on the property.
In January, the companies had entered into an option and joint venture agreement.
Under the deal, Alpha was required to pay $50,000 in cash, issue 400,000 common shares and spend $1.25m in exploration to earn 60% stake in the property.
Alpha Exploration said it will announce further details on follow-up exploration after programs and budgets are reviewed and approved by the joint venture.
Located around 85km west of the past-producing Key Lake uranium mine, the Carpenter Lake mine covers 20,637 hectares within five contiguous mineral dispositions. It spans the Cable Bay Shear Zone, and straddles the southern margin of the Athabasca Basin.
