Alloa got off to their dream start when Robert Sloan was on hand to knock in a Graeme Brown cross from close range in the first minute.
The early goal stung Stirling Albion into action, and in the fourth minute Dene Shields' 15-yard shot went narrowly over the bar with the Alloa keeper well beaten.
In the 20th minute Alloa came back and a Brian McColligan's 20-yard shot was smothered and cleared by Myles Hogarth in the Albion goal.
Stirling built up pressure and were rewarded in the 42nd minute when Colin Cramb equalised from a Marek Tomana cross that beat a static Alloa defense.
The opening minutes of the second half saw the Alloa defence pinned back by a strong Albion attack, and Steven Bell gave Stirling the lead in the 58th minute when he finished off outstanding play between Tomana and Cramb.
Albion were reduced to 10 men in the 77th minute when Ross Forsyth was sent off for a second bookable offence. The referee had failed to recognise it was the player's second caution, and it was the stand-side linesman who brought the referee's attention to the fact that he had previously booked Forsyth.
Alloa tried to get an equaliser in the closing minutes of the match, but were unable to break down the Stirling defence.