Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

January 09, 2008 14:04 ET

Alexandria Announces 4.07 g/t Gold Over 8.65 m at Orenada 2, Val d'Or, Quebec

TORONTO, ONTARIO--(Marketwire - Jan. 9, 2008) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) intersected 4.07 g/t Au over 8.65 m in DDH OAX-07-32, which is part of a wider zone grading 2.32 g/t Au over 18.45 m, at Orenada 2 in Val d'Or, Quebec (all drill widths are core lengths).

DDH OAX-07-32 intersected the target Cadillac Break shear zone at 180 m vertical depth, 140 m down plunge from previously announced DDH OAX-07-16, which intersected 11.44 g/t gold over 8.65 m (Press release October 15, 2007), and 100 m up-plunge from previously announced DDH OAX-07-28, which intersected 4.11 g/t gold over 2.75 m (Press Release December 20, 2007). Hole 32 is one of the eastern most holes at Orenada 2, and the zone is open to the east.

Also at Orenada 2, DDH OAX-07-34 intersected 2.16 g/t gold over 3.90 m at 30 m vertical depth near the historic surface showing. DDH OAX-07-31, drilled 60 m down dip from OAX-07-32, intersected 2.90 g/t gold over 2.80 m at a vertical depth of 240 m. Drilling to-date has identified gold-bearing zones at Orenada 2 which are encompassed by a mineralized envelope measuring 480 m long by 420 m deep that remains open in all directions.

At Orenada 4, DDH OAX-07-30 hit the target Cadillac Break at 490 m vertical depth, intersecting several gold-bearing zones over a 36 m core length, including 2.67 g/t gold over 2.95 m and 2.29 g/t gold over 2.95 m. Hole 30 was drilled 100 m east of previously announced DDH OAX-07-13A, which intersected 3.24 g/t gold over 10.5 m (Press Release August 15, 2007), and shows that the shear zone hosts encouraging gold values at depth.

An updated longitudinal section can be viewed by visiting the Company's website, or clicking the following link: http://www.azx.ca/currentdrilling.asp.



Table of Assay Results
---------------------------------------------------------
Drill True
From To Width Width Au
Hole # (m) (m) (m) (m) g/t
---------------------------------------------------------
OAX-07-30 558.35 562.85 4.50 3.50 1.80
---------------------------------------------------------
incl. 558.35 561.30 2.95 2.29 2.67
---------------------------------------------------------
565.30 568.45 3.15 2.81 1.05
---------------------------------------------------------
574.15 578.40 4.25 2.72 1.64
---------------------------------------------------------
incl. 574.15 577.10 2.95 1.89 2.29
---------------------------------------------------------
593.80 594.90 1.10 0.84 1.29
---------------------------------------------------------

---------------------------------------------------------
OAX-07-31 225.95 230.90 4.95 3.50 1.75
---------------------------------------------------------
incl. 228.10 230.90 2.80 1.98 2.90
---------------------------------------------------------
269.20 270.30 1.10 0.68 1.26
---------------------------------------------------------

---------------------------------------------------------
OAX-07-32 133.05 151.50 18.45 12.58 2.32
---------------------------------------------------------
incl. 133.05 141.70 8.65 5.90 4.07
---------------------------------------------------------
148.10 150.30 2.20 1.50 2.86
---------------------------------------------------------
187.20 188.45 1.25 0.63 1.09
---------------------------------------------------------

---------------------------------------------------------
OAX-07-34 10.30 14.20 3.90 3.07 2.16
---------------------------------------------------------
127.35 127.80 0.45 0.32 3.02
---------------------------------------------------------


The Company is continuing its compilation of historic data at Orenada, expected to be largely completed over the next few weeks. Analysis of the Company's results to-date, together with preliminary evaluation of the historic data, suggests higher gold values preferentially occur along a series of sub-horizontal trends within the Cadillac Break shear zone. Typically, gold is associated with pyrite, arsenopyrite, biotite and sericite, in zones with significant quartz and carbonate, similar to that found at Agnico Eagle's Lapa deposit (Probable Reserves of 1.2 million ounces) located 40 km west of Orenada along the Cadillac Break.

In 2007, Alexandria completed 39 holes at Orenada, and assays are still pending for 5 of these holes. The Company will continue to drill test Orenada in 2008, with an emphasis on testing open areas along strike and at depth in an effort to seek deeper high grade zones as well as continue to evaluate the potential for wide, lower grade near-surface mineralization.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Person, Eddy Canova, PGeo. The drilling program employs a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Drill core is NQ-sized, and is logged, sampled and split at the Company's Val d'Or office, in intervals of 0.3 meters to a maximum of 1.5 meters. The samples are recorded, bagged and sent to Bourlamaque Assay Lab in Val-d'Or for assay. Samples are analyzed for Au, Ag, Cu and Zn, via a 30 gram pulp by FAA for Au and AA for Ag, Cu and Zn. Re-assays by FA gravimetric finish are performed on samples assaying greater than 1.0 g/t Au and re-assays greater than 5.0 g/t Au are checked a second time by FA gravimetric finish.

The Company holds the Orenada Property pursuant to an option Agreement with Aur Resources (now Teck Cominco Limited) whereby it may earn an initial 50% interest in a group of properties by making $200,000 in cash payments, issuing $300,000 worth of Alexandria Minerals Corp. shares and incurring $3 million on work prior to July 31, 2011. To date the Company has made $80,000 of payments, issued $100,000 in shares and delivered an expenditure notice to Teck Cominco for over $ 3 million in expenditures. The Company can earn the remaining 50% interest (for a 100% interest subject only to a 2.5% NSR payable to Teck Cominco) by incurring an additional $5 million (for $8 million in aggregate) prior to July 31, 2014.

Alexandria Minerals Corp. is a Toronto--based mineral exploration and development company, currently focused on the exploration for precious metals on mineral properties located in Northern Ontario and Quebec. The Company's management has extensive global experience with small to large mining companies, from grass-roots exploration to the exploitation of mineral deposits. The Company is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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