Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

October 31, 2007 07:24 ET

Alexandria Extends Orenada 2 at Depth, Intersects 2.45 g/t Gold Over 13.65 m

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) intersected 2.45 g/t Au over 13.65 m in hole OAX-07-19, including 4.12 g/t Au over 4.60 m, at 335 meters vertical depth, making it the deepest hole penetrating Orenada 2 to-date (all reported widths are core lengths). Assay results from fourteen holes remain pending as the Company continues to enlarge the gold-bearing zones at its Orenada project.

These results occur 225 meters down dip from previously reported hole OAX-07-16, which yielded 11.44 g/t Au over 8.15m (Press release, October 16, 2007), and substantially increase the size of near-surface mineralization at Orenada 2.

The Company believes Orenada, which is located 6 km southeast of Agnico Eagle's Goldex Project (underground reserves and resources of 2.4 million ounces Au at 2.39 g/t Au), is part of a large gold-bearing system along the Cadillac Break where significant gold mineralization has been intersected in drill holes and trenches over a minimum strike length of 4 kilometers. This zone remains open to the east and west, and at depth, where little or no historic exploration has taken place.



Table of Assay Results

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Core True
Hole # From To Length(m) Width(m) Au (g/t)
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OAX-07-17 401.30 405.80 4.50 3.50 1.19
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OAX-07-18 7.00 10.65 3.65 2.58 0.55
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93.40 104.15 10.75 7.60 0.30
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Incl 101.80 104.15 2.35 1.66 0.83
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123.95 127.10 3.15 2.02 0.39
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OAX-07-19 336.35 359.20 22.85 18.72 0.65
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382.20 383.00 0.80 0.46 1.94
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388.85 410.20 21.35 13.72 1.59
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Incl 388.85 392.50 3.65 2.35 3.69
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and 390.25 403.90 13.65 8.77 2.45
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and 394.85 399.45 4.60 2.96 4.12
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Historic Drilling
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407-22 410.02 423.18 13.16 9.31 3.11
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Incl 410.02 414.89 4.87 3.44 8.12
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407-23 463.42 469.30 5.88 4.16 2.07
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407-24 389.08 412.39 23.31 16.48 1.72
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Incl 398.59 410.66 12.07 8.53 2.07
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Also at Orenada 2, drill hole OAX-07-18, a near surface hole drilled 50 m above OAX-07-16, yielded 0.30 g/t Au over 10.75 m. These results suggest that the hole is located near the edge of the gold-bearing zone at Orenada 2. Alexandria has intersected similar results from exploratory holes elsewhere on the Cadillac Break properties, and views such results as targets with potential for follow-up exploration.

At Orenada 4, drill hole OAX-07-17 intersected 1.45 g/t over 3.45 m at a vertical depth of 400m, including a grade of 5.24 g/t Au over 0.80 m. These results extend mineralization 270 m east of previously reported hole OAX-07-13A, which intersected 2.60 g/t Au over 14.40 m(Press release, August 15, 2007).

As part of ongoing activities, the Company has been compiling historic exploration data from the Cadillac Break properties, including drill hole information from Orenada. Three deep historic holes drilled by Aur Resources Inc. at Orenada 4, within the 240 m gap between holes OAX-07-13 and OAX-07-17, intersected strong gold values, including 8.12 g/t Au over 4.87 m (Hole 407-22) and 2.07 g/t Au over 12.07 m (Hole 407-24).

Further information can be viewed by clicking the link http://www.azx.ca/currentdrilling.asp or visiting the Company's website, www.azx.ca.

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.

NOTICE: 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.

Contact Information

  • Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200
    (604) 662-4547 (FAX)
    Email: dale@coal-harbor.com
    or
    Alexandria Minerals Corporation
    Eric Owens
    President and CEO
    (416) 363-9372
    Email: info@azx.ca
    Website: www.azx.ca