Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

September 30, 2009 12:32 ET

Alexandria Options Val d'Or Property to Kalahari Resources

TORONTO, ONTARIO--(Marketwire - Sept. 30, 2009) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reported today that it has optioned one claim from its Airport Property in Val d'Or, Quebec, to Kalahari Resources Inc.

The Airport property lies immediately south of Kalahari's Lamaque property, which hosts a number of gold-bearing targets including the #10 Zone and #4 Plug combined, which contain a National Instrument 43-101 compliant Inferred Resource of 1.37 million tons grading 0.186 oz/ton (see Kalahari Press Release, October 20, 2004), principally in high grade veins. The terms of the agreement with Kalahari for the Airport claim include a payment of $25,000 cash to Alexandria and the issuance of 500,000 Kalahari shares to Alexandria over a period of twelve months, as well as incurring $35,000 in exploration expenditures over a period of 24 months. Alexandria retains a 2% NSR, one half of which may be purchased for $1,000,000.

Alexandria's Airport project consists of 38 claims forming the westernmost property in the Company's extensive Cadillac Break Property Group, one of the largest continuous property packages in the world-class gold mining camp of Val d'Or. The Cadillac Break properties are host to four historic gold deposits, 3 of which Alexandria is actively moving forward through exploration. Most recently, Alexandria announced a National Instrument 43-101 compliant resource estimate at its Orenada near-surface, disseminated gold project, with, at a 1 g/t Au cut-off, a Measured and Indicated Resource of 4,598,334 tonnes grading 1.82 g/t Au, for 268,528 ounces of gold, and an Inferred Resource of 2,478,674 tonnes grading 1.56 g/t for 124,248 ounces of gold (Press Release September 16, 2009).

In other matters, Alexandria announces that, further to a news release dated July 22, 2009, the shareholders' rights plan (the "Rights Plan") received shareholder approval at its recent annual general meeting. Alexandria has also received approval of the Rights Plan from the TSX Venture Exchange. A copy of the Rights Plan is available on SEDAR (www.sedar.com).

Alexandria Minerals Corp. is a Toronto-based mineral exploration and development company, 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: 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

  • Alexandria Minerals Corporation
    Andreas Curkovic
    416-577-9927
    or
    Alexandria Minerals Corporation
    Eric Owens
    416-363-9372
    or
    Alexandria Minerals Corporation
    Matt Morrish
    416-363-9372
    www.azx.ca