Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

January 15, 2007 08:52 ET

Alexandria Resumes Drilling in Val d'Or

TORONTO, ONTARIO--(CCNMatthews - Jan. 15, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FWB:A9D) has resumed its 2007 drill program on its Val d'Or properties, and is currently drilling the Oramaque property (press release Dec. 19, 2006). The Company has also firmed up targets for the first stage of drilling on the Bloc Sud West property, about 6 km east of Oramaque along the Cadillac Break. The Company anticipates the 2007 program will drill approximately 15,000 metres this year.

The initial holes on Oramaque will test gold targets in the "Hogg Zone", a skarn-like style of gold-copper mineralization located just north of the Cadillac Break, previously delineated by Alexis Minerals Corporation. The first hole (AAX-06-1), tested the near surface extension of mineralization intersected in an Alexis drill hole (which yielded 1.67 g/t gold over 27.0 m, including 17 g/t gold over 1.7 m). The second hole (AAX-07-2), was drilled 285 m to the west along strike from the first hole and was designed to test the down dip extension of an Alexis drill hole which intersected 3.04 g/t gold over 16.2 m, including 7.57 g/t gold over 4.5 m.

The first drill hole was completed just before a break for the Christmas Holidays and the second hole on January 9th. Both holes intersected altered gabbro and basalt and silicified, pyritic sedimentary rocks; assay results from these holes are pending. Near-term drilling is planned to continue to test the Hogg zone as well as the Cadillac Break along strike with this zone.

In addition, the Company has planned the initial drilling targets on the Bloc Sud West property, a property Alexandria has an option to earn 50% from IAMGOLD-Quebec Management Inc. The first six drill holes will test geophysical and geochemical anomalies in favorable geology near the Cadillac Break, identified from Magnetic and Induced Polarization surveys completed in late 2006. These anomalies were evaluated in conjunction with gold geochemical anomalies identified in a review of historical glacial till data. Drilling is scheduled to begin by late February 2007.

Current drilling information, maps and sections can be viewed with the link http://www.azx.ca/currentdrilling.asp or by visiting the Company's website at www.azx.ca.

All results presented here are exploratory in nature. Although the results are geologically important, there is currently no resource on the property as defined by National Instrument 43-101. Eddy Canova, PGeo, the company's QP for these activities, has reviewed the data presented in this press release and acknowledges their accuracy. Information regarding prior results of Alexis Minerals can be obtained from the Quebec Ministere des Ressources naturelles et de la Faune.

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.

Contact Information