Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

October 15, 2009 11:16 ET

Alexandria to Participate in New Claims Adjacent to Siscoe East Property, Val d'Or

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2009) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reports that it has agreed to participate jointly with Niogold Mining Corporation on the addition of four claims adjacent to its Siscoe East Property in Val d'Or, Quebec.

The four claims lie within the area of influence governed by the Option and Joint Venture agreement between Niogold and Alexandria, on which Niogold is earning a 50% interest in the 93 claims comprising Alexandria's Siscoe East Property, which lies between and around the past-producing Siscoe and Sullivan Mines. Alexandria will meet its commitment to maintain its 50% interest in these claims by paying to Niogold $15,000 cash and 120,000 shares of Alexandria treasury stock.

The newly added claims surround the Sullivan Mine property, which produced some 1.2 million ounces of gold during the 1900's from five veins which trend northwest onto Alexandria's property, and which was mined underground to a depth of 1.6 km, at a grade of 7.7 g/t Au. In a first round of drilling by Niogold, drill hole SE-09-004 intersected 43.67 g/t Au over 1.3 m at 412 m downhole, interpreted as a possible northwest extension of the Sullivan Zone (Alexandria Press Release, August 7, 2009).

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Person, Dr. Eric Owens, PGeo. There is no Current Resource on this property as defined by NI 43-101, and there is no guarantee that an economic gold deposit underlies the properties. More work by an independent Qualified Person ("QP") will be required in order to bring the properties into compliance with resource definitions in NI 43-101.

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. Alexandria 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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