Alexandria Minerals Corporation

Alexandria Minerals Corporation

October 18, 2012 13:09 ET

Alexandria Appoints Robert Geis to Board of Directors

TORONTO, ONTARIO--(Marketwire - Oct. 18, 2012) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) is pleased to announce that Robert Geis has been appointed to its Board of Directors, subject to the approval of the TSX Venture Exchange.

Mr. Geis is currently First Vice President, Research, and gold analyst of Aletheia Research and Management Inc., an independent investment advisor which manages over $4 billion in assets for institutional accounts, including pension plans, endowments, and foundations, as well as for high net worth individuals. He brings a great depth of experience in financial and gold markets having worked with major institutions in New York such as Tweedy, Browne and Knapp and Dean Witter InterCapital, where he served as Managing Trader and Vice President. Additionally, he was a consultant to President Ronald Reagan's Gold Commission and to the National Economic Commission, also during President Reagan's tenure.

Eric Owens, President and CEO of Alexandria Minerals, states "Robert brings an extensive understanding of financial markets and the gold industry, as well as rigorous research proficiency based upon independent thought and precise analysis. We are very pleased to welcome Robert Geis to the Alexandria team."

In other matters, Alexandria is in the final stages of its first metallurgical study on its Akasaba project in Val d'Or, Quebec. Located on the Company's 35‐km long Cadillac Break Property group, the Akasaba project is Alexandria's flagship gold exploration project, where the company has focused its efforts over the past few years.

Alexandria has completed 57,300 m of drilling on the project to‐date, expanding the historical gold deposit from 200 m long by 100 m deep, to a Current Resource that is 1,000 m long by 500 m deep. On March 27, 2012, the Company announced its first National Instrument Resource estimate on the project:

Indicated Resources Inferred Resources
Tonnes Grade
(g/t Au)
Oz. Au
Tonnes Grade
(g/t Au)
oz. (Au)
Underground 563,660 5.91 107,457 1,462,560 5.29 249,891
Main Pit 3,009,214 1.37 132,475
Satellite Pit 285,374 1.76 16,153
TOTALS 239,932 266,044

The Company has further expanded on this resource since March through the multi‐hole discovery of the West gold‐copper zone, 500 m west of the Current Resource, with assay results up to 1.18 g/t Au, 0.70% Cu, and 3.04 g/t Ag over 118.80 m at shallow depths (Press Release, July 11, 2012) and, separately, by intersecting 5.59 g/t Au over 24.00 m, including 12.48 g/t over 8.20 m (May 24, 2012) at a vertical depth of 600 m, roughly 100 m below the Current Mineral Resource. These results further confirm the growth potential of this project and Alexandria's commitment to it.

Currently, the Company's drilling program is on a 2 week break; drilling will resume later in October. Assay results are pending from 7 holes completed to‐date on its Akasaba project.

All technical information included in this news release has been previously released, and approved by Eric Owens, P.Geo., and Peter Legein P.Geo., Qualified Persons, of Alexandria.

About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto‐based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold‐producing Cadillac Break in Val d'Or, Quebec. The Company is currently focused on advancing its Akasaba project. Agnico‐Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 10% of the Company.

WARNING: This News Release may contain forward‐looking statements including but not limited to comments regarding Exchange approval of the Agreement, payments and exploration expenditures due under the Agreement, 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
    Investor Relations
    (416) 577-9927

    Alexandria Minerals Corporation
    Eric Owens
    (416) 363-9372