Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

August 06, 2008 14:25 ET

Alexandria Closes Second Tranche of Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwire - Aug. 6, 2008) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) announces that it has closed the second tranche of its Non-Brokered Private Placement totaling $316,900 on August 1, 2008. The total raised in this NBPP, initially announced on June 20, 2008 and revised on July 9, 2008, was $1,705,900.

Subject to TSX Venture Exchange approval, the second tranche consists of 2,437,693 Flow-Through ("FT") units priced at $0.13 per unit. Each FT unit consists of one common share of the Company and one-half (1/2) of one purchase warrant, with each whole warrant entitling the holder to acquire one additional non-flow through (NFT) common share of the Company at a price of $0.25 for a period of two years from closing. The securities issued under the private placement will be subject to a hold period of four months and one day from the date of closing, being December 2, 2008.

The proceeds will be used for exploration on the Company's properties, principally in Quebec, with a minor portion earmarked for its Matachewan, Ontario, property, as well as for corporate purposes.

A finder's fee of 8% of the proceeds was paid to Canaccord Capital Corp. ($1,352), and Augen Capital Corp. ($24,000.01).

In other matters, on July 17, 2008 the Company announced issuance of 200,000 Stock options to Bay Street Connect at an exercisable price of $0.15 for a period of 1 year. The term has been amended for a period of 2 years.

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.

This press release, required by applicable Canadian laws, is not for distribution to U.S. news services or for dissemination in the United States, and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom.

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 has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

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