Alexandria Minerals Corporation

Alexandria Minerals Corporation

July 17, 2008 12:10 ET

Alexandria Continues to Delineate Orenada 2 with Drill Intersection of 10.42 g/t Gold over 1 Meter

TORONTO, ONTARIO--(Marketwire - July 17, 2008) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reports that it has intersected 2.47 g/t Au over 4.70 m (true width, 3.29 m) at 15 m depth, including 10.42 g/t Au over 1.00 m (true width, 0.60 m) at its Orenada 2 zone in Val d'Or, Quebec.

Hole OAX-08-43 expands a sub-horizontal, near-surface gold bearing zone that has been enlarged to 360 m long by 120 m depth, and includes previously reported drill hole assays of 2.19 g/t Au over 27.08 m, including 11.44 g/t over 4.68 m, in hole OAX-07-16, and 4.07 g/t Au over 5.90 m (all widths are true widths) in hole OAX-07-32 (See Press Releases October 15, 2007 and January 9, 2008). Thirteen holes were drilled in the first half of 2008 at Orenada 2, for a total of 4,250 m, with assays pending for 8 holes.

Gold mineralization at Orenada 2 is hosted in highly deformed and altered sedimentary rocks of the Cadillac Group within the Cadillac Break, a major gold-bearing fault zone in northern Quebec and Ontario, and adjacent to the dioritic Centre Post Intrusion. As such, the geological environment is similar to that found at other gold deposits in the region, notably Osisko Exploration's Malartic deposit, which hosts 8.4 million ounces of gold (Osisko Press Release July 13, 2007).

The Company is continuing its drilling programme, with roughly 8,000 m remaining on a 10,000 m drilling contract. Currently a 3 hole program is underway on the Company's Joannes Township project, located next door to the Joanna project of Aurizon Mines Ltd., which hosts 1.6 million ounces of gold (Indicated and Inferred) along the Cadillac Break (see Aurizon Press Release September 13, 2007).

In other matters, the Company has hired Bay Street Connect of Toronto to provide Investor Relations services for the Company. Bay Street Connect will work with the Company to establish and maintain a targeted marketing and informational campaign and distribute information to shareholders, brokers, fund mangers and high net worth investors. Compensation for these services will be $ 2,500 per month for the next 3 months and subject to stock exchange approval. In addition, the company will also issue 200,000 incentive stock options to Bay Street Connect exercisable at a price of $0.15 for a period of 1 year, subject to approval by the stock exchange, Alexandria's Board of Directors, and approval of the Company's stock option plan by shareholders.

There is no prior relationship between Bay Street Connect and Alexandria Minerals Corporation, nor is there any prior direct or indirect interest in Alexandria Minerals Corporation or its securities or any right to acquire such an interest, on the part of Bay Street Connect.

The services that Bay Street Connect will provide will be complementary to those provided by Coal Harbor Capital of Vancouver, which Alexandria continues to work closely with.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Eddy Canova, PGeo, and Dr. Eric Owens, PGeo. The drilling program employs a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Drill core is NQ-sized, and is logged, sampled and split at the Company's Val d'Or office, in intervals of 0.3 meters to a maximum of 1.5 meters. The samples are recorded, bagged and sent to Bourlamaque Assay Lab in Val-d'Or for assay. Samples are analyzed for Au, Ag, Cu and Zn, via a 30 gram pulp by FAA for Au and AA for Ag, Cu and Zn. Re-assays by FA gravimetric finish are performed on samples assaying greater than 1.0 g/t Au and re-assays greater than 5.0 g/t Au are checked a second time by FA gravimetric finish.

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: 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.

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