Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

April 23, 2008 10:58 ET

Alexandria Continues Drilling Historic Sleepy Zone on the Cadillac Break; Drilling Results from Orenada, Oramaque, in Val d'Or, Quebec

TORONTO, ONTARIO--(Marketwire - April 23, 2008) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) is continuing drilling on the historic Sleepy Zone, Orenada and Oramaque properties along the Cadillac Break in the Louvicourt and Bourlamaque Townships, Val d'Or, Quebec.

Three drill holes are now completed on the Sleepy Zone, west of the drilled previous hole IAX-08-14 (Press Release June 6, 2007 - 3.35 g/t gold over 10.8 m) testing along strike gold mineralization encountered in pyrite bearing tonalites. The three drill holes intersected the Sleepy zone over drilling lengths of 17.8 m to 23.2 m and assay results remain pending. Drilling on the Sleepy Zone is continuing with three holes 325 - 600 m along strike and west of the recently completed drill holes.

At the Company's Orenada property, 25 km west of Sleepy, thirteen drill holes have been completed on the Orenada Zone 2 since the beginning of 2008. This drilling program is testing for extensions of the shallow gold mineralization encountered during previous drilling campaigns. Assay results have only been received from 3 drill holes to date. Hole OAX-08-40 intersected two zones, the first at 41.24 m yielding a grade of 1.13 g/t Au over 5.46 m and the second at 67.20 m assaying 0.91 g/t Au over 3.03 m. Hole 08-41, drilled 180 m east of DDH OAX-08-40, intersected 1.84 g/t Au over 5.20 m at a depth of 257.3 m. Hole OAX-08-42 also intersected two zones of mineralization in the Orenada 2 zone at a depth of 173.55 m grading 1.10 g/t Au over 3.05 m and 230.60 m grading 1.31 g/t Au over 2.00 m. These encouraging gold values confirm the potential for shallow gold mineralization (OAX-08-40) as well as showing that the mineralization continues at depth (OAX-08-41 and 42). This information will be used to further evaluate the economic potential of the project.

Also during the program further exploration drilling was completed on the Orenada and Oramaque properties. Two holes (AAX-08-24 and -26) tested the Cadillac Break where sheared and mineralized schists returned gold values ranging from 1.02 g/t Au to 1.21 g/t Au over widths of 0.70 m to 1.20 m (See Table). Hole AAX-08-25 tested mineralization north of the Orenada Zone 2 and intersected four mineralized intervals with a best value of 1.48 g/t Au over a core length of 2.8 m (See Table). The encouraging gold values in hole AAX-08-25 show that the Zone 5 mineralization continues at depth and has potential for expanding the gold zone.

The Company is currently completing an in-house review and compilation of previous exploration data at Orenada that will assist in the planning of further exploration - development on the property. The results presented in this press release have been reviewed by the company's Qualified Person Eddy Canova, PGeo.

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. Its core asset is large property package covering 30 km of the Cadillac Break in the Val d'Or gold camp. 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.



TABLE OF ASSAY RESULTS

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Drill TRUE Au g/t
Hole ID From To Width(m) Width(m) Avg
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ORENADA
DRILLING
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OAX-08-40 41.24 46.7 5.46 3.99 1.13
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OAX-08-40 67.2 70.23 3.03 2.07 0.91
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OAX-08-41 257.3 262.5 5.2 3.86 1.84
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OAX-08-42 173.55 176.6 3.05 1.52 1.1
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OAX-08-42 230.6 232.6 2 1.34 1.31
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EXPLORATION
DRILLING
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AAX-08-24 457.4 458.1 0.7 0.49 1.18
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AAX-08-25 318.5 320 1.5 1.06 1.18
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AAX-08-25 336.5 339 2.5 1.77 1.05
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AAX-08-25 342.7 345.5 2.8 1.98 1.48
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AAX-08-25 351.9 352.6 0.7 0.49 1.39
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AAX-08-26 125 126.1 1.1 1.01 1.21
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AAX-08-26 306.8 308 1.2 0.92 1.02
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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.

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