Alexandria Minerals Corporation

Alexandria Minerals Corporation

September 09, 2008 12:49 ET

Alexandria Discovers Copper-Silver Mineralization at Sleepy with 0.34% Copper Over 35.70 Meters

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2008) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) has intersected 0.34% copper and 4.96 g/t silver over 35.70m (true width, 23.88m) on its Sleepy property in Val d'Or, Quebec in a drill hole located 8 km southeast of the formerly-producing, world-class Louvicourt copper-zinc-silver-gold mine.

The intersection in diamond drill hole IAX-08-34 occurs from 45.50m to 81.20m down hole, and includes a 2.50m wide zone hosting 1.12% copper, 10.07 g/t silver, and 0.06% zinc (true width, 1.61m). The copper mineralization occurs principally as chalcopyrite (1% overall), and rare bornite, in fractures, stringers and disseminations, associated with pyrite (3-4%), together with chlorite alteration, and quartz and carbonate veining, and may indicate a potential feeder zone to a possible massive sulfide target.

Mineralization occurs in intermediate to mafic volcanic rocks south of the Vicour Gabbro sill, which hosts the Company's Sleepy gold deposit 1 km to the west. The drill hole targeted a moderate-intensity Induced Polarization ("IP") anomaly near the gabbro sill, and was intended to test for gold mineralization similar to that at the historic Sleepy deposit.

"This is a very exciting new discovery for us," says Eric Owens, President of Alexandria, "because we have many kilometers of such IP anomalies on our Cadillac Break properties. These results also show the wide variety of geological targets we have as well as the potential for new discoveries on this large property package."

The Sleepy Zone is located within the Company's Cadillac Break properties in the Val d'Or, Quebec, 25 km east of the historic Orenada gold deposit, where Alexandria recently intersected 11.44 g/t Au over 4.68m (See July 17th, 2008 Press Release: Cambior Inc. discovered the Sleepy Zone in 1988 by drilling a combined glacial till and geophysical anomaly; that drilling campaign yielded intersections up to 7.66 g/t Au over 15.41m (true width), and defined a near-surface gold zone 300m long by 200m depth. Alexandria has expanded this known gold zone to a vertical depth of 300m with recent drill results including 3.55 g/t Au over 7.95m and 1.30 g/t Au over 8.95m including 5.97 g/t Au over 1.00m (See May 22nd, 2008 Press Release: The Sleepy Zone remains open on all sides.

An updated longitudinal section can be viewed by visiting the Company's website, or clicking the following link:

The Company is completing a ground geophysical survey (Deep EM) in the area around the hole, as well as a downhole EM survey to help direct the Company's targeting for follow-up drilling. The Company will also review the core from historic drill holes about 100 meters on either side of this hole, which were not sampled and analysed for copper. Follow-up drilling will be attempted pending the results of these analyses, as soon as conditions permit.

The Company is currently waiting for assay results on twelve holes from its Orenada, Trivio, and Joannes Township properties, and intends to begin a follow-up drilling programme on its Matachewan, Ontario, property this Fall. This program will test the extent of gold mineralization intersected in previously reported DDH MAT-08-7, which yielded 2.25 g/t over 6.0 meters (4.09 meters true width) in a geological environment similar to that as the nearby Young-Davidson gold deposit.

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 or ALS Chemex 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 and base 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.

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