Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

August 15, 2007 07:03 ET

Alexandria Extends Orenada 4 With High Grade Gold Intersection

TORONTO, ONTARIO--(Marketwire - Aug. 15, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) intersected 3.24 g/t gold over 10.50 meters at Orenada 4, including two visible gold-bearing intervals grading 26.36 g/t gold over 0.50 m and 6.56 g/t gold over 1.10 meters in diamond drill hole (DDH) OAX-07-13A, extending known mineralization at depth (all widths core lengths). The intersection, hosted in the Cadillac Break, occurs at a vertical depth of 430 meters, one of the deepest holes yet penetrating the Orenada 4 zone.

The Company also continues to intersect shallow, low gold grades over substantial widths at Orenada 2, just 500 meters east of Orenada 4 along the Cadillac Break. DDH OAX-07-4 intersected 0.52 g/t gold over 25.8 meters approximately 70 meters below the previously announced result of 0.76 g/t gold over 40.4 meter in DDH OAX-07-3 (press release July 30, 2007). At present, the results from 7 shallow drill holes are pending at Orenada 2.

These drill results, in conjunction with previously released results, show that the gold mineralization at Orenada is characterized by wide, near surface, low to moderate grade zones as well as depth extent in the form of high grade zones. An updated longitudinal section showing recent drilling at Orenada can be viewed by visiting the Company's website at www.azx.ca or with the link http://www.azx.ca/currentdrilling.asp.



Table of Assay Results

------------------------------------------------------------------------
DDH Hole # From To Core Length True Width Au g/t
(m) (m) (m) (m)
------------------------------------------------------------------------
Orenada
------------------------------------------------------------------------
OAX-07-4 32.20 44.10 11.90 6.83 0.24
------------------------------------------------------------------------
33.00 34.60 1.60 0.92 0.77
------------------------------------------------------------------------
66.60 113.00 46.40 34.48 0.37
------------------------------------------------------------------------
incl 87.20 113.00 25.80 18.55 0.52
------------------------------------------------------------------------
and 94.70 100.00 5.30 4.12 1.95
------------------------------------------------------------------------
124.35 127.00 2.65 2.38 1.04
------------------------------------------------------------------------

------------------------------------------------------------------------
OAX-07-5 311.10 321.50 10.40 7.09 0.13
------------------------------------------------------------------------
344.40 363.60 19.20 15.72 0.32
------------------------------------------------------------------------
incl 352.30 363.60 11.30 9.14 0.50
------------------------------------------------------------------------
370.10 371.50 1.40 0.80 0.56
------------------------------------------------------------------------

------------------------------------------------------------------------
OAX-07-13A 381.50 382.00 0.50 0.39 3.00
------------------------------------------------------------------------
442.80 448.00 5.20 3.68 0.33
------------------------------------------------------------------------
485.50 506.65 21.15 14.95 1.98
------------------------------------------------------------------------
incl 485.50 499.90 14.40 10.18 2.60
------------------------------------------------------------------------
and 485.50 496.00 10.50 7.42 3.24
------------------------------------------------------------------------
514.30 517.20 2.90 1.71 0.17
------------------------------------------------------------------------
Airport
------------------------------------------------------------------------
AAX-07-19 300.20 302.00 1.80 1.56 0.38
------------------------------------------------------------------------
Incl 301.10 302.00 0.90 0.78 0.64
------------------------------------------------------------------------


Orenada 2 and 4, located 15 km southeast along strike from Agnico Eagle's Goldex deposit (reserves and resources of 2.4 million ounces at an average grade of 2.33 g/t gold), lie along the Cadillac Break in the shadow of the Centre Post diorite stock, and form part of a gold-bearing system along the Break that extends eastward 5 km from Orenada 4 to the Hogg Zone on the Oramaque property. This area has yielded anomalous to ore grade gold assays in recent and historic drill holes and trenches over the length of this zone, with much of this area untested.

Results from the last of 4 exploratory holes on the Airport property show anomalous gold in the Cadillac Break approximately 5 km west of Orenada 4. DDH AAX-07-19 yielded 0.38g/t gold over 1.80 meters in the westernmost intersection of the Cadillac break on Alexandria's property. Of the four holes drilled on the Airport property, previously announced DDH AAX-07-17 (press release July 19, 2007), located 2 km east of AAX-07-19, yielded 8.15 meters grading 0.83 g/t, including 0.7 meters grading 9.35 g/t. This interval is hosted in deformed, altered Pontiac Sedimentary rocks in what is believed to be a splay of the Cadillac Break.

The Company continues to drill with 2 drill rigs on Orenada 2 and 4. In an effort to enlarge both targets, one rig is testing Orenada 4 approximately 50 meters below DDH OAX-07-13A, and the second rig is testing the eastern extension of Orenada 2. Elsewhere, the Company has begun a prospecting and mapping programme on its Matachewan property in an effort to delineate targets for a drilling programme later this Fall.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Person, Eddy Canova, 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.

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.

Contact Information

  • Coal Harbor Communications
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200
    (604) 662-4547 (FAX)
    Email: dale@coal-harbor.com
    or
    Alexandria Minerals Corporation
    Eric Owens
    President and CEO
    (416) 363-9372
    Email: info@azx.ca
    Website: www.azx.ca