Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

July 19, 2007 10:33 ET

Alexandria Intersects New Gold Zones in the Cadillac Break on the Airport Property

TORONTO, ONTARIO--(Marketwire - July 19, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) has drilled multiple anomalous gold intersections in its first exploratory holes on the Airport property, Val d'Or, Quebec, including 9.35g/t gold over 0.7 m and 0.51g/t gold over 13.5 m (drilled widths).

The Company's first drill holes on the Airport property, located approximately 3 km west of the Orenada property (see Figure 1), where the company intersected 89.1 m grading 1.04 g/t gold in the Cadillac Break (April 25, 2007), were designed to test geophysical anomalies principally along the Cadillac Break. Diamond drill hole AAX-07-17, yielded several positive gold intersections in deformed pyrite-, pyrrhotite- and arsenopyrite-bearing quartz-sericite-biotite schist similar to that at Orenada, with quartz-ankerite veins, yielding 0.83 g/t Au over 8.15 m (including 2.14 g/t Au over 2.80 m and 9.35 g/t Au over 0.7 m). Results from two additional holes are still pending.

"The results are encouraging as they indicate the presence of a large gold system in the western portion of our Cadillac Break properties," says Eric Owens, President of Alexandria. "The ingredients for this system include the Cadillac Break, the Centre Post diorite intrusion, and broad metal anomalies, especially gold and copper, centered around the historic Orenada-area gold deposits."

Note: To view "FIGURE 1. Location of western Cadillac Break properties, with current completed drill holes (in red) and location of Cadillac Break and Centre Post Intrusion" please click the following link: http://www.ccnmatthews.com/docs/azx0719.pdf

Separately, at the Orenada Zone, where a second drill rig is operating, assay results from the first of five completed holes testing the extension of Orenada #4 Zone have yielded anomalous gold values over several intervals in hole OAX-07-1. This hole intersected the targeted Cadillac Break 96 m above the previously reported hole AAX-07-12 (12.55 m grading 7.9 g/t gold; March 27, 2007), and includes an interval of 0.53 g/t over 4.3 m in altered porphyritic diorite, a satellite body of the Centre Post Intrusion.

In the current phase of drilling, a total of 18 holes have been completed, and the Company continues its drilling activities with 2 drill rigs operating on the Cadillac Break properties. One drill rig is dedicated to the Orenada property where 10 holes have been drilled; the other exploration drill rig is testing geophysical and geological targets around the Centre Post Intrusion. The table below reports assays from the first hole at Orenada and the first two holes at Airport; results are outstanding for the remaining 15 holes.



Table of Assay Results

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From To Drill True Au
Hole # (m) (m) Width(m) Width(m) (g/t)
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AIRPORT
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AAX-07-16 272.40 273.00 0.60 0.46 0.28
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AAX-07-17 47.15 55.30 8.15 6.67 0.83
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Incl 49.40 55.30 5.90 4.83 1.12
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Incl 49.40 52.20 2.80 2.29 2.14
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AAX-07-17 67.00 69.00 2.00 1.44 0.62
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AAX-07-17 130.00 143.50 13.50 11.69 0.51
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Incl 132.00 135.00 3.00 2.60 1.00
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AAX-07-17 141.40 143.50 2.10 1.90 0.86
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AAX-07-17 162.10 164.50 2.40 1.70 0.29
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AAX-07-17 169.10 171.90 2.80 1.80 1.06
-------------------------------------------------------------------

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ORENADA
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OAX-07-1 34.50 38.80 4.30 1.54 0.53
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OAX-07-1 108.00 111.00 3.00 1.50 0.50
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Incl. 109.00 111.00 2.00 1.00 0.71
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OAX-07-1 123.45 126.90 3.45 1.73 0.29
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OAX-07-1 159.45 161.35 1.90 1.12 0.25
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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