Alexandria Minerals Corporation
TSX VENTURE : AZX
FRANKFURT : A9D

Alexandria Minerals Corporation

March 16, 2007 11:49 ET

Alexandria Intersects Wide Zones of Low-Grade Gold on Cadillac Break Near Val D'Or, Quebec

TORONTO, ONTARIO--(CCNMatthews - March 16, 2007) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) has intersected two wide, low-grade gold zones in a drill hole on the Oramaque property. The Company is currently drilling on several properties optioned from Aur Resources Inc. and IAMGOLD-Quebec Inc. that are situated on the Cadillac Break, near Val d'Or, Quebec. The 2007 drilling program is budgeted for 15,000 metres and assay results have now been received for seven of the first twelve holes drilled to-date.

Drill hole AAX-07-5, which was drilled on the Oramaque Property approximately 70 meters down-dip from an historic drill hole (which intersected 45 meters grading 0.57 g/t gold), yielded two separate, wide gold-bearing zones within the Break. The upper northern zone grades 0.32 g/t gold over a drilled width of 20.5 meters (True Width, 10.49 m), and the lower southern zone grades 0.38 g/t gold over a drilled width of 29.80 meters (True Width, 15.25 m). The table below summarizes the better results for holes AAX-07-5 to AAX-07-7.



---------------------------------------------------------------
Drilled Width True Width
Hole From(m) To(m) Au g/t (m) (m)
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AAX-07-5 97.80 118.30 0.32 20.50 10.49
---------------------------------------------------------------
Incl. 113.8 115.3 1.10 1.50 0.77
---------------------------------------------------------------
135.70 165.50 0.38 29.80 15.25
---------------------------------------------------------------
Incl. 152.60 156.70 0.80 4.10 2.10
---------------------------------------------------------------

---------------------------------------------------------------
AAX-07-7 214.00 217.00 0.43 3.00 2.30
---------------------------------------------------------------
226.25 228.90 0.78 2.65 2.03
293.65 297.80 0.91 4.15 3.17
---------------------------------------------------------------
Incl. 293.65 294.70 2.50 1.05 0.80
---------------------------------------------------------------


The two holes, located about 500 meters apart along the Cadillac Break, are part of a more extended first phase of drilling on Oramaque and Orenada properties testing targets in and around the Cadillac Break. The Company has moved the drill rig to the Block Sud West property, about 8 km east of the Oramaque property, to begin a seven hole program testing the Cadillac Break with coincident geophysical and geochemical anomalies.

Alexandria Minerals Corporation is aggressively exploring for gold in the Val d'Or area and has completed approximately 3,200 m of drilling in its 2007 program. Further details of the drilling can be viewed with the link http://www.azx.ca/currentdrilling.asp or by visiting the Company's website at www.azx.ca.

In other matters, the Company has added claims to its Cadillac Break properties in the Val d'Or area by completing an option agreement to earn 100% in 19 claims in Bourlamaque Township. Subject to TSX approval, Alexandria can earn 100% in the claims by completing the following commitments: 1) Initial cash payment of $15,000 to the Optionors, and 2) issuance of 200,000 company shares to Optionors, as to 100,000 shares upon signing, and 50,000 shares issued at each of the first and second anniversary of signing.

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 properties do not contain current mineral resources as outlined by National Instrument 43-101 Standards for Disclosure for Mineral Projects, nor does the Company intend to communicate such. More drilling will be required to bring the properties into compliance with definitions of resources as delineated by NI-43-101 standards.

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.

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
    (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
    (416) 363-9372 (FAX)
    Email: info@azx.ca
    Website: www.azx.ca