Alexandria Minerals Corporation
TSX VENTURE : AZX

Alexandria Minerals Corporation

October 12, 2006 11:03 ET

Alexandria Releases More Drill Results from Siscoe East, Val d'Or; Appoints New CFO

TORONTO, ONTARIO--(CCNMatthews - Oct. 12, 2006) - Alexandria Minerals Corporation (TSX VENTURE:AZX) reports partial results from the first phase drill program on the Siscoe East Project, Val d'Or, Quebec. The Company has also appointed Mr. John Francis as Chief Financial Officer.

Siscoe East Drilling

A total of 2545m in seven diamond drill holes has tested 3 principal target zones: the K-Shear Zone from which ore was mined at the Siscoe Mine; the Stabell Mine vein; and the extension of the Sullivan Mine vein. Complete assay results have been received for holes #1, 3, 4 and 5; partial results have been received for holes #2 and #6. The table below summarizes some of the more significant values from this program:



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Drilled
Hole-ID From To Width (m) Au g/t
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AX-S06-2 111.70 112.15 0.45 3.13
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Included In
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AX-S06-2 111.70 112.65 0.95 1.55
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AX-S06-2 207.40 209.50 2.10 0.68
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Included In
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AX-S06-2 203.25 209.50 6.25 0.31
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AX-S06-4 240.62 241.62 1.00 0.34
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AX-S06-5 248.90 249.40 0.50 0.51
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AX-S06-5 384.05 384.60 0.55 0.33
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AX-S06-5 404.00 405.10 1.10 0.23
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AX-S06-6 180.70 182.00 1.30 0.34
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AX-S06-6 201.35 202.00 0.65 0.22
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All drill holes intersected their geological targets with favorable, anomalous gold values. The K-Zone, as intersected by holes AX-S06-1,2, and 3 consists of altered and deformed granodiorite hosting up to 15% pyrite, trace chalcopyrite, and 10-15% vein quartz. The program also penetrated the inferred extension of the Sullivan Zone (AX-S06-4), and the Stabell Zone, yielding anomalous gold in the vein area (AX-S06-5), as well as anomalous copper in the contact zone around the granodiorite (0.21% Cu over 0.4m in AX-S06-6).

Core samples are of NQ size and split on site in Val-d'Or with a hydraulic splitter. The minimum to maximum split intervals are 0.30 m to 1.50 m, the samples are bagged and sent to ALS Chemex, Val-d'Or, for sample prep and assaying for Au by fire assay 1 gram tonne (FAA) and 33 element ICP analysis. Quality assurance and quality control on the assays is being done by including blank and standard samples at regular intervals and by sending every 25th sample to an outside, recognized laboratory as a check on the assays. The results of these check samples have been received and are within acceptable tolerance ranges (less than 10% difference).

CFO

Alexandria has appointed Mr. John Francis as Chief Financial Officer of the Company. Mr. Francis is a Chartered Accountant, graduate of University of Toronto, and acts as CFO for Queenston Mining Inc., as well as a Vice President and CFO for Jaguar Nickel Inc. He has previously served as VP and CFO for a number of other companies, including Vencan Gold Corporation and Consolidated Durham Mines, and has worked with Chartered Accounting Firms, Coopers and Lybrand (now PriceWaterhouseCooper LLP) and Touche Ross.

All exploration results have been reviewed by Eddy Canova (PGeo), our designated Qualified Person, and Eric Owens (PGeo).

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
    Email: info@azx.ca
    Website: www.azx.ca