Alexandria Minerals Corporation

Alexandria Minerals Corporation

February 17, 2009 10:15 ET

Drilling Begins on Alexandria's Joannes Township Property, Quebec

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2009) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reports that Aurizon Mines Ltd. ("Aurizon") has begun a 5,000 m drilling program on Alexandria's Joannes Township claims 20 km east of Noranda, Quebec.

Alexandria has optioned 19 claims to Aurizon, which lie less than 200 m east of Aurizon's Joanna Gold Deposit. The Joanna Deposit hosts Indicated Resources of 630,000 ounces of gold and Inferred Resources of 1,400,000 ounces of gold (see Aurizon website). Aurizon has completed 4 holes on Alexandria's property totaling 925 m, testing targets along the Cadillac Break in the western half of the claim block, and plans to complete a further 4,000 m (16 holes) in March and April. Results will be released upon completion of the drilling program.

The property is located along the Cadillac Break, a major regional fault with gold deposits that have collectively produced some 100 million ounces of gold since the early 1900's. Alexandria owns direct or indirect interest in mineral properties covering more than 15% of this 300 km long fault. In addition to Aurizon's Joanna Deposit, recent nearby developments include Osisko Exploration's Malartic deposit (6.2 million ounces of gold Proven and Probable Reserves), and Agnico Eagle's Lapa (1.0 million ounces Probable Reserve) and Goldex Deposits (1.6 million ounces of gold Proven and Probable Reserves). In all these discoveries, the companies have been guided by the historic occurrence of gold, and have re-interpreted and tested new targets within and near the historic zones to discover substantial new gold mineralization.

As announced in a press release dated October 29, 2008, in order to earn 100% on Alexandria's claims, Aurizon must complete exploration totaling $650,000 within two years of signing, and pay to Alexandria common shares of Aurizon valued at $1.6 million by December 18, 2010. Aurizon has completed the first requirement, namely, paying to Alexandria $200,000 cash and Aurizon shares valued at $200,000.

Alexandria Minerals Corp. is a Toronto-based mineral exploration and development company, 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information