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Alexandria Minerals Continues to Find High Grade Gold at Akasaba Project in Quebec

Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today that it continues to intersect high grade gold mineralization on its Akasaba project in Val d'Or, Quebec, by drilling 19.33 g/t Au over 6.5 m (core length), which includes an interval containing 121.00 g/t Au over 1.0 m.

The intersection in Diamond Drill Hole IAX-10-87 occurred at 150 m vertical depth, below the eastern fringe of the historic gold mine, located between the mine area and the recently discovered high grade zone to the east (see Figure 1 below).

Eric Owens, Alexandria President & CEO, said, "We are excited to find the highest grade intercept ever at Akasaba, especially as it occurs between the historic mine area and the high grade zone, which suggests the potential for broader mineralization in between. In addition to awaiting further assays for this last campaign, we have completed one drill shift in October and are preparing for the next drill shift to begin in early November.

In other matters, the company has granted an aggregate of 2,700,000 incentive stock options exercisable at a price of $0.17 for a period of 5 years. Of these, 2,245,000 have been granted to the company's directors and officers and the remainder have been issued to employees and consultants.

The Company's sampling protocol has been outlined in previous press releases, and additional information is available by request. Currently, the Company is using AGAT Labs, an ISO 17205 certified company, with preparation facilities in Sudbury for its analysis. Because of the concern of a "nugget effect", the company routinely re-checks its assay results, and where re-checked assays vary by greater than 10%, the samples are subjected to a metallic screen assay technique whereby a 1 kg separate of the original sample is screened to a 30 g aliquot prior to a FA gravimetric finish.

Source: Alexandria Minerals Corporation

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