Alexandria's Exploration Drilling Identifies New Target Zones North and South of Main and West Zones at Akasaba, Including 1.44 g/t Au Over 44m

TORONTO, ONTARIO--(Marketwired - Jul 24, 2013) - Alexandria Minerals Corp. (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) reports on results from its broader Winter/Spring exploration drilling program on its Akasaba project in Val d'Or, Quebec. Drill holes from this program have led to the discovery of new gold and gold-copper-bearing zones located north and south of, and sub-parallel to, the main Akasaba Mine Horizon which hosts both the Mine area resources and the West Zone resources.

The two additional zones, the "North Horizon" and the "Dacite Zone", are identified by a series of recent drill holes which intersected anomalous to ore-grade mineralization. Further, the North Horizon shows a variation from gold-dominant assays on the east to gold-copper assays on the west end of the horizon, similar to the metal zonation within the main Akasaba Mine Horizon. Mineralization is mainly hosted in mafic volcanic and volcaniclastic rocks which are pervasively silicified, and locally strongly epidotized and magnetized pillow and breccia basalts and synvolcanic mafic sills. The mineralized zone can be followed along the stratigraphic horizon over a 1,800m strike length.

Notable results were seen on the east end of the North Horizon, 200 m north of the Akasaba Mine area, where Alexandria has delineated both open pit and underground resources. Significant drill results include 44.00 m grading 1.44 g/t Au (including 4.69 g/t Au over 5.00 m) in DDH IAX-12-199, and 24.00 m grading 1.00 g/t Au and 0.14% Cu (1.25 g/t Gold Equivalent, or "Au. Eq"), including 1.30 m grading 7.70 g/t Au and 1.85% Cu (10.90 g/t Au Eq) in DDH IAX-12-225.

Eric Owens, President and CEO, said, "These results support our contention that the geologic system at Akasaba is substantial and conducive to hosting more mineralization. We are pleased to again see important progress made as our efforts at Akasaba have consistently met with success, including more than doubling our resources in less than one year."

To the west end of the North Horizon, located 200 m to 300 m north of Alexandria's West Zone resources, shallow-level drill holes show dispersed copper-gold mineralization similar to that in the West Zone, hosted in at least three separate sub-parallel zones identified in drill core. DDH IAX-12-223 intersected 34.50 m grading 0.26 g/t Au and 0.18% Cu (0.57 g/t Au Eq) and, in a separate interval, 0.80 m grading 3.23 g/t Au and 0.34% Cu (3.83 g/t Au Eq). A number of other shallow holes have yielded favorable anomalous results including: 62.10 m grading 0.20 g/t Au plus 0.07% Cu (0.32 g/t Au Eq) in DDH IAX-12-222; 69.80 m grading 0.17 g/t Au plus 0.09% Cu (0.33 g/t Au Eq) in DDH IAX-12-227; and 18.50 m grading 0.23 g/t Au and 0.14% Cu (0.47 g/t Au Eq) in DDH IAX-12-228.

The Dacite Zone splays off of the West Zone resources, and has been identified to-date striking eastward for 600 m from the West Zone, south of the Akasaba Mine Horizon. It is most altered and mineralized in the vicinity of the West Zone. Five drill holes have intersected wide, anomalous gold and copper mineralization, including DDH IAX-12-206 which intersected 59.30 m grading 0.20 g/t Au plus 0.10% Cu (0.38 g/t Au Eq), and DDH IAX-12-219 which intersected 41.00 m grading 0.12 g/t Au plus 0.11% Cu (0.31 g/t Au Eq).

These northern and southern zones show that gold+/-copper mineralization is more widespread around the Akasaba resources than previously thought, and provides for further geological context of controls on gold and copper mineralization. Alexandria geologists are reviewing this data as part of the Company's broader program of drill target selection on the Company's large, 35 km long Cadillac Break group of properties in Val d'Or Quebec. More specific target planning has been, and is, underway on the Akasaba and adjacent properties for the purposes of adding to the Company's gold-copper resource base.

Program design, management, and Quality Control/Quality Assurance are governed by Alexandria's exploration group of which Peter Legein, P.Geo, and Eric Owens, P.Geo, are the Company's Qualified Persons. Mr. Legein and Mr. Owens reviewed the results in this press release. All exploration work on the property is conducted under the direct supervision of Emilie Batailler, P.Geo. The QA/QC program is consistent with NI 43-101 and industry best practices and has been previously addressed in the NI 43-101 Technical Report on the Cadillac Break properties (February 2008) as well as in subsequent NI 43-101 reports found on the Company's website or on www.sedar.com.

Further information about the Company is available on the Company's website, www.azx.ca, or our social media sites listed below:

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About Alexandria Minerals Corporation

Alexandria Minerals Corp. is a Toronto-based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. Global gold resources are distributed between three projects on its Cadillac Break Property package, Akasaba, Sleepy, and Orenada, the details of which can be found on the Company's website at www.azx.ca. The Company is currently focused on advancing its Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold mines in the region, owns roughly 10% of the Company.

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 Corp. relies upon litigation protection for forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.