Alexandria Deepens the Sleepy Zone by 100 m with Drill Intersection of 13.45 g/t Au over 0.70 m

TORONTO, ONTARIO--(Marketwired - Jun 4, 2014) - Alexandria Minerals Corp. (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) is pleased to report on three of its winter drill holes from its 9 holes, 4,000 m winter step-out drilling program on its Sleepy project in Val d'Or, Québec, which has intersected high grade gold assays from both the Sleepy Zone and the separate Ozawi Zone, 100 m to the south of the Sleepy Zone.

Diamond drill holes SAX-14-027A and SAX-14-028 penetrated the target Sleepy Zone 100 m and 65 m below the nearest gold-bearing holes, extending gold mineralization to 550 m vertical depth. DDH SAX-14-27A intersected 13.45 g/t Au over 0.70m Au in the Sleepy Gold Zone, part of a broader zone of albite-quartz-pyrite alteration. Similarly, DDH SAX-14-028 intersected 2 separate high grade zones, 5.35 g/t over 0.50 m and 5.41 g/t over 0.50 m, each part of a broader lower grade envelope of 0.72 g/t Au over 21.00 m.

These drill holes further enlarge the high grade zone that Alexandria's geologists discovered below the Current Resources (National Instrument 43-101 compliant Inferred Resources of 1.5 million tonnes grading 3.0 g/t Au, for 150,400 ounces of gold). This high grade zone, with assay results up to 6.82 g/t over 16.96 m true width, is now 200 m long by 200 m deep.

Diamond drill holes SAX-14-027- and SAX-14-027-A also intersected high grade gold mineralization along the Ozawi Zone (formerly the South Zone), a shear zone some 100 m to the south of the Sleepy Zone. The Company has previously intersected high grade mineralization in the Ozawi Zone, such as 27.0 g/t Au over 8.4 m, including 248.8 g/t Au over 0.50 m. Company geologists are monitoring and reviewing these results with an eye toward further drill testing.

The Company intends to provide an updated National Instrument 43-101 Resource Estimate later this year.

Elsewhere, the Company is continuing drill target planning for its 10,000 m drill program on the western portions of its 35 km long Cadillac Break group of properties. During the winter, Alexandria completed 18 square km of surface and downhole Geophysical surveys (Induced Polarization), as well as 8148.35 m of drilling, all of which have provided numerous follow-up drill targets.

Program design, management, and Quality Control/Quality Assurance are governed by Alexandria's exploration group of which Philippe Berthelot, P.Geo, is the Company's Qualified Person. Mr. Berthelot has reviewed the results in this press release. All exploration work on the property is conducted under the direct supervision of Emilie Batailler P.Geo and Philippe Berthelot. 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:

Facebook: https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628

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Flickr: http://www.flickr.com/alexandriaminerals/

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 three producing gold mines in the region, owns roughly 9% 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.