Alexandria Enlarges Its Matachewan, Ontario, Property
Toronto, February 19, 2008 – Alexandria Minerals
Corporation (TSX-V: AZX; Frankfurt: A9D) has signed an agreement to purchase 9
mineral claims adjacent to its Matachewan property along the Cadillac Break in
Cairo, Township, Northeastern Ontario. The property now covers 11 km along the
Cadillac Break.
Historical exploration drilling has yielded encouraging
results on the new claims, which are underlain by geology similar to the nearby
Northgate Minerals’ Young-Davidson deposit (4.20 million ounces of gold
minable by open pit and underground methods, see Northgate press release
February 6, 2008). In the early 1990’s one of three holes drilled by
Biralger Resources on the new claims reportedly intersected 0.77 g/t Au over 27
meters (core length), hosted in altered and deformed syenite near the Cadillac
Break. This area has never been followed up with a drill programme.
Alexandria is
purchasing 100% of the mineral rights to the 9 claims for the following
consideration: pay $25,000 cash and issue 125,000 treasury shares to the vendor
upon signing, and pay an additional $22,000 cash to the vendor by June 21,
2008.
The Company is currently in the middle of a four-hole,
2,000 m drilling programme on the Matachewan property.
In addition to its Matachewan drilling, the Company has
two drill rigs operating on its Cadillac Break properties in Val d’Or. One rig is focused on
enlarging Orenada 2; the other is currently on the Oramaque property about 1 km
east of Orenada. The latter rig is testing an under-explored section of the
Cadillac Break where the Company previously reported 3 separate intersections
from DDH AAX-07-09 of 1.97 g/t Au over 10.18 m, 1.54 g/t Au over 4.95 m, and
2.81 g/t Au over 3.84 m (all lengths are core lengths – see press release
March 26, 2007). Since the beginning of 2008, the Company has completed 8 holes
on Orenada and Oramaque.
In other matters, the Company has accepted the resignation
of Rupert Legge as Corporate Secretary, and has appointed Kavitha Shanmugarajah for this position. Alexandria has also
authorized the issue of 5,000 incentive stock options to an employee of the
company. The Company is also in the final stages of completing a 43-101
technical report on the Cadillac Break properties; assay results from the final
five holes drilled in 2007 are awaiting the release of this report.
Alexandria Minerals Corp. is a Toronto–based mineral
exploration and development company, currently focused on the exploration for
precious 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.
The results presented
in this press release are exploratory in nature and have been reviewed by the
company’s Qualified Persons, Eric Owens, PGeo, and Eddy Canova, PGeo.
Historical data presented in this press release should not be relied upon, as
the Company has not conducted sufficient testing to verify this information.
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.
.
PLEASE CONTACT
Coal Harbor
Communications
Dale
Paruk
Tel: 1+
(604) 662-4505
Toll-free:
1+ (877) 642-6200 info@coal-harbor.com
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Alexandria Minerals Corporation
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The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
Dale Paruk
Coal Harbor Communications, Inc.
Suite 701, 555 Jervis Street
Vancouver BC
V6E 4N1
Tel: 604-662-4505
Fax: 604-662-4547
dale@coal-harbor.com
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