Alexandria Continues to Intersect High Grade Gold at Akasaba Including
38.53 g/t Au over 0.60 m

Toronto, Ontario, March 24, 2011 �?" Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today on results from shallow in-fill drilling at its Akasaba gold-silver project in Val d�?TOr Quebec, on which it has intersected high grade gold values, including 38.53 g/t Au over 0.60 m at less than 30 m vertical depth and 21.74 g/t Au over 0.35 m at less than 50 m depth.

Diamond drill holes IAX-11-124, 125, and 127 all intersected the high grade zone discovered by Alexandria�?Ts geologists during last year�?Ts drill programme, located east of the past-producing Akasaba Mine, (see Table 1 below):

DDH-11-124�?" 38.53 g/t Au from 30.10 m to 30.70 m downhole

DDH-11-125�?" 21.74 g/t Au from 51.60 m to 51.95 m downhole

DDH-11-127�?" 2.13 g/t Au from 153.05 m to 167.85 m downhole, including 45.09 g/t Au from 154.10 m to 154.60 m

This high grade zone extends from surface to more than 300 m deep, remains open at depth, and is part of the broader gold-bearing system that, in addition to high gold grades, hosts broad, near-surface zones grading up to 1.91 g/t Au over 63 m width (previously reported hole IAX-10-72).

Eric Owens, President and CEO of Alexandria, says, "Our multi-rig drilling campaign is designed to accelerate delineation of gold mineralization at Akasaba. We are broadly expanding the deposit at both shallow and deep levels, with in-fill and step-out drilling. We are awaiting assays from a further 15 holes and once we have reviewed these assays we plan to add a third drill rig to continue delineation drilling at Akasaba."

To-date, Alexandria has drilled some 90 holes at Akasaba over the past 1.5 years, totaling more than 22,000 meters, testing both shallow and deep targets. Focus has been on the Mine Horizon, from which the Akasaba Mine produced 40,000 ounces of gold and 10,000 ounces of silver in the early 1960�?Ts. This drilling has significantly enlarged the gold zone, from 200 m to 1,000 m along strike, and from 150 m to more than 300 m at depth.

The 2-rig, 20,000 m drilling programme currently underway has recently focused on shallow level targeting above 150 m depth over a strike length of 1 km, to better define gold-silver mineralization in and around the Akasaba Mine. Recent downhole geophysical surveys are being interpreted, to aid in deeper targeting, and detailed geological reviews have identified multiple targets on surrounding sites and properties.

Table 1: Drill Hole Assay Results, Akasaba Project

The resultspresented in this press release are exploratory in nature and have beenreviewed by the company�?Ts Qualified Persons, Jared Beebe, PGeo, and Dr.Eric Owens, PGeo. These results have not been verified by anIndependent Qualified Person (�?oQP�?�) and therefore should not be reliedupon except for their exploratory value. There is no Current Resourceunderlying the Akasaba property as defined by National Instrument43-101, and no guarantee that an economic gold deposit is present.Further work by Alexandria and an Independent QP will be required tobring the data into compliance with NI 43-101