Alexandria Drills to Expand Sleepy Gold Resource

TORONTO, Jan. 26 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports that it has begun a 3 hole, 1,500 m drill programme on its Sleepy gold project, Val d'Or, Quebec.

With an Inferred Resource of 1.5 million tonnes grading 3.0 g/t Au (150,000 ounces of gold), the Sleepy project is a shallow-level gold-pyrite zone in the Vicour Gabbro Sill. The zone extends from surface to 350 m depth, and is 300 m long, open along strike and at depth. The current round of drilling is intended to test the deep extension of gold mineralization 100 m below previously-reported drill hole IAX-09-49, which assayed 4.03 g/t Au over 8.41 m (True Width) 350 m below the surface (Press Release February 23, 2009).

Eric Owens, Alexandria President & CEO, said, "These holes will potentially open up a new area for further expansion of the Sleepy deposit, and will guide us in our future endeavors here. The current frozen conditions are perfect for the work to be done."

A third hole will be sited 1 km east of the first two holes, targeting a potential copper zone in the volcanic rocks adjacent to the Vicour Gabbro sill, following up on hole IAX-08-34, which intersected 0.34% copper over 35.4 m (See Press Release September 9, 2008).

The Sleepy gold project is located at the eastern end of the Company's Cadillac Break property package, an extensive, 35 km long property covering more than 11,000 hectares in the prolific Val d'Or mining district. In addition to the gold resource at Sleepy, the Company's Orenada gold project, located near the city of Val d'Or 25 km west of Sleepy, hosts Measured and Indicated Resources of 5,825,842 tonnes grading 1.82 g/t Au (340,556 ounces of gold) and Inferred Resources of 7,399,643 tonnes grading 1.27 g/t Au (302,469 ounces of gold) at a 1 g/t Au cut-off.

All drill and resource results presented in this press release have been released previously, fall within the purview of the public record, and have been reviewed by the Company's Qualified Persons. Further information can be viewed at the Company's website, www.azx.ca, or www.sedar.com.

About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company has three advanced projects on the property, Akasaba, Orenada, and Sleepy, and numerous earlier stage exploration targets. The company is committed to adding value through exploration and development. Agnico-Eagle Mines Ltd. owns 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 Corporation 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.

SOURCE Alexandria Minerals Corp.

For further information:

Andreas Curkovic, Investor Relations
(416) 577-9927
Mary Vorvis, Corporate Development
416-363-9372
www.azx.ca
info@azx.ca

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Alexandria Minerals Corp.

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