Niogold to Drill Alexandria's Siscoe East Project, Val d'Or

TORONTO, May 12 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX) (Frankfurt: A9D) reports today that Niogold Mining Corporation has mobilised a drill rig to complete a ten hole, 2,500 m drill programme on Alexandria's Siscoe East project in Val d'Or, Quebec.

The drilling programme will test several electromagnetic and induced polarization anomalies, interpreted as potential shear-vein zones along the north contact area of the Bourlamaque Batholith.

The Siscoe East property is located on the northwest side of the city of Val d'Or, around and between the past-producing Siscoe Mine and Sullivan Mine. The Siscoe Mine, Val d'Or's first and highest grade mine, produced some 852,000 ounces of gold between 1929 and 1949, at an average grade of 9.22 g/t Au. The Sullivan Mine, located southeast of the Siscoe East Property in the Bourlamaque Batholith, produced 1.13 million ounces of gold at an average grade of 7.65 g/t Au between 1938 and 1968, principally from five parallel veins which trend onto Alexandria's property.

A previous drilling programme by Niogold in 2009 intersected 43.67 g/t Au over 1.9 m, thought to be an extension of the Sullivan vein system onto Alexandria's property (See Press Release, August 7, 2009).

The Siscoe East Property consists of 110 claims governed by two agreements between Niogold and Alexandria. Alexandria has earned a 70% interest on 37 claims previously held by Niogold, and Niogold is in the process of earning a 50% interest in 59 claims owned by Alexandria, by completing the following: issuing to Alexandria 650,000 common shares (completed) and expending a total of $750,000 on exploration on the property ($245,000 remains).

In other matters, the Company has granted 250,000 incentive stock options exercisable at a price of $0.19 for a period of 3 years to an officer of the Company.

The results presented in this press release with regard to Alexandria'a Siscoe East property are exploratory in nature and have been reviewed by Dr. Eric Owens, PGeo, QP.

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 is currently focused on advancing its Akasaba gold-silver project, and has two NI 43-101 compliant gold resources: at Orenada, at a 0.5 g/t cutoff, the company has delineated 446,000 ounces of gold (Measured and Indicated), and 302,000 ounces of gold (Inferred); at Sleepy, the Company has delineated 150,000 ounces of gold (Inferred). Agnico-Eagle Mines Ltd., who has three 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 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

Eric Owens, President/CEO

Profil de l'entreprise

Alexandria Minerals Corp.

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