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Alexandria Enlarges High Grade Zone at Akasaba with 23.89 g/t Au Over 1 m

Wednesday, July 21st, 2010

Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports that it has intersected 23.89 g/t Au over 1.0 m (True Width, 0.67 m) in DDH IAX-10-79, at a vertical depth of 60 m, enlarging the high grade gold zone located east of the historic mine on its Akasaba property in Val d’Or, Quebec. Assay results are pending for 12 holes on the project, on which two drill rigs are currently working.
DDH IAX-10-79 is located 100 m east of DDH IAX-10-78, which intersected 7.41 g/t Au over 2.81 m (Press Release, June 17, 2010), and 50 m east of DDH IAX-10-75, which intersected 3.55 g/t over 5.00 m (Press Release, May 05, 2010). To-date, seven holes have intersected high grade gold values, six with visible gold, in this area east of the mine, intersections which vary in vertical depth from 50 m to 325 m. Assays are pending for seven short holes, which have tested 300 m of strike length east of hole 79, mostly targeting shallow depths of less than 60 m vertical depth. This zone remains open to the east and at depth.
Alexandria has also completed 5 holes around recently reported DDH IAX-10-72, which intersected 1.97 g/t Au over 63.30 m, at the base of historic gold mineralization below the mine area (Press Release June 17, 2010). Assays are likewise pending for these holes, which step out 50 to 100 m along strike and down dip.
The Company is aiming to begin a National Instrument 43-101-compliant resource study later in the summer, and is currently completing a 5,000 m drill programme, with both in-fill and step-out targets in order to improve the statistical parameters of the project.
Table 1. Assays from Diamond Drill Hole IAX-10-79
Drill Hole, Core Interval(m), Avg. Gold(g/t), Length(m), Est. True Width(m)
IAX-10-79 84.60 – 105.20 1.33 20.60 14.60
incl. 84.60 – 85.60 23.89 1.00 0.65
and 85.60 – 105.20 0.18 19.60 13.95
239.80-252.30 0.30 12.50 8.75

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