Alexandria Doubles Gold Resources at Sleepy

TORONTO, ONTARIO--(Marketwired - Oct. 22, 2014) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) is pleased to announce an updated resource estimate at its 100%-owned Sleepy property in Louvicourt Township, Val d'Or, Quebec. The new mineral resource estimate, prepared in compliance with National Instrument ("NI") 43-101, was completed by independent Qualified Person Christian D'Amours of Geopointcom in Val d'Or, QC.

The new Resource Estimate calculates Inferred Resources totaling 307,350 ounces of gold (uncapped), at a 3 g/t cutoff, which is double the number of ounces from the first Resource Estimate released in 2009 (see Press Release, October 29, 2009). For the uncapped resources, the following highlights are:

• 60% increase of the average resource grade, to 5.1 g/t Au (from 3.0 g/t Au in 2009), with a concomitant increase in cut-off grade, to 3.0 g/t Au (from 2.0 g/t Au in 2009)
• Gold ounces increase by greater than 100% to 307,350 ounces, from 152,000 ounces previously, with an average width of 4.1 m, and widths up to 15.2 m
• Disseminated Au-pyrite resource, with 68% of intersections grading more than 3 g/t Au over the width of the zone
• At a higher cut-off grade of 5.0 g/t, the resource contains 161,410 ounces of gold grading 6.3 g/t

Eric Owens, President and CEO, stated, "This is a great step forward in the Sleepy story, as the size of the resource has doubled and the grade has increased by 60%. The project is now approximately the size and grade of average historical mines in Val d'Or, and we believe that it is an opportune time for Sleepy to capitalize on the Val d'Or area infrastructure."

Table 1. National Instrument 43-101 compliant Inferred Current Resources at Sleepy
	Uncapped			Capped (at 52 g/t)
Cut-Off (g/t)	Ounces	Tonnes	Grade (g/t)	Ounces	Tonnes