Alexandria Intersects Up to 25.20 g/t Gold Over 1.20 Metres in Near-Surface Veins at Orenada Zone 4

TORONTO, ONTARIO--(Marketwired - March 6, 2017) - Alexandria Minerals Corporation (TSX VENTURE:AZX) (FRANKFURT:A9D) ("AZX" or the "Company") is pleased to report on the assay results from the top 150 metres of Diamond Drill Hole ("DDH") OAX-17-90.

Highlights

• Multiple high grade gold intersections from DDH OAX-17-090 including 12.38 g/t gold over 2.30 m; 25.20 g/t gold over 1.20 m, 17.30 g/t gold over 1.00 m, and 12.90 g/t gold over 1.00 m
• All high grade assays come from vertical depths of between 40 metres and 120 metres,
• The hole has been extended to a final depth of 240 m, due to the presence of abundant quartz veins; assay results are pending for the remaining 100 m

Eric Owens, President and CEO of Alexandria, stated, "These results are significant as they come from a near-surface area east of the open pit, which had not previously seen high-grade gold intersections. They open up a near surface target that is untested for 700 metres eastward to Zone 2. We are very excited about the potential assay results from five additional holes recently completed nearby."

Figure 1. Drill Hole Location Map, Zone 4, superimposed on geology

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DDH OAX-17-090 was extended to a depth of 240 m, due to the presence of abundant quartz veins and sulfides below the hole's originally planned depth of 150 m. Assays are pending for the lower 100 metres. The stacked vein sets correlate well with those intersected in nearby, previously released DDH OAX-16-079. Assays are also pending for DDH OAX-17-091, a third hole recently completed on the same section.

Figure 2. Cross Section, DDH OAX-17-090

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Figure 3. Longitudinal Section Showing Recently Drilled Holes

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Historical holes completed in the area, drilled from the north, strengthen the current operating geological model which focuses on low-angle, south-dipping veins. Assay results are pending from five additional drill holes which have been recently completed in the same zone.

Alexandria plans to complete its current 12,500 m drill program before spring thaw in April. Two drill rigs are currently turning, with one aiming to expand the resources at Orenada Zone 4, and a second rig testing grass roots gold targets on its Triangle Too program 1-2 km northwest of Zone 4.