Alexandria Reports High-Grade Gold Assays from Final 8 Holes of Winter-Spring Drill Programme -- Expectations Fully Met

TORONTO, ONTARIO--(Marketwired - Aug. 2, 2017) - Alexandria Minerals Corporation (TSX VENTURE:AZX)(OTCQB:ALXDF)(FRANKFURT:A9D) ("AZX" or the "Company") today announced excellent assay results from the final eight holes of the Company's winter-spring drill programme at Orenada Zone 4, which is located seven kilometres southeast of Val d'Or, Quebec. These assays include 4.21 g/t gold over 10.45 metres in DDH OAX-17-89, with near-surface intersections such as 53.40 g/t gold over 0.50 metres.

"These latest high-grade gold assays continue to confirm our belief in the enormous exploration upside at our flagship property in this highly prolific mining region," said Eric Owens, President and CEO of Alexandria. "Our summer drill program is underway and has rapidly expanded upon our very successful winter drill program. We have enlarged and better defined the high grade vein system there, extended those veins to 1,100 metres in length, deepened them by 150 metres below the pre-existing resources, discovered additional high-grade vein sets, and begun building across-strike volume. We are very confident that our summer drill program will deliver further growth, contributing to a new resource estimate by the end of the year. Our expectation is that our new resource estimate will be more than double our existing resource estimate from 2009."

Drill Highlights:

• The eight holes effectively filled in the gaps and expand the volume of previously identified, near-surface, stacked gold veins;
• The footprint of the stacked vein sets has nearly tripled to 1,100 metres in length, all in the upper 300 m;
• Assay results from DDH OAX-17-89 confirm an across-strike width of up to 75 metres for gold mineralization at this location, with an intersection of 4.21 g/t gold over 10.45 m;
• Visible gold was observed in OAX-17-116, which assayed 53.40 g/t gold over 0.50 m;
• The broad distribution and robustness of the gold veins at Zone 4 are confirmed by other assay results, such as 3.52 g/t gold over 11.90 m, including 14.90 g/t gold over 1.10 m (OAX-17-088EXT); 2.02 g/t gold over 18.35 m, including 5.59 g/t gold over 3.10 m (OAX-17-116); and 4.01 g/t gold over 4.00 m, including 10.30 g/t gold over 0.90 m (OAX-17-108).

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