Alexandria Mapping Program Finds More Evidence For Gold at Matachewan with 7.90 g/t Gold at Surface

TORONTO, ONTARIO, Oct 08 (MARKET WIRE) --
Alexandria Minerals Corporation (TSX VENTURE: AZX)(FRANKFURT: A9D)
reports today on the results of its recent surface mapping and sampling
programme on its Matachewan property in Ontario, which includes a grab
sample assaying 7.90 g/t Au.

The exploration programme sheds further light on the geological
environment in the southeastern part of the property, this portion of
which is held jointly with Carmax Explorations Inc. Of the 170 grab
samples taken over 8 claims, 4 assayed between 0.89 g/t Au and 7.90 g/t
Au, all occurring within syenite or at the contacts between syenite and
volcanic rocks. This geology is similar to that at the adjacent
Young-Davidson gold project of Northgate Minerals Corporation, which
hosts Proven and Probable Reserves of 2.8 million ounces of gold,
principally in syenite (see Northgate website).

This area of Alexandria's property is underlain mainly by interleaved
syenite and basaltic volcanic rocks and tuffs, with extensive potassic
alteration, quartz veining and pyrite. Strong coincident Induced
Polarization and magnetic anomalies further characterize the anomalous
area. Alexandria previously intersected 3 separate gold-bearing intervals
in a drill hole completed in early 2008, between 165.5 m and 191.0 m
downhole, assaying 2.25 g/t Au over 6.0 m, 4.14 g/t Au over 1.5 m, and
5.34 g/t Au over 1.5 m (Press Release June 18, 2008).

Eric Owens, President of Alexandria, said, "During the past year we have
had encouraging success at several projects, including Matachewan, across
the breadth of our large Cadillac Break property portfolio. We now have
significant development options and we will analyse all recent results in
order to focus on the projects that have the most potential."

Alexandria's Matachewan property is located along the Cadillac-Larder
Lake Break, about 3 km east of Northgate's Young Davidson gold project,
and about 40 km southwest of Kirkland Lake, Ontario, which has produced
some 33 million ounces of gold from mines such as the Wright-Hargreaves,
Kirkland Lake and Macassa mines, all near the Cadillac-Larder Lake Break.
In total, Alexandria's property extends for 10 km along the "Break" with
several geophysical and geological targets, as well as targets generated
by past explorers, which the Company will be evaluating for future work.

The results presented in this press release are exploratory in nature and
have been reviewed by the company's Qualified Persons, Mr. Eddy Canova,
PGeo and Dr. Eric Owens, PGeo. There is no Current Resource on this
property as defined by NI 43-101, and there is no guarantee that an
economic gold deposit underlies the properties. More work by an
independent Qualified Person ("QP") will be required in order to bring
the properties into compliance with resource definitions in NI 43-101.
The surface sampling program is consistent with industry best practices
and the Company's QA/QC programme continues to be adhered to: samples are
recorded, bagged and sent to ALS Chemex Labs in Val-d'Or for preparation
and assay. Samples are analyzed for Au, Ag, Cu and Zn, via a 30 gram pulp
by FAA for Au and AA for Ag, Cu and Zn. Re-assays by FA gravimetric
finish are performed on samples assaying greater than 1.0 g/t Au and
re-assays greater than 5.0 g/t Au are checked a second time by FA
gravimetric finish.

Alexandria Minerals Corp. is a Toronto-based mineral exploration and
development company, focused on the exploration for precious metals on
mineral properties located in Northern Ontario and Quebec. The Company's
management has extensive global experience with small to large mining
companies, from grass-roots exploration to the exploitation of mineral
deposits. The Company is a reporting issuer in the provinces of British
Columbia, Alberta and Ontario.

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.

Contacts:
Alexandria Minerals Corporation
Andreas Curkovic
416-577-9927

Alexandria Minerals Corporation
Eric Owens
416-363-9372

Alexandria Minerals Corporation
Matt Morrish
416-363-9372
www.azx.ca

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