Alexandria Releases New Trench Results At Akasaba Grading Up To 7.62 g/t Au Over 0.5 m and Will Begin First Major Drill

TORONTO, ONTARIO, Nov 12 (MARKET WIRE) --
Alexandria Minerals Corporation (TSX VENTURE: AZX)(FRANKFURT: A9D)
reports that it will begin this week a 2,500 m drill programme on its
past-producing Akasaba gold Project in Val d'Or, Quebec, following the
encouraging results received from its mapping, sampling and trenching
activities.

Geophysical and geological evidence show that the volcanic stratigraphy
that hosts the past-producing Akasaba Mine ("Mine Horizon") can be traced
for more than 2.5 km via a strong magnetic anomaly, with a coincident
Induced Polarization ("IP") anomaly at least 1.6 km long. The results of
channel sampling in trenches along this trend have further verified the
extent of the Mine Horizon. Trenches excavated and sampled up to 800 m
along strike with the Akasaba Mine include:

- Trench AKTR09-4, 400 m west of minesite, 1.79 g/t Au over 13.50 m

- Trench AKTR09-2, 350 m west of minesite, 7.62 g/t Au over 0.5 m

- Trench AKTR09-2, 350 m west of minesite, 1.21 g/t Au over 5.00 m and
0.74 g/t Au over 23.30 m

- Trench AKTR09-3, 375 m west of minesite, 2.01 g/t Au over 4.50 m

- Trench AKTR09-7, 800 m west of minesite, 0.36 g/t Au over 9.00 m

In addition, other similar coincident magnetic and IP anomalies occur
elsewhere on the property, suggesting the potential for multiple
horizons. Trench AKTR09-1, located 200 m northeast of the minesite,
appears to be on such a horizon, recording 1.16 g/t Au over 10.50 m from
similar sulfide-enriched volcanic rocks.

Eric Owens, President and CEO of Alexandria, said, "Akasaba continues to
show a lot of promise for future development. This well mineralized
historic deposit has considerable potential along strike and at depth as
well as over multiple horizons."

This is just the second drill programme on the property, and it follows a
smaller and successful initial round of drilling in the spring. The
results from that first round of drilling showed the potential for growth
of the gold- and copper-rich semi-massive sulfide. Holes drilled more
than 100 m below previously known mineralization intersected 4.22 g/t
over 10.35 m, including 24.50 g/t Au over 1.3 m (Press Release April 30,
2009), and separately, 2.77 g/t Au over 18.90 m, including 57.23 g/t over
0.5 m (Press Release May 26, 09).

The Company will complete 10-12 holes on the property for the purpose of
better defining and enlarging the historical deposit, as well as testing
some of the new targets identified during its summer field campaign. For
further information, please visit www.azx.ca.

In other matters, the Company has filed its National Instrument 43-101
resource report entitled "NI 43-101 TECHNICAL REPORT ON THE ORENADA
PROPERTY" on SEDAR.

The results presented in this press release are exploratory in nature and
have been reviewed by the company's Qualified Persons, Eddy Canova, PGeo,
and Dr. Eric Owens, PGeo. There is no Current Resource as defined by
National Instrument 43-101 on the Akasaba Property, and there is no
guarantee that an economic gold deposit exists. Further work by
Alexandria and an Independent Qualified Person will be required to bring
the data into compliance.

The sampling program employs a Quality Assurance/Quality Control program
consistent with NI 43-101 and industry best practices. Drill core is
NQ-sized, and is logged, sampled and split at the Company's Val d'Or
office to a maximum of 1.5 meters in length. The 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.

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
Investor Relations
(416) 577-9927

Alexandria Minerals Corporation
Eric Owens
(416) 363-9372

Alexandria Minerals Corporation
Matt Morrish
(416) 363-9372
info@azx.ca
www.azx.ca

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