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Alexandria Minerals to Complete NI 43-101 Resource Estimates on Orenada and Sleepy Properties, Val d’Or, Quebec

Toronto, Ontario, March, 10, 2009 – Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) has commissioned an independent, National Instrument 43-101-compliant, resource estimate for the Orenada and Sleepy gold projects on the Company’s large Cadillac Break property group in Val d’Or, Quebec.

Over the past two years the Company has significantly enlarged these historic gold deposits and, given the shallow level of mineralization and close proximity to infrastructure in Val d’Or, Alexandria’s management is confident in the value of these deposits. Both are still open along strike and at depth, providing further upside potential for growth.

“The continued success at the Orenada and Sleepy deposits is very encouraging for the Company,” says Alexandria’s President, Eric Owens. “Advancing these gold deposits to 43-101 resource standards will bring value to shareholders and the Company, and allow us to plan for future development. We look forward to the release of a these estimates this summer.”

Alexandria is currently completing a four hole drill program in the Akasaba Mine area, the third of four historic gold deposits, on its Cadillac Break property group. Akasaba Gold Mines, Ltd., produced 265,000 tonnes of ore grading 5.20 g/t gold via underground operations between 1960 and 1963. The ore is hosted within pyrite-pyrrhotite-chalcopyrite mineralization in felsic to intermediate volcanic and tuffaceous rocks, and consists of four parallel stacked lenses, of which only the southernmost lens, Lens A, was partially mined.

This drill program is designed to verify historic high grade gold zones and to test for enlargement of these zones. Historic drill holes on the property record such high grade intercepts as 18.12 g/t Au over 9.8 m from Lens B, and 56.57 g/t Au over 1.2 m and 39.62 g/t Au over 4.5 m from the northernmost Lens D. Subsequent work in the 1980’s by Soquem (La Societe Miniere Louvem Inc., 1987) estimated a pre NI 43-101, historic resource of 255,000 tonnes grading 6.33 g/t Au (Please note further work by an independent geologist will be required to bring this estimate into compliance with NI 43-101; the deposit is not a Current Resource at this time). As the historic drilling has been insufficient in terms of delineating the deposit, and mostly confined to less than 150 m depth, Alexandria considers the upside potential for discovery of more gold at Akasaba quite strong.

In other matters, the Company is being featured on CEO Clips, a series of 1-2 minute corporate profiles on Canadian companies, on BNN beginning March 9th, 2009 until March 15th, 2009. It can also be viewed online via this link: http://www.b-tv.com/i/videos/BNNAlexandria.wmv, and will be posted on Yahoo Finance Canada, stockhouse.ca and MSN Finance as well as www.ceoclips.com. The technical information presented in this press release is historical in nature and has been reviewed by the company’s Qualified Persons, Eddy Canova, PGeo, and Dr. Eric Owens, PGeo. The historical information does not conform to the standards which define a Current Resource as laid out in National Instrument 43-101, nor does the Company intend to convey such meaning. The Company views the project as a high quality exploration target, with considerable potential for growth. Further work and due diligence by the Company and an independent Qualified Person, will be required before compliance with the standards laid out in NI 43-101 can be attained.

Alexandria Minerals Corp. is a Toronto–based mineral exploration and development company, focused on the exploration for precious and base 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.


PLEASE CONTACT
Coal Harbor Communications
Dale Paruk
Tel: 1+ (604) 662-4505
Toll-free: 1+ (877) 642-6200 info@coal-harbor.com

Alexandria Minerals Corporation
Eric Owens (416) 363-9372
www.azx.ca
info@azx.ca


The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.



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