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08.04.2008
Alexandria to Acquire 100% Interest in Remaining Cadillac Break Gold Properties, Val d’Or, from Teck Cominco


Alexandria to Acquire 100% Interest in Remaining Cadillac Break Gold Properties, Val d’Or, from Teck Cominco

Toronto, April 8, 2008 – Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) has signed an agreement with Teck-Cominco Limited (“Teck Cominco”) to accelerate the acquisition of a 100% interest in 10 properties totaling 351 over 6,342 hectares, including Orenada, within the group of properties amalgamated to form the “Cadillac Break” properties in Val d’Or, Quebec.

The ten properties, which were governed by a previous option agreement between Alexandria and Aur Resources (“Aur”, now Teck Cominco), consist of the following claim groups: Airport, Orenada, Mid-Canada, Ducros, Oramaque, Sabourin Creek, Lourmet, Orcour, Trivio, and Vaumon (Press Release September 28, 2006). Together with staked ground, and properties purchased from IAMGOLD Corporation, Alexandria will own 100% of all 18 properties in its target-rich, 32 km long Cadillac Break Properties in Val d’Or.

The Cadillac Break Properties host four historic gold deposits, namely Orenada 4, Sleepy, Akasaba and Mid-Canada, as well as one historic copper deposit, Orenada 1. Over the past 15 months, Alexandria has completed 50 exploratory drill holes (16,340 m) at Orenada 4 and Orenada http://www.financial.de/news/unternehmensnews/2008/04/08/dj-irw-press-consolidated-abaddon-2, where it has substantially increased the size of these gold-bearing zones. Gold mineralization now stretches over 700 m along strike with depths up to 700 m, and is wide open along strike and at depth. Grades up to 7.90 g/t Au over 7.48 m, including 21.37 g/t Au over 2.41 m (Press Release, March 29, 2007), and 1.09 g/t Au over 62.23 m (Press Release, April 25, 2008) have been intersected in drill holes at Orenada since Alexandria began drilling in early 2007 (All intersections are true widths).

In the original agreement with Aur Alexandria had the right to earn a 50% in the 10 properties by completing the following commitments: expending $C3,000,000 on exploration on the properties, and to pay to Aur Resources C$500,000 in cash and share equivalents, over five years, by July 31, 2011. The agreement contained a second option as well, allowing the Company to earn a further 50% (totaling 100%) by committing to further exploration expenditures of C$5,000,000 over three subsequent years, by July 31, 2014.

To-date, Alexandria has completed approximately C$3,500,000 in exploration expenditures on the properties, and was required to complete $120,000 in cash payments and issue shares valued at $200,000 in order to earn its first 50%.

The new agreement with Teck Cominco, who amalgamated with Aur Resources at the end of 2007, amends the original agreement between Aur and Alexandria. Subject to TSX and regulatory approval, Alexandria will issue 3,000,000 Company treasury shares to Teck Cominco in exchange for 100% interest in the properties with no further cash, share or work expenditure payment. As with the previous agreement, the properties are subject to a 2.5% NSR.

Alexandria currently has one drill rig operating on its Cadillac Break Properties in Val d’Or. The rig has recently completed a four hole drilling programme at the historic Sleepy gold deposit, where Cambior Inc. defined a 350 m long near-surface gold zone in the early 1990’s, to a depth of 200 m. This zone is open on all sides. Historic exploration drill holes intersected up to 18.66 g/t Au over 12.50 m (True width), and the first three holes of Alexandria’s drill programme have tested possible down-dip and along-strike extensions of gold mineralization where Alexandria drilled 3.35 g/t Au over 8.27 m true width (Press Release, June 6, 2007). Assay results are pending.

In the early 1990’s Cambior Inc. estimated a pre- National Instrument 43-101 resource of 152,000 tonnes grading 5.2 g/t Au at Sleepy. Please note that this is not a Current Resource as defined by NI43-101, and as such cannot be relied upon except as guidance for exploration. Verification by an independent Qualified Person is needed to bring this into compliance.

The second drill rig just completed drilling the eastern extension of gold mineralization at Orenada 2, as part of the company’s efforts to better define the extent and grade of the gold zones at this location. Since the beginning of 2008, the Company has completed 23 drill holes on its Orenada, Oramaque, Sleepy and Matachewan properties.

Alexandria Minerals Corp. is a Toronto–based mineral exploration and development company, currently 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.

The results presented in this press release are either historical or exploratory in nature and have been reviewed by the company’s Qualified Persons, Eric Owens, PGeo, and Eddy Canova, PGeo. Historical data presented in this press release should not be relied upon, as the Company has not conducted sufficient testing to verify this information.

WARNING: The Company relies upon litigation protection for "forward-looking" statements. 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.

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

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

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