Alexandria Continues to Expand Akasaba Gold Potential with Deep Intersection

Toronto, Ontario, December 7, 2010 �?" Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today that it has intersected numerous high grade gold-silver-copper veins in the target Mine Horizon between 320 m and 450 m vertical depth, the deepest intersections yet at the Akasaba Au-Ag Mine in Val d�?TOr, Quebec.

Diamond Drill Hole IAX-10-99 intersected the Mine Horizon more than 200 m below the bottom of the Akasaba Mine, in a broad zone assaying 1.19 g/t Au over 16.22 m (all lengths are True Widths) between 366 m and 393 m downhole (See Table 1 below). The principal veins within this zone assayed:

• 14.81 g/t Au over 0.32 m
• 5.73 g/t Au, 10.70 g/t Ag, and 0.89% Cu over 0.20 m
• 6.53 g/t Au over 0.12 m
• 6.10 g/t Au over 0.24 m
• 6.58 g/t Au over 0.13 m
• 2.21 g/t Au over 0.45 m
• 4.21 g/t Au over 0.14 m
• 2.82 g/t Au over 0.90 m

Further downhole, below 400 m vertical depth, assay results include the following:

• 6.96 g/t Au, 13.80 g/t Ag, and 0.84% Cu over 0.45 m
• 7.85 g/t Au, 21.60 g/t Ag, and 1.61% Cu over 0.37 m

Eric Owens, Alexandria President & CEO, said, �?oWe continue to be excited by these results that increasingly prove significant depth potential at Akasaba, and are awaiting assay results for 6 more holes below the 300 m level. We have now begun a downhole Induced Polarization study to help guide our future drilling at depth.�?�

For more information contact:

Dr. Eric Owens, President and CEO, P. Geo

        (416) 363-9372

Andreas Curkovic, Investor Relations

        (4i6) 577-9927

    www.azx.ca