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Alexandria Extends
Orenada 2 at Depth, Intersects 2.45 g/t Gold Over 13.65 m
Toronto, Ontario - October 31, 2007 - Alexandria Minerals Corporation
(TSX-V: AZX; Frankfurt: A9D) intersected 2.45 g/t Au over 13.65 m in hole
OAX-07-19, including 4.12 g/t Au over 4.60 m, at 335 meters vertical depth,
making it the deepest hole penetrating Orenada 2 to-date (all reported widths
are core lengths). Assay results from fourteen holes remain pending as the
Company continues to enlarge the gold-bearing zones at its Orenada project.
These results occur 225 meters down dip from previously reported hole
OAX-07-16, which yielded 11.44 g/t Au over 8.15m (Press release, October 16,
2007), and substantially increase the size of near-surface mineralization at
Orenada 2.
The Company believes Orenada, which is located 6 km southeast of
Agnico Eagle's Goldex Project (underground reserves and resources of 2.4
million ounces Au at 2.39 g/t Au), is part of a large gold-bearing system
along the Cadillac Break where significant gold mineralization has been
intersected in drill holes and trenches over a minimum strike length of 4
kilometers. This zone remains open to the east and west, and at depth, where
little or no historic exploration has taken place.
Also at Orenada 2, drill hole OAX-07-18, a near surface hole drilled
50 m above OAX-07-16, yielded 0.30 g/t Au over 10.75 m. These results suggest
that the hole is located near the edge of the gold-bearing zone at Orenada 2.
Alexandria has intersected similar results from exploratory holes elsewhere
on the Cadillac Break properties, and views such results as targets with
potential for follow-up exploration.
At Orenada 4, drill hole OAX-07-17 intersected 1.45 g/t over 3.45 m at
a vertical depth of 400m, including a grade of 5.24 g/t Au over 0.80 m. These
results extend mineralization 270 m east of previously reported hole
OAX-07-13A, which intersected 2.60 g/t Au over 14.40 m(Press release, August
15, 2007).
As part of ongoing activities, the Company has been compiling historic
exploration data from the Cadillac Break properties, including drill hole
information from Orenada. Three deep historic holes drilled by Aur Resources
Inc. at Orenada 4, within the 240 m gap between holes OAX-07-13 and
OAX-07-17, intersected strong gold values, including 8.12 g/t Au over 4.87 m
(Hole 407-22) and 2.07 g/t Au over 12.07 m (Hole 407-24).
Further information can be viewed by clicking the link http://www.azx.ca/currentdrilling.asp
or visiting the Company's website, www.azx.ca.
The results presented in this press release are exploratory in nature
and have been reviewed by the company's Qualified Person, Eddy Canova, PGeo. The
drilling 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,
in intervals of 0.3 meters to a maximum of 1.5 meters. The samples are
recorded, bagged and sent to Bourlamaque Assay Lab in Val-d'Or for 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: 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.
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