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TORONTO,
ONTARIO--(Marketwire - Sept. 30, 2009) - Alexandria Minerals
Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) reported today that it has
optioned one claim from its Airport Property in Val d'Or, Quebec, to
Kalahari Resources Inc.
The Airport property lies immediately south of Kalahari's Lamaque
property, which hosts a number of gold-bearing targets including the
#10 Zone and #4 Plug combined, which contain a National Instrument
43-101 compliant Inferred Resource of 1.37 million tons grading 0.186
oz/ton (see Kalahari Press Release, October 20, 2004), principally in
high grade veins. The terms of the agreement with Kalahari for the
Airport claim include a payment of $25,000 cash to Alexandria and the
issuance of 500,000 Kalahari shares to Alexandria over a period of
twelve months, as well as incurring $35,000 in exploration expenditures
over a period of 24 months. Alexandria retains a 2% NSR, one half of
which may be purchased for $1,000,000.
Alexandria's Airport project consists of 38 claims forming the
westernmost property in the Company's extensive Cadillac Break Property
Group, one of the largest continuous property packages in the
world-class gold mining camp of Val d'Or. The Cadillac Break properties
are host to four historic gold deposits, 3 of which Alexandria is
actively moving forward through exploration. Most recently, Alexandria
announced a National Instrument 43-101 compliant resource estimate at
its Orenada near-surface, disseminated gold project, with, at a 1 g/t
Au cut-off, a Measured and Indicated Resource of 4,598,334 tonnes
grading 1.82 g/t Au, for 268,528 ounces of gold, and an Inferred
Resource of 2,478,674 tonnes grading 1.56 g/t for 124,248 ounces of
gold (Press Release September 16, 2009).
In other matters, Alexandria announces that, further to a news release
dated July 22, 2009, the shareholders' rights plan (the "Rights
Plan") received shareholder approval at its recent annual general
meeting. Alexandria has also received approval of the Rights Plan from
the TSX Venture Exchange. A copy of the Rights Plan is available on
SEDAR (www.sedar.com).
Alexandria Minerals Corp. is a Toronto-based mineral exploration and
development company, 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.
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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