Alexandria Continues to Delineate High Grade Zone at Akasaba with 85.89 g/t
Au over 0.5 m

TORONTO, Sept. 8 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today that it has drilled its highest grade intersection yet, 85.89 g/t Au over 0.5 m (core length), part of a wider zone grading 13.38 g/t Au over 2.8m (estimated true width), on its Akasaba property in Val d'Or, Quebec.

Diamond Drill Hole IAX-10-86 intersected the target zone east of the mine area at 100 m vertical depth. The high grade zone now extends 200 m along strike by at least 325 m depth, based on Alexandria's drill holes (Figure 1 and Table 1 below). The high grade intersection occurs within a broader mineralized zone which grades 2.36 g/t Au over 14.70 m. A second hole, DDH IAX-10-84, located 300 m east of hole 86, tested the target zone less than 50 m deep, recorded no significant results. Assay results are pending for holes 80 through 83 in between the two holes.

Eric Owens, Alexandria President & CEO, said, "This exceptional intersection provides further clarity about the growing high grade zone that we have been able to consistently expand throughout this drill campaign. With our recent successful financing, we will be increasing our drilling budget considerably at Akasaba in order to further delineate the potential of the Mine Horizon."

Figure 1. Cropped Longitudinal Section, eastern side of Akasaba Mine along the Mine Horizon, showing the high grade zone with new drill results (red stars).

http://files.newswire.ca/137/Akasaba1.pdf

Logging and assays are pending for 15 drill holes completed within the Mine Horizon, below the mine area and to the east and west of the mine area. Below the mine area, where drill hole IAX-10-72 intersected 1.97 g/t Au over 63.30 m (Press Release June 17, 2010), seven holes have been completed based on historical drill data. Many of the historical holes did not penetrate the full width of the horizon, and many show significant gold mineralization to a depth of more than 300 m.

TABLE 1. Drill Hole Assay Results, Akasaba Project

Hole #	From (m)	To (m)	Length (m)	Est. True     Width (m)	Au (g/t)     Average
IAX-10-84	No significant Assays
IAX-10-86	209.60	230.60	21.00	14.70	2.36
IAX-10-86 incl.	209.60	213.60	4.00	2.80	13.38

The Akasaba Mine produced some 250,000 tonnes of gold-silver ore, at a reported average grade of 5.2 g/t Au, from 1961-1963. Roughly 40,000 ounces of gold and 12,000 ounces of silver were produced from a shallow level stope to 90 m depth (Figure 1). Very little drilling has been completed below this depth. To-date, Alexandria has completed roughly 50 holes totaling some 14,500 m of drilling, most of which has concentrated on targets within the upper 200 m depth, with a few extending to the 300 m target depth.

An updated longitudinal section can be viewed at www.azx.ca.

The results presented in this press release are exploratory in nature and have been reviewed by the company's Qualified Persons, Jared Beebe, PGeo, and Dr. Eric Owens, PGeo. These results have not been verified by an Independent Qualified Person ("QP") and therefore should not be relied upon except for their exploratory value. There is no Current Resource underlying the Akasaba property as defined by National Instrument 43-101, and no guarantee that an economic gold deposit is present. Further work by Alexandria and an Independent QP will be required to bring the data into compliance with NI 43-101.

The Company's sampling protocol has been outlined in previous press releases, and additional information is available by request. Currently, the Company is using AGAT Labs, an ISO 17205 certified company, with preparation facilities in Sudbury for its analysis. Because of the concern of a "nugget effect", the company routinely re-checks its assay results, and where re-checked assays vary by greater than 10%, the samples are subjected to a metallic screen assay technique whereby a 1 kg separate of the original sample is screened to a 30 g aliquot prior to a FA gravimetric finish.

About Alexandria Minerals Corporation

Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest property packages along the prolific, gold-producing Cadillac Break in Val d'Or, Quebec. The Company has two NI 43-101 compliant gold resources, at Orenada and Sleepy, and is currently focused on advancing its Orenada and Akasaba gold projects. The Company recently completed a $5,000,000 private placement, led by Pollitt & Co. Inc. of Toronto, in which, significantly, Agnico-Eagle Mines Ltd. maintained its 10% interest in the Company.

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Andreas Curkovic, Investor Relations
[phone]
Eric Owens, Alexandria Minerals Corporation
416-363-9372
www.azx.ca
[email protected]