Alexandria Extends Near-Surface High Grade Gold Zone to the East at Akasaba,
Val d'Or, Quebec

TORONTO, May 6 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today that it has intersected two separate high grade intervals, an upper zone assaying 36.4 g/t Au over 0.5 m, and a lower zone assaying, 8.47 g/t Au over 1.00 m, on its Akasaba project near Val d'Or, Quebec, extending near-surface high grade gold mineralization a further 200 m to the east of previously known mineralization. Assay results are still pending for four holes completed in March.

Drill Hole IAX-10-75 intersected the upper high grade zone, part of a broader intercept of 3.70 g/t Au over 6.75 m, at a vertical depth of 60 m, 300 m east of the mine shaft, and opens up a previously untested area. The lower high grade zone was intersected at a 95 m vertical depth, and was also part of a broader mineralized zone assaying 4.40 g/t Au over 3.50 m.

Eric Owens, President and CEO of Alexandria Minerals, said, "These impressive intercepts further demonstrate why exploring Akasaba has become our main focus. The importance of these results is that they show that the high grade zone is wide open to the east where very little previous work has been done. Based on these results we intend to begin drilling again soon."

    
       Table 1. Significant assays for diamond drill holes at Akasaba.
    -------------------------------------------------------------------------
                                              Length    Est'd True
    Hole No.         From (m)      To (m)       (m)      Width (m)   Au (g/t)
    -------------------------------------------------------------------------
    IAX-10-74         161.25       162.6        1.35        1.00       0.459
    -------------------------------------------------------------------------
    IAX-10-74         215.15       224.4        9.25        7.56        1.06
    -------------------------------------------------------------------------
        incl.         220.15       220.9        0.75        0.50        3.19
    -------------------------------------------------------------------------
    IAX-10-74         234.35      237.35        3.00        2.50        0.77
    -------------------------------------------------------------------------
    IAX-10-74         280.95      281.95        1.00        0.80        2.57
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    IAX-10-75          87.45       94.20        6.75        4.80        3.70
    -------------------------------------------------------------------------
        incl.          90.70       91.20        0.50        0.35       36.40
    -------------------------------------------------------------------------
    IAX-10-75         102.10      103.60        1.50        1.20        0.45
    -------------------------------------------------------------------------
    IAX-10-75         109.10      110.10        1.00        0.80        0.61
    -------------------------------------------------------------------------
    IAX-10-75         111.10      112.60        1.50        1.30        0.48
    -------------------------------------------------------------------------
    IAX-10-75         119.25      133.85       14.60       10.35        1.53
    -------------------------------------------------------------------------
        incl.         127.35      133.85        6.50        3.50        4.40
    -------------------------------------------------------------------------
          and         131.35      132.35        1.00        0.75        8.47
    -------------------------------------------------------------------------
    IAX-10-75          193.2       194.2        1.00        0.75        0.65
    -------------------------------------------------------------------------
    IAX-10-75          257.8       259.8        2.00        1.70        0.89
    -------------------------------------------------------------------------
    IAX-10-75          378.7       379.7        1.00         0.8        2.16
    -------------------------------------------------------------------------
    

Drill hole IAX-10-74, a 50 m offset of an historical hole, also intersected encouraging gold mineralization, assaying 1.06 g/t over 9.25 m, including 3.19 g/t Au over 0.75 m. The mineralized zone was intersected at a vertical depth of 175 m, revealing continuity of gold mineralization at depth.

The Company is scheduled to begin its next round of drilling at Akasaba, a 5,000 m programme, in middle of May. Currently, assay results are still pending for four holes, two of which fill in gaps in previous drilling and two of which tested the eastern high grade target a further 200 meters east of known gold mineralization.

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. Because of the concern of a "nugget effect", it is worth noting that 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 has recently announced a strategic equity placement by Agnico-Eagle Mines Ltd., one of Canada's premiere gold mining companies, who have three gold mines along the same geologic trend.

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, [phone], www.azx.ca [email protected]