Alexandria Intersects 121.00 g/t Au over 1.0 m at Akasaba, Val d'Or, Quebec

TORONTO, Oct. 19 /CNW/ - Alexandria Minerals Corporation (TSX-V: AZX; Frankfurt: A9D) reports today that it continues to intersect high grade gold mineralization on its Akasaba project in Val d'Or, Quebec, by drilling 19.33 g/t Au over 6.5 m (core length), which includes an interval containing 121.00 g/t Au over 1.0 m.

The intersection in Diamond Drill Hole IAX-10-87 occurred at 150 m vertical depth, below the eastern fringe of the historic gold mine, located between the mine area and the recently discovered high grade zone to the east (see Figure 1 below).

Eric Owens, Alexandria President & CEO, said, "We are excited to find the highest grade intercept ever at Akasaba, especially as it occurs between the historic mine area and the high grade zone, which suggests the potential for broader mineralization in between. In addition to awaiting further assays for this last campaign, we have completed one drill shift in October and are preparing for the next drill shift to begin in early November.

Click the link below to view Figure 1. Cropped Longitudinal Section, eastern side of Akasaba Mine along the Mine Horizon, showing the pierce point of new hole IAX-10-87 (red star). Reported intersection lengths are estimated true widths.
http://files.newswire.ca/137/East_Akasaba.pdf

Assay results are pending for 14 holes drilled beneath the mine area and to the west of the mine area. An updated longitudinal section can be viewed at www.azx.ca.

TABLE 1. Drill Hole Assay Results, Akasaba Project

Hole	From (m)	To (m)	Length (m)	True Width (m)	Au (g/t)	Ag (g/t)	Cu (%)
IAX-10-87	190.25	193.25	3.00	2.10	0.85	7.50	0.13
	210.25	217.25	7.00	4.90	0.80	0.50	0.03
	241.75	246.75	5.00	3.50	1.52	1.34	0.08
incl.	245.75	246.75	1.00	0.70	5.16	1.10	0.01
	254.75	261.25	6.50	4.55	19.33	2.06	0.08
incl.	256.75	257.75	1.00	0.70	121.00	2.50	0.08

In other matters, the company has granted an aggregate of 2,700,000 incentive stock options exercisable at a price of $0.17 for a period of 5 years. Of these, 2,245,000 have been granted to the company's directors and officers and the remainder have been issued to employees and consultants.

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. 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.

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