Alexandria's Metallurgical Study Indicates 95% Recovery of

Alexandria's Metallurgical Study Indicates 95% Recovery of Gold at
TORONTO, ONTARIO -- (Marketwire) -- 11/06/12 -- Alexandria Minerals
Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) is pleased to report on
the results of its first metallurgical study from its Akasaba Gold
project in Val d'Or, Quebec. 
Highlights of the study, which was completed by SGS Canada Inc., at
Vancouver, British Columbia, include: 

--  Whole Ore Cyanide Leaching Tests recovered 95% of the gold from the
    underground sample and 91% of the gold from the open pit sample. 
--  Combined gravity and cyanide leach of gravity tailings also yielded
    encouraging results, recovering 92% of the gold from the underground
    sample and 90% from the open pit sample. 
--  The samples are acid neutralizing, and not expected to generate acid.

The study tested two representative, 60 kilogram composite samples
from the Current Resource area in the vicinity of the historic
Akasaba Mine: 1) one of near surface, open pit resource material
("OP") and 2) one of higher grade, underground resource material
("UG"), as delineated in the Company's National Instrument 43-101
Technical Report on the property initially released on March 27,
2012, and amended on October 2, 2012. No sample was provided from the
recently discovered West Gold-Copper Zone. 
The two composite samples were subjected to a scoping-level
metallurgical test program to get a preliminary understanding of the
extractive characteristics of the rock. The samples were subjected to
the following tests: gravity separation, flotation and leaching of
gravity tailings, whole ore rougher and cleaner flotation, whole ore
cyanidation, cyanidation of flotation rougher concentrate. In
addition, cyanide destruction of cyanide products was also tested. 
Head grades as determined by the study were 1.02 g/t Au (OP) and 2.91
g/t Au (UG). The samples were categorized as moderately hard (OP) and
medium hardness (UG) based on ball mill work index. Specific Gravity
was determined to be 3.2 g/cm3 (OP) and 2.9 g/cm3 (UG), this latter
characteristic likely a function of sulfide content. 
The Whole Ore Cyanide Leaching Tests produced the best results,
yielding 95% recovery of gold for the underground sample, and 91%
recovery for the open 
pit sample. Six standard bottle roll leach
tests were conducted for this run, with pH maintained at 10.5-11.0. A
grind of P80 = 75 microns at a residence time of 72 hours yielded the
most favorable results. 
Combined gravity separation and cyanide leach of the gravity tailings
also yielded encouraging results: 92.1% for underground ore and 90%
for open pit ore. Although initial gravity separation recovered just
2.7% of the gold from the open pit sample, and 5.1% of the
underground sample, cyanide leaching of the tailings proved effective
in increasing the recovery, with a residence time of 48 hours and P80
= 99 microns (OP) and P80 = 67 microns (UG). 
Both the underground and open pit samples responded well in the
Cyanide destruction testwork, "CND", (detoxification by SO2/air). For
the open pit sample, detoxified product containing less than 2 ppm
residual total cyanide was obtained by treating the pulp at pH=8.6
for 158 minutes retention time; the underground sample yielded 21.8
ppm total cyanide at the same pH at a retention time of 121 minutes.
Further, Acid-Base Accounting and Net Acid-Generating tests were
conducted on CND samples, and showed that the samples were
potentially to moderately acid neutralizing, and will not generate
In March 2012 Alexandria Minerals initially released its first
National Instrument ("NI") 43-101 Resource Estimate from its Akasaba
project, which contains the following Open-Pit and Underground

       Table 1. Current Resources at Akasaba (Amended October 2, 2012)      
                    Indicated Resources             Inferred Resources      
                              Grade     Total               Grade      Total
                  Tonnes   (g/t Au)    Oz. Au    Tonnes  (g/t Au)   Oz. (Au)
Underground      563,660       5.91   107,457 1,462,560      5.29    249,891
Main Pit       3,009,214       1.37   132,475                               
Satellite Pit                                   285,374      1.76     16,153
TOTALS                                239,932                        266,044

Subsequent to the resource estimate, and subsequent to the sample
collection for the metallurgical study, the Company discovered a
shallow gold-copper zone about 500 m west along strike with the
Current Resource. These shallow holes assayed up to 1.18 g/t Au,
0.70% Cu, and 3.04 g/t Ag over 118.80 m, identifying a broad,
disseminated style of mineralization which extends over 250 m along
strike and almost 200 m to depth (Press Release, July 11, 2012). Also
subsequent to the resource estimate, Alexandria drilled hole
IAX-12-195, 100 m below the Current Resource, which assayed 5.59 g/t
Au over 24.00 m, including 12.48 g/t over 8.20 m. 
These results show the continued potential of the Akasaba project,
and the Company is awaiting further results from drill holes for
which assays are pending. The success of these step-out drill
programs has opened up numerous other targets in the vicinity of the
Akasaba mine horizon.  
Separately, the Company has granted 150,000 incentive stock options
to a director of the company. The Options are exercisable at a price
of $0.10 and will expire on November 6, 2014.  
Technical information pertaining to the metallurgical study in this
report has been reviewed and approved by SGS Canada Inc., and by Eric
Owens, P.Geo., and Peter Legein P.Geo., Qualified Persons, of
Alexandria. Information pertaining to resources included in this news
release has been previously released.  
Further information about the Company is available on the Company's
website,, or our social media sites listed below: 
About Alexandria Minerals Corporation 
Alexandria Minerals Corporation is a Toronto-based junior gold
exploration and development company with one of the largest portfolio
of properties along the prolific, gold-producing Cadillac Break in
Val d'Or, Quebec. The Company is currently focused on advancing its
Akasaba project. Agnico-Eagle Mines Ltd., with two producing gold
mines in the region, owns roughly 10% of the Company. 
WARNING: This News Release may contain forward-looking statements
including but not limited to comments regarding Exchange approval of
the Agreement, payments and exploration expenditures due under the
Agreement, 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 inv
olve 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
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. 
Alexandria Minerals Corporation
Andreas Curkovic
Investor Relations
(416) 577-9927 
Alexandria Minerals Corporation
Eric Owens
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