Editors Note: There is an image associated with this press release.

Alexandria Minerals Corporation (TSX
VENTURE:AZX)(FRANKFURT:A9D)(PINKSHEETS:ALXDF) is pleased to provide an update on
drill target planning related to its recently completed geophysical survey on
its 100%-owned Akasaba project in Val d'Or Quebec, which includes a very strong
untested 700m long geophysical anomaly east of the Akasaba Mine.


Over the winter, the Company completed a surface Ipower3D Induced Polarization
("IP") survey over its Akasaba and Valdora projects, previously reported on
March 12, 2014. Results from this survey show that the main Mine Horizon at
Akasaba yields a very strong chargeability anomaly, which is consistent with the
Akasaba main ore zones below the past-producing Akasaba Mine.


Of particular note is a very strong 700m long anomaly, similar to the Akasaba
Mine Horizon, which occurs 1200 m along strike to the east of the Akasaba
historical Mine, and will be a high priority target (See Figure 1 below). This
target is as yet untested and, like the main Mine Horizon, this anomaly has a
vertical extent of more than 650 m, appearing to plunge to the east.


To view Figure 1. High Chargeability Anomalies (in Red and Yellow colors) on
IPower3D map of the Akasaba Mine Horizon and showing the strong IP anomaly to
the east (taken from 150m below surface), please visit the following link:
http://www.marketwire.com/library/20140417-NewDrillTarget.jpg. 


The IPower 3D was selected to better aid Company geologists in selecting both
shallow and deep-level targets as well as to define new along strike targets.
These anomalies are vertically extensive, expressing themselves from surface to
the maximum survey depth of 650m.


Alexandria geologists are in the process of reviewing the most recent
geophysical results and planning additional drilling exploration work on the
Akasaba and Valdora projects. 


The Mine Horizon at Akasaba hosts the following Current Resources from the
surface down to 650 m vertical depth:




----------------------------------------------------------------------------
                                 Tonnes    Grade (g/t Au)        Ounces Gold
----------------------------------------------------------------------------
Underground Indicated           609,300              5.93            116,240
----------------------------------------------------------------------------
Underground Inferred          1,475,600              5.58            264,960
----------------------------------------------------------------------------
Main Pit Indicated            3,009,200              1.37            132,550
----------------------------------------------------------------------------
Satellite Pit Indicated         219,900              1.93             13,640
----------------------------------------------------------------------------



Note: Resources are stated as released in press release from February 20th, 2014
http://azx.ca/news/2014/news20140220.html


From 2011 to 2013, Alexandria discovered and built a significant gold-copper
resource in the southwestern part of its Akasaba property, the West Zone,
hosting a National Instrument 43-101 compliant Inferred Resource of 14 million
tonnes with an average grade of 0. 7 g/t gold and 0.4% Cu (see Press Release
February 7, 2013).


Alexandria recently sold the West Zone to Agnico Eagle Mines ("AEM") for $5
million plus 2% NSR (Press Release January 14, 2014). AEM reports that it has
since completed its infill drilling program on the West Zone, and is currently
working on community outreach, environmental permitting and geotechnical studies
as it moves down the path toward production.


Drill testing of the geophysical targets will commence in June, after spring
thaw runs its course. The Company is currently wrapping up a 4,000 m drill
program on its Sleepy project, located 15 km east of Akasaba.


Program design, management, and Quality Control/Quality Assurance are governed
by Alexandria's exploration group of which Phillippe Berthelot, P.Geo, is the
Company's Qualified Person. Mr. Berthelot has reviewed the results in this press
release. All exploration work on the property is conducted under the direct
supervision of Mr. Berthelot and Emilie Batailler P.Geo. The QA/QC program is
consistent with NI 43-101 and industry best practices and has been previously
addressed in the NI 43-101 Technical Report on the Cadillac Break properties
(February 2008) as well as in subsequent NI 43-101 reports found on the
Company's website or on www.sedar.com.


Further information about the Company is available on the Company's website,
www.azx.ca, or our social media sites listed below:


Facebook:
https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628



Twitter: https://twitter.com/azxmineralscorp 

YouTube: http://www.youtube.com/AlexandriaMinerals 

Flickr: http://www.flickr.com/alexandriaminerals/

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. Global gold
resources are distributed between three projects on its Cadillac Break Property
package, Akasaba, Sleepy, and Orenada, the details of which can be found on the
Company's website at www.azx.ca. 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 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 PLEASE CONTACT: 
Alexandria Minerals Corporation
Mary Vorvis
Vice President, Corporate Development
416-305-4999


Alexandria Minerals Corporation
Eric Owens
PGeo, President/CEO
416-363-9372
info@azx.ca
www.azx.ca

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