TORONTO, March 16, 2018 –  Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D) (“AZX” or the “Company”) announces it will hold a special meeting of shareholders (the “Meeting”) on July 24, 2018.

The Meeting was requisitioned by Eric Owens, the former Chief Executive Officer who was terminated for cause, and other shareholders associated with him.  As previously disclosed, AZX received the requisition from Mr. Owens after he was terminated.

At the meeting, Mr. Owens and his associates are asking shareholders to vote to remove three current directors and to replace them with three activist nominees handpicked by Mr. Owens.

Shareholders as of May 28, 2018 will be entitled to vote at the Meeting. Shareholders will receive detailed information about the matters presented at the Meeting and how to vote in a management information circular in advance of July 24, 2018. Shareholders should read the information carefully before deciding how to vote.  In the meantime, there is no need for shareholders to take any voting action.

As previously announced, the Board of Directors of the Company appointed a Special Committee of independent directors to, among other things, undertake a comprehensive review of strategic alternatives involving the Company. Among the alternatives being considered by the Special Committee are financing transactions and transactions that may result in the sale of the Company or substantially all of its operating assets, subject to necessary shareholder approvals.  While there can be no assurance that the Company will pursue or execute any specific action or transaction, the date of the Meeting was set by the Board to allow sufficient time to complete and announce the results of the review prior to the Meeting.

Despite the unnecessary time and money that Mr. Owens’ action will require, the Board remains focused on continuing to deliver on its plan to maximize value for all shareholders.

Advisors

Kingsdale Advisors is acting as strategic shareholder and communications advisor and Bennett Jones LLP is acting as legal advisor to AZX.  Sprott Capital Partners is acting as financial advisor to the Board and Scotiabank is acting as the financial advisor to the Special Committee of AZX.

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/AlexandriaMinerals
Twitter:      https://twitter.com/azxmineralscorp
YouTube:   http://www.youtube.com/AlexandriaMinerals
Flickr:        http://www.flickr.com/alexandriaminerals/
LinkedIn:   http://www.linkedin.com/company/alexandriaminerals

About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with strategic properties located in the world-class mining districts of Val d’Or, Quebec, Red Lake, Ontario and Snow Lake-Flin Flon, Manitoba. Alexandria’s focus is on its flagship property, the large Cadillac Break Property package in Val d’Or, which hosts important, near-surface, gold resources along the prolific, gold-producing Cadillac Break, all of which have significant growth potential.

WARNING: This News Release may contain forward-looking statements. 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 More Information:

Ian Robertson
Executive Vice President, Communication Strategy
Kingsdale Advisors
Direct: 416-867-2333
Cell: 647-621-2646
Email: irobertson@kingsdaleadvisors.com