Alexandria Minerals Announces Appointment of Interim CEO And Stock Option Grants

TORONTO, July 31, 2018 (GLOBE NEWSWIRE) -- Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D) ("AZX" or the "Company") announces the appointment of current Director Walter Henry as the Company's Interim Chief Executive Officer effective July 30, 2018.

Peter Gundy, Chairman of the Board stated: "As we continue to move forward, Walter Henry, previously the Chair of the Special Committee is fully committed to executing our Board of Directors' plan as it relates to the new corporate direction which includes non-dilutive financings, a refocus on our core assets, and a new management team."

Mr. Henry brings more than 25 years of capital markets and leadership experience having served as CEO of 4 publicly traded junior companies while also serving as VP, Finance and CFO with several public companies listed on the TSX and TSX Venture Exchange, including Tiberon Minerals Ltd., Royal Nickel Corp., Juno Special Situations Corp., and Alturas Minerals Corp.

Mr. Henry maintains the ICD.D designation having completed the Institute of Corporate Director's Director Education Program in May 2010. Mr. Henry has had the roles of Chairman and Director for 12 publicly traded junior companies. Mr. Henry is a Chartered Financial Analyst (CFA) and brings a wide range of expertise to the Company's executive management team given his extensive finance background encompassing Capital Markets, Investment Banking, International Projects and Financial Reporting.

Upon assuming the role of Interim Chief Executive Officer, Mr. Henry will no longer be an independent director of the Company. The Company's independent Directors will remain Mr. Peter Gundy, Ms. Priya Patil, Mr. Gary O'Connor, and Mr. Mark Ashcroft.

The Company also announces that it has granted a total 7,500,000 stock options under its stock option plan to all the Directors on the Board of Company. All of the options are exercisable at a price of $0.05 per share and have a term of 5 years.  The options vest 1/3 on granting; 1/3 on the first anniversary of the grant date and 1/3 on the second anniversary of the grant date. Following the grant of these options, a total of 23,560,000 options are outstanding under the Company's stock option plan and 24,296,000 options remain available for issuance.

Further information about the Company is available on the Company's website, www.azx.ca, 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 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:

PLEASE CONTACT

Walter Henry
Chair, Special Committee
(416) 414-5825
www.azx.ca 
[email protected]