Alexandria Minerals Confirms that Previous Agnico Eagle Mines Offer has Expired; The Alexandria Board, ISS and Glass Lewis Support the O3 Mining Offer

TORONTO, July 15, 2019 (GLOBE NEWSWIRE) -- Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D) (“AZX”, the “Company” or “Alexandria”) today clarified the status of the previous offer from Agnico Eagle Mines Limited (“Agnico Eagle”) and support for the O3 Mining Offer (as defined below).

The Company confirms that the binding acquisition proposal that the Company received from Agnico Eagle that was announced by the Company in its June 13, 2019 press release (the “Agnico Eagle Offer”) has expired on its terms without being accepted. In addition, Agnico Eagle has now formally withdrawn the Agnico Eagle Offer for acceptance by the Company.

As a result of the foregoing, the only acquisition proposal that is currently available to the Company and its shareholders (the “Alexandria Shareholders”) to accept is the offer from O3 Mining Inc. (“O3 Mining”) described in the Company’s June 27, 2019 and June 28, 2019 press releases (the “O3 Mining Offer”). If the O3 Mining Offer is completed in accordance with its terms (the “Arrangement”), Alexandria Shareholders would receive 0.018041 common shares in the capital of O3 Mining per common share of the Company.

As described in the Company’s June 27, 2019 and June 28, 2019 press releases, the board of directors of the Company unanimously recommends that the Alexandria Shareholders vote FOR the resolution to approve the Arrangement at the Alexandria Shareholders meeting now rescheduled to Friday, July 26, 2019 at 10:00 a.m. at the offices of Aird & Berlis LLP, Suite 1800, Brookfield Place, Toronto, Ontario (the “Alexandria Shareholders Meeting”).

In addition, the Company is pleased to announce that each of Institutional Shareholder Services and Glass, Lewis & Co. have recommended that Alexandria Shareholders vote FOR the resolution to approve the Arrangement at the Alexandria Shareholders Meeting.

Alexandria would like to thank those shareholders who have already voted and advise that no further action is required if there is no change to your vote. If a registered Alexandria Shareholder has not already submitted a proxy or wishes to change a vote, such shareholder should complete and sign the duplicate proxy and return it to TSX Trust Company, Proxy Department, Suite 301, 100 Adelaide Street West, Toronto, Ontario, M5H 4H1 (by mail, facsimile or internet according to the instructions on the proxy), not less than 48 hours (excluding Saturdays, Sundays and holidays) before the time for holding the Alexandria Meeting, otherwise the shareholder will not be entitled to vote at the Alexandria Meeting by proxy. If you are a beneficial Alexandria Shareholder (i.e. you hold your shares through a bank broker or other intermediary), and have not already voted or wish to change your vote, you may revote/vote in accordance with the instructions outlined on the voting information form (VIF) initially mailed to you. Only registered Alexandria Shareholders have the right to revoke a proxy. If you are a beneficial Alexandria Shareholder and wish to revoke your vote, you must arrange for your Intermediary to revoke on your behalf not less than not less than 48 hours (excluding Saturdays, Sundays and holidays) before the time for holding the Alexandria Meeting.

If you have any questions or need assistance in voting your Alexandria Shares, please refer to the Company’s management information circular dated as of May 27, 2019 available on the Company’s SEDAR profile on www.sedar.com and/or contact Alexandria’s proxy agent, Shorecrest Group, at:

North American Toll-Free 1-888-637-5789

Collect: 1-647-931-7454

Email: contact@shorecrestgroup.com

For further details with respect to the material terms of the agreement associated with the Arrangement, as amended (the “Arrangement Agreement”), please refer to the joint press release of Alexandria and a predecessor entity to O3 Mining dated May 14, 2019, the Company’s June 27, 2019 and June 28, 2019 press releases, the Arrangement Agreement, all of which is available on the Company’s SEDAR profile on www.sedar.com.

Further information about the Company is also 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 its strategic property located in the world-class mining district of Val d’Or, Quebec.  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 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.