Special Committee of the Board of Alexandria Minerals Responds to Notice from Concerned Shareholders of Alexandria Minerals

TORONTO, Feb. 09, 2018 (GLOBE NEWSWIRE) -- Alexandria Minerals Corporation (TSX-V:AZX) (OTCQB:ALXDF) (Frankfurt:A9D) (“AZX” or the “Company”) announced today that the Special Committee of the Board of AZX  (the "Special Committee") has learned of the Notice of Intention from the so-called "Concerned Shareholders" of AZX to call a meeting to replace certain directors of AZX.  The Special Committee, which began its work on December 19, 2017 (see: https://globenewswire.com/news-release/2017/12/20/1267313/0/en/Alexandria-Minerals-forms-Special-Committee-of-the-Board-to-Assess-Strategic-Alternatives.html), with authority from the Board of Directors, is engaged in a thorough and transparent process with the benefit of independent advice from legal and financial advisors. The assertions of the Concerned Shareholders are puzzling, especially on the part of Eric Owens, the CEO of AZX, where they are so apparently self-serving, and in light of a scheduled meeting of the Board of Directors early next week to receive further reports and recommendations from the Special Committee and its advisors.  The Special Committee fully intends to continue with its efforts and make timely disclosure, when appropriate.

Walter Henry, Chairman of the Special Committee, reiterated that “The Special Committee remains committed to discharging its duties in the interests of AZX’s stakeholders notwithstanding efforts to sidetrack us.  We are gratified by the significant interest people have expressed in AZX and our assets, and the support of our stakeholders to date.”  

There is no defined timeline for the strategic review.  The review of strategic alternatives may result in a variety of outcomes or no outcome and there can be no assurance that the Company will pursue or execute any specific action or transaction. The Company does not intend to make any further announcements or comments regarding the review of strategic alternatives unless required by law.

Further information about the Company is also 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. 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.