Toronto, Ontario--(Newsfile Corp. - April 13, 2017) - Alexandria Minerals Corporation (TSXV: AZX) (OTCQB: ALXDF) (FSE: A9D)
("AZX" or the "Company") is pleased to announce that it has completed its previously announced non-brokered equity private
placement (the "Financing") in the Company for gross proceeds of $2,575,000. The Company is also delighted to announce that Eric
Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, made a $2 million strategic investment as
part of the Financing.
Pursuant to the terms of the Financing, the Company issued 42,916,666 units ("Units") at a price of $0.06 per Unit for aggregate
gross proceeds of $2,575,000. Each Unit consisted of one common share of the Company ("Common Share") and one common share purchase
warrant ("Warrant"). Each Warrant entitles the holder, on exercise, to acquire one common share at an exercise price of $0.09 for a
period of 24 months following the closing of the Financing. All securities issued under the Financing are subject to a four-month
hold period in accordance with applicable securities laws. The Financing remains subject to the approval of the TSX Venture
Exchange.
The proceeds from this transaction will be used for exploration on the Company's flagship Orenada Zone 4 gold project in Val
d'Or, Québec, as well as for general corporate purposes. As indicated in its press release of April 4, 2017, recent high grade gold
assays at Orenada Zone 4 have been very encouraging; consequently, the Company has been ramping up its drilling activity there.
In addition, the Company confirms that finder's fees ("Finder's Fees") were paid to Sprott Private Wealth LP ("Sprott Capital")
in connection with the Financing. The Finder's Fees consisted of an amount equal to 6% of the gross proceeds of the Financing
raised by Sprott Capital and the issuance to Sprott Capital of 2,500,000 of warrants ("Finder's Warrants"). Each Finder's Warrant
is exercisable to acquire one common share at a price of $0.06 for 24 months following the closing of the Financing.
Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 33,333,333 Units pursuant
to the Financing for total consideration of $1,999,999.80. As a result of the Financing, Mr. Sprott is the beneficial owner of
33,333,333 Common Shares and 33,333,333 Warrants representing approximately 7.0% of the issued and outstanding common shares of the
Company on a non-diluted basis and 13.0% on a partially diluted basis. The above percentages are calculated based on 478,202,856
Common Shares issued and outstanding after giving effect to the Financing. Prior to the Financing, Mr. Sprott did not directly or
indirectly own any securities of the Company.
The Units were acquired by Mr. Sprott, through 2176423 Ontario Ltd. for investment purposes. Mr. Sprott has a long-term view of
the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or
sell securities of the Company either on the open market or through private dispositions in the future depending on market
conditions, reformulation of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.'s early warning report will appear
on the Company's profile on SEDAR and may also be obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza,
South Tower, Toronto, Ontario M5J 2J2).
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the
account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration is available.
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/
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with important gold
resources on one of the largest properties along the prolific, gold-producing Cadillac Break in Val d'Or, Québec, and
now with a significant presence in the Snow Lake-Flin Flon gold-base metal mining district of Manitoba. The Company's properties
are located in mining districts hosting large, world-class mineral deposits and important mining infrastructure.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing
of completion of the Financing, the use of proceeds of the Financing and receipt of regulatory approval
of the Financing. 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.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
PLEASE CONTACT
www.azx.ca
info@azx.ca
Mary Vorvis, Vice President,
Corporate Development and Investor Relations
(416) 305-4999
Eric Owens, President/CEO
416-363-9372
