Alexandria Minerals Corporation (TSX-V:AZX) (FRANKFURT:A9D) (OTC PINK:ALXDF) is pleased to announce the closing of the first tranche of the $4,000,000 million financing the “Private Placement” originally announced on May 30, 2016.

The first tranche consists of 10,898,500 Quebec flow-through units at a price of $0.07 per unit, for $762,895; 9,133,000 national flow-through units at a price of $0.06 per unit, for $547,980; and 11,388,483 non-flow-through units  at a price of $0.06 per unit, for $683,309.

Each Quebec FT Unit will be comprised of one flow-through common share and one-half of one common share purchase warrant. Each National FT Unit will be comprised of one flow-through common share and one-half of one Warrant. Each Unit will be comprised of one non-flow-through common share and one-half of one Warrant. Each whole Warrant will entitle the holder, on exercise, to acquire one common share at an exercise price of $0.10 for a period of three years. All securities issued under the Private Placement will be subject to a four-month hold period in accordance with applicable securities laws.

In addition, finder’s fees shall be paid to Medalist Capital Ltd. in the amount of up to 6% of the gross proceeds of the Private Placement and 6% finder’s warrants, with each such warrant exercisable to acquire one common share at a price of $0.06 for 3 years. The Private Placement remains subject to the approval of the TSX Venture Exchange.

Closing of a second tranche of the Private Placement is expected to be completed in the coming days.

The proceeds from these transactions will be used for exploration and general corporate purposes.

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, Quebec, 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.