Alexandria Minerals Corporation (TSX-V:AZX) (OTC PINK:ALXDF) (FRANKFURT:A9D) is pleased to announce that it has signed a Memorandum of Understanding with the Matachewan First Nation in relation to mineral claims Alexandria holds on its Wydee Property, located northwest of the Young-Davidson Gold Mine in Matachewan, Ontario.
The MOU strengthens the developing relationship between AZX and the Matachewan First Nation, defines procedures by which exploration programs are approved and will take place, promotes mutual respect and understanding, and establishes a protocol for any future discussions and negotiations of an Impact Benefit Agreement.
Eric Owens, President and CEO, said, “We are very pleased with this document and with the discussions leading to it, and we look forward to working with the Matachewan First Nation in a mutually beneficial fashion in the years to come.”
The conditions of the MOU will apply to Alexandria’s JV partners on the Wydee property, Prosper Gold Corporation, who optioned the property from AZX earlier in the year.
Alexandria will issue 50,000 shares as well as 50,000 options to the MFN, the latter to vest in 25% increments, beginning with approval by the TSX, and in three equal parts every six months thereafter.
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, additional gold-copper resources in the world class Snow Lake-Flin Flon mining district of Manitoba, and the notable Red Lake Mining District of northern Ontario.
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