Alexandria Minerals Corporation has executed and closed a definitive asset purchase agreement and a 2% Net Smelter Return Royalty Agreement with Agnico Eagle Mines Limited, on January 13, 2014. Pursuant to the terms of the Asset Purchase Agreement, Alexandria has sold to Agnico the mineral rights to the West Zone Au-Cu Property comprising 14 mining claims located in Bourlamaque and Louvicourt Townships, Quebec, for $5,000,000 cash. Alexandria also retains a 2% NSR on the claims, which starts after 210,000 ounces of gold have been produced from the claims. The West Zone is a recent discovery that contains an Inferred Resource estimate as follows (National Instrument 43-101 compliant): 14,863,740 tonnes grading 0.69 g/t Au and 0.41% Cu, for 332,074 ounces of gold and 61,255,885 kilograms of copper.

In addition to the lump sum payment of $5,000,000, the following terms also apply to the sale: Alexandria has been granted a 2% NSR on any metal production after 210,000 ounces of gold have been produced; Agnico retains the right to purchase one-half of the royalty, or 1%, by paying the sum of $7,000,000 to Alexandria, and retains the right of first refusal for the remaining 1% NSR; Agnico is responsible for the underlying (pre-existing) royalties on the claims; and Alexandria retains the right of first offer to re-acquire the claims following mining and reclamation for the sum of $1.