Alexandria Minerals Corporation (TSXV:AZX) announces a share repurchase program. Under the program, the company will repurchase up to 13,404,967 shares, representing approximately 5% of its issued share capital and approximately 5.05% of its estimated public float. The shares will be repurchased at the prevailing market prices in open market transactions on the TSX-V. The common shares that are purchased under the normal course issuer bid will be cancelled.

The Board believes that the current and recent market price of Alexandria's shares does not give full effect to their underlying value. The purchase of common shares under the bid will increase the proportionate share interest of all remaining shareholders and thus be advantageous to them. The bid is subject to acceptance by the TSX-V and, if accepted, will be made in accordance with the applicable rules and policies of the TSX-V and Canadian securities laws.

The bid will be conducted for up to 12 months following receipt of TSX-V approval. The program will expire on February 10, 2017 or such earlier time as the Issuer Bid is completed or terminated at the option of the Company.