Alexandria Shareholders Approve Business Combination With O3 Mining

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Transaction Set to Close August 1, 2019

July 26, 2019 12:52 PM EDT

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TORONTO, July 26, 2019 (GLOBE NEWSWIRE) -- Alexandria Minerals Corporation (TSX-V: AZX) (OTCQB: ALXDF) (Frankfurt: A9D) (the “Company” or “Alexandria”) is pleased to confirm that shareholders of Alexandria (the “Alexandria Shareholders”) approved, at the special meeting of Alexandria Shareholders held earlier today, the business combination with O3 Mining Inc. (“O3 Mining”), as more particularly described in the Company’s June 27, 2019 and June 28, 2019 press releases (the “Arrangement”).

At the special meeting of Alexandria Shareholders held earlier today, 259,219,643 common shares of Alexandria ("Alexandria Shares") were voted, representing approximately 50.15% of the issued and outstanding Alexandria Shares, with 184,813,645 Alexandria Shares (72.132%) voting in favour of the Arrangement and 71,400,707 Alexandria Shares (27.868%) voting against the Arrangement. The vote was conducted by way of a ballot.

Following the successful result of today's vote, Alexandria will seek an order from the Superior Court of Justice (Commercial List) granting final approval of the Arrangement on Wednesday, July 31, 2019. Assuming the receipt of such final order, and the satisfaction or waiver of the other closing conditions, the Company anticipates that the Arrangement will close on or about Thursday, August 1, 2019.

As a reminder, assuming completion of the Arrangement, Alexandria Shareholders will be entitled to receive 0.018041 common shares in the capital of O3 Mining in exchange for each Alexandria Share held immediately prior to the effective time of the Arrangement.

The Arrangement remains subject to the approval of the TSX Venture Exchange.

Further information about the Company is also 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/LinkedIn: http://www.linkedin.com/company/alexandriaminerals

About Alexandria Minerals CorporationAlexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with its strategic property located in the world-class mining district of Val d’Or, Quebec. Alexandria’s focus is on its flagship property, the large Cadillac Break Property package in Val d’Or, which hosts important, near-surface, gold resources along the prolific, gold-producing Cadillac Break, all of which have significant growth potential.

WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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.

PLEASE CONTACTwww.azx.ca

Walter HenryActing President & CEO(416) 414-5825[email protected]