Matachewan Property
-Project Summary

49 claims, Matachewan, Ontario

The Matachewan property straddles the Cadillac-Larder Lake Break and is situated about 3 km east of the historic Matachewan Consolidated and Young-Davidson Mines, which together produced about one million ounces of gold, and about 40 km southwest of the Kirkland Lake gold camp.

The Matachewan gold camp is under-explored relative to the prolific Kirkland Lake camp, but is being actively explored by several companies with remarkable success. Northgate Minerals has reported total measured and indicated resources of 1.06 million ounces of gold at its Young-Davidson Mine, with another 1.07 million ounces in the inferred category. Northgate is conducting a US$28-million work program aimed at advancing the project to pre-feasibility by the third quarter of 2007.

Alexandria’s Matachewan property contains many of the same geological characteristics found at Young-Davidson and also at gold mines in the nearby Kirkland Lake camp. These include the presence of Archean syenites, metavolcanic rocks and metasedimentary rocks, widespread quartz-carbonate-pyrite alteration, local green mica and green carbonate alteration, and extensive faults and shear zones.

Alexandria recently signed an option agreement with Carmax Explorations Ltd. to earn 50% of nine claims through staged payments, share issuance and work commitments. This agreement expanded the Company’s holdings in the region to 49 claims covering about 10 km of the Cadillac-Larder Lake Break. Previous exploration results (based on an internal report by Carmax Explorations) include: 1.72 g/t gold over 1.5 metres in a diamond drill hole; and trenching results of 5.9 g/t gold over 2 metres and 2.5 g/t gold over 2 metres in iron formation and silicified basalt.

Alexandria has completed a five-hole drill program to test a combined magnetic and Induced Polarization anomaly. All holes intersected strongly sheared volcanic rocks and wide zones of altered syenite,  containing quartz veining combined with carbonate-fuchsite-pyrite alteration and local strongly anomalous gold values. A follow-up geochemical study suggests the property also has potential for volcanogenic massive sulphides. The Company is encouraged by exploration results to date. Details of recent work programs can be found in the Company’s 43-101 technical reports filed on www.sedar.com.