02/05/2017

Discovering Mines of the Future

February 5, 2017

02/05/2017

Discovering Resources: Capitalizing on Company Strengths

• Location: Portfolio of Assets in well-known and prolific Canadian mining districts:

• Val d’Or, Quebec 70+ million ounces of gold produced• Red Lake and Matachewan, Ontario 30+ million ounces of gold produced• Flin-Flon and Snow Lake, Manitoba 180 million tonnes of copper produced

• Focus: Alexandria has completed more than 150,000 meters of drilling on its Val d’Or properties

• Successful Exploration Group• Discovery of Quebec’s next gold mine• Increased resources 4-fold in difficult markets• Lowest Costs of discovery - All-up costs $18 per ounce of gold discovered; West Zone cost just 69

cents/ounce discovered

• Solid Management: Strong relationships with partners, strong shareholder base, committed to success

2Discovering Mines of the Future

02/05/20173

Increase in Asset Value through Discovery and Acquisition: an active company

through difficult times

Discovering Mines of the Future

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

2009 2010 2011 2012 2013 2014 2015 2016

Go

ld +

Go

ld E

qu

ival

en

t (O

un

ces)

Year

Growth in Gold Resources With Time

Measure and Indicated Inferred

West Zone

Sale to AEM

02/05/2017

Recent Highlights: Making Discovery happen through exploration and partnerships

• Cash and Current Assets $7.0 million$5.1 million financing completed with Sprott Wealth in December 2016

• Active Exploration Program on Val d’Or Property• 12,500 meter drill program underway• Currently drilling with two rigs• Focus on Orenada Zone 4, Triangle Too• New Targeting: Geophysics, field geology and prospecting have added targets

• Recent Drill Results:• Intersection and verification of multiple, high-grade, stacked vein sets at Orenada• Recent Assays: 21.32 g/t gold over 3.95 meters at Zone 4, including 42.50 g/t over

1.50 meters• Growth Potential: Stacked, high-grade vein sets at Orenada Zone 4, have been

extended along strike

• Recent Non-Core Property Developments 2016• Probe Metals: we optioned the eastern 1/3 of our Cadillac Break Property Group to

the discoverers of the multimillion ounce Borden Gold deposit near Timmins Ontario• Prosper Gold Corp: we optioned our Matachewan, Ontario, properties to the

discoverers of the multimillion ounce Blackwater gold deposit in British Columbia• Quinto Real Capital Corp: we optioned our Chibougamau area properties to this

experienced junior explorer

4Discovering Mines of the Future

An AZX Discovery:Model of theWest ZoneOpen Pit

02/05/2017

Alexandria’s Properties along the Cadillac Break in Quebec: Discovery within

a World-Class Mining District

5

0 40km

0 25mi

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Cadillac Break Properties, Val d’Or: 3 Advanced Gold Projects In An

Infrastructure-Rich Area, Focus on the Western Property Package

5 Undercapacity Gold Mills

Triangle Too

Recent and Current Activities• Two drill rigs currently drilling a 12,500 meter winter program at Orenada Zone 4 and Triangle Too, expanding on

previous results

• Recently completed 4,200 m drill program at Orenada Zone 2 and Zone 4: verification of stacked, high-grade veins; one drill rig following up

• Recently completed first pass drill program at Triangle Too successfully identified Triangle Zone-like geology buried under glacial overburden; one drill rig now following up

Current Activities

02/05/2017

Current Activities: Growing the Orenada Zone 4 deposit along and across strike

and at depth

• Current drilling at Orenada is aimed at expanding on previous drill results, which verified the existence of multiple stacked, high grade gold-quartz veins within the previously identified bulk tonnage resource, with recent results such as 21.32 g/t over 3.95 meters, 14.72 g/t gold over 2m; 9.48 g/t gold over 1.3 m and 8.01 g/t over 0.9 m.

• This drill program will focus on Zone 4, and will include sampling of portions of historic drill holes portions of which werepreviously unsampled

MAP OF ORENADA ZONE 4 AND ZONE 2

02/05/2017

Recent Results: Cross Section at Orenada Zone 4 Identifying Low-Angle Veins

within the Cadillac Break Shear Zone

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Current Activities: Growth potential of Orenada Zone 4 planned holes and

recent drilling along strike

9

Longitudinal Section at Zone 4

Potential

Growth

Potential

Growth

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Activities at Triangle Too: An early stage exploration program to follow-up on

recent drill results

10

0 500m

Next stage drill program will test deeper on newly discovered diorite plugs hosting gold-quartz veins,as well as drill tests of geophysical and geological targets elsewhere on the property.

New Diorite PlugsWith Gold-Quartz-TourmalineVeins

New Targets Identified fromGeology andGeophysics

02/05/2017

Who We Are: Management

Eric Owens President/CEO, PGeo, PhD, Co-Founder 30 years exploration in western hemisphere with Newmont, BHP, Phelps Dodge, and Echo Bay; El Zapote Silver Deposit, El Salvador and American Girl Gold Mine, California; Brookbank Gold Deposit, Ontario; Cadillac Break Properties, Val d’Or.

Mary Vorvis Vice President, Corporate Development and Investor RelationsOver 15 years in natural resources and technology industries venture capital; strategic relationships with financial institutions, fund managers, brokerages

Philippe Berthelot Vice President Exploration28+ years experience in exploration, with focus in Quebec, responsible for discovery of Langlois Mine and building Desjardin Discovery Deposit, Lac Pelletier Gold deposit, and Grevet

Mario A. Miranda CFO, CA 15+ years mining governance, with Kinross, Lakeshore Gold and White Pine Resources as Director Financial Reporting, VP and CFO

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Discovering Mines of the Future

02/05/2017

Eric Owens, Director, President/CEO

Walter Henry, Chairman of the Board• President and CEO, Frontline Gold Corp• 25+ years experience in finance and mining including CIBC, BNP Paribas and

PriceWaterhouse Coopers

Robert Geis• 35 years experience in NY finance industry, including ManagingTrader of the Dean Witter InterCapital

mutual fund company which had $28 billion in AUM• Consultant to Presidential Gold and Economic Commissions 1981

Peter Gundy• Extensive business and mining experience in finance, governance and operations• Founder of PotashCorp, now a $20 billion company• Founder of Neo Material Technocologies, sold for $1.3 billion

Gary O’Connor• VP Exploration, Dundee Resources Ltd• More than 30 years global experience with Gabriel Resources, Freeport-McMoran,

BP Minerals and Others• Instrumental in the discovery and growth of numerous large gold and base metal

deposits (Rosia Montana, Wabu, Etna Bay, Mamoa)

Priya Patil• 20 years experience as senior executive, investment banker and corporate

lawyer• Toronto Stock Exchange; PI Finanncial Corp; Loewen, Ondaatje,

McCutcheon Limited, GMP, Dundee Securites and BreakwaterResources

Who We Are: Board of Directors

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02/05/2017

Market Facts (as at Feb. 5, 2017)

SYMBOL AZX (TSX-V), ALXDF (U.S.), A9D (Frankfurt)

Shares outstanding: 431,586,190Options: 10,800,000Warrants: 63,258,197

Shares fully diluted 505,644,387Market Cap $30.3 million

52 week high/low $0.12/$0.025

Recent price $0.065-0.080

Cash and Current Assets $7,000,000

Management/Insiders own 6%

Agnico Eagle, 8%; Teck 2%; IAMGOLD, 2%; Sprott,

Gabelli,Gold 2000, US Global, AIS, Dundee;

Other funds and High Net Worth Investors 50%

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02/05/2017

The Upside Potential of Favorable Geology: Comparison of our project area

(bottom map) with a similar sized nearby mining district (top map)

• Porphyry Gold-Copper DepositsAvg. 596 million tonnes @ 0.47 g/t Au0.50% CuAverage: 7.4 million ounces of gold691 billion pounds of copper

World’s Largest: Escondida, 11 trilliontonnes, 89 million oz Au, 6.9 billion lbsCu

• Possible Examples in E. CanadaCanadian Malartic (Gold only): 14million ounces of goldMcIntyre Mine, Timmins: 29 millionounces of goldYoung-Davidson, Matachewan,Ontario: 5 million ounces of gold

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La Ronde-Doyon District versus AZX’s Cadillac Break Properties

Discovering Mines of the Future

La Ronde-Doyon District

W Cadillac Break Properties

02/05/2017

A Value Proposition

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Mid-Canada Mine:70,500 t @ 7.4 g/t Au

0.21% Cu

Ongoing Activities• 12,500 m Wintertime drilling program at Orenada and Triangle

Too • Historic hole sampling program• 1,000 m drill program in Red Lake, ON, to meet provincial

requirements• B.C. conference mid February• PDAC early March

AZX Drill HoleOAX-16-056

Company Strengths• Location: Highly prospective land packages in world class mining

districts• Quadrupled gold resources four-fold during very difficult markets• Lowest costs of discovery: all-up costs $18/ounce• Active exploration program: 41,500 meters of drilling budgeted this

year• Diligent management: strong partners, focused exploration

02/05/2017

Resources Table

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Grade Contained Metal

Deposit Cutoff Tonnes Au (g/t) Cu (%) Ag (g/t) Zn (%) Gold (oz) Copper (lbs) Silver(oz) Zinc (lbs)Oz Gold

Equivalent

Measured Category Measured

Orenada Near Surface 0.5 g/t Au 4,329,383 1.36 188,844 188,844

Indicated Category Indicated

Akasaba Underground 2.25 g/t Au 609,274 5.93 116,158

Akasaba Near Surface 0.5 g/t Au 3,009,214 1.37 132,475

Orenada Near Surface 0.5 g/t Au 6,027,277 1.01 196,097

Hudvam 1.35% CuEq 930,397 3.82 1.22 13.84 1.78 105,000 24,053,000 396,000 35,100,000

WIM 1.3% CuEq 3,898,000 1.57 1.71 6.68 0.27 197,000 147,156,000 837,000 22,730,000

Total Indicated 746,730 171,209,000 1,233,000 57,830,000

Ounces Gold equivalent 746,730 428,023 15,413 48,192 1,238,357

Inferred category Inferred

Akasaba Underground 2.25 g/t Au 1,475,622 5.58 264,886

Akasaba Near Surface 0.5 g/t Au 219,882 1.93 13,653

Orenada Near Surface 0.5 g/t Au 4,708,810 1.16 176,000

Sleepy 2 g/t Au 1,885,500 5.10 307,350

Hudvam 1.35% 612,021 3.25 0.79 6.96 1.33 53,000 10,449,000 129,000 16,961,000

WIM 1.3% CuEq 732,000 1.76 1.03 4.65 0.37 41,000 16,616,000 109,000 5,941,000

Total Inferred 855,889 27,065,000 238,000 22,902,000

Ounces Gold equivalent 855,889 67,663 2,975 19,085 945,612

Resource Estimations: Orenada (Horvath, Geologica, 2009), Akasaba and Sleepy (Geopointcom, Geologica, 2013 and 2014, respectively), WIM and Hudvam (Golder and Associates, 2015)

02/05/2017

Alexandria Minerals Corp.1 Toronto St., Suite 201, P.O. Box 10Toronto, ON M5C2V6416.363.9372www.azx.ca

DISCLAIMER

Some of the statements contained in this presentation are “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties andother factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied bysuch forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as; ability to raise financingfor further exploration and development activities; risks relating to the estimates of reserves, deposits and production costs; extraction and development activities; the risk ofcommodity price fluctuations; political regulatory and environmental risks; and other risks and uncertainties in the reports and disclosure documents filed by Alexandria MineralsCorporation from time-to-time with Canadian securities regulatory authorities. The Company disclaims any intention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events or otherwise. Complete Company reports including management’s discussion and analysis, financial statementsand notes can be found on our Company’s website at www.azx.ca and on SEDAR at www.sedar.com.

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