ONTARIO – Alexandria Minerals Corp
. has signed a memorandum of Understanding with the Matachewan First Nation
("MFN") in relation to mineral claims Alexandria holds on its Wydee property, located northwest of the Young-Davidson gold mine in Matachewan.
The MOU strengthens the developing relationship between Alexandria and the Matachewan First Nation, defines procedures by which exploration programs are approved and will take place, promotes mutual respect and understanding, and establishes a protocol for any future discussions and negotiations of an Impact Benefit Agreement.
The conditions of the MOU will apply to Alexandria's JV partners on the Wydee property, Prosper Gold Corp
., which optioned the property earlier in the year.
Alexandria will issue 50,000 shares as well as 50,000 options to the MFN, the latter to vest in 25% increments, beginning with approval by the TSX, and in three equal parts every six months thereafter.
More information about Alexandria’s properties at Matachewan is available at www.AZX.ca.