March 2017

LOCATION Portfolio of Assets in well-known and prolific Canadian mining districtsVal d’Or, Québec 70+ million ounces of gold producedRed Lake and Matachewan, Ontario 30+ million ounces of gold producedFlin-Flon and Snow Lake, Manitoba 180 million tonnes of copper produced

FOCUS Alexandria has completed more than 150,000 metres of drilling on its Val d’Or properties

SUCCESSFUL EXPLORATION GROUP • Discovery of Québec’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

Discovering Resources Capitalizing on Company Strengths

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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

Gol

d +

Gol

d Eq

uiva

lent

(Oun

ces)

Year

GROWTH IN GOLD RESOURCES WITH TIME

Measure and Indicated Inferred

Resource Growth through Drilling

West ZoneSale to AEM

Resource GrowthThrough

Acquisition

Increase in Asset Value through Discovery and Acquisition An Active Company through Difficult Times

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CASH AND CURRENT ASSETS $7.5 MILLION• $5.1 million financing completed with Sprott Wealth in December 2016

ACTIVE EXPLORATION PROGRAM ON VAL D’OR PROPERTY• 12,500 metre 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 metres at Zone 4, including

42.50 g/t over 1.50 metres• 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

An AZX Discovery:

Model of theWest ZoneOpen Pit

Recent Highlights Making Discovery Happen through Exploration and Partnerships

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Alexandria’s Properties Along the Cadillac Break in Québec:Discovery within a World-Class Mining District

0

0 25 mi

40 km

Québec’s Cadillac Break70 million ounces mined since 1920’s

25 million new ounces discovered since 2003

An AZX Discovery:

Model of theWest ZoneOpen Pit

5 Undercapacity Gold Mills

TriangleToo

CurrentActivities

Cadillac Break Properties, Val d’Or 3 Advanced Gold Projects in an Infrastructure-Rich Area, Focus on the Western Property Package

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RECENT AND CURRENT ACTIVITIES• Two drill rigs currently drilling a 12,500 metre winter program at Orenada Zone 4 and

Triangle Too, expanding on previous results

• Recently completed 4,200 metre 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 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 m, 14.72 g/t gold over 2 m; 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 were previously unsampled.

ORENADA ZONE 4 AND ZONE 2

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Current Activities Growing the Orenada Zone 4 Deposit Along and Across Strike and at Depth

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Recent Results Cross Section at Orenada Zone 4 Identifying Low-Angle Veins within the Cadillac Break Shear Zone

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LONGITUDINAL SECTION AT ZONE 4

Untested Area

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Current Activities Growth Potential of Orenada Zone 4 Planned Holes and Recent Drilling Along Strike

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Untested Area

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Activities at Triangle Too An Early Stage Exploration Program To Follow-up on Recent Drill Results

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New Targets Identified fromGeology andGeophysics

0 500 m

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 Plugs with Gold-Quartz-Tourmaline Veins

Integra

ALEXANDRIA

Who We Are Management

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ERIC OWENS President & CEO, PGeo, PhD, Co-Founder Over 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 20 years in natural resources and technology industries venture capital; strategic relationships with financial institutions, fund managers, brokerages.

PHILIPPE BERTHELOT Vice President ExplorationOver 30 years experience in exploration, with focus in Québec, responsible for discovery of Langlois Mine and building Desjardin Discovery Deposit, Lac Pelletier Gold deposit, and Grevet.

MARIO A. MIRANDA CFO, CA Over 15 years mining governance, with Kinross, Lakeshore Gold and White Pine Resources as Director Financial Reporting, VP and CFO.

Discovering Mines of the Future

Who We Are Board of Directors

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ERIC OWENS Director, President & CEO

WALTER HENRY Chairman of the BoardPresident and CEO, Frontline Gold Corp25+ years experience in finance and mining including CIBC, BNP Paribas and PriceWaterhouse Coopers

ROBERT GEIS Director35 years experience in NY finance industry, including Managing Trader of the Dean Witter InterCapitalmutual fund company which had $28 billion in AUMConsultant to Presidential Gold and Economic Commissions 1981

PETER GUNDY DirectorExtensive business and mining experience in finance, governance and operationsFounder of PotashCorp, now a $20 billion companyFounder of Neo Material Technocologies, sold for $1.3 billion

GARY O’CONNOR DirectorVP Exploration, Dundee Resources LtdMore than 30 years global experience with Gabriel Resources, Freeport-McMoran, BP Minerals and OthersInstrumental in the discovery and growth of numerous large gold and base metal deposits (Rosia Montana, Wabu, Etna Bay, Mamoa)

PRIYA PATIL Director20 years experience as senior executive, investment banker and corporate lawyerToronto Stock Exchange; PI Financial Corp; Loewen, Ondaatje, McCutcheon Limited, GMP, Dundee Securites and Breakwater Resources

Discovering Mines of the Futurewww.azx.ca |

Market Facts (as at March 1, 2017)

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Shares outstanding 431,586,190

Options 10,800,000

Warrants 63,258,197

Shares fully diluted 505,644,387

Market Cap $30.3 million

52 week high/low $0.12/$0.025

Recent price $0.065-0.080

Cash and Current Assets $7,500,000

SYMBOL TSXV: AZX | Frankfurt: A9D | US: ALXDF

Management/Insiders own 6%; Sprott, 8.5%; Agnico Eagle, 8%; Teck 2%; IAMGOLD, 2%; Gabelli, 2%; Gold 2000, US Global, AIS, Dundee;Other funds and Accredited Investors 30%

PORPHYRY GOLD-COPPER DEPOSITSLA RONDE-DOYON DISTRICT VERSUS AZX’S CADILLAC BREAK PROPERTIES

La Ronde-Doyon District

W Cadillac Break Properties

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The Upside Potential of Favorable Geology: Comparison of our projectarea (bottom map) with a similar sized nearby mining district (top map)

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POSSIBLE EXAMPLES IN E. CANADA

Avg. 596 million tonnes @ 0.47 g/t Au 0.50% Cu

Average7.4 million ounces of gold 691 billion pounds of copperWorld’s LargestEscondida, 11 trillion tonnes, 89 million oz Au, 6.9 billion lbs Cu

Canadian Malartic (Gold only), Québec14 million ounces of gold

McIntyre Mine, Timmins, Ontario29 million ounces of gold

Young-Davidson, Matachewan, Ontario5 million ounces of gold

Mid-Canada Mine70,500 t @ 7.4 g/t Au

0.21% Cu

AZX Drill HoleOAX-16-056

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A Value Proposition

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COMPANY STRENGTHS

Solid Experienced Management TeamStrong partners, focused exploration

Quadrupled Gold Resources During very difficult markets

LocationHighly prospective land packages in world class mining districts

Lowest Costs of DiscoveryAll-up costs $18/ounce

Aggressive Exploration Program41,500 metres of drilling budgeted this year

Proven Partners with Additional $17 M of Exploration and Development to be spent on the optioned Alexandria Properties

ONGOING ACTIVITIES

12,500 m Wintertime Drilling Program at Orenada Zone 4 and Triangle Too

1,000 m Drill Program in Red Lake, ON to meet provincial requirements

Application Listing in USA on OTC-QB Board

PDAC early March

Listing for USA DTC Advisory April Conference Scottsdale, AZ

Historic Hole Sampling Program Numerous Planned Roadshows

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

MEASUREDOrenada Near Surface 0.5 g/t Au 4,329,383 1.36 – – – 188,844 – – – 188,844INDICATED 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 35,100,000WIM 1.3% CuEq 3,898,000 1.57 1.71 6.68 0.27 197,000 147,156,000 837,000 22,730,000Total Indicated – – – – – – 746,730 171,209,000 1,233,000 57,830,000 –Ounces Gold Equivalent – – – – – – 746,730 428,023 15,413 48,192 1,238,357INFERREDAkasaba 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 16,961,000WIM 1.3% CuEq 732,000 1.76 1.03 4.65 0.37 41,000 16,616,000 109,000 5,941,000Total 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)

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Resources Table

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1 Toronto StreetSuite 201, P.O. Box 10Toronto, ON M5C 2V6416.363.9372www.azx.ca

DISCLAIMERSome of the statements contained i n this presentation are “forward-looking statements”. Such forward-looking statem ents i nvolve known and unknown risks, uncertainties andother fac tors that may cause our ac tual results, performance or achi evements to differ materially from the anticipated results, performance or achievements expressed or implied bysuch forward-looki ng statements. Factors that coul d cause actual results to differ materially from anticipated results include risks and uncertainties such as; ability to raise financingfor further expl oration and developm ent ac tivities; risks relating to the estimates of reserves , deposits and producti on costs ; extraction and development ac tivities; the risk ofcommodity price fluc tuations; political regulatory and environmental risks; and other risks and uncertainties i n the reports and disclosure documents filed by Alexandria MineralsCorporati on 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 i ncludi ng management’s discussion and analysis, fi nancial 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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