AXD Alexander Mining

Alexander ('Alexander' or the 'Company') (TSX VENTURE:AXD)(AIM:AXM) and
Firestone Ventures Inc. ('Firestone') (TSX VENTURE:FV)(FRANKFURT:F5V) are
pleased to announce the summary findings of a study ('Study') by consultant
David Lunt of Stirling Process Engineering ('Stirling') investigating the use of
AmmLeach(R) for processing material from Firestone's Torlon Hill property. 


The study demonstrates:



--  support of a conceptual flow sheet using the AmmLeach(R) process in a
    heap leaching, solvent extraction and steam stripping process to produce
    a zinc oxide product; 
    
--  the adoption of heap leaching would eliminate the need for milling,
    agitation leaching equipment and solid-liquid separation; and 
    
--  significant cost savings are possible using AmmLeach(R), especially
    since no on-site acid plant required.  



Subject to Firestone deciding to advance investigating the use of AmmLeach(R) at
Torlon Hill, additional metallurgical testwork is warranted.


The Study follows the previous positive testwork using AmmLeach(R) at
Firestone's Torlon Hill deposit, as announced on 13 April and 4 March 2011.
Firestone had requested Alexander submit a conceptual process flow sheet to use
AmmLeach(R) and on which the Study could be conducted. 


Martin Rosser, CEO of Alexander, said:

"The Study supports testwork findings to date that using AmmLeach(R) may be a
viable process to treat Firestone's Torlon Hill deposit using a simple heap
leaching method. We look forward to discussing the next steps with Firestone."


Lori Walton, President and CEO of Firestone, said:

"We are reviewing this Study, which builds on previous testwork showing
promising results from amenability testwork using AmmLeach(R) on Torlon Hill
zinc-lead-silver samples. In addition, the AmmLeach(R) process shows positive
leaching recoveries on both smithsonite and hemimorphite - the two primary
zinc-bearing minerals present at our projects in Guatemala and Nevada." 


Further information on the Study 

The Study summarises a relatively simple conceptual operation using heap
leaching, solvent extraction and steam stripping to produce a zinc oxide
product. The adoption of heap leaching would eliminate the need for milling,
agitation leaching equipment and solid-liquid separation. The use of AmmLeach(R)
should have an intrinsically lower cost structure than acid leaching in
situations where the acid consumption of the ore is high. Savings should be
realised in respect of both capital and operating costs. The capital cost saving
would be significant since no on-site acid plant is required.


Firestone will examine the Study in conjunction with additional information on
metallurgical testing to decide, in discussion with Alexander, on the next
steps. These may include further bench-scale work, heap leach column testing and
a demonstration scale pilot plant.


Forward Looking Statements 

This news release may contain forward looking statements, being statements which
are not historical facts, including, without limitation, statements regarding
potential mineralization, exploration results, resource or reserve estimates,
anticipated production or results, sales, revenues, costs, "best-efforts"
financings or discussions of future plans and objectives. There can be no
assurance that such statements will prove accurate. Such statements are
necessarily based upon a number of estimates and assumptions that are subject to
numerous risks and uncertainties that could cause actual results and future
events to differ materially from those anticipated or projected. Important
factors that could cause actual results to differ materially from the Company's
expectations are in Company documents filed from time to time with the TSX
Venture Exchange and provincial securities regulators, most of which are
available at www.sedar.com. The Company disclaims any intention or obligation to
revise or update such statements unless required by law.

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