Findings of AmmLeach Flow Sheet at Firestone

2 June 2011

Alexander Mining plc

('Alexander' or the 'Company')

Summary Findings of AmmLeach® Conceptual Flow Sheet Study on Firestone's Torlon Hill Zinc-Lead-Silver Oxide Deposit

Alexander (listed: AXM-AIM and AXD-TSXV) and Firestone Ventures Inc. ('Firestone'; listed: FV-TSXV; F5V-FSE) 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® for processing material from Firestone's Torlon Hill property.

The study demonstrates:

• support of a conceptual flow sheet using the AmmLeach® 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®, especially since no on-site acid plant required.

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

The Study follows the previous positive testwork using AmmLeach® 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® and on which the Study could be conducted. 

Martin Rosser, CEO of Alexander, said:

"The Study supports testwork findings to date that using AmmLeach® 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® on Torlon Hill zinc-lead-silver samples. In addition, the AmmLeach® 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® 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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

ENDS

 For further information please contact: 

Martin Rosser Matt Sutcliffe

Chief Executive Officer Executive Chairman

Mobile: + 44 (0) 7770 865 341 Mobile: +44 (0) 7887 930 758

Alexander Mining plc

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Email: [email protected]

Website: www.alexandermining.com

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