Positive Preliminary Testwork on Firestone Samples

Alexander Mining plc

('Alexander' or the 'Company')

Positive Preliminary AmmLeach® Amenability Testwork on Samples from Firestone's Zinc-Lead Properties in Nevada

Alexander (listed: AXM-AIM and AXD-TSXV) and Firestone Ventures Inc. ('Firestone'; listed: FV-TSXV; F5V-FSE) are pleased to announce that preliminary stage amenability tests using the AmmLeach® process on two grab samples, with grades of 15.3% and 16.3% zinc, from Firestone's Black Mountain and Antelope zinc properties in Nevada, produced high leaching recoveries.

This follows positive results from the metallurgical testwork using AmmLeach® at Firestone's Torlon Hill deposit (as announced on March 4, 2011).

Martin Rosser, CEO of Alexander, said:

"These positive results certainly warrant further work on representative samples from Black Mountain and Antelope and we look forward to discussing the likely next steps with Firestone."

Lori Walton, President and CEO of Firestone, said:

"We are very encouraged by these early stage characterisation tests, which show excellent leaching recoveries. What is interesting is that the AmmLeach® process appears to work on both smithsonite and hemimorphite - carbonate and silicate zinc minerals respectively. These are the two primary zinc-bearing minerals present at both our Black Mountain and Antelope zinc exploration project areas."

The aim of the testwork was to test the amenability of two hand-picked grab samples from Firestone's Black Mountain property and Antelope property to the AmmLeach® process. No attempt was made to collect a representative sample or to optimise leach recoveries. It is stressed that the tests were very preliminary characterisation tests on grab samples of high-grade material and further testing will be required upon completion of drilling programmes.

Firestone has a 1,245m drill programme planned to begin in May at its road-accessible Black Mountain zinc-lead-silver property located 29km northeast of Wells, Nevada, U.S.A. Firestone has an option to earn 100% interest in the Black Mountain project from Kinross Gold (as announced on March 24, 2011 and November 29, 2010). Zinc mineralization at Black Mountain consisting of hemimorphite and smithsonite is structurally controlled and hosted in Devonian carbonate rocks. In addition, the permitting process is underway for a late 2011 drilling programme at Firestone's Antelope zinc-lead-silver property, southwest of Eureka, Nevada.

The AmmLeach® process, developed by MetaLeach Limited (a wholly owned subsidiary of Alexander Mining plc), uses a proprietary ammonia based process for leaching high acid consuming ores that are very costly or not economic to treat using acid leaching technology.

Recently, Firestone announced positive test results using AmmLeach® on selected representative samples from the Torlon Hill zinc-lead-silver deposit in Guatemala, Central America. As a result, Firestone has requested Alexander submit a conceptual process flow sheet as a potential pre-cursor to a feasibility study for Torlon Hill and a plan for substantial additional next stage testwork. An announcement on the findings of this report is imminent.

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

1st Floor

35 Piccadilly

London

W1J 0DW

Tel: +44 (0) 20 7292 1300

Fax: +44 (0) 20 7292 1313

Email: [email protected]

Website: www.alexandermining.com

Nominated Advisor and Broker

Ambrian Partners Limited

Samantha Harrison / Jen Boorer

+44 (0) 20 7634 4700

Public/Media Relations

Britton Financial PR

Tim Blackstone

+44 (0) 20 7242 9786