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 that AmmLeach(R) amenability test work conducted by
Alexander's wholly owned subsidiary, MetaLeach Limited ('MetaLeach'), for
Firestone on its Torlon Hill zinc oxide project ('Torlon Hill') in Guatemala
produced highly favourable results. 


For eleven selected representative zinc oxide ore samples, where the head grade
assays were greater than or equal to 6.99% zinc, the average zinc dissolution
using AmmLeach(R) was 79% and hence potentially high recoveries of greater than
75% should be achievable. It is anticipated that recoveries can further be
improved by optimisation of the leaching conditions. 


As a result, Firestone has requested Alexander submit a conceptual process flow
sheet for Torlon Hill and a plan for substantial additional next stage testwork.
The conceptual flow sheet will be for a heap leach solvent-extraction
electro-winning ('SX-EW') treatment plant using AmmLeach(R). The conceptual flow
sheet could be the precursor to a decision by Firestone to commit to a full
feasibility study for Torlon Hill using AmmLeach(R). Commercial terms would be
agreed between Firestone, Alexander and MetaLeach at that time. 


Additionally, Alexander and Firestone have agreed to work together
collaboratively to identify and target other high acid-consuming,
carbonate-hosted zinc oxide opportunities in Firestone's portfolio which may be
suitable for using AmmLeach(R). 


Martin Rosser, CEO of Alexander, said:

"We are delighted to be working with Firestone on investigating the use of
AmmLeach(R) at its Torlon Hill zinc oxide project. Firestone has been advancing
assiduously its zinc exploration activities in Guatemala and has built up an
extensive zinc oxide property portfolio. This step is a significant one in
Alexander's aim of demonstrating the commercial use of AmmLeach(R) for
processing high grade zinc oxide deposits." 


Lori Walton, President and CEO of Firestone, said:

"We are very pleased with the initial results using the AmmLeach(R) process
showing that potential recoveries of over 75% zinc could be achievable. Further
work is warranted and we plan to work together with Alexander Mining on
developing a conceptual flow sheet that will provide valuable information for a
future feasibility study." 


Firestone Ventures Inc. is advancing its road-accessible Torlon Hill
zinc-lead-silver project in Guatemala, Central America. The combined Measured
and Indicated Resource totals 1,891,636 tonnes grading 7.32% zinc, 2.41% lead
and 14.25 g/t silver (at a 3% zinc-equivalent cut-off). An additional 169,705
tonnes is classified as inferred resources grading 4.42% zinc, 1.96% lead and
12.53 g/t silver (see news release Nov. 18, 2008). In addition, there is a basal
zone of unoxidized sulphide mineralisation which is not yet well defined by the
drilling to date. The deposit is open to expansion and high-grade zinc oxide
mineralisation defined to date is on or near surface. Smithsonite (ZnCO3) is the
prevalent zinc mineral at Torlon Hill, occurring as a replacement to limestone,
and resulting in high grade mineralisation locally exceeding 40% zinc. Other
non-sulphide zinc minerals are relatively rare and there is no evidence of
deleterious zinc-clay minerals such as sauconite. Firestone has been dedicated
to developing and maintaining supportive community and government relationships
at Torlon Hill and in Guatemala. 


As well as Torlon Hill, Firestone has a significant land position throughout a
historical carbonate hosted zinc-lead-silver district extending across a 250km
belt in Guatemala. Scant modern exploration has taken place in the carbonate
belt despite the historical mining of numerous oxide and sulphide zinc
occurrences on surface. Firestone is currently evaluating and sampling a number
of these occurrences. In addition, Firestone is working on drilling its zinc
oxide prospects in Nevada, U.S.A.


Alexander is a mining and mineral processing technology company with a
reputation for strong technical management, allied with financial markets'
expertise and experience. Through its wholly owned subsidiary MetaLeach Limited,
it is solely focused on the commercialisation of its proprietary mineral
processing technology. 


Certain of the statements made and information contained in this news release
constitute 'forward looking information' within the meaning of applicable
securities legislation. All information and statements which are not historical
facts included herein, including without limitation, those regarding the
Company's proposed joint venture with Anvil Mining Limited, the construction and
development of the Pilot Plant, management's business strategy, and plans and
objectives of management for future operations, constitute forward looking
information. In many cases, forward looking information can be identified by
words such as "may", "will", "should", "expect", "plan", "anticipate",
"believe", "estimate", "potential", or other similar terminology. Such
statements reflect management's current expectations regarding future events and
involve numerous assumptions, risks and uncertainties both general and specific
to the Company and the industry in which the Company operates. Such assumptions,
risks and uncertainties include, but are not limited to, the ability of the
Company to obtain financing to fund the joint venture and the construction of
the Pilot Plan, the market conditions affecting the availability and terms of
such financing, and the ability of the Pilot Plant to generate revenue once
built. Should one or more of these risks and uncertainties materialize, or
should underlying assumptions prove incorrect, actual results, performance or
achievements of the Company and the joint venture may vary materially from those
described in this document. Accordingly, readers are advised not to place undue
reliance on forward looking information. Except as otherwise required by law,
the Company does not intend to and assumes no obligation to update or revise
forward looking information, whether as a result of new information, plans,
events or otherwise.

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