Alexis Minerals Corporation
TSX VENTURE : AMC

Alexis Minerals Corporation

January 26, 2007 09:45 ET

Alexis Minerals Corporation Announces $20 Million Underwritten Private Placement

TORONTO, ONTARIO--(CCNMatthews - Jan. 26, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Alexis Minerals Corporation (TSX VENTURE:AMC)(the "Company") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Sprott Securities Inc. and including CanaccordAdams, CIBC World Markets Inc., Loewen Ondaatje McCutcheon Limited and Orion Securities Inc. pursuant to which the underwriters have agreed to purchase 20 million units of the Company on a underwritten private placement basis at a price of $1.00 per unit. Each unit shall consist of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant shall be exercisable at any time for one common share at a price of $1.35 per share for a period of two years following closing. Sprott shall be entitled to a cash commission equal to 6.0% of the gross proceeds of the offering.

Sprott shall also have the option, exercisable prior to the closing of the offering, to purchase up to an additional 5 million units at the issue price under the offering. The offering is scheduled to close on or about February 13, 2007 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

The net proceeds of the offering will be for continued exploration and development of the Lac Herbin Deposit and for general working capital purposes.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian exploration and development company listed on the TSX Venture Exchange. Alexis holds an outstanding portfolio of properties covering the Val-d'Or and Rouyn-Noranda Mining Camps in Quebec. Alexis is following strategic exploration approaches across these properties for both gold and base metals, with a focus on the potential for gold production from the Lac Herbin and Lac Pelletier deposits during 2007 - 2008. Alexis has a clear route to 100% ownership of all interests of Aur Resources on approximately 212 square kilometres of the Val-d'Or Mining Camp and has recently purchased the 1400 tonne per day Aurbel gold mill. The Company is also currently advancing towards a 50% interest in 825 square kilometres of the Rouyn- Noranda Mining Camp, all of the property holdings of Falconbridge Limited (formerly Noranda Inc.). Alexis has the right to earn-in into a 100% interest in the Lac Pelletier property.

This document may contain or refer to forward-looking information based on current expectations. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Alexis Minerals Corporation
    David Rigg
    President and CEO
    (416) 861-5889
    (416) 861-8165 (FAX)
    or
    Alexis Minerals Corporation
    Peter Cashin
    Investor & Corporate Affairs
    (416) 861-5905
    or
    Alexis Minerals Corporation
    Louis Baribeau
    Relationiste, Quebec
    (514) 667-2304
    Email: info@alexisminerals.com
    Website: www.alexisminerals.com