Thundermin Resources Inc.

Thundermin Resources Inc.

November 29, 2007 10:09 ET

Alexis to Advance Underground Exploration Towards Production Decision in 2008 at Thundermin's Lac Pelletier Gold Deposit, Rouyn-Noranda, Quebec

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2007) - Thundermin Resources Inc. ("Thundermin") (TSX:THR) announces that it has been informed by Alexis Minerals Corporation ("Alexis")(TSX:AMC) that Alexis has received a Certificate of Authorization from the Ministere du Developpement durable, de l'Environment et des Parcs, Quebec for an underground exploration and bulk sampling program at Thundermin's Lac Pelletier gold deposit. This program will include a 40,000 t bulk sample which will lead to a production decision in 2008 (see Alexis news release dated November 15, 2007).

On September 1, 2005, Thundermin granted Alexis the option to acquire a 100% interest in the Pelletier Lake gold deposit located at Rouyn-Noranda, Quebec. Alexis' sole remaining obligation to becoming vested in a 100% interest in the property is to make a production commitment prior to September 1, 2008. Such commitment can be delayed for one year by making a cash payment to Thundermin of $75,000. Upon reaching commercial production, Thundermin will be entitled to a 2.5% NSR on any production from the property. Complete details of the agreement can be found on Thundermin's website or on SEDAR.

On August 31, 2006, Alexis announced that it had completed a revised geological model and a new, National Instrument 43-101 ("NI 43-101") compliant, mineral resource calculation for the Pelletier Lake gold deposit. Measured and indicated resources were estimated by Alexis to be 1,179,834 t grading 6.05 g/t Au (241,632 oz Au) at a cut-off grade of 3.0 g/t Au. Inferred resources were estimated to be 491,140 t grading 5.17 g/t Au (81,637 oz Au) at a cut-off grade of 3.0 g/t Au.

On April 19, 2007, Alexis announced the results of a Scoping Study completed by Golder Associates Ltd. ("Golder") on the Pelletier Lake gold deposit. The Golder study makes the case for the potential to develop a robust underground mining operation at a gold price of US$550 per ounce with considerable upside potential. The study demonstrates that the Pelletier Lake deposit has the potential to produce in excess of 40,000 ounces per year at a cash cost of US$423 per ounce and can be in production within one year. Alexis advises Thundermin that recent improvements to the gold price since the completion of the Scoping Study strongly supports the economic potential of the deposit and the viability of a production decision in 2008. In addition, the recent increase in the gold price along with recent diamond drilling successes both within and outside of the known resource areas suggest that there is the potential to increase the magnitude of the resources that may eventually be mined from the deposit.

If Alexis succeeds in attaining production at Pelletier Lake at the rates suggested by Golder in the Scoping Study, Thundermin's 2.5% NSR could generate somewhere in the range of $700,000 to $800,000 per year for Thundermin, commencing sometime in 2008, at a gold price of US $750 to $800 per oz.

The mining and engineering aspects of the Lac Pelletier program are being supervised by Robert Inglis, P. Eng and Claude Perrault, P. Eng. for Alexis with the geological aspects of the program being supervised by Jean Girard, P.Eng., Exploration Manager for Alexis, all being Qualified Persons as defined under NI 43-101.

For further information on Thundermin Resources Inc. visit Thundermin's website at or the SEDAR website at

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