Alexis Minerals Corporation

Alexis Minerals Corporation

July 09, 2009 09:10 ET

Alexis Announces Closing of Previously Announced Financing

TORONTO, ONTARIO--(Marketwire - July 9, 2009) - ALEXIS MINERALS CORPORATION (TSX:AMC) (the "Corporation") announced today the closing of its previously announced public offering (the "Offering") of 11,656,000 units ("Units") at a price of $0.50 per Unit and 7,450,000 "flow-through" common shares (the "Flow-Through Shares") at a price of $0.56 per Flow-Through Share for aggregate gross proceeds of $10,000,000. Each Unit is comprised of one common share of the Corporation and one-half of one common share purchase warrant, each whole warrant shall entitle the holder thereof to acquire one additional common share of the Corporation at a price of $0.70 until 5:00 p.m. (Toronto time) on July 9, 2011.

The Units were sold pursuant to an underwriting agreement with a syndicate of underwriters led by Cormark Securities Inc. and including CIBC World Markets Inc. (collectively, the "Underwriters").

The Corporation intends to use the net proceeds of the Offering of the Units for the refurbishment of the Aurbel gold mill, which is located one kilometer from Alexis' Lac Herbin mine, and for general corporate purposes. The gross proceeds of the Offering of the Flow-Through Shares will be used for exploration and development expenses that qualify for Canadian Exploration Expenses.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC"). The Company owns one producing gold mine in Val d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. Alexis undertakes exploration in the mineral rich Val d'Or (100% ownership of 212 sq. km.) and Rouyn-Noranda Mining Camps (50% ownership of 785 and in joint venture with Xstrata Copper). Further information about Alexis Minerals can be found at its website:

Forward looking information

This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to, mineralization projections, future production estimates and cost of production projections, projected capital and operating expenditures future exploration plans and techniques, estimates regarding the timing and costs of exploration, statements regarding possible acquisitions, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the future-looking information are based upon extensive technical and scientific analysis conducted by the management of the Company, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

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