Alexis Minerals Corporation

Alexis Minerals Corporation

November 10, 2006 08:00 ET

Alexis Completes Second Gold Pour at Lac Herbin

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2006) - Alexis Minerals Corporation (TSX VENTURE:AMC) is pleased to announce the completion of custom milling of a bulk sample obtained during the underground exploration program on the Lac Herbin gold deposit. The final gold pour was completed on November 8, 2006 and yielded two (2) additional gold Dore bars for a cumulative weight of 1,378.2 ounces. Over the course of the test milling program, Alexis has poured a total of four (4) bars for 2,752.5 ounces. A reconciliation of the total amount of gold recovered by the mill is currently in progress and will be used to determine the overall grade of the Lac Herbin deposit, the mill recovery rates as well as the cut-off grades that will be applied to future mining and exploration of the deposit. The bars have been shipped to the Royal Canadian Mint for refining and determination of gold content.

"The milling campaign was very successful and gives us confidence in the gold grades and milling characteristics of the Lac Herbin deposit," said David Rigg, President and CEO of Alexis Minerals. "I want to, once again, congratulate the team for a job well done. This is a significant step for Alexis as we advance this project towards production."

The 15,000 metric tonne (T) bulk sample consisted of four separate stockpiles representing mineralization from drifting and raising on the two principal zones, the HW Zone and the S1W Zone, with the two remaining stockpiles representing 1) the S3 Zone and, 2) all other mineralization encountered throughout the 3-phase underground program.

The completed milling campaign represents the final stage of a three phase underground exploration program initiated in September 2005. Results from the milling campaign will assist with engineering and resource evaluation of the deposit. The Lac Herbin project is located 10 km northeast of Val-d'Or and 1.8 km from the wholly-owned 1400 TPD Aurbel Gold Mill.

Quality Control

The Milling Campaign on the Lac Herbin bulk sample is being undertaken on a commercial basis by Usine Camflo Inc., Malartic, Quebec and is being supervised on behalf of Alexis by Maureen Paterson, P.Eng., Metallurgist and Qualified Person as defined under NI 43-101 guidelines. A strict QA/QC program is followed on samples taken from the mill circuit. Rejects are kept for future reference or metallurgical testing. Analyses are performed by Bourlamaque Assay Labs - Val d'Or (Quebec) for Camflo. Analyses are performed by ALS Chemex - Chimitec of Val-d'Or (Quebec) for Alexis.

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 100%-owned 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. Alexis has purchased the 1400 tonne per day Aurbel gold mil and holds a 100%-interest in the Aurbel property. The Company is also currently advancing towards a 50% interest in 825 square kilometres of the Rouyn-Noranda Mining Camp in JV with Xstrata Plc (formerly Falconbridge Ltd.).

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements"

The TSX Venture Exchange 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)
    Alexis Minerals Corporation
    Peter Cashin
    Investor & Corporate Affairs
    (416) 861-5905
    Alexis Minerals Corporation
    Louis Baribeau
    Relationiste, Quebec
    (514) 667-2304
    Email: (FAX)