Alexis Minerals Corporation

Alexis Minerals Corporation

December 20, 2007 08:30 ET

Alexis Develops $5.9 Million Financing Through Investissement Quebec

TORONTO, ONTARIO--(Marketwire - Dec. 20, 2007) - Alexis Minerals Corporation (TSX:AMC) is pleased to announce that a "Loan Guarantee" has been received from Investissement Quebec to support a short term loan of $5.9 million through two Major Canadian Chartered Banks (AMCCB). Under Quebec provincial tax regulations, 35% of all exploration expenditures in Quebec are refunded upon presentation of audited financial statements on year end reporting. The loan is secured against anticipated 2008 Quebec tax rebates of $7.9 Million in July 2008. The funds advanced to Alexis in 2007 will be repaid upon receipt of the rebate in 2008.

The Banks will advance funds against the "Loan Guarantee" at a merged interest rate of Prime plus 0.75%. The arrangement is similar to an agreement between Alexis and Investissement Quebec in 2006. The 2006 loan to Alexis, retired in August 2007, was the first such business agreement made in the mining industry in Quebec.

The loan allows Alexis to benefit from the Quebec Rebate System on a timely basis. The funds will be used in support of strategic business activities in 2008. Alexis will receive gross proceeds of $5.9 Million in the current year, with the balance of the rebate ($2 million) expected to be received in July 2008 and after closure of the "Loan Guarantee".

"This is very important support by Investissement Quebec and the AMCCB for Alexis and demonstrates the level of support that the Company garners in the Abitibi area of Quebec," said David M. Rigg, President and CEO of Alexis Minerals. "Alexis Minerals is following an aggressive exploration strategy in the Abitibi Region, supported by a clear financial strategy of which this is part. The Investissement Quebec facility provides strategic capital support for our 2007-2008 business plan which incorporates potential production and cash flow from two producing gold mines."

About Alexis Minerals

Alexis Minerals Corporation is a Canadian exploration and development company listed on the Toronto Stock Exchange. Alexis holds an outstanding portfolio of properties covering the Val-d'Or and Rouyn-Noranda Mining Camps in Quebec. Alexis owns the 1400 tonne per day Aurbel gold mill and holds a 100%-interest in the Aurbel property. Alexis will vest into a 100% ownership of all remaining interests of Aur Resources on approximately 212 square kilometers of the Val-d'Or Mining Camp in early 2008. Alexis also has the right to earn-in into a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda. The Company is currently advancing towards a 50% interest in 825 square kilometres of the Rouyn-Noranda Mining Camp in JV with Xstrata Copper Canada (formerly Falconbridge Ltd.). 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. One surface drill is currently active in Val-d'Or and one surface drill in Rouyn-Noranda.

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 those actual developments or results may vary materially from those in these "forward looking statements.

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