Alexis Minerals Corporation
TSX : AMC
OTCQX : AXSMF

Alexis Minerals Corporation

January 18, 2011 08:30 ET

Alexis Elucidates Recent Management Changes

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2011) - ALEXIS MINERALS CORPORATION (TSX:AMC)(OTCQX:AXSMF) ("Alexis" or the "Company") is pleased to provide further information regarding its recent management changes.

The Alexis Board of Directors is excited to have recruited Francois Perron to the Company as its new President and Chief Executive Officer. Further, the Board of Directors believes that the combination of Mr. Perron and Mr. Rigg, who has been appointed as Co-Chairman, provides the Company with a strong and well respected management team. 

The Company is aggressively pursuing a two-pronged strategy featuring increasing gold production from the Company's Snow Lake, Lac Herbin and Lac Pelletier properties and significant exploration efforts in the Abitibi region of Quebec and Snow Lake, Manitoba. The Company expects that combining the management and business development strengths of Mr. Perron with Mr. Rigg's geological expertise and strategic vision will enhance the Company's ability to accomplish its strategy.

One of Mr. Perron's key objectives will be to secure attractive financing for the development of the Snow Lake Mine while overseeing the day-to-day operations of the Company. "I am excited to be joining the Alexis management team, having been acquainted with management for over six years. I have high expectations for Alexis' potential and hope that my contributions will add value to Alexis and its investors," Mr. Perron stated.

In his new role as Co-Chairman, Mr. Rigg will focus on guiding Alexis towards strategic advances in exploration and development. In 2011 Alexis plans to conduct exploration programs with an aggregate budget of no less than $12 million. "The portfolio of properties held by Alexis is of significant value, a value not currently reflected in our share price. It is our objective to realize value from these properties through continuing exploration for base metal and precious metal deposits" stated Mr. Rigg. "At this stage in Alexis's development, I am pleased to have Mr. Perron join the management team as the President and Chief Executive Officer, as he brings significant business experience to manage the day-to-day operations of Alexis, adding strength and depth to our management team. It is appropriate that I transition into an active role focused on increasing Resources and Reserves, the discovery of new deposits and, with Mr. Perron and our Board, on the longer term realization of value for our shareholders."

Mr. Jamie Lavigne, formerly the Vice President of Exploration after the merger with Garson Gold in 2010, will continue to work with Alexis as a consultant in the generation of exploration targets across the Snow Lake Region. Mr. Darren Simms has been promoted to Exploration Manager within the Snow Lake exploration team and will contribute his significant exploration and mine discovery experience in the region. In addition, Mr. Earl Masarsky has joined the Company as Chief Mine Geologist and will contribute over 19 years of mine production experience to further augment the technical expertise and ability of the Snow Lake Team to realize value and success in its future endeavours.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC") and trades in the United States on the Over the Counter QX International platform (OTCQX:AXSMF). 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, both in Quebec. Alexis also owns the Snow Lake Mine in Manitoba. With these assets Alexis has the potential to develop gold production forwards. Alexis is targeting mid-tier gold production levels in 2011. 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 sq. km and in joint venture with Xstrata Copper) as well as in the Snow Lake Mining Camp (100% ownership of 92 sq. km). For more information about Alexis Minerals visit alexisminerals.com.

Forward-looking information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the impact of new management and the future financial or operating performance of Alexis and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Estimates regarding the anticipated impact of the appointment are based on previous professional accomplishments and competencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company. For a description of the factors affecting forward-looking information and the basis of management estimates, please see a copy of the annual information form of the Company and the technical report relating to the feasibility study, both of which are available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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