Alexis Minerals Corporation
TSX : AMC

Alexis Minerals Corporation

April 19, 2011 15:22 ET

Alexis Minerals Announces $17.5 Million "Bought Deal" Financing

TORONTO, ONTARIO--(Marketwire - April 19, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Alexis Minerals Corporation (TSX:AMC) (the "Company" or "Alexis") is pleased to announce that it has entered into an agreement with a syndicate of investment dealers led by Cormark Securities Inc. and National Bank Financial Ltd. (the "Underwriters"), which have agreed to purchase, on a bought deal basis, 175.0 million common shares (the "Shares") of Alexis at a purchase price of $0.10 per Share (the "Offering Price"), for aggregate gross proceeds in the amount of $17.5 million (the "Offering").

In addition, the Company has granted the Underwriters an option to purchase up to an additional 26.25 million Shares (representing 15% of the base Offering) at the Offering Price exercisable within 30 days after the closing of the Offering for additional gross proceeds in the amount of up to approximately $2.6 million.

The Offering is scheduled to close on or about May 12, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

The net proceeds of the Offering will be used for exploration and development activities at the Company's gold projects located in Quebec and Manitoba and for general corporate purposes.

These securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release shall not constitute an offer to sell or solicitation of an offer to buy the securities in any jurisdiction. The common shares will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

Caution regarding 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 this appointment on the Company, the timing and amount of future production, 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". Forward-looking statements regarding the appointment are based on management's assessment on the date such assessments are made, based on past experience and competencies of the appointee. 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, which is 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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