Alexis Minerals Corporation
TSX VENTURE : AMC

Alexis Minerals Corporation

November 28, 2006 16:30 ET

Alexis Minerals Completes Private Placement Financing

TORONTO, ONTARIO--(CCNMatthews - Nov. 28, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Alexis Minerals Corporation (TSX VENTURE:AMC) (Alexis" or the "Company") announced today that it has closed a non-brokered private placement for gross proceeds of $3,675,990.50 through the issuance of 5,251,415 common shares which qualify as flow-through shares for the purposes of the Income Tax Act (Canada) (the "Flow-Through Shares") priced at $0.70 per Flow-Through Share. Each of the Flow-Through Shares is subject to a hold period that will expire on March 29, 2007.

The gross proceeds from the sale of the flow through shares will be used for general exploration expenditures in the Rouyn-Noranda and Val d'Or areas of Quebec, which will constitute Canadian exploration expenses (as defined in the Income Tax Act (Canada)) and will be renounced for the 2006 taxation year.

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.).

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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)
    or
    Alexis Minerals Corporation
    Peter Cashin
    Investor & Corporate Affairs
    (416) 861-5905
    or
    Alexis Minerals Corporation
    Louis Baribeau
    Relationiste, Quebec
    (514) 667-2304
    Email: info@alexisminerals.com
    Website: www.alexisminerals.com