Alexis Targets 150,000 oz. Annual Gold Production as Resources More Than Double With Garson Gold Acquisition

• Published in: Marketwire
• Format: Trade Publication Article
• Language: English
• Published: Toronto Intrado Digital Media Canada Inc 22.01.2010

(Marketwire - Jan. 22, 2010) - ALEXIS MINERALS CORPORATION (TSX:AMC) ("Alexis" or the "Company") announces that its successful acquisition of Garson Gold Corp. ("Garson") creates a significantly enhanced gold resource base for Alexis, more than doubling the amount prior to the acquisition. Measured and Indicated Resources now exceed 865,000 ounces of gold (108% increase) and Inferred Resources are 479,000 ounces of gold (195% increase). Alexis will focus on the potential to develop production into 2011 with the expectation of reaching mid-tier gold production levels exceeding 150,000 ounces of gold per year, which forecasts are subject to completion of positive feasibility studies. Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC"). 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 where an underground bulk sampling and exploration program is ongoing. 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). A third project area is located in the very prospective Snow Lake Mining Camp in Manitoba where Alexis will complete a feasibility study of the New Britannia Mine in 2010 as well as exploration across the properties. Further information about Alexis Minerals can be found at its website: www.alexisminerals.com.