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Production & Exploration

The Company holds a dominant property position (+1,104 km2) in three of Canada's richest mining camps: Val-d‟Or and Rouyn-Noranda, in Abitibi District of Québec, historically the 3rd richest gold producing region in the world; and Snow Lake, Manitoba.

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Message: New Gold Mine Exceeds 2008 Production Target
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New Gold Mine Exceeds 2008 Production Target

posted on Jan 22, 2009 08:00AM
January 22, 2009
Alexis' New Gold Mine Exceeds 2008 Production Target and Remains Within Budget
TORONTO, ONTARIO--(Marketwire - Jan. 22, 2009) - ALEXIS MINERALS COPORATION (TSX:AMC) is pleased to advise that gold production in 2008 from its 100% owned Lac Herbin gold mine was 18,115 ounces, 6.6% above its most recent guidance of 17,000 ounces. Total 2008 mine costs were on budget. Audited financial reporting on revenue from gold produced in 2008 and costs are planned to be published in February. Annual gold production from Lac Herbin is expected to be at least 36,000 ounces in 2009, and annually thereafter supporting the Company's strategic priority of generating cash flow from gold production to fund aggressive exploration in the prolific Abitibi Mining District of Quebec.

2008 Summary of Gold Production

During the fiscal year ended December 31, 2008, Alexis became a gold producer mining 83,829 tonnes of ore (3% above target), with an average grade of 6.7 g/tonne (4% above projection). This was custom milled throughout the year at the local Richmont Mines' Camflo Mill with gold recoveries averaging 97.6%.

Fourth quarter results were a milestone for Alexis as commercial production was achieved on schedule at its first gold mine, Lac Herbin. This was the culmination of progressive successful programs from surface exploration in 2004 and 2005, underground exploration from 2005 through to late 2007 that resulted in a production decision in February 2008. Commercial production was achieved in October and full scale production in December 2008.

2008 Financial Results

Audited financial results for 2008 Year End and Fourth Quarter are expected to be released in due course, in February 2009. The Annual General Meeting of the Corporation will be held near the end of May, 2009 with details confirmed closer to the date.

Quality Control

The technical and scientific content of this press release has been reviewed by Keith Boyle, P.Eng., Chief Operating Officer, Alexis Minerals and Qualified Person as defined under NI 43-101 guidelines.
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