TORONTO, ONTARIO -- (Marketwire) -- 01/05/12 -- ALEXIS MINERALS CORPORATION (TSX:AMC)(OTCQX:AXSMF) ("Alexis" or the "Company") announces today that it has completed a bridge financing with Resource Income Fund, L.P. ("RIF").

The bridge financing provides Alexis with gross proceeds of $10,000,000 to continue its operations until such time as long term financing is finalized. As well as funding working capital, the bridge loan will be used to repay an outstanding $2.1 million convertible debenture. Upon closing of the term loan, anticipated to occur in the first half of 2012, the bridge financing will be repaid and closed. The bridge loan bears interest at an annual percentage rate of 15% and shall be repaid upon the earlier of the closing of the term loan or August 31, 2012. An upfront fee of 3% was paid to RIF upon closing of the facility.

In conjunction with the financing, RIF has been granted 4,000,000 warrants priced at $0.047 per share which represents a 5% premium to the 10-day VWAP of AMC's common equity. RIF has additionally been granted a call option on 7,000 oz of gold struck at US$1,900/oz.

Francois Perron, President and CEO commented: "The closing of the debt financing for the Snow Lake Project will be an important milestone and we anticipate it will be finalized within the next few months. During this time, the Snow Lake project team will continue to prepare and further refine our plans. The Company decided a debt financing was preferred at this time so not to further dilute our shareholders, however this type of financing is taking longer to complete than originally anticipated. The bridge loan will help the Company get through the upcoming months until the debt financing is in place."

The Lac Herbin Mine continues to run its turnaround plan, but the Company anticipates that the fourth quarter of 2011 will see the mine become operating cash flow positive. The bridge financing deal will not affect Alexis' Quebec operations.

The Company would also like to announce the appointment of Christine Gallo as Corporate Secretary of the Company. Ms. Gallo is a corporate securities lawyer who works as a legal consultant to several publicly traded companies in the mining industry. Ms. Gallo's appointment follows the resignation of Pat Gleeson, who will continue as a consultant to the Company. Alexis would like to thank Mr. Gleeson for his ongoing contributions.

Qualified Persons and Quality Control

The technical and scientific content of this press release has been reviewed by Jean Girard, P. Eng, Exploration Manager, Alexis Minerals employee and Qualified Person as defined under NI 43-101 guidelines.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian publicly traded mining company concentrating on exploration and mine development. The Company is listed on the Toronto Stock Exchange ("TSX") under the symbol "AMC", and trades in the United States on the Over the Counter QX International ("OTCQX") platform under the symbol "AXSMF". Alexis Minerals is a dynamic and aggressive mining company operating in Canada's richest mining regions: Val-d'Or & Rouyn-Noranda, Quebec, and Snow Lake, Manitoba. Alexis continues production and exploration in the mineral rich Val-d'Or area with property covering over 1,000 km2. The Company also continues work on its newest property at the Snow Lake Mining Camp. Alexis is now in its third full year as a junior gold-producing company and gold production is a priority as the company targets mid-tier gold production levels.