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Alexis drills 6.2 m of 24.77 g/t Au at Lac Pelletier

2010-05-04 08:38 ET - News Release

Mr. David Rigg reports

ALEXIS INTERSECTS HIGH GRADES AT LAC PELLETIER, QUEBEC INCLUDING 24.77 G/T GOLD OVER 6.2 METRES

Alexis Minerals Corp. has confirmed resource grade continuity and very good grades during the recent definition drilling campaign on its Lac Pelletier underground project in Rouyn-Noranda, Que., providing further support to the project. The Lac Pelletier underground drilling program was designed to test and verify the geological resource model for the deposit and to allow for the re-interpretation of the vein-type ore-bearing structures. The new Resource estimate for Lac Pelletier, incorporating this work, is in progress and will be used in the feasibility study scheduled to be completed early in May, 2010. After this is completed a production decision will be made.

An underground definition drilling campaign of 9,477 metres was carried out in Q1 2010, and completed on March 30th, 2010 as per schedule. This drilling campaign was undertaken to support the ongoing feasibility study.