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Alexis Commences Milling of Gold Ore Stockpiles As Mine Development Continues Towards Production at Lac Herbin

Posted on: Wednesday, 4 June 2008, 09:01 CDT

ALEXIS MINERALS CORPORATION (TSX: AMC) is pleased to announce that the transportation of ore to a local custom gold mill has commenced from surface stockpiles, development headings and initial stopes at its 100% owned Lac Herbin gold project in Val d'Or, Quebec. Approximately 20,000 tonnes will be shipped to the Camflo Mill during this campaign, the first of several campaigns scheduled in accordance with the recent mine feasibility study (see www.sedar.com "Technical Report", April 9, 2008). Processing of the material has been scheduled to commence on June 10, 2008.

Work on the Lac Herbin Deposit is either completed or advancing to meet the objectives and schedule of the recent mine feasibility study, including:

- Main ventilation raise and secondary access completed from surface to the 200-m level.

- Principal ramp access extended from the 250-m level to the 290-m level

- Access drift into the S3 ore zone at the 290-m level completed. Drifting will now develop the zone to the limits of mineralization in the S3 zone in preparation for stoping during 2008.

- Ventilation raise from the 290-m to 200-m level in progress.

- Level development and sill development has been completed on two headings in the HW zone, at the 250-m and 170-m levels; in the Lac Herbin Zone at the 170-m level; and in the S1 zone on the 250-m level.

- Raising and sublevel development has been completed on the Lac Herbin and HW Zones on the 170-m level where stoping has commenced.

The intersection of several principal groups of structures in the deposit is proving to be an important aspect of understanding ore geometries and controls throughout the deposit and an important aspect from an engineering and exploration prospective of the deposit. The principal structures are the LH, HW2, S1, S3 Group (Azimuth 090 degrees, Dip 70 - 85 degrees South); the HW and HW3 Group (Azimuth 070 degrees, Dip 35-50 degrees SE); and the WE, S2 and S4 Group (Azimuth 110 degrees, Dip 35-50 degrees SW). As examples of the effect of the interplay of structures in the deposit learned through recent development:

- Development towards the S3 zone on the 290-m level recently intersected the S2 shear in the immediate footwall to the S3 zone. The S2 shear in proximity to S3 carries locally strong mineralization. The low angle intersection of the two zones is projected to account for drill indicated widths ranging from 3 to 9 metres, intersected across the S3 zone and plunging 45 degrees to the west.

- Conversely, outer ore limits of the S1 Zone appear to be defined by the intersection of the S1 shear with the S2 - WE shears, and also the HW - HW3 shears. The orientation of these structural intersections is interpreted to identify ore limits in the S1 zone giving both easterly and westerly trending features within the plane of the S1 longitudinal section. Ore widths and grades are interpreted within these limits to be related to shearing along the plane of the S1 shear.

- Level development on the 250-m level has also recently encountered the HW2 zone. The HW2 zone is a new, recently discovered zone at depth in the deposit (see Press Release: October 15, 2007). The zone parallels the principal S3 and S1 zones and lies approximately 100 metres north of S1, almost vertically below the high grade Bonanza Zone (see Press Release: April 06, 2006). Mineralization in the HW2 zone at the 250-m level is focused within a 30-cm wide vein of very high grade along the 15 metres of lateral development completed in the zone. Chip samples range from 2.0 to over 10.0 oz.Au/T. The high grade zone has developed along the HW2 shear between intersections with the WE and HW3 structures. Mineralization is open up and down plunge. This style of mineralization may be repeated across the deposit and represents a good exploration target at other similar structural intersections.

Alexis is continuing the program of delineation and exploration drilling budgeted at over 40,000 metres during 2008. Five underground machines are currently active. Two machines have recently commenced initial exploration to test the depth extension of the S1, S3 and HW2 zones. Targets along strike are also being generated for testing with a combination of underground and surface drilling. Delineation drilling is continuing to focus on areas identified for production in 2008 - 2009.

The content of this press release has been reviewed by the respective Qualified Persons. The Lac Herbin underground program is supervised by Mr. Patrick Sevigny, Eng., Project Manager and Mr. Olivier Grondin, P.Geo., Mine Exploration Geologist, and, Ms. Audrey Lapointe P.Geo. Mine Production Geologist; Qualified Persons as defined under NI 43-101 guidelines. Assay samples are taken from underground exploration drill core sawed in half with one half sent to a commercial laboratory and other half retained for future reference. Whole core sampling procedures are followed on infill drilling and delineation drilling. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Analyses were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec).

About Alexis Minerals

Alexis Minerals Corporation is a Canadian exploration and development company listed on the Toronto Stock Exchange. Alexis owns the 1400 tonne per day Aurbel gold mill and is currently advancing the adjacent, wholly-owned Lac Herbin Gold deposit into production in 2008. Alexis also has the right to earn in into a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda and is focused of advancing this project to a commercial production decision in 2008. Alexis holds an outstanding portfolio of properties covering 1,005 sq. km. of the prospective Val d'Or and Rouyn-Noranda Mining Camps in Quebec and explores these properties for both gold and base metals. Approximately 786 sq. km. of the Rouyn-Noranda Mining Camp is explored in a 50-50 joint venture with Xstrata Copper. There are currently five underground drills active at Lac Herbin, two surface drills active in Val d'Or and one surface drill active in Rouyn-Noranda.

Forward looking information

This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, estimates regarding the timing and costs of production and exploration, mineral prices, feasibility of projects, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. These forward looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

 Contacts: Alexis Minerals Corporation David Rigg President and CEO (416) 861-5889 (416) 861-8165 (FAX)  Alexis Minerals Corporation Bruce Barch VP Investor & Corporate Affairs (416) 861-5905  Alexis Minerals Corporation Louis Baribeau Relationiste, Quebec (514) 667-2304 Email: info@alexisminerals.com Website: www.alexisminerals.com

SOURCE: Alexis Minerals Corporation

Source: MARKET WIRE

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