Alexis Initiates Turnaround Plan for Lac Herbin Mine

TORONTO, ONTARIO -- (Marketwire) -- 06/08/11 -- ALEXIS MINERALS CORPORATION (TSX: AMC)(OTCQX: AXSMF) ('Alexis' or the 'Company') announces that it is launching the turnaround plan for the Lac Herbin mine. The plan involves the combination of intensive underground development, significant near mine exploration and the improvement of recoveries at the mill.

Exploration work launched initially in the fourth quarter has focused on three potential zones near mine infrastructure, the BZ, FL and Apex zones. These zones are less than 300 metres from current underground infrastructure and have inferred mineral resources that are presently being drilled.

Beginning June 6, 2011, an intensive underground development program has been initiated, with additional equipment and manpower being mobilized. The goal of this turnaround plan will be to increase operating flexibility by having a larger number of active stopes. The Company's current goal is to have up to five stopes available, which is an increase from the three stopes that operations were working with in 2010. Once this infrastructure is established, which should occur by the end of the third quarter, it is expected the operations should return to profitability with 2012 production expected in the range from 15,000 to 20,000 ounces leading to revenues from $22 million CAD to $38 million CAD at current gold prices.

Furthermore, as part of the turnaround plan, the Company's Aurbel mill, which has had year to date recoveries of 89.3%, is to be subject to certain improvements that aim to increase recoveries to 92%. The Aurbel mill is located one kilometre to the east of the Lac Herbin mine.

Alexis intends to maintain the current levels of drilling in order to expand its estimated mineral resources and to generate new exploration targets. Francois Perron, Alexis President and CEO, comments, 'In a short period of time, our drilling efforts have been encouraging, and I look forward to reporting results as information becomes available. Pursuing the exploration program will improve our knowledge of the deposit to the east and to the west and potentially generate new targets for 2012 and 2013. The new plan will balance the production effort with the nature of the deposit and maximize flexibility for operations underground. This will allow operations to continuously adapt to the evolving nature of the veins we are mining.'

Qualified Persons

The technical and scientific content of this press release has been reviewed by Audrey Lapointe, P.Geo and Patrick Sevigny, Eng. and 'Qualified Persons' 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'. The Company's focus is to grow through exploration, development and acquisition of mineral properties and directly and indirectly, through joint ventures. Alexis is now in its second full year as a junior gold-producing company. The Company holds a dominant property position (over 1,050 km2) in three of Canada's richest mining camps: Val-d'Or and Rouyn-Noranda, in the Abitibi District of Quebec, Canada, historically the 3rd richest gold producing region in the world; and Snow Lake, Manitoba, Canada. Alexis undertakes exploration across these properties searching for new world class discoveries, while maintaining a focus on growing Alexis to become a mid-tier gold producer.

Forward-looking information

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the impact of the results of the turnaround program on the Company and its understanding of and ability to develop the property, the timing and amount of future exploration and development of the property, and the future financial or operating performance of Alexis and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contacts:

Alexis Minerals Corporation

Francois Perron

President and CEO

(416) 309-2952


Alexis Minerals Corporation

Rob Hopkins

Investor Relations

(416) 861-5899 or Toll free: 877-717-3027
info@alexisminerals.com
www.alexisminerals.com