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ALEXIS MINERALS announces that further to its previous
disclosure, the Company issued a production commitment notice to Thundermin Resources Inc. ("Thundermin")
prior to September 1, 2010 to exercise its option to acquire the Lac
Pelletier Property, in accordance with the September 2005 option agreement
between the Company and Thundermin and related
amendments thereto (the "Option Agreement"). The Company has been
in discussion with Thundermin regarding the
transfer of full title and ownership of the Lac Pelletier Property to the
Company since the issuance of the production commitment notice. The Company
has been advised that Thundermin intends to
initiate an arbitration pursuant to the Option
Agreement in the absence of a resolution to this matter.
Alexis continues work on the Lac
Pelletier Property and believes that it has duly exercised its option under
the Option Agreement. Alexis is fully prepared to defend its rights in
respect of the Lac Pelletier Property through the arbitral process.
About Alexis Minerals
Alexis Minerals Corporation is a
Canadian mining company listed on the Toronto Stock Exchange (symbol
"AMC") and trades in the United States on the Over the Counter QX
International platform ("OTCQX: AXSMF"). The Company owns one
producing gold mine in Val-d'Or and the right to earn a 100% interest in the
Lac Pelletier gold property in Rouyn-Noranda, both
in Quebec. Alexis also owns the Snow Lake Mine in Manitoba. With these assets
Alexis has the potential to develop gold production forwards. Alexis is
targeting mid-tier gold production levels in 2011. Alexis undertakes
exploration in the mineral rich Val-d'Or (100% ownership of 212 sq. km.) and
Rouyn-Noranda Mining Camps (50% ownership of 785
sq.km and in joint venture with Xstrata Copper) as well as in the Snow Lake
Mining Camp (100% ownership of 92 sq. km). For more information about Alexis
Minerals visit alexisminerals.com.
Forward-looking information
This document may contain or refer to
forward-looking information within the meaning of applicable securities laws,
based on current expectations, including, but not limited to, expected
outcome of negotiations, title to the Company's properties and future mining
plans. 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 statements that certain actions, events or results
"may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
Forward-looking information is based on the opinions and estimates of
management as of the date such statements are made. Forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause the actual outcome to be materially different from
those expressed or implied by such forward-looking information. There can be
no assurance that such statements 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. Alexis does not undertake to update any
forward-looking information, except in accordance with applicable securities
laws.
Contact:
David Rigg
Alexis Minerals Corporation
President and CEO
(416) 861-5889
(416) 861-8165 (FAX)
info@alexisminerals.com
www.alexisminerals.com |
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