Alexis Expands Near Mine Potential on Toots West Zone, Snow Lake Mine

TORONTO, ONTARIO, Sep 01, 2011 (MARKETWIRE via COMTEX News Network) --

ALEXIS MINERALS CORPORATION (TSX: AMC)(OTCQX: AXSMF) ("Alexis" or the "Company") is pleased to report drill results from its West Toots drill program at the Main Mine property in Snow Lake, Manitoba. The Toots West Zone is located at the western limits of the Main Mine underground infrastructure.

The West Toots drill program was initiated in order to bolster the anticipated startup of the Snow Lake Mine by increasing the size of the resource envelope near mine infrastructure. The results of the drilling program are shown in Table 1 below.

Table 1

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               West Toots Drill Program
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                                 Core
               From            Length
Hole Number     (m)   To (m)   (i)(m)  Au g/t     Zone              Comments
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MM11-01                                             NA       Shut down at 29
                                                               metres due to
                                                                 significant
                                                        deviation in azimuth
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MM11-02      330.44   331.17     0.73   5.312    HW of
                                                 Toots     NSV on Toots West
                                                  West      (Main) structure
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MM11-03      591.51   592.51     1.00   1.429    Toots               Several
                                                  West   intersections on HW
                                                (Main)      structures up to
                                                              2.490g/t/1.83m
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MM11-04      493.76   495.78     2.02   1.579    Toots               Several
                                                  West   intersections on HW
                                                (Main)      structures up to
                                                               1.85g/t/2.53m
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MM11-05      508.68   511.48     2.80   1.930    Toots
                                                  West
                                                (Main)
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MM11-06      269.86   272.40     2.54   2.426    Toots
                                                  West
                                                (Main)
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MM11-07      508.60   512.00     3.40   2.259    Toots    Intersection on HW
                                                  West          structure of
                                                (Main)        3.588g/t/1.77m
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MM11-08      150.27   152.34     2.07   1.888    Toots    Intersection on HW
                                                  West          structure of
                                                (Main)       19.140g/t/0.17m
----------------------------------------------------------------------------
MM11-09      118.85   124.90     6.05   1.970    Toots       Intersection of
                                                  West        1.338 g/t/3.2m
                                                (Main)  located 2.22m in the
                                                                HW main zone
                                                                intersection
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(i) The core length represents the drilled intercept length. Efforts were
made to intercept the Toots West structure at an angle to best represent the
true thickness, however, the true thickness is not known with certainty.

The program focused on continuing the definition of the hanging wall section of the mineralized zone and, although the average grades are lower than the reserve average, they are near or above the cut off grade of 1.9 g/t Au established with a gold price $1,149 in the feasibility study prepared for the Snow Lake Mine project, a copy of which is filed under the Company's profile on SEDAR at www.sedar.com. More importantly, the drill results allow Alexis to infer the continuity of the down dip and strike of the Toots West structure towards the easterly plunging McLeod Road Thrust which delineates the West Toots structure limit. The majority of these new holes are outside of the current resource envelope, but infer the continuation of the structure shown in Figure 1.

Francois Perron commented on the results: "As the Snow Lake project is nearing the construction our primary focus has been to improve our understanding of the upper main mine. The current set of results have significantly increased our confidence in this particular area of the upper main mine where resources had been constrained by lack of information. Our near-mine exploration program will now focus on the Upper Toots while regional drilling is investigating the Caper and the Birch zones."

Qualified Persons and Quality Control

The technical and scientific content of this press release has been reviewed by Earl Masarsky, P. Geo.,Chief Mine Geologist, Manitoba Division, Alexis Minerals and Qualified Person as defined under NI 43-101 guidelines. Diamond drill core is logged and sampled by company personnel at the Snow Lake Mine. Core (NQ) is cut in half using a diamond saw with one half bagged and submitted for assay and the remaining half sample retained and archived in a secure facility. A strict QA/QC program is followed that includes mineralized standards, blank and field duplicate for each batch of samples. Samples are shipped by secure truck to TSL Laboratories Inc. (TSL) Saskatoon, Saskatchewan, an ISO/IEC 17025 accredited assay facility established in 1981. The Laboratory is certified by the Standards Council of Canada for gold analyses utilizing instrumental or gravimetric finish.

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 third 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.