QMX Gold Corporation V.QMX

Alexis Returns 9.43 Grams Gold

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Alexis Returns 9.43 Grams Gold Over 12.0 Meters in Lac Pelletier Drilling-Zone 4 Potential Expanded TORONTO, ONTARIO, Sep 07, 2006 (MARKET WIRE via COMTEX News Network) -- Alexis Minerals Corporation (TSX VENTURE: AMC) is pleased to report initial assay results from exploration drilling on the Lac Pelletier gold project in Rouyn-Noranda in follow up to recently reported Resource estimate (see Press Release: August 31, 2006). The barge-based diamond drilling program was conducted in July to test a new geological model for gold mineralization at the Lac Pelletier Project and to test for extensions of known gold zones (No. 3 & 4) on the property. A program of 15 drill holes for 4,518 m was completed. Assays results from the first eight (8) holes have been recently received. The new results include an intersection of 9.43 grams gold per tonne (g Au/t) over 12.0 metres (m) in hole 17475-08, in an area to the east of the recently reported Alexis Resource. Potential to expand resources through this area is high. Additional assay results will be reported as they become available from the assay laboratory. The Lac Pelletier property is located 4 km southwest of the town of Rouyn-Noranda and consists of 35 claims and 2 mining concessions covering 723 hectares. The highlights of results from the first 8 drill holes (see Table 1) include: Zone 4 Deposit:---------------- 9.43 g Au/t over 12.0 m (Hole 17475-08) - including, 10.68 g Au/t over 9.9 m- 3.66 g Au/t over 4.9 m (Hole 17475-06) - including, 4.12 g Au/t over 3.4 m- 2.87 g Au/t over 5.0 m (Hole 17475-07) - including, 5.78 g Au/t over 2.1 mZone 3 Deposit :----------------- 7.42 g Au/t over 6.2 m (Hole 17475-11) including, - including, 8.42 g Au/t over 5.2 m "The new exploration drilling results demonstrate the applicability of the model to the project area," David M. Rigg, President and CEO of Alexis Minerals. "All holes intersected the targeted structures or zones within metres of their projected locations. The drilling has confirmed continuity to mineralization in the zones and also confirmed the extension of mineralization outside of the newly established Resource limits. Several of the new results (holes 17475-06; 07 and 08 for Zone 4 and 17475-11 for zone 3) are located in a previously unexplored area of the property and will impact significantly on the ultimate tonnage potential." The intersection(s) in hole 17475-08 is considered material in nature with mineralization remaining open in all directions and towards hole -13, 100 metres to the West. Assays from hole 17475-13 and an additional 5 holes (17475-9; 10 and 12 to 15) are expected from the assay laboratory shortly. Additional diamond drilling on new targets on the property will be undertaken in September. Quality Control The Lac Pelletier program is supervised by Mr. Philippe Berthelot, P.Geo., Qualified Person as defined under NI 43-101 guidelines. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and other half retained for future reference. A strict QA/QC program is followed which includes mineralized standards and blank for each batch of samples. Analyses were performed by Techni-lab, Abitibi (Quebec). About Alexis Minerals Alexis Minerals Corporation is a Canadian exploration and development company listed on the TSX Venture Exchange. Alexis holds an outstanding portfolio of properties covering the Val-d'Or and Rouyn-Noranda Mining Camps in Quebec. Alexis is following strategic exploration approaches across these properties for both gold and base metals, with a focus on the potential for gold production from the Lac Herbin and Lac Pelletier deposits during 2007 -- 2008. Alexis has a clear route to 100% ownership of all interests of Aur Resources on approximately 212 square kilometres of the Val-d'Or Mining Camp and has recently purchased the 1400 tonne per day Aurbel gold mill. The Company is also currently advancing towards a 50% interest in 825 square kilometres of the Rouyn-Noranda Mining Camp, all of the property holdings of Falconbridge Limited (formerly Noranda Inc.). Alexis has the right to earn-in into a 100% interest in the Lac Pelletier property. Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward looking statements" Table 1 -- Lac Pelletier Barge-based Diamond Drilling Results---------------------------------------------------------------------------------------------- Easting Northing LengthHole Az. Dip (m) (m) (m)----------------------------------------------------------------------------------------------17475-01 644,570 5,341,630 210 -70 312.0-----------------------------------------------17475-02 644,478 5,341,630 210 -70 232.5-----------------------------------------------17475-03 644,413 5,341,797 210 -70 231.0-----------------------------------------------17475-04 644,529 5,341,819 210 -75 324.0-----------------------------------------------17475-05 644,532 5,341,240 300 -65 414.0-----------------------------------------------17475-06 644,415 5,341,342 300 -63 261.0-----------------------------------------------17475-07 644,432 5,341,402 300 -67 246.0-----------------------------------------------17475-09 644,337 5,341,786 210 -65 231.0-----------------------------------------------17475-10 644,387 5,341,874 210 -65 264.0-----------------------------------------------17475-11 644,460 5,341,737 210 -72 231.0-----------------------------------------------17475-08 644,525 5,341,417 300 -70 301.0-----------------------------------------------17475-12 644,326 5,341,312 300 -60 228.0-----------------------------------------------17475-13 644,626 5,341,424 300 -65 387.0-----------------------------------------------17475-14 644,663 5,341,889 210 -75 441.0-----------------------------------------------17475-15 644,715 5,341,615 210 -70 414.0-----------------------------------------------TOTAL 4517.5--------------------------------------------------------------------------------------------------------------------------------------------------Hole Assay Results--------------------------------------------------------------------------------------------------------------------------------------------------17475-01 14.84 g/t Au over 1.0m (271.2-272.2)------------------------------------------------------------------------- 3.22g/t Au over 3.9m (276.3-280.2), incl. 6.05g/t Au over 1.5m-------------------------------------------------------------------------17475-02 5.05 g/t Au over 1.2m (175.2-176.4)-------------------------------------------------------------------------17475-03 1.99 g/t Au over 1.8m (209.2-211.0)-------------------------------------------------------------------------17475-04 L.V.-------------------------------------------------------------------------17475-05 7.15 g/t Au over 1.5m (177.0-178.5)-------------------------------------------------------------------------17475-06 3.66g/t Au over 4.9m (207.0-211.9), incl. 4.12g/t Au over 3.4m-------------------------------------------------------------------------17475-07 2.87g/t Au over 5.0m (208.2-213.2), incl. 5.78g/t Au over 2.1m-------------------------------------------------------------------------17475-09 assay pending.-------------------------------------------------------------------------17475-10 assay pending.-------------------------------------------------------------------------17475-11 7.42g/t Au over 6.2m (205.8-212.0), incl. 8.42g/t Au over 5.2m-------------------------------------------------------------------------17475-08 9.43g/t Au over 12.0m (276.0-288.0) Partial results - pending.-------------------------------------------------------------------------17475-12 assay pending.-------------------------------------------------------------------------17475-13 assay pending.-------------------------------------------------------------------------17475-14 assay pending.-------------------------------------------------------------------------17475-15 assay pending.------------------------------------------------------------------------- To view the Pelletier Lake zones 3 & 4 please click www.ccnmatthews.com/docs/Pelleetier%20Lake%20Zone%203-4.pdf The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Contacts:Alexis Minerals CorporationDavid RiggPresident and CEO(416) 861-5889(416) 861-8165 (FAX)Alexis Minerals CorporationPeter CashinInvestor & Corporate Affairs(416) [e-mail] Minerals CorporationLouis BaribeauRelationiste, Quebec(514) 667-2304www.alexisminerals.com SOURCE: Alexis Minerals Corporation mailto:[e-mail] https://www.alexisminerals.com