ALEXIS MINERALS CORPORATION TSX VENTURE: AMC OTC Bulletin Board: AXSMF

TORONTO, ONTARIO--(CCNMatthews - June 15, 2006) - Alexis Minerals Corporation (TSX VENTURE:AMC)(OTCBB: AXSMF) is pleased to announce that a "Loan Guarantee" has been received from Investissement Quebec to support a short term loan of up to $3.6 million through a Major Canadian Chartered Bank (AMCCB). The loan is secured against anticipated 2007 Quebec tax rebates of $4.8 Million anticipated in July 2007. Under Quebec provincial tax regulations, 35% of all exploration expenditures in Quebec are refunded upon presentation of audited financial statements on year end reporting. The funds advanced to Alexis in 2006 will be repaid upon receipt of this rebate, normally received in July 2007. Investissement Quebec will charge a fee of 3% to provide the "Loan Guarantee". The Bank will advance funds against the "Loan Guarantee" at an interest rate of Prime plus 1%.

The arrangement is the first such business agreement in the mining industry in Quebec and allows Alexis to benefit from the Quebec Rebate System on a timely basis. The funds will be used in support of strategic business activities in 2006. Alexis will receive gross proceeds of $3.6 Million in the current year, with the balance of the rebate ($1.2 million) expected to be received in July 2007 and after closure of the "Loan Guarantee".

"This is very important support by Investissement Quebec and the AMCCB for Alexis and a new model for the mining industry in Quebec," said David M. Rigg, President and CEO of Alexis Minerals. "Alexis Minerals is following an aggressive exploration strategy in the Abitibi Region, supported by a clear financial strategy of which this is part. The Investissement Quebec facility, along with our recently closed Convertible Debenture financing (see Press Release: May 11, 2006) provides strategic capital support for the 2006 business plan. This plan supports Alexis's objective of achieving potential production and cash flow in 2007."

Alexis commenced the year with a strong cash position. Over the last 9 months, Alexis has advanced a financial strategy directed at generating additional funding to support continued aggressive exploration in the Abitibi region. This approach is providing Alexis the ability to realize the mineral potential of its' enviable property assets and will potentially place Alexis in a position to potentially generate significant cash flows during 2007. In addition to the $3.6 million "Loan Guarantee", the financial strategy includes:

- Short year end in 2005 to allow Quebec Tax rebates for the period August-December 2005, covering the initial part of underground exploration work at Lac Herbin, to be recoverable by July 2006. A cash rebate of $1.9 Million is expected from this source in July.

- Convertible debenture of $4.21 Million recently closed through Industry Alliance Securities Inc. (see Press Release: May 11, 2006).

During 2006, the company also received a cash rebate of $3.5 million in March 2006 from the Quebec Tax Rebates for the period August 2004 to July 2005 (see Press Release: March 15, 2006).

Alexis expenditures in 2006 are focused on:

- Purchase of the Aurbel gold mill and the remaining 50% property interests in the Aurbel Property, Val d'Or.

- Underground exploration, bulk sampling and feasibility studies at the Lac Herbin gold project in Val d'Or.

- Resource evaluation of the Lac Pelletier gold property in Rouyn and additional exploration to expand Resources.

- Continued aggressive exploration for base metals across the company's extensive Val d'Or and Rouyn-Noranda properties; including areas near the West Ansil base metal deposit in Rouyn-Noranda and the deep P6 Louvex target adjacent to the Louvicourt deposit in Val d'Or; and,

- Continued exploration towards successful earn-in on all remaining option agreements, principally with Falconbridge in Rouyn-Noranda and Aur Resources in Val d'Or.

The Alexis gold strategy focuses on advancing the Lac Herbin project towards a production decision by year end with potential production in 2007. Further development of the Lac Pelletier property would be the strategic route towards attaining total production from the two deposits at a combined production rate of 55,000 ounces gold per year by 2008 and processed through the company's Aurbel Mill.

Exploration drilling is continuing to follow a base metal strategy which focuses on new mine discovery. Two diamond drills are currently testing targets across properties in the Rouyn-Noranda area and a third drill was recently mobilized to further evaluate the highly-prospective, deep, P6 Louvex target in Val d'Or. A total 60,000 metres of diamond drilling on all targets is anticipated in 2006.

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 entered into a purchase agreement on 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.).

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".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.