Standard & Poor's Initiates Factual Stock Report Coverage on Alexis Minerals Corporation

Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on Alexis Minerals Corporation.

Alexis Minerals Corporation (TSE: AMC, OTCQX: AXSMF), is a Canadian mining company engaged in the exploration, development and acquisition of mineral properties, directly and indirectly through joint ventures. 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. Val-d’Or and Rouyn-Noranda are both located in the Abitibi Mining District of Quebec, Canada. The company’s third property is located in Snow Lake, Manitoba. These locations are recognized as some of the world’s most prolific mining regions.

The company currently has 1,345,122 ounces of gold Resources (Measured, Indicated and Inferred). Proven and Probable Reserves total 264,128 ounces of gold.

Alexis undertakes exploration in two mining camps in Quebec, Val-d'Or (100% ownership of 212 square kilometers) and Rouyn-Noranda (50% ownership of 785 square kilometers and in joint venture with Xstrata Copper). In addition, the recent acquisition of Garson Gold Corp. has given Alexis a third project area located in the very prospective Snow Lake Mining Camp in Manitoba.

On January 22, 2010, Alexis Minerals announced that its bid to acquire Garson Gold Corp. has now resulted in over 95% of Garson shares being tendered to the offer. Alexis Minerals intends to initiate the required actions that will result in Alexis owning 100% of the Garson Gold common shares. Alexis will complete a feasibility study of the Snow Lake Mine (formerly the New Britannia Mine) in 2010 as well as exploration across the properties.

During the third quarter, Alexis announced a 156% increase in proven and probable reserves for its Lac Herbin gold mine in Val-d'Or, Quebec, as confirmed in an independent NI 43-101 technical report. Total proven and probable reserves have been evaluated at 617,374 tonnes at 7.36 g/t for a total of 146,007 ounces of gold. This result validated the minimum five-year mine life and the associated positive cash flow for the Lac Herbin Mine.

Additionally, Alexis has a second gold project underway with a bulk sample program at Lac Pelletier, in Rouyn-Noranda, Quebec. Proven and probable reserves there are estimated at 483,362t @7.60 g/t for 118,100 ounces of gold.

This report will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.alexisminerals.com for additional information.

About Standard & Poor's Factual Stock Reports

This Standard & Poor’s service provides factual research coverage enabling information about Alexis Minerals Corporation and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 500 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 10,000 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

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