Alexis Intersects 21.2 Grams Gold Per Tonne Over 3.8 Meters On Hogg Showing, Cadillac Group Project, Val d'or Area, Quebec.

TORONTO -- Alexis Minerals Corporation (TSX VENTURE:AMC) has received positive results from its first drill hole on the Hogg Showing on the Cadillac Group Properties in Val d'Or Quebec. The hole intersected a broad alteration zone 45 m below surface containing a well mineralized section which has returned assays (uncut) of 21.2 grams gold per tonne (g/t Au) and 0.56% Copper (Cu) over 3.8 m, including a higher grade zone of 35.6 g/t Au and 0.81% Cu over 2.1 m. Mineralization lies down dip of the Hogg showing, Cadillac Group Properties, Val-d'Or, Quebec.

Cut grades over estimated true thickness of the intersection are 18.9 g/t Au over 3.2 m, including 31.4 g/t Au over 1.8 m respectively (gold values cut at 34.287 g/t Au).

Table 1 - Hogg Showing Assay results: Hole 17410-275
---------------------------------------------------------------------
From           To     Length  Gold (Au)  Copper (Cu)  Silver (Ag)
(m)            (m)     (m)     (g/t)        (%)           (g/t)
---------------------------------------------------------------------
66.0          69.8     3.8      21.2       0.56           12.59
---------------------------------------------------------------------
Including :
---------------------------------------------------------------------
66.0          66.5     0.5      5.28       0.59            10.7
---------------------------------------------------------------------
66.5          67.7     1.2      2.63       0.11             4.7
---------------------------------------------------------------------
67.7          68.5     0.8     45.20       1.57            24.8
---------------------------------------------------------------------
68.5          69.8     1.3     29.70       0.34            13.1
---------------------------------------------------------------------

Drilling has tested an eastern plunge for the higher grade zone of the Hogg Showing where previous surface channel sampling tested a 20-meter strike length of the Showing (see press release: September 28, 2004) and reported significant mineralization along the surface exposure. Previous Channel samples on the Hogg showing including intervals of:

343.00 g/t Au   and  1.68%Cu   over 1.0m,
15.55 g/t Au    and  0.47%Cu   over 1.1m,
25.85 g/t Au    and  0.75%Cu   over 2.0m (cut at 34.287 g/t Au)
7.69 g/t Au     and  0.26%Cu   over 1.0m,
261.00 g/t Au   and   0.43%Cu   over 0.9m,

Assays are pending on two holes drilled on strike of the intersection. Gold - Copper mineralization is associated with skarn-type alteration. Mineralization at the nearby East Sullivan deposit (Past production: 16.5 million tonnes grading 1.02% copper, 0.69% zinc, 10.46 g/t Ag and 0.33 g/t Au) is interpreted to occur in 23 skarn-type sulphide lenses ranging in size from 0.1 to 3.0 million tonnes. Lenses are oblate and elliptical in shape, elongate  down-plunge to the northeast. Diamond drilling is continuing with two machines down plunge of the Hogg showing and testing additional targets identified along a 12-km trend of Skarn-type alteration. This is the first time a "skarn-type exploration model" has been applied in the Abitibi Region.

The Hogg showing is located approximately 10 km southeast of the town of Val d'Or and 10 km south of the Lac Herbin project area (see attached map) where a new high grade gold zone was recently discovered (Lac Herbin Zone II, see press release October 28, 2004) approximately 2 km from the fully permitted, 1400 tonne per day Aurbel gold Mill. The map is also available on the Alexis Minerals web site at www.alexisminerals.com

The discoveries in the Val d'Or area complement the recently announced gold discovery on the Noralex property (Press release: September 16th, 2004), 10 km to the north east of the Doyon Mine, and the base metal Montbray discovery (Press release: November 12, 2004), 25 km west of Rouyn. Both of these areas lie in the Rouyn-Noranda Mining District and under option agreement with Noranda Inc., over 100 km to the west of Val d'Or.

Quality Control

The surface exploration program is supervised by Consulting Geologist Alain Carrier, M.Sc., P.Geo., Innovexplo inc. and Qualified Person under 43-101 guidelines. Representative channel samples were collected perpendicular to mapped structures in stripped and washed areas. Core samples are from NQ core, sawed in half and half core retained for reference. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicates for each batch of samples. Gold was determined by the metallic screen fire assay method. Assays were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec).

Alexis Minerals Corporation is a Canadian exploration and development company listed on the TSX Venture Exchange. Alexis holds a portfolio of properties covering approximately 270 square kilometers in the Val d'Or area and considered highly prospective for both gold and base metals. Alexis has a clear route to 100% ownership in the properties and maintains an option to purchase the Aurbel gold mill.The Company has also entered into option agreement with Noranda Inc. wherein Alexis will earn a 50% interest in all of Noranda's properties in the prospective Rouyn-Noranda base metal and gold camp, Quebec. The Noranda properties cover approximately 800 square kilometres in the Rouyn-Noranda area. Alexis completed a major financing with CIBC in July 2004 and is advancing an aggressive surface exploration program over these two prospective areas with 10 surface diamond drills.

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".

NOTE: There is a Map available on CCNMatthews website at: http://www2.cdn-news.com/database/fax/2000/Hoge1124.pdf

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

Alexis Minerals Corporation (TSX VENTURE:AMC)