Alexis Receives $3.5 Million In Quebec Exploration Rebates.TORONTO -- Alexis Minerals Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:AMC (Advanced Mezzanine Card) See AdvancedTCA. ) is pleased to announce that it has received an exploration rebate cheque from the Quebec Government worth $3.5 million. This amount reflects cash rebates in consideration for exploration expenditures incurred by Alexis on its Rouyn-Noranda and Val d'Or Val d'Or (väl dôr), town (1991 pop. 23,842), SW Que., Canada, SE of Rouyn-Noranda. It is a mining center. Gold was discovered in the region in 1909; copper, zinc, lead, and molybdenum are also mined. properties during the 2005 fiscal period. "We would like to thank the Quebec Government and The Ministry of Natural Resources and Fauna fauna All the species of animals found in a particular region, period, or special environment. Five faunal realms, based on terrestrial animal species, are generally recognized: Holarctic, including Nearactic (North America) and Paleartic (Eurasia and northern Africa); , Quebec, for their continued fiscal support of Alexis Minerals as it drives towards becoming one of the province's newest miners," said David M. Rigg. "Alexis believes that Quebec is one of the most favourable Canadian mining and exploration jurisdictions, offering of a wide range of fiscal support measures geared to accelerating the pace of exploration success. Our intent is to redirect re·di·rect tr.v. re·di·rect·ed, re·di·rect·ing, re·di·rects To change the direction or course of. n. A redirect examination. re this money back into our exploration activities throughout the remainder of 2006." Quebec currently offers industry-leading cash rebate incentives of 47% on exploration expenditures made on Quebec mineral properties. The incentive significantly reduces the inherent capital risks related to mineral exploration. The rebate improves the cash position of Alexis to $6.0 million and allows the company to continue its activities, debt-free. In addition to the current rebate, Alexis anticipates receiving a further cash rebate of $1.9 million in June-July 2006 and an additional $6.0 million in 2007. Alexis Minerals would also like to announce that it has changed its financial year-end from July 31 to December 31 of each year. The reason for the change is to allow the company to align its year end with that of its joint venture partners for reporting and planning purposes and to bring its financial reporting requirements in line with industry standards. Alexis Minerals Corporation is a Canadian exploration and development company listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Alexis holds a portfolio of properties covering approximately 212 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 1400 tonne per day Aurbel gold mill. The Company has also entered into option agreement with Falconbridge Limited (formerly Noranda Inc.) wherein Alexis will earn a 50% interest in all of Falconbridge's properties in the prospective Rouyn-Noranda base metal and gold camp, Quebec. The Falconbridge properties cover approximately 825 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
Statements in this release that are not historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 ad equacy or accuracy of this release. Alexis Minerals Corporation (TSX VENTURE:AMC) |
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