ALEXIS MINERALS CORPORATION (TSX:AMC)(OTCQX:AXSMF) announces that further to its previous disclosure, the Company issued a production commitment notice to Thundermin Resources Inc. prior to September 1, 2010 to exercise its option to acquire the Lac Pelletier Property, in accordance with the September 2005 option agreement between the Company and Thundermin and related amendments thereto.
The Company has been in discussion with Thundermin regarding the transfer of full title and ownership of the Lac Pelletier Property to the Company since the issuance of the production commitment notice. The Company has been advised that Thundermin intends to initiate an arbitration pursuant to the Option Agreement in the absence of a resolution to this matter.
Alexis continues work on the Lac Pelletier Property and believes that it has duly exercised its option under the Option Agreement. Alexis is fully prepared to defend its rights in respect of the Lac Pelletier Property through the arbitral process.
Source: ALEXIS MINERALS CORPORATION