1

Developing a Mid-Tier Gold

Mining Company

JULY 2010TSX: AMC OTCQX: AXSMF

2

DisclaimersFORWARD-LOOKING INFORMATION:This presentation contains certain “forward-looking information” under applicable securities laws concerning the proposed transaction and the business, operations and financial performance andcondition of the combined company, Alexis and Garson Gold. Forward-looking information includes, but is not limited to, statements with respect to estimated production and mine life of the variousmineral projects of Alexis and Garson Gold; synergies and financial impact of completed or proposed acquisitions; the benefits of the acquisitions and the development potential of the properties of Alexisand Garson Gold; the future price of gold; the estimation of mineral reserves and resources; the realization of mineral reserve estimates; the timing and amount of estimated future production; costs ofproduction; success of exploration activities; and currency exchange rate fluctuations. Forward-looking information may be characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,”“anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information is based on the opinions and estimates of managementat the date the statements are made, and are based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differmaterially from those projected in the forward-looking information. Assumptions upon which such forward-looking information is based include Alexis’ ability to successfully complete the Alexis offer forGarson Gold; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of mineralreserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; and general economicconditions. Many of these assumptions are based on factors and events that are not within the control of Alexis and there is no assurance they will prove to be correct. Factors that could cause actual resultsto vary materially from results anticipated by such forward-looking information includes changes in market conditions, variations in ore grade or recovery rates, fluctuating metal prices and currencyexchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant,equipment or processes to operate as anticipated, the business of the companies not being integrated successfully or such integration proving more difficult, time consuming or costly than expected as wellas those risk factors discussed or referred to in the annual Management’s Discussion and Analysis and Annual Information Form for each of Alexis and Garson Gold, as applicable, filed with the securitiesregulatory authorities in Canada and available at www.sedar.com. Although Alexis has attempted to identify important factors that could cause actual actions, events or results to differ materially fromthose described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Alexis undertakes no obligation to update forward-lookinginformation if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-lookinginformation. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking information to the extent they involve estimates of the mineralization thatwill be encountered if the property is developed. Comparative market information is as of a date prior to the date of this presentation.

IMPORTANT NOTICE:This presentation does not constitute an offer to buy or an invitation to sell, any of the securities of Alexis or Garson Gold. Such an offer may only be made pursuant to a registration statement andprospectus filed with the U.S. Securities and Exchange Commission and an offer to purchase and circular filed with Canadian securities regulatory authorities. Investors and security holders are urged to readthe offer and take-over bid circular, if any, and any other relevant documents filed with the SEC and Canadian securities regulators, regarding the proposed business combination transaction because theycontain important information. Investors may obtain a free copy of the offer and take-over bid circular and other documents filed by Alexis on SEDAR or on Alexis’ website at www.alexisminerals.com or bydirecting a request to Alexis’ investor relations department.

CAUTIONARY NOTE TO U.S. INVESTORS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES:This presentation uses the terms “Measured, “Indicated” and “Inferred” Resources. U.S. investors are advised that while such terms are recognized and required by Canadian regulations, the Securities andExchange Commission does not recognize them. “Inferred Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot beassumed that all or any part of an inferred resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economicstudies. U.S. investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.

NATIONAL INSTRUMENT 43-101:David Rigg, the President and CEO of the Company and a Qualified Person under NI 43-101, has read and approved the scientific and technical information in this presentation. This presentation containsinformation relating to a preliminary assessment that includes Inferred mineral resources which are considered too speculative geologically to have economic considerations applied to them that wouldenable them to be categorized as mineral reserves. There is no certainty that the preliminary assessment will be realized.

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Increasing Shareholder Value

Targeting “Mid-Tier Gold Production Status” in 2011 - 2012 Potential increase to over 150,000 ounces of gold per year

Decreasing cost per ounce – targeting C$577/oz.Au in 2012

Pipeline of Developing Mine Assets Production, Advanced Underground and Feasibility Stage Projects

Exploration Focused in Three World Class Mining Camps Val-d’Or, Rouyn-Noranda and Snow Lake

Focused on new discovery and Resource/Reserve growth

More than 60,000 m of surface drilling in 2010

Two Gold Mills Solid base for production from 3 mines

Solid base for additional acquisitions

Solid base for other business opportunities through Custom Milling

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Increasing Shareholder Value

Management Anticipate increased Share Price Valuations from:

Increased market awareness of mid-tier production status

Higher earnings

Greater production levels

Lower Cash costs

Higher valuation multiples

Re-rating among pier group as production levels are realized

Increasing Resources and Reserves

Resources have increased to M&I of 790,000 ounces gold with additional 551,000

oz.Au as Inferred in 2010

Increasingly higher valuations warranted

Blue sky valuation multiples from potential new mine discoveries

C$10 Million 2010 Exploration Program ongoing – 60,000 m of drilling

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World Renowned Locations - Québec and Manitoba

Quebec ranked #1 mining

jurisdiction in the world (1)

27% rebates on exploration

expenses

Manitoba ranked #9 mining

jurisdiction in the world (1)

& #2 in Canada

Excellent mineral potential

Significant low cost

infrastructure

Stable Mining Jurisdictions

TorontoCorporate Office

Rouyn-Noranda &Val-d’Or Mining Camps

Snow Lake Mining Camp

Winnipeg

1. Fraser Institute, 2009

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Resource / Reserve Status:

Snow Lake Feasibility Study has potential to significantly increase Reserves by >400,000 ounces gold

Exploration focused on Resources/Reserve growth in 2010 - 2012

RESERVES oz. Au

Proven (Herbin/ Pelletier only) 40,314

Probable (Herbin/ Pelletier only) 140,566

Total Proven and Probable 180,880

RESOURCES Measured

(M)

Indicated

(I)M + I Inferred

Lac Herbin 37,100 169,500 206,600 80,500

Lac Pelletier 16,041 61,331 77,372 112,899

Snow Lake 1,000 505,100 506,100 358,000

Total 54,141 735,931 790,072 551,399

Compliant NI 43-101 Technical Reports are available on SEDAR (www.sedar.com)

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Project Pipeline

1. Snow Lake Mine, Snow Lake Manitoba:

o Historic Production – 1.4 million oz. Au

o Preliminary Assessment estimates 90,000 oz. Au/ year; Feasibility complete Q3 2010

2. Lac Herbin, Val-d’Or, Quebec:

o Gold producing mine since 12/2008

o Cash flow generation @ 30,000 – 32,000 oz. Au/year

3. Lac Pelletier, Rouyn-Noranda, Quebec:

o Feasibility completed; awaiting production decision Q4, 2010

o Projected cash flow generation from approximately 30,000-35,000 oz. Au/year

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Targeting Annual Production of >150,000 oz. Au

Growing a Mid-Tier Production Profile through 2011

200

180

160

140

120

100

80

60

40

20

0

Annual

Production

(000 oz)

Lac Herbin

Current

Production

Snow Lake

Lac Pelletier

Potential Production:

Snow Lake + Lac Pelletier

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Snow Lake Mine - Highlights

Snow Lake Mine (formerly New Britannia Gold Mine), Manitoba:

Acquired in January 2010

M+I resources: 506,100 ounces of gold

Inferred resources: 358,000 ounces of gold

Fully-permitted and maintained Mill 2,150 tpd

Significant production potential > 90,000 oz.Au/yr

Historic production has exceeded 100,000 oz.Au/year as recently as 2002

Average gold recoveries of 92.2% from 1994-2005

Historic capital investment over $200 million:

Surface and underground infrastructure and facilities, including a 2150 TPD Mill

Upside Leverage:

Only modern precious metals milling facility in the region of Snow Lake

Potential for regional toll processing

Discovery Potential

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Snow Lake, Manitoba - Structural Control of Gold

No. 3 Zone Deposit

Snow Lake Mine

F2

F1

F4

Deposits located West of the ‘Threehouse

Synform’ (F3) – open to the East

Main Mine ore lenses are substantial:

5000’ (plunge length) x 1000’ (strike length)

x horizontal widths of 5’ to 120’

Million ounce gold potential per lens

48.4 sq. km. property hosts 2 known gold

deposits and more than 10 prospective

occurrences

Surface projection of Resource areas of No. 3 Zone and Main Mine

F3

McLeod Lake Thrust

N

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Overview of Deposits

Satellite deposits located

close to central gold mill

No. 3 Zone and Main Mine

are Resource areas with

near term production

potential

Boundary Zone has open-

pit potential and deeper

mineralized structures

Kim and Bounter Zones

remain largely under-

explored

All zones remain open at

depth

Snow Lake Mine, Manitoba Alexis Minerals Corporation

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Snow Lake Mine, ManitobaPreliminary Assessment of Main Mine & #3 Zone – Golder, February 2010

Capital Cost $33.8 M

Payback Period 2 yrs

Recoveries 92.2 %

Total Ounces Produced 423,000 oz.Au

Mine Life 6 years

Cash Cost (LOM) US$ 544/oz.Au

Cash Cost (LOM) CDN$ 74/tonne

Accumulated Cash Flow (Pre Tax) $163.8M (Bloomberg Price Deck)

* 3 year moving average historic

gold price

**Bloomberg Consensus US$ Gold

Prices: 2010 –$1127, 2011 – $1158;

2012 – $1128; 2013 – $1125; 2014 to

2017 – $850

Foreign Exchange: C$1.05 = US$1.00

*

**

PA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic consideration

applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PA will be realized. Mineral resources that

are not mineral reserves do not have demonstrated economic viability.

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Val-d’Or-Malartic Mining Camp (Historic Production)

0.7 Mt Cu, 0.7 Mt Zn, 27.2Moz Au, 50.0 Moz Ag

Dominant Land Position

Lac Pelletier Mine

Aurbel Gold Mill

Lac Herbin Mine

Agnico Eagle

Agnico Eagle

Iamgold

OsiskoAurizon

Rouyn-Noranda Mining Camp (Historic Production)

2.4 Mt Cu, 1.9 Mt Zn, 19.5 Moz Au, 94.4 Moz Ag

Rouyn-Noranda, Quebec

756 sq.km in 50/50 JV with Xstrata

100% Lac Pelletier Gold Project

Val-d’Or, Quebec

212 sq.km. 100%-owned by Alexis Minerals

100% Lac Herbin Mine – in production

Unique Property Packages in Two Prolific Mineral Districts

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Lac Herbin Gold Mine, Val-d’Or, Quebec

Production: 28,000 – 32,000 oz.Au/yr

Cash Costs: C$800/ozAu (Q3-Q4 2010)

Established Production Potential of 5

years or 180,000 - 200,000 oz.Au

Cash Costs: 2008 – C$774/ozAu

Lac Herbin - Annual Resource / Reserve Growth

and Gold Production

0

50,000

100,000

150,000

200,000

250,000

2006 2007 2008 2009

Ou

nces G

old

Inferred M&I P & P Production

Typical Val-d’Or

Vein Deposit

2 - 4 year Resource

which is replenished

annually by exploration

Mines typically start

small but have potential

for long production profiles

Aurbel 100 sq.km property has:

Blue Sky Potential of >1,000,000 oz.Au

Two nearby Past-producing Mines

explored to 350 metres depth

Several New Prospects and Targets

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Lac Pelletier – Feasibility Results

Feasibility* 4-Year Model*

Capital Cost $4.3 M C$6.5 M

Payback Period 1 yr 1 yr

Recoveries 96 % 96 %

Total Ounces Au Produced 33,500 131,270

Mine Life 1.5 yrs 4 years

Cash Cost: US$/oz.Au (C$/t) 746 (158) 746 (158)

Accumulated Cash Flow C$4.5 M C$24.0 M

IRR 61% 94%

NPV at 7% C$3.5 M C$18.1 M

Reserves / Resources

Proven and Probable Reserve (to 150-metres): 34,885 oz.Au

Measured and Indicated Resources (5.5 g.Au/T cut off) 77,372 oz.Au

Inferred Resources (5.5 g.Au/T cut off) 112,899 oz.Au

*Bloomberg Consensus US$ Gold Prices: 2010 – $1127; 2011 – $1158; 2012 – $1128; 2013 – $1125

*Foreign Exchange: C$1.05 = US$1.00

PA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic consideration

applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the PA will be realized. Mineral resources that

are not mineral reserves do not have demonstrated economic viability.

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Strategic Milling and Mine Assets

Aurbel Mill – Val-d’Or

1,400 tpd capacity, currently in production at 500 – 800 tpd

Processes ore from Lac Herbin, reducing costs by ~10%

Well-positioned for toll milling of nearby ore bodies

Snow Lake Mill – Manitoba

2,150 tpd capacity

Will operate at 70% - 80% capacity with Main Mine and #3 Zone in production

Only modern gold mill in area and close to new Lalor gold project

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Increasing Shareholder Value

Potential for > 150,000 oz. Au Annual Production

+

Potential for > 1,500,000 oz. Au Resources

+

Blue Sky Valuation from Mine Discoveries

Anticipate Significant Increased Share Price Valuation

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Upcoming Highlights and Milestones 2010 -20122010 2011 2012

Objective or Work Program Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Complete Scoping Study at Snow Lake Mine

Complete Garson/New Britannia Mine Acquisition

Complete Feasibility Study at Lac Pelletier

Complete Feasibility Study Snow Lake ●

Production Decision & Project Financing Snow

Lake ●

Potential Exploration Successes ● ● ● ● ● ● ● ● ● ● ●

Pre-Production Development Snow Lake ● ● ● ●

#3 Zone Production – Snow Lake ● ●

Main Mine Production – Snow Lake ● ●

Mid Tier Production Rate > 150,000 oz. Au

(Commercial/Full Production – Snow Lake &

Potential Production at Lac Pelletier)

● ● ● ●

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Valuation and Comparables

Company Ticker Last Close

EV/P&P

Gold Res.

EV/M&I

Gold Res.

2009A Gold

Production

(C$) (C$/oz) (C$/oz) (ozs) (ozs) (ozs)

RICHMONT MINES INC RIC.TO 4,790 264 191 59 727

WESDOME GOLD MINES LTD WDO.TO 2,500 2 239 438 96 150 NA

CLAUDE RESOURCES INC CRJ.TO 1,120 755 117 43 600 NA

ST ANDREW GOLDFIELDS LTD SAS.TO 1,190 572 324 18 838 550

METANOR RESOURCES INC MTO.V 0,610 NA 264 NA 460

LAKE SHORE GOLD CORP. LSG.TO 3,120 1 239 1 118 0 NA

KIRKLAND LAKE KGI.TO 8,100 351 206 48 000 600

CAPITAL GOLD CORP. CGC.TO 3,920 121 116 50 000 60 000 70 000 NA

SAN GOLD CORP. SGR.V 3,950 3 256 1 300 29 962 100 000 NA NA

TIMMINS GOLD CORP. TMM.V 1,410 318 217 0 90 000 100 000 412

Average 1 013 429 506

ALEXIS MINERALS CORP AMC.TO #REF! 267 59 30 400 83 862 117 618 774 576 636

2011E Gold

Production*

Canadian Junior Gold Producers

65 000

70 000

48 000

2010E Gold

Production

50 000

85 000

NA

55 000

110 000

95 000

120 000

670

550

500

600

699

456

NA

705

412

NA

504

338 338

515566

NA

2009A

Cash Costs

2010E

Cash Costs

(US$/oz)(US$/oz)

NA

2011E

Cash Costs*

(US$/oz)

790

NA

735

550 500

Sources: Industrial Alliance Securities, Bloomberg, Corporate filings of the above listed companies

* Alexis 2011E Gold production and cash costs are sensitized to exclude/include Lac Pelletier production

626

412

85 000

30 000

65 000

60 000

30 884

0.17

Alexis considered undervalued with potential for significant growth and share price appreciation

Alexis 2010-EV/P&P potentially drops from C$267/oz to C$83/oz should Snow Lake Feasibility Study confirm Provne and Probable Reserve of approx. 400,000 oz.Au

ALEXIS MINERALS CORP AMC.TO 0.16- 0.18 267 59 30,400 30884 55,000/150,000 C774 C850 C711/577

2011/2012 2011/2012

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New Public Issue of Units: C$12.5 M Syndicate: Industrial Alliance Securities Inc. NCP Northland Capital Partners Inc., Global Hunter Group

Issuer: Alexis Minerals Corporation (“Alexis” or the “Company”)

Offering: Best effort Public Offering of 69,444,444 Units through a short-form prospectus

Units: Each Unit will consist of one (1) common share (the “Common Shares”) of the Company and one-half of one common share purchase warrants (the “Warrants”). Each full Warrant entitles its holder to purchase one common share at a price of $0.40 for a period of thirty-six (36) months following the Closing Date.

Conversion: If, at any time commencing the 20th trading day after the Closing Date, weighted average trading price of the common shares is or exceeds $0.55 for a period of 20 consecutive trading days, the Company may accelerate the Warrant expiry date by giving prior notice to the holders of Warrants within ten business days immediately following such 20 trading day period and in such event, the Warrants, if unexercised, will expire on the 30th calendar day following the date on which such notice will be deemed to have been received by such holders of Warrants. The notice will be deemed to be received five days following its sending.

Issue Price: C$0.18 per Unit

Issue Size: Up to $12.5M

Over-Allotment Option: The Company has granted the Agent an option, exercisable at the Issue Price for a period of 30 days following the closing of this offering, to purchase Units for up to an additional 15% of the Issue Size to cover over-allotments, if any.

Use of Proceeds: Alexis intends to use the proceeds for feasibility studies and working capital purposes.

Form of Offering: Public offering by way of a short-form prospectus filed in all provinces and territories of Canada pursuant to available exemptions from registration. International sales as permitted.

Listing: AMC on the Toronto Stock Exchange (the “TSX”) and AXSMF on the OTCQX.

Eligibility: Eligible for Canadian RRSPs, RRIFs, RESPs and DPSPs.

Lead Agent: Industrial Alliance Securities Inc.

Closing: Week of August 2nd, or as agreed between the Company and the Agent.

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Performa Capital Structure*

Stock Exchange Listings: AMC (TSX)

Blue Sky USA: AXSMF (OTCQX)

Proforma

Outstanding: Issued 307.9 Million

Fully Diluted 398.2 Million

Share Price C$ 0.18

Market Cap: Basic C$ 55.4 Million

Fully Diluted C$ 71.7 Million

Average trading volume (60 day Avg.) 540,000 shares/day

Options & Warrants Outstanding 90.3 Million

Cash Generation fully diluted C$ 41.1 Million

Debt (Convertible Debentures) C$ 6.4 Million

*Assumes Offering fully subscribed for $12.5M

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Funds allocation:

Snow Lake feasibility study, and care and maintenance $2,500,000

Snow Lake advancement, including portal ramp refurbishment $4,000,000

Account payable settlement agreement $3,150,000

General corporate purposes and working capital $1,675,000

Impact:

Recapitalizes Alexis

Allows Alexis to advance its key investment programs over next 12 months

Resolves negative working capital position (developed in Q1 2010)

Strong focus on:

Developing the Snow Lake Mine and,

Growing the gold producing profile

Financing – Use of Funds