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Alexis Advances Gold Bulk Sample at Lac Herbin-Exploration Identifies New Gold Zone Returning Up to 65.9 G Au/T Over 1.9 Metres (1.92 Ounces Over 6.2 Feet)

Posted on: Monday, 15 October 2007, 09:00 CDT

Alexis Minerals Corporation (TSX: AMC) is pleased to announce that the Lac Herbin underground exploration program has advanced, on schedule, to its final stage of stope development for a proposed 10,000 ounce gold bulk sample during 2007. Ongoing exploration results have also provided significant encouragement towards expanding the gold Resources on the property with the discovery of a new gold zone and continuing positive results from the known zones. The project is located 10 km northeast of Val d'Or, Quebec.

Phase 4 development on the 150-, 170-, 220- and 250- metre (m) levels continues to demonstrate excellent strike and vertical continuity to mineralization. Excellent chip and muck sampling grades have been returned and drifting is continuing along the principal zones. To date, 20,000 tonnes of a bulk sample of up to 50,000 tonnes has been extracted and is stockpiled at surface. The program will now focus on providing an additional 30,000 tonnes of ore from mining of two areas in the S1 and HW zones by long-hole stoping; and one area by room and pillar mining in a flat-swarm zone. Material will be shipped for custom milling at the nearby Camflo Mill upon completion of a new, permanent bridge on the site access road over the Bourlamaque River. Bridge construction is advanced and will be completed within the next 10 days, providing easy road access for loaded 40 ton haulage trucks.

Exploration diamond drilling of the deposit has continued with three machines and continues to expand all gold zones. A new zone, the HW2 zone, was recently discovered between the most northerly Lac Herbin (LH) Zone and the principal S1 Zone. Drilling has so far traced the HW2 from the 175-m level to depths of 400 metres below surface and over a known strike length of 300 metres. Additional drilling, especially at depth, is required to properly evaluate the economic potential of this mineralization.

Highlights from on-going underground exploration drilling (see Table 1) include the following new intersections ((i)Cut Grades - See note in Table 1):

 S1 Zone          - 20.63 (18.67 cut(i)) g Au/t over 2.2 m (LH03-049) including,            -- 39.0 (34.28 cut(i)) g Au/t over 1.1 m          - 23.06 (10.99 cut(i)) g Au/t over 4.4 m (LH01-177) New "HW2" Zone          - 65.92 (12.97 cut(i)) g Au/t over 1.9 m (LH03-036) including,            -- 178.0 (34.28 cut(i)) g Au/t over 0.7 m          - 12.72 g Au/t over 2.8 m (LH03-026) HW Zone          - 14.57 (12.06 cut(i)) g Au/t over 4.7 m (LH01-178) 

Assays from 22 additional drill holes are pending at the laboratory. Additional assay results will be released as appropriate.

"Underground exploration continues to confirm excellent lateral continuity of mineralization in shear-vein systems at Lac Herbin and is providing very good confidence in the viability of the Lac Herbin project," said David Rigg, President and CEO of Alexis Minerals. "The Phase IV development program has to-date focused on five zones of gold mineralization intersected in earlier surface and underground drilling programs. New zones continue to be discovered as we advance delineation of the known resource and follow mineralization to depth. Delineation of the S1, HW and Deep South (S3) zones is nearing completion down to 300 to 400 metre depths. We are very encouraged about the long term viability of the deposit with all zones remaining open below the current depth limit of drilling. The project will now proceed to the final phase of bulk sampling."

New "HW2" Zone Exploration Results

The HW2 is a new zone of gold mineralization between the most northerly Lac Herbin (LH) Zone and the principal S1 Zone. Drilling has so far traced the HW2 from the 175-m level to depths of 400 metres below surface and over a known strike length of 300 metres. The best grades of mineralization occur along the intersection of the HW2 with the mineralized WE shear, a junction which plunges towards the west. Additional drilling, especially at depth, is required to properly evaluate the economic potential of this mineralization. HW2 parallels the principal S1 and S3 ore zones and appears to be strengthening to depth, at the current limit of underground drilling.

Phase IV Underground Program Update

A total of 1,940 m of development has been completed during phase 4. 450 m of this was ore development and 1,500 m was waste development to access mine areas and provide suitable drill stations. Work underground continues with development of the HW, HW2 and S1 Zone at the 250 m level. An underground access way for the principal mine vent raise is also nearing completion. Current work is focused on mine infrastructure to support test-stoping including an additional settling pond, an acid-addition system for mine water to control ammonia levels and alkaline mine water discharge, a pumping station, a mine refuge station and additional underground powder magazines. An important bridge upgrade over the Bourlamaque River is also nearing completion which will facilitate transportation of ore from the bulk sample to the Camflo Mill for custom milling and give unrestricted future access to the 1400 tpd Aurbel Gold Mill. Construction of a Mine warehouse is also in progress.

Bulk sampling of the principal zones at Lac Herbin is on schedule to start before the end of October. A total of 30,000 tonnes of mineralization will be extracted from the S1 West, HW and "Flat Swarm" zones. A total of 20,000 tonnes of material is currently on surface from the development in ore on the various zones during the Phase IV underground program. Ore haulage to the custom mill is expected to commence within the next two weeks.

The Certificate of Authorization from the Ministry of Environment and Sustainable Development is in place. The Lac Herbin mine restoration plan has also been accepted by the Quebec Environment Ministry.

Quality Control

The Lac Herbin underground exploration program is supervised by Mr. Olivier Grondin, P.Geo., and Phase IV development is supervised by Patrick Sevigny, P.Eng., Qualified Persons as defined under NI 43-101 guidelines. Assay samples are taken from underground drill core sawed in half with one half sent to a commercial laboratory and other half retained for future reference. Chip samples are taken evenly across and perpendicular to, the sampled structure. Muck samples are of blasted material up to 10 cm in diameter with no selectivity in sampling. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Analyses were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec).

The content of this press release has been reviewed by the respective Qualified Persons.

About Alexis Minerals

Alexis Minerals Corporation is a Canadian exploration and development company listed on the Toronto Stock Exchange. Alexis holds an outstanding portfolio of properties covering the Val-d'Or and Rouyn-Noranda Mining Camps in Quebec. Alexis is following strategic exploration approaches across these properties for both gold and base metals, with a focus on the potential for gold production from the 100%-owned Lac Herbin and Lac Pelletier deposits during 2007 - 2008. Alexis has the right to earn-in into a 100% interest in the Lac Pelletier property. Alexis has a clear route to 100% ownership of all interests of Aur Resources on approximately 212 square kilometres of the Val-d'Or Mining Camp. Alexis owns the 1400 tonne per day Aurbel gold mill and holds a 100%-interest in the Aurbel property. The Company is also currently advancing towards a 50% interest in 825 square kilometres of the Rouyn-Noranda Mining Camp in JV with Xstrata Copper Canada (formerly Falconbridge Ltd.). Three (3) underground drills and two (2) surface drills are currently active in Val-d'Or and two surface drills are expected to recommence drilling on Rouyn-Noranda properties very shortly.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the applicable securities laws. 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".

 Table 1 - Underground Diamond Drilling Results - Lac Herbin Project,  Val-d'Or, Quebec ---------------------------------------------------------------------------                                   Core              Uncut       Cut   True                                 Length              Grade     Grade  Width Hole No.    From   -    To (m)      (m)    Zone   (g Au/t)  (g Au/t)    (m) --------------------------------------------------------------------------- LH03-010      12   -     13.2      1.2       BZ       0.7             1.00 --------------------------------------------------------------------------- LH01-178   136.4   -    137.6      1.2       BZ      18.3             1.20 --------------------------------------------------------------------------- LH03-007    10.7   -     11.4      0.7       BZ     11.15             0.50 --------------------------------------------------------------------------- LH03-009    10.4   -     11.4        1       BZ      0.93             1.00 --------------------------------------------------------------------------- LH03-021    18.8   -     19.7      0.9       BZ     41.80     34.28   0.80 --------------------------------------------------------------------------- LH03-022    17.8   -     18.6      0.8       BZ        LV             0.80 --------------------------------------------------------------------------- LH03-023    16.9   -     17.3      0.4       BZ      1.19             0.40 --------------------------------------------------------------------------- LH03-024    17.4   -     18.1      0.7       BZ        LV             0.70 --------------------------------------------------------------------------- LH03-025    26.4   -       27      0.6       BZ        LV             0.50 --------------------------------------------------------------------------- LH03-026    20.2   -     20.8      0.6       BZ      1.38             0.50 --------------------------------------------------------------------------- LH03-027    15.5   -     16.5        1       BZ       0.2             1.00 --------------------------------------------------------------------------- LH03-028    13.9   -     14.3      0.4       BZ        LV             0.40 --------------------------------------------------------------------------- LH03-029      33   -     34.3      1.3       BZ    125.50     34.25   1.00 --------------------------------------------------------------------------- LH03-030      13   -     13.8      0.8       BZ      0.56             0.80 --------------------------------------------------------------------------- LH03-031    15.1   -     15.9      0.8       BZ       4.4             0.50 --------------------------------------------------------------------------- LH03-034    10.7   -       12      1.3       BZ        LV             1.30 --------------------------------------------------------------------------- LH03-035     9.6   -     10.4      0.8       BZ      12.9             0.80 --------------------------------------------------------------------------- LH03-036    13.4   -     14.7      1.3       BZ      8.68             1.00 --------------------------------------------------------------------------- LH03-041    77.4   -     81.7      4.3     Dyke        LV             3.00 --------------------------------------------------------------------------- LH01-169   120.5   -    122.8      2.3     Dyke        LV             2.00 --------------------------------------------------------------------------- LH01-171   108.9   -    111.9        3     Dyke      0.88             2.00 --------------------------------------------------------------------------- LH01-173   142.3   -    143.9      1.6     Dyke        LV             1.00 --------------------------------------------------------------------------- LH01-174    89.9   -     90.5      0.6     Dyke        LV             0.50 --------------------------------------------------------------------------- LH01-177   124.3   -    125.1      0.8     Dyke      0.84             0.40 --------------------------------------------------------------------------- LH01-178   102.1   -    104.8      2.7     Dyke        LV             2.50 --------------------------------------------------------------------------- LH01-180  106.45   -    107.7     1.25     Dyke      2.16             1.00 --------------------------------------------------------------------------- LH03-042      58   -       64        6     Dyke        LV             4.00 --------------------------------------------------------------------------- LH03-043    48.1   -     51.5      3.4     Dyke        LV             3.00 --------------------------------------------------------------------------- LH03-044    42.9   -     45.5      2.6     Dyke        LV             2.60 --------------------------------------------------------------------------- LH03-045    39.7   -    43.65     3.95     Dyke      0.68             3.95 --------------------------------------------------------------------------- LH01-165   443.3   -    445.5      2.2     FERD        LV             2.20 --------------------------------------------------------------------------- LH01-166   296.2   -    297.7      1.5     FERD        LV             1.50 --------------------------------------------------------------------------- LH01-167   285.3   -    290.5      5.2       HW      3.64             2.00 --------------------------------------------------------------------------- LH01-178      41   -     45.7      4.7       HW     14.57     12.06   4.00 --------------------------------------------------------------------------- LH01-179    38.5   -       42      3.5       HW      0.26             3.50 --------------------------------------------------------------------------- LH01-184    36.4   -     39.1      2.7       HW        LV             2.70 --------------------------------------------------------------------------- LH01-183    41.4   -     44.5      3.1       HW      1.25             2.50 --------------------------------------------------------------------------- LH01-186    45.5   -     47.6      2.1       HW      0.23             1.60 --------------------------------------------------------------------------- LH01-187A   54.8   -     56.6      1.8       HW        LV             1.10 --------------------------------------------------------------------------- LH01-185    43.6   -       50      6.4       HW        LV             5.30 --------------------------------------------------------------------------- LH01-198    52.6   -     55.7      3.1       HW        LV             2.30 --------------------------------------------------------------------------- LH01-197    39.8   -       42      2.2       HW        LV             2.10 --------------------------------------------------------------------------- LH01-196    49.2   -     51.8      2.6       HW      0.49             1.60 --------------------------------------------------------------------------- LH01-195    41.1   -     45.3      4.2       HW       0.1             3.00 --------------------------------------------------------------------------- LH01-181    48.2   -     54.9      6.7       HW      3.24             3.10 --------------------------------------------------------------------------- LH01-180    58.4   -     67.4        9       HW      0.95             6.00 --------------------------------------------------------------------------- LH01-182    56.2   -       60      3.8       HW      0.67             1.70 --------------------------------------------------------------------------- LH01-194    59.7   -     64.9      5.2       HW      1.79             4.00 --------------------------------------------------------------------------- LH02-131   306.4   -    309.9      3.5      HW2      3.04             2.50 --------------------------------------------------------------------------- LH02-136   304.3   -    307.7      3.4      HW2      1.91             2.50 --------------------------------------------------------------------------- LH02-137   258.7   -    263.7        5      HW2      0.33             3.70 --------------------------------------------------------------------------- LH02-135   397.1   -    399.9      2.8      HW2        LV             1.50 --------------------------------------------------------------------------- LH03-010    33.8   -     36.8        3      HW2        LV             1.50 --------------------------------------------------------------------------- LH03-013    25.7   -     28.1      2.4      HW2        LV             2.40 --------------------------------------------------------------------------- LH03-014      39   -     42.3      3.3      HW2        LV             2.00 --------------------------------------------------------------------------- LH03-016      24   -     26.7      2.7      HW2        LV             2.70 --------------------------------------------------------------------------- LH03-009    29.4   -     31.6      2.2      HW2        LV             2.20 --------------------------------------------------------------------------- LH03-015    65.4   -     66.3      0.9      HW2        LV             0.90 --------------------------------------------------------------------------- LH03-007    38.3   -     42.5      4.2      HW2      0.32             3.50 --------------------------------------------------------------------------- LH03-026    51.9   -     54.7      2.8      HW2     12.72             2.00 ---------------------------------------------------------------------------  including  52.3   -     53.5      1.2               29.4             0.86 --------------------------------------------------------------------------- LH03-021    41.3   -     45.7      4.4      HW2        LV             4.00 --------------------------------------------------------------------------- LH03-022      39   -       40        1      HW2        LV             0.80 --------------------------------------------------------------------------- LH03-028    28.6   -       32      3.4      HW2        LV             3.40 --------------------------------------------------------------------------- LH03-023    36.9   -     37.9        1      HW2        LV             0.70 --------------------------------------------------------------------------- LH03-024    33.5   -     35.8      2.3      HW2      0.37             2.30 --------------------------------------------------------------------------- LH03-025    49.3   -       53      3.7      HW2        LV             3.50 --------------------------------------------------------------------------- LH03-029    91.5   -       98      6.5      HW2       0.2             2.00 --------------------------------------------------------------------------- LH03-036    47.9   -     49.8      1.9      HW2     65.92    12.97    1.50 ---------------------------------------------------------------------------  including  47.9   -     48.6      0.7             178.00    34.28    0.55 --------------------------------------------------------------------------- LH03-031    41.3   -       42      0.7      HW2        LV             0.50 --------------------------------------------------------------------------- LH03-032      61   -       63        2      HW2      0.66             1.50 --------------------------------------------------------------------------- LH03-035    32.4   -     35.4        3      HW2        LV             3.00 --------------------------------------------------------------------------- LH03-030    41.7   -     43.7        2      HW2        LV             2.00 --------------------------------------------------------------------------- LH03-034    34.6   -     39.4      4.8      HW2        LV             4.50 --------------------------------------------------------------------------- LH03-041      30   -    31.45     1.45      HW2      2.65             1.20 --------------------------------------------------------------------------- LH03-042   24.55   -    25.55        1      HW2      3.21             1.00 --------------------------------------------------------------------------- LH03-043    18.6   -       21      2.4      HW2      0.34             2.40 --------------------------------------------------------------------------- LH03-044    16.7   -     18.7        2      HW2        LV             2.00 --------------------------------------------------------------------------- LH03-045      35   -     36.9      1.9      HW2        LV             1.90 --------------------------------------------------------------------------- LH02-185  270.55   -    272.4     1.85      HW2        LV             1.50 --------------------------------------------------------------------------- LH02-186  274.15   -    276.6     2.45      HW2      6.09             2.00 --------------------------------------------------------------------------- LH01-182      52   -     54.4      2.4    HW-BR      0.29             1.30 --------------------------------------------------------------------------- LH02-186     176   -    182.2      6.2    HW-BR      0.16             5.50 --------------------------------------------------------------------------- LH01-181    42.3   -     43.6      1.3    HW-BR        LV             1.00 --------------------------------------------------------------------------- LH01-180    44.1   -     46.4      2.3    HW-BR      0.05             1.70 --------------------------------------------------------------------------- LH03-013      75   -     81.2      6.2       LH      0.44             6.20 --------------------------------------------------------------------------- LH03-016    82.1   -     83.9      1.8       LH        LV             1.80 --------------------------------------------------------------------------- LH03-009    93.1   -     96.4      3.3       LH        LV             3.30 --------------------------------------------------------------------------- LH03-021   135.9   -    140.1      4.2       LH      0.71             4.00 --------------------------------------------------------------------------- LH03-022   125.6   -    130.1      4.5       LH      5.12             4.00 --------------------------------------------------------------------------- LH03-028     107   -    108.3      1.3       LH      2.13             1.30 --------------------------------------------------------------------------- LH03-023   117.4   -    123.1      5.7       LH      0.21             5.70 --------------------------------------------------------------------------- LH03-024     118   -    119.5      1.5       LH      2.74             1.50 --------------------------------------------------------------------------- LH03-045    95.2   -     96.4      1.2       LH      0.63             1.20 --------------------------------------------------------------------------- LH02-178   245.7   -    257.5     11.8       S1        LV             7.00 --------------------------------------------------------------------------- LH02-186   143.6   -      147      3.4       S1      1.25             3.40 --------------------------------------------------------------------------- LH01-175      47   -     47.7      0.7       S1        LV             0.70 --------------------------------------------------------------------------- LH02-187   192.3   -    195.9      3.6       S1        LV             3.00 --------------------------------------------------------------------------- LH01-176      67   -     67.8      0.8       S1        LV             0.50 --------------------------------------------------------------------------- LH01-177   104.6   -      109      4.4       S1     23.06     10.99   2.20 --------------------------------------------------------------------------- LH02-188   228.6   -    231.6        3       S1      8.88             1.80 ---------------------------------------------------------------------------  including 230.6   -    231.6        1               26.1             0.60 --------------------------------------------------------------------------- LH02-208   325.6   -    327.2      1.6       S1     11.89             1.60 --------------------------------------------------------------------------- LH03-047    45.8   -     49.4      3.6       S1      4.59             2.00 --------------------------------------------------------------------------- LH03-046    27.5   -     29.6      2.1       S1       0.3             2.10 --------------------------------------------------------------------------- LH03-049    37.7   -     39.9      2.2       S1     20.63     18.67    1.8 ---------------------------------------------------------------------------  including  38.8   -     39.9      1.1              39.00     34.28    0.9 --------------------------------------------------------------------------- LH03-001   27.00   -    29.00     2.00       S1      3.54             1.80 ---------------------------------------------------------------------------  including 27.00   -    27.90     0.90               7.83             0.80 --------------------------------------------------------------------------- LH02-211     339   -    341.4      2.4       S1      9.94              2.2 ---------------------------------------------------------------------------  including   339   -    340.5      1.5       S1      14.2              1.4 --------------------------------------------------------------------------- LH02-178   185.5   -    188.7      3.2       S2      1.94             3.00 --------------------------------------------------------------------------- LH02-208   313.2   -    315.5      2.3       S2      0.16             1.60 --------------------------------------------------------------------------- LH02-187   122.9   -    124.4      1.5      S2?        LV             1.00 --------------------------------------------------------------------------- LH02-188   171.8   -    175.3      3.5      S2?        LV             3.00 --------------------------------------------------------------------------- LH02-188   194.9   -    204.4      9.5    S2BR?        LV             6.30 --------------------------------------------------------------------------- LH01-165   106.1   -    109.1        3       S3        LV             3.00 --------------------------------------------------------------------------- LH01-166    20.3   -       21      0.7       S3      2.17             0.70 --------------------------------------------------------------------------- LH03-003   243.4   -    247.5      4.1       S3        LV             3.00 --------------------------------------------------------------------------- LH02-153     216   -    223.5      7.5       S3      5.15             3.50 ---------------------------------------------------------------------------  including 216.5   -    217.6      1.1       S3      25.7             0.51 --------------------------------------------------------------------------- LH02-154   123.6   -      128      4.4       S3       5.1             2.50 --------------------------------------------------------------------------- LH02-155   106.5   -      111      4.5       S3      0.56             3.00 --------------------------------------------------------------------------- LH02-157      57   -       69       12       S3      1.18             8.00 --------------------------------------------------------------------------- LH03-005A  213.5   -    216.7      3.2       S3        LV             2.00 --------------------------------------------------------------------------- LH02-185     3.9   -     11.7      7.8       S3        LV             7.80 --------------------------------------------------------------------------- LH02-178      15   -     22.1      7.1       S3        LV             2.00 --------------------------------------------------------------------------- LH02-186     0.3   -      2.9      2.6       S3        LV             2.60 --------------------------------------------------------------------------- LH02-206   212.8   -    215.8        3       S3      0.15             3.00 --------------------------------------------------------------------------- LH02-207   214.8   -    217.6      2.8       S3      0.29             2.50 --------------------------------------------------------------------------- LH02-208     216   -    218.1      2.1       S3        LV             2.00 --------------------------------------------------------------------------- LH02-209   233.3   -    239.6      6.3       S3      5.41             4.50 --------------------------------------------------------------------------- LH02-210     218   -    220.2      2.2       S3      2.13             2.20 --------------------------------------------------------------------------- LH03-008    36.8   -     39.2      2.4       WE       0.5             2.00 --------------------------------------------------------------------------- LH03-018    20.7   -     25.9      5.2       WE      0.94             4.00 --------------------------------------------------------------------------- LH03-037    35.7   -     38.7        3       WE       1.7             3.00 --------------------------------------------------------------------------- LH03-038     6.9   -      7.9        1       WE        LV             1.00 --------------------------------------------------------------------------- LH03-039     8.4   -     12.8      4.4       WE        LV             3.00 --------------------------------------------------------------------------- LH03-033    22.5   -       27      4.5       WE      0.88             3.00 --------------------------------------------------------------------------- LH04-004    25.2   -     27.1      1.9       WE      0.66             1.90 --------------------------------------------------------------------------- LH04-003    25.4   -    26.75     1.35       WE        LV             1.40 --------------------------------------------------------------------------- LH04-003A   25.4   -     26.8      1.4       WE        LV             1.40 --------------------------------------------------------------------------- Notes: (i)Cut Grade- all assays in excess of 34.28 gAu/t are cut conservatively to 34.28 gAu/t (or 1.0 troy ounce/tonne), a common industry practice. Cutting factors at Lac Herbin have been based on statistical results of the bulk sampling and test milling program completed in November 2006 and reported in January 2007 (see Press Release: January 16, 2007). LV equals Low Values QT equals Quartz Tourmaline VG equals Visible native Gold 

 Contacts: Alexis Minerals Corporation David Rigg President and CEO (416) 861-5889 (416) 861-8165 (FAX)  Alexis Minerals Corporation Peter Cashin Investor & Corporate Affairs (416) 861-5905 Email: info@alexisminerals.com  Alexis Minerals Corporation Louis Baribeau Relationiste, Quebec (514) 667-2304 Website: www.alexisminerals.com

SOURCE: Alexis Minerals Corporation

Source: MARKET WIRE

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