MINERALS CORPORATION

65 QUEEN STREET WEST, SUITE 815

TORONTO, ONTARIO, M5H 2M5

For Immediate Release????????????????????????????????????????????????????????????????????? ?????????? ??????????? ???Press Release

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)

October 15, 2007 – 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 (*Cut Grades - See note in Table 1):

S1 Zone

?         20.63 (18.67 cut*) g Au/t over 2..2 m (LH03-049) including,

o        39.0 (34.28 cut*) g Au/t over 1.1 m

?         23.06 (10.99 cut*) g Au/t over 4.4 m (LH01-177)

New “HW2” ?Zone

?         65.92 (12.97 cut*) g Au/t over 1.9 m (LH03-036) including,

o        178.0 (34.28 cut*) 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*) 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 (Qu?bec).

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. ?

For Further Information Contact:

David Rigg, President and CEO ??????????? ?

Tel: 416-861-5889?????????????????????????????????????????????

Fax: 416-861-8165

Peter Cashin, Investor & Corporate Affairs??????? Louis Baribeau, Relationiste, Qu?bec

Tel: 416-861-5905????????????????????????????????????????????? Tel: 514-667-2304

Email: info@alexisminerals.com??? ???????????????? Website: www.alexisminerals.com

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