Alexis Intersects New High Grade Zone 'Zone II' at Lac Herbin Including an Intersection of 63.6 Grams Per Tonne of Gold Over 3.6 Meters.

TORONTO -- - LAC HERBIN RESOURCES EXPANDING

Alexis Minerals Corporation (TSX Venture Exchange:AMC) is pleased to report the discovery of a new high-grade zone in the Lac Herbin area, Val d'Or, Quebec. 7,900 meters of drilling has been completed to date in a Phase II program to test extensions of known mineralization and parallel structures to the Lac Herbin Zone. Phase 1 drilling earlier this year established an Inferred Resource of 670,000 tonnes at 6.38 gram per tonne (see press release dated August 12, 2004) principally focused on the Lac Herbin Zone (Zone 1). Intersections in the new zone (Zone II) range up to 63.6 grams per tonne of gold (gAu/T) over 3.6 meters (m) (Hole 38), 20.8 gAu/T over 2.8 m (Hole 38), and 18.85 gAu/T over 1.7 m (Hole 45). The Lac Herbin area is located 1800 meters from the Aurbel gold mill, a fully permitted mill capable of processing 1400 metric tonnes (T) per day and under care and maintenance.

Table 1. Diamond Drill Results - Zone 2: S1 and West E Shears
         Phase II Program, Lac Herbin

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  Hole    From      To   Length (a)  Grade  Cut Grade (b)     Host
           (m)     (m)     (m)       gAu/T     gAu/T        Structure
---------------------------------------------------------------------
  38     302.8   306.4    3.6        63.6      23.00            S1
  38       329   331.8    2.8        20.8       9.71        West E
  40     154.1   158.8    4.7        3.85       3.85     S1/West E
  41     260.1   263.4    3.4        6.37       6.37            S1
  42     324.2   325.6    1.4        3.91       3.91            S1
  45       374   375.7    1.7       18.85      18.85            S1

 (a)True Widths are 80 to 100% of Core Length
 (b)Gold assays cut to 34.2 gAu/T (1.0 oz.Au/t)

The new zone lies within the "S1 shear", 150 meters southwest of the parallel Lac Herbin Zone. The new Zone II is centered approximately 250m below surface and remains open at depth and to the west. Mineralization has a minimum strike length of over 160m and dip length of 160 meters.

David Rigg, President, stated: "The discovery of the new Zone II confirms the potential to expand resources in the immediate area. Strong gold-bearing vein systems are now confirmed along several, moderately-dipping (West E, HW) and steeply-dipping Lac Herbin, S1, S2, S3) shear zones. Mineralization is best developed along, or near to, the intersections of these structures. Additional new targets are recognized below Zone II and further south towards the past-producing Dumont mine (Production 1979 to 1994 of 1.2MT grading 6.07 gAu/T). These new targets remain untested."

New gold-bearing lenses:

A total of 14 holes were drilled in Phase II to explore parallel S1 and S3 structures, 150 to 300 meters southwest of the Lac Herbin Zone 1. Hole 40 was drilled on the S1 shear 250 meters to the east of Zone II and confirms continuity of mineralization between holes 16: 5.33 gAu/T over 10.6m and 17: 5.91 gAu/T over 2.2m returned during the Phase I program. This area represents a second lens 250 meters to the east of the new high-grade lens.

Other new gold zones

Mineralization was also intersected in the S3 shear and additional, previously unknown structures further to the south, Table 2. The S3 shear lies to the south of S1 and remains virtually unexplored.

Table 2. Diamond Drill Results - S3, HW and Other Zones
         - Phase II Program, Lac Herbin

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   Hole       From      To     Length     Grade             Host
              (m)      (m)      (m)       gAu/T        Structure
---------------------------------------------------------------------
   31        229.9    231.1     1.2        3.13               HW
   33        166.6    167.5     0.9        5.20        Unknown Shear
   36        177.7    178.5     0.8        4.46               HW
   37        318.2    325.0     2.9        3.06               HW
   41        106.7    108.2     1.5        3.48             S3 Br
   41        128.0    131.9     3.9        3.22               S3
   42        178.5    180.0     1.5        9.60               S3
   42        367.0    368.5     1.5       20.50        Unknown Shear
   44        224.7    231.3     6.6        4.40             S3 Br
Including:   224.7    227.3     2.6        9.89             S3 Br
   44        257.8    259.3     1.5       11.25             S3
   47        308.0    308.9     0.9        3.26           West E

Tensional gold-bearing Veins

In addition to, and distinct from, the shear hosted veins of the principal shears, tensional veins continue to be encountered throughout the area of drilling. Current drill spacing is not sufficiently detailed to provide an assessment of their potential, however a summary of higher-grade intersections in the tensional vein setting is provided in Table 3 from Phase II and Phase I drilling programs. These intersection are not evaluated in the Inferred Resource.

Table 3. Diamond Drill Results - Tensional Vein Intersections
         above 5.0 gAu/T

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   Hole          From       To       Length      Uncut Grade
                  (m)       (m)        (m)          gAu/T
---------------------------------------------------------------------

PHASE II
--------
   31            290.5      291        0.5           92.0
   33               93     93.8        0.8          13.05
   37            299.5    300.3        0.8           5.14
   37            302.7    304.2        1.5           5.54
   41            209.9    210.6        0.7           50.3

PHASE I
-------
   3               229    229.8        0.8          14.83
   3             427.8    428.7        0.9          84.32
   6              69.7     70.2        0.5           6.48
  08A            194.3    194.9        0.6           31.2
  08A            251.6    252.1        0.5           11.2
  16             120.4      121        0.6           46.2
  16               340    340.5        0.5          19.35
  20             331.3    331.9        0.6           33.7

Extensions to the Lac Herbin Zone

An additional 8 holes of the Phase II program tested the eastward and westward extension of the Lac Herbin Shear zone. Five holes were drilled between Lac Herbin and the Ferderber Mine (Production 1979 to 1994 of 1.6MT grading 6.99 gAu/T) confirming the continuation of the Lac Herbin structure over a strike length of more than 1km to the east. The best reported value was 4.46 gAu/T across 0.8m (Hole 36) and is considered demonstration of the potential for future discovery along this trend. The westward continuation of the Lac Herbin shear was also confirmed in three widely spaced holes but no significant mineralization was encountered.

A revised resource estimate will be completed and an initial scoping study advanced. Additional exploration drilling of Phase II will be undertaken upon completion of the structural study, evaluation of additional targets beneath and south of Zone II and in coordination with programs to further evaluate the Resources.

Quality Control

Drilling is supervised by Consulting Geologist R. Roy, P.Geo. and Qualified Person under National Instrument 43-101 guidelines. Assay samples are taken from drill core (BQ size) sawed in half with one half sent to a commercial laboratory and other half retained for future reference. A strict QAQC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. Significant assay results are duplicated at the original laboratory. The gold assaying method uses a 50-gram sample Fire Assay (atomic absorption with gravimetric finish for sample over 1 g/t Au) on splits from an initial 1kg pulverized sample. Assays were performed by ALS Chemex - Chimitec of Val-d'Or (Quebec). Metallic screen fire assay are completed on samples with visible gold or where initial multiple duplicates show any variability. Re-interpretation of the structures within the Lac Herbin area is ongoing and will establish the true widths of intersections. True widths are estimated to be between 80 and 100% of core length.

Alexis Minerals is a leading exploration company with many key gold and base metal properties in the mineral rich areas of Rouyn-Noranda and Val d'Or. Alexis Minerals is earning a 50% interest over three years in substantially all of Noranda Exploration properties covering over 80,000 hectares of the Rouyn-Noranda area. This includes mineral rights over the past producing Horne and Quemont, Amulet, Gallen, Ansil, Newbec, East Waite and Old Waite Mines. Alexis also holds a portfolio of properties covering approximately 27,000 hectares in the Val d'Or area including the past producing Louvem, Ferdeber, Dumont and Bevcon Mines. Alexis has a clear route to 100% ownership in this area and maintains an option to purchase the 1400 TPD Aurbel gold mill. Alexis Minerals is well funded, with a recent financing of $10.7M raised through CIBC World Markets and is listed under the symbol AMC on the TSX Venture Exchange. Ten surface diamond drills are currently active on these two substantial and prospective areas and are advancing on a 45,000-meter drill program planned in Q4-2004.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act 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 adequacy or accuracy of this release.

Alexis Minerals Corporation (TSX VENTURE:AMC)