Alexis Minerals Corporation: 15,000-Meter Diamond Drill Program in Progress on Four Massive Sulphide Target Areas in Val-D'or, Quebec.

TORONTO -- Alexis Minerals Corporation (TSX Venture Exchange: AMC) A 15,000-meter drill program has started with two drill rigs working four base metal and gold target areas in the Val-d'Or, Quebec area. Alexis has a total of ten drill rigs working in the Val D'Or and Rouyn-Noranda areas. The program is part of Alexis Minerals' $25 million planned exploration program over the next three years; one of the largest in Quebec.

Alexis is earning into all Aur Resources Inc interests in 17 properties in the Val d'Or area, the "Central VMS Properties", including a 55% interest in the Louvex property (see press release dated March 17, 2004). The Louvex property is in joint venture between Aur Resources Inc. (55%) and Novicourt Inc. (45%). Novicourt will fund their 45% share of exploration costs on the Louvex program.

Target Areas:

1. Louvex

One drill rig is currently working in the immediate area west of the Louvicourt Mine. Recent modeling has identified five diamond drill targets where the western extension of the Louvicourt Mine sequence is also known to host the Louvem Zones 1 to 5. Favourable geological settings have been identified with open-ended alteration zones and mineralized intersections. The targets lie immediately west of the Louvicourt Mine (15.5 Mt @ 3.4% Cu, 1.6% Zn, 26 g/t Ag and 0.9 g/t Au) and below the Louvem Deposits. Significant input to target generation was provided by the Louvicourt Mine technical team of Aur Resources Inc.

2. Manitou 

One drill rig is currently testing one of three targets associated with the Manitou-Barvue Felsic Complex, which hosts the Manitou-Barvue Mine. Previous work confirmed the continuity of alteration and mineralization at depths up to 1000 meters to the east of the Maitou-Barvue Mine.

3.Auriac

Drilling is expected to start the 3rd week of October. A deep-seeing geophysical survey has been completed to pinpoint drill targets considered favourable for Bousquet-type gold mineralization. This environment is represented by gold rich massive and disseminated sulphides over a 3-km long target area between the Aumaque deposit to the west and the Lavalie occurrences to the east.

4. Bloc Sud

Drilling is expected to start during the 3rd week of October. The target area has been developed along an alteration trend extending into the "Bloc Sud" property. A deep-seeing geophysical survey has been recently completed to refine targeting of a conductive trend identified by an Airborne MegaTEM survey in this area.

Mr. Philippe Cloutier, P.Geo., Grayton Mining Inc. will act as Qualified Person on the program.

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.

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)