Alexis Pours Additional 5,860 Ounces Gold & Achieves Commercial Production at Lac Herbin Mine, Val d'Or, Quebec

ALEXIS MINERALS COPORATION (TSX: AMC) announces that its first gold mine at Lac Herbin, Val d'Or, Quebec, has achieved Commercial Production effective October 1, 2008. As previously reported, the Lac Herbin Gold Mine is on schedule to be at Full Production this quarter and meet its previous guidance of 17,000 ounces of gold production (oz.Au) for 2008 and 36,000 oz.Au for 2009 (See News Release: July 16, 2008). The Lac Herbin mine has now produced 10,525 ounces of gold during the custom milling campaigns.

This is a significant event since Alexis has now joined the leagues of the junior gold producers. Alexis expects to benefit from the cash flow from Lac Herbin during these difficult markets and current high price of gold (in Canadian dollars) The Official Opening of the Lac Herbin gold mine was held on October 2, 2008 with over 200 attendees including Alexis employees, key suppliers, government representatives and media representatives.

A second custom gold milling campaign commenced Sept. 15, 2008 (refer News Release of September 18, 2008) and it was completed as scheduled on October 10, 2008 with 5,860 ounces of gold recovered from 26,769 dry tonnes of ore with the mill again recording higher than expected grades. The campaign treated more than the originally scheduled 15,000 tonnes for 2,400 oz. of gold. A re-sequencing of stopes achieved higher production than estimated earlier, resulting in additional gold ounces produced in the pre-production phase. Once again, high mill recovery rates at 97.4% were maintained throughout the campaign.

Mine development at the Lac Herbin site continues with the following highlights:

- The main access Ramp has now been developed down to a vertical depth of 320 metres and level and sublevel development from this ramp in the S1 and S3 Zones continues on schedule.

- Seventy four employees are now involved with the mining activities on a seven days per week basis.

- A comprehensive safety management program has been implemented.

- A new site office is almost complete.

- Two more custom milling campaigns are scheduled for 2008.

Five underground diamond drills continue delineation and exploration drilling of the deposit with the objective of replacing indicated resources mined and substantially increasing inferred resources. Alexis has focused its exploration on the extensions of known lenses and the discovery of new gold-bearing structures in the immediate vicinity of the Lac Herbin Mine. Alexis drilled a total of 39,783m prior to the end of September with five drills underground, with a view to continuing to confirm the potential of long term operations at the Lac Herbin Mine.

Highlights from recent exploration drilling include the identification of a possible repetition of another S1 Zone, 100 m west of its previously known location at a 200 m depth in drill hole LH02-316. Although not mineralized, the shear zone intercept included a 3.6 m (true thickness) quartz vein which will warrant follow-up drilling. Another exploration drill hole (LH03-101) intersected five shear zones north of the Lac Herbin zone, the northernmost gold-bearing structure to date. Of these five structures, two returned gold-anomalous assays: 5.05 g Au/t over 0.4 m and 6.96 g Au/t over 0.6 m that were 72 m and 246 m north of the Lac Herbin zone, respectively.

Alexis believes that the mineralized system continues outside the actual Lac Herbin deposit to the north and west of the existing mine. Alexis plans to have a surface drill start shortly to investigate the areas west and north of the current underground infrastructure, which are not accessible for underground drills.

Alexis' interpretation of historical drilling from the Ferderber mine to the east and south of the Lac Herbin mine has generated a number of exploration targets on previously unexplored structural intersections between known gold-bearing structures. These targets will be included in the 2009 exploration program.

Alexis Minerals continues to implement its strategy of generating cash flow from the Lac Herbin Mine Operations to support an ongoing program of regional exploration on its extensive land package in the Val d'Or and Rouyn-Noranda mining camps. Recent exploration has resulted in very promising results (See News Release: October 17 2008).

Quality Control

The Lac Herbin underground program is supervised by Mr. Claude Gobeil, P.Eng, Olivier Grondin, P.Geo. and Patrick Sevigny, Eng., who are employees of the Company and 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. Whole core sampling procedures are followed on infill drilling and delineation drilling. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate for each batch of samples. A strict QA/QC program is followed on samples taken from drill core. Analyses are performed by ALS Chemex of Val d'Or, Quebec.

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

About Alexis Minerals

Alexis Minerals Corporation is a junior Canadian Mining company listed on the Toronto Stock Exchange. Alexis owns the 1400 tonne per day Aurbel gold mill and has recently opened the adjacent, wholly owned Lac Herbin Gold deposit where the company is projecting and annual run rate of 36,000 ounces of gold. Alexis also has the right to earn in into a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda and is focused on advancing this project towards a commercial production decision in 2008. Alexis holds an outstanding portfolio of properties covering 1,005 sq. km. of the prospective Val d'Or and Rouyn-Noranda Mining Camps in Quebec and explores these properties for both gold and base metals. Approximately 786 sq. km. of the Rouyn-Noranda Mining Camp is explored in a 50/50 joint venture with Xstrata Copper. Alexis has budgeted $5.5 million for surface exploration in 2008. There are currently five underground drills active at Lac Herbin and two surface drills active in Val d'Or.

Forward looking information.

This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, future exploration plans and techniques, theories regarding the characteristics regarding the deep zone, estimates regarding the timing and costs of exploration, mineral prices, and future mining plans. Forward looking statements are subject to significant risks and uncertainties, including those risks identified in the annual information form of the Company, which is available under the profile of the Company on SEDAR, and other factors that could cause actual results to differ materially from expected results. Estimates and assumptions underlying the future-looking information are based upon extensive technical and scientific analysis conducted by the management of the Company, the analysis of external consultants and information obtained by the Company from third parties. Readers should not place undue reliance on forward-looking information. Forward looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.

Contacts:
Alexis Minerals Coporation
David Rigg
President and CEO
(416) 861-5889
(416) 861-8165 (FAX)
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Alexis Minerals Coporation
Bruce Barch
VP Investor & Corporate Affairs
(416) 861-5905
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Alexis Minerals Coporation
Louis Baribeau
Relationniste
(514) 667-2304
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Website: www.alexisminerals.com

SOURCE: Alexis Minerals Corporation

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