International Samuel Exploration Corp.

International Samuel Exploration Corp.

October 15, 2007 10:33 ET

International Samuel to Acquire 50% Interest in 26,653 Hectares in Reed Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2007) - International Samuel Exploration Corp. (TSX VENTURE:SAZ) (the "Company") wishes to announce that it has entered into a Letter of Intent to Purchase Agreement on the Reed Lake claims in Manitoba.

The Company has entered into an agreement with Dalton DuPasquier (the "Vendor") to acquire a 50% ownership interest in and to Mineral Exploration License 331A "MEL 331A" (the "Mineral License") comprised of approximately 26,653 hectares and located near Snow Lake, Manitoba. The purchase is subject to the certain conditions including completion of a formal agreement and acceptance of regulatory authorities. The Company has been advised that the Vendor has entered into an arrangement with New Cantech Ventures Inc. to share the proceeds of the sale of the Mineral License.

The purchase price to acquire a 50% ownership interest in and to the Mineral License is $450,000. As additional consideration, a 1% NSR will be granted in favour of the Vendor, of which one half of one percent (0.5%) can be purchased by the Company at any time for $500,000 cash.

This property is contiguous to VMS Ventures Inc.'s ("VMS") Reed Project. Details of assay results on their drill hole RD 07-02 was announced by VMS on October 4, 2007.

A claims map is available on the Company's website.

The Company is proposing a non-brokered private placement in connection with the acquisition for up to 7,000,000 units at $0.10 per unit which is subject to approval of the TSX Venture Exchange. Each unit will consist of one share and one half of one share purchase warrant. Each full warrant will entitle the holder to purchase one additional share of the Company at an exercise price of $0.20 for a period of one year from closing.

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Conrad Swanson, President

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's ability to close the Letter of Intent Agreement. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) inability to obtain all necessary environmental and regulatory approvals, (9) an increase in the number of competitors with larger resources, (10) other factors beyond the Company's control; and (11) the failure of the Letter Agreement to close for any reason. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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