Millstream Mines Ltd.

Millstream Mines Ltd.

October 30, 2007 10:00 ET

Millstream Cuts 8.25 Metres of 2.53% Copper Within a Larger Interval of 31.25 Metres in Drill Hole S-07-15 at Its Potter Property in North Eastern Ontario

TORONTO, ONTARIO--(Marketwire - Oct. 30, 2007) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) is pleased to announce that drilling on the Potter Property continues to define a large "stacked" mineralized system. Drill hole S-07-15, the second of three holes being drilled on Azimuth 350 to test the western extension of the "stacked" massive sulphide zones, has intersected a 31.25 metre interval of significant base metal values.

Hole S-07-15 was targeted 2 degrees down dip from S-07-14 on the same drill setup. It intersected the mineralized structure 68 metres vertically below the 2nd Interval of S-07-14. A detailed accounting of the assay returns from S-07-15 with previously released S-07-14 (see PR Oct. 17, 07) are as follows:

Hole No. From To Core Length Cu Zn Co Ag
(metres) (metres) (%) (%) (%)(oz/T)

S-07-15 710.75 742.00 31.25 1.64 0.78 0.031 0.33
(Az 350, Dip-58.4)
Including 710.75 719.00 8.25 2.53 0.74 0.028 0.57

Including 721.50 725.70 4.20 2.24 2.22 0.051 0.50

Including 731.25 736.30 5.05 2.54 0.96 0.058 0.40

Including 738.80 742.00 3.20 1.99 1.19 0.014 0.33

(Az 350, Dip-56.4)
1st Interval 506.00 507.40 1.40 8.14 7.06 0.038 1.14

2nd Interval 665.50 669.30 3.80 6.05 0.20 0.040 0.85

(i)previously reported on Oct. 17, 2007

The mineralization has been traced in multiple massive sulphide (MASU) zones down to a vertical depth of 945+ metres (3100 ft.+). Interpretation of the intercepts along with all the knowledge gained from maps of the past mine workings and the 3-D modeling (Northern Abitibi Project) indicate that the stacked zones strike roughly east-west and dip from 85 degrees north to 85 degrees south.

The current drilling program is targeted to establish with a degree of confidence the continuity of the MASU of the past mine workings (Mine Zone) for 305+ metres (1000 ft.+) downward. Drilling to-date of the Mine Zone indicates a MASU panel having a strike length of 122+ metres (400 ft.+) for a vertical height of 305+ metres (1,000 ft.) with very wide intersections. Further active drilling is expected to expand the Mine Zone MASU panel along strike. Additionally, the drilling has discovered a parallel zone north of the Mine Zone and another south of the Mine Zone. These north and south zones will need follow-up drilling to confirm limits and orientation. Beyond what has been mined in the past, the mineralized stacked zones remain open to the east, west and to depth.

More investigation and drilling are required to asses the potential upward extensions of the north and south zones that have never been mined. Current and past drilling has not confirmed the absolute limits of the above mentioned zones.

The semi-massive and massive sulphide mineralization at Potter is pyrrhotite-rich and enveloped by an aerially restricted, semi-conformable chlorite alteration. Chalcopyrite and sphalerite occur as irregular stringers and blebby disseminations in the predominately pyrrhotite mineralization. This zoning may reflect original temperature gradients and sequential replacement during formation of the sulphide lenses where an early, "lower temperature" pyrrhotite mineralization was progressively replaced by "higher temperature" sphalerite and chalcopyrite. The basalt hyaloclastite unit hosting the mineralization is thick, reaches a thickness of up to two hundred and fifty metres, and appears to have likely accumulated within a graben or basin of as yet unknown size. This basalt hyaloclastite host was an effective trap. The style of copper zinc mineralization was largely emplaced below the seafloor. Subseafloor cementation and replacement is an efficient mechanism to trap metals rather than dispersing them via hydrothermal plumes into the water column. Subseafloor replacement is a mechanism common but not restricted to the formation of many, large massive sulphide deposits (re: Kidd Creek, Horne, Louvicourt). Volcanogenic copper zinc massive sulphide lenses (VMS) also occur as seafloor sulphide accumulations associated with carbonaceous mudstone sedimentary strata at the Potter. This style of copper zinc VMS mineralization hosts a significant part of the Potter mineralized system. In addition copper zinc massive sulphide veins and stringers also occur as part of the mineralized sequence at the Potter.

Millstream's drilling program continues to expand the "stacked" mineralized massive sulphide zones located at the Potter Property. The past producing property is found in the highly prolific Abitibi Greenstone Belt in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario, Canada. The Potter volcanogenic massive sulphide (VMS) type deposit is located midway between the Kidd Creek VMS deposit and the historic Horne VMS deposit with their respective smelter complexes.

Sample preparation and analyses for this release were conducted by Swastika Labs in Swastika, Ontario on split drill core supplied by Millstream. Dave Gamble, P.Geo. and Edward Bettiol, P. Eng, both consultants of Millstream, are the Qualified Persons as described in National Instrument 43-101 for the Potter Mine Project. They have reviewed this report and press release with company management.

About Millstream Mines Ltd.:

Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has active projects in the Province of Ontario, Canada and in the State of Montana, USA. The company's main focus continues to be the 100% owned Potter Mine Property. It is the company's ambition to fulfill drilling requirements necessary to estimate a NI 43-101 compliant resource.

Millstream seeks safe harbour with regard to forward looking statements.

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