Metalex recover more than 800 commercial-sized diamonds from a 15 meter drill intercept from the t1 kimberlite

Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") is pleased to report unusually high numbers of diamond have been recovered from portions of the T1 kimberlite on the Metalex (94.2%) - Arctic Star (5.8%) Diamond Corp (TSXV : ADD) joint venture in the James Bay lowlands, Ontario.

Initial heavy media concentration of the T1 kimberlite at the Stornoway Diamond Corp. plant is now complete. Re-crushing and secondary processing of the T1 samples have been put on hold until the additional grease table recommended by our mineral process engineer to improve diamond recovery is installed in about a month.  In the meantime, the Stornoway plant is being modified to run the U2 bulk sample which is unusually clay rich.

Ongoing work at C.F. Mineral Research Ltd. has resulted in the recovery of more than 800 commercial-sized (0.425mm - 0.85mm) diamonds from 138 to 153 meters depth in the 15(th) of 20 reverse circulation drill holes being processed from T1.

Consequently Metalex has requested the coarse +0.85mm concentrates from this exceedingly diamondiferous drill intersection to be immediately submitted to x-ray and grease table concentration to recover any large +0.85mm diamonds present. 

Diamond counts, weights and descriptions will be released once diamond recovery is complete for the entire hole.  Metalex looks forward to these results.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles Fipke Chairman

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