Mr. Charles Fipke reports

METALEX COMMENCES DRILLING OF COPPER-NICKEL-COBALT TARGETS AT B3 CLAIM BLOCK IN QUEBEC

Metalex Ventures Ltd. has started drilling at its 100-per-cent-owned B3 claim block in Quebec testing promising geophysical anomalies for copper/nickel/cobalt mineralization.

Claim block B3 (copper/nickel/cobalt)

The 24,322-hectare B3 claim block was staked due to the company's heavy mineral and soil-till sampling indicating it contains copper/nickel/cobalt sulphides. Metalex has undertaken a VTEM (versatile time-domain electromagnetic) airborne geophysical survey over its B3 claim block by Geotech Ltd.

The VTEM survey, which included both electromagnetic and magnetic data, was reviewed by SHA Geophysics Inc. Its work indicates that eight of the conductors detected by the electromagnetic survey are thought to likely represent sulphide mineralization.

Drilling has now commenced on the first of these conductors.

Claim blocks A1 and A2 (gold)

When drilling at the B3 copper/nickel/cobalt project is complete, Metalex hopes to move the drill to its A1 and A2 claim blocks staked for gold. These claim blocks were staked due to the promising gold and pathfinder element results from detailed heavy mineral sampling of the areas. A VTEM survey over the claim blocks identified several conductive and magnetic anomalies that could be the bedrock source of the gold.

Regional exploration

The company also intends to complete follow-up heavy mineral sampling on gold anomalies identified by its plus-or-minus-10,000-sample regional database in Quebec. One hundred eighty-five gold anomalies thought to reflect bedrock rather than placer sources have been discovered in the survey.

The technical information and results reported here have been reviewed by Chad Ulansky, PGeo, a qualified person under National Instrument 43-101, who is responsible for the technical content of this release.

We seek Safe Harbor.