Dr. Charles Fipke reports

METALEX PLANS DRILLING FOR GOLD AT A1 AND A2 CLAIM BLOCKS IN QUEBEC

Metalex Ventures Ltd. has provided an update on planned drilling at its 100-per-cent-owned A1 and A2 claim blocks in Quebec testing promising geophysical anomalies.

Claim blocks A1 and A2

The company is encouraged by the results of the detailed heavy mineral sampling and soil-till sampling within the claim blocks. This work has identified areas within the claim blocks, which appear to host gold mineralization. Airborne electromagnetic and magnetic geophysical surveys have been completed over the claim blocks and these have identified geophysical anomalies up-ice of the gold discovered in the sampling. Within the A1 claims, there are six electromagnetic conductors, which are priority drill targets. In the A2 claims, there are four priority conductors to be tested.

Metalex intends to drill test these geophysical anomalies this summer after the drilling at B3 is complete.

Regional anomalies

Metalex has undertaken a multicommodity regional exploration program over almost 400,000 square kilometres of central Quebec. The survey area has only received limited regional exploration but has the potential to host significant mineralization such as the 14-million-ounce Eleonore gold mine. Metalex's program has involved the collection and analysis of nearly 10,000 heavy mineral samples, which have resulted in a comprehensive and proprietary data set.

Within this data set, 185 gold anomalies have been identified. The company intends to follow up on these anomalies to trace them back to their bedrock source.

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

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