Metalex clarifies disclosure in information circular

KELOWNA, BC, Sept. 20, 2011 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) (the "Company") In the information circular dated September 12, 2011 for the Company's upcoming annual general meeting, as filed on SEDAR (the "Circular"), there was disclosure of an ordinary resolution to approve a possible creation of a new Control Person which could result under the terms of a proposed agreement with Dundee Corporation respecting the earning of an interest in the Company's T1 and U2 kimberlite pipes in Northern Ontario (the "Project"), as more particularly detailed in the Circular.

This disclosure was included in the Circular in anticipation of the Company finalizing an agreement with Dundee Corporation in order to meet the prescribed deadline for mailing the Circular under applicable securities regulatory policies.

Negotiations are ongoing although to date no such agreement has been reached with Dundee Corporation nor are there any assurances such an agreement will be reached. Any such agreement with respect to the Project will be the subject of a news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Metalex Ventures Ltd.

For further information:

Chad Ulansky, President & CEO
(250) 860 - 8599
investorinfo@metalexventures.ca

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Metalex Ventures Ltd.

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