Bulk sample diamond results from T1 kimberlite

KELOWNA, BC, Aug. 9 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") is pleased to report macro diamond results from the first four holes from the T1 bulk sample on the Metalex - Arctic Star Diamond Corp (TSXV: ADD) joint venture in the James Bay lowlands, Ontario.

Initial processing of samples from the first four reverse circulation drill holes at T1 is now complete. The following table illustrates that 3,117 commercial sized (larger than 0.425mm) diamonds have been recovered from the first four holes totaling 92 tons:

    
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    Hole      Number of Diamonds     Sample Weight                   Comment
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            greater than 0.425mm       metric tons
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    K06-14                   716                23     Reported July 8, 2010
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    PT1-22                  1030                31
    -------------------------------------------------------------------------
    PCR-19                   527                19
    -------------------------------------------------------------------------
    K06-13                   844                19
    -------------------------------------------------------------------------
    Total                   3117                92
    -------------------------------------------------------------------------
    

Because at depth the kimberlite in the T1 pipe is hard and dense the drill samples at deep levels produce unusually large DMS concentrates. Consequently our consulting mineral process engineer Mike Rylatt indicates coarse fragments of this DMS concentrate could contain diamonds that were not liberated during the initial processing regime and has recommended that the coarse (+2mm) DMS concentrate be re-crushed to improve diamond liberation. Thus the number of diamonds currently reported is the minimum number of diamonds contained as it is likely that additional diamonds will be recovered from reprocessing.

Size distribution information for a total of 1,735 diamonds from the first two holes (K06-14 and PT1-22) is presented in the following table:

    
     Size Distribution of Diamonds Recovered from Holes K06-14 and PT1-22
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                                            Sieve Sizes                Total
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    Through      0.6mm  0.85mm  0.18mm   1.7mm  2.36mm  3.35mm  4.75mm
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    On         0.425mm   0.6mm  0.85mm  1.18mm   1.7mm  2.36mm  3.35mm
    -------------------------------------------------------------------------
    Number         427     847     315     101      37       6       2   1735
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    Percentage   24.6%   48.8%   18.2%    5.8%    2.1%    0.3%    0.1%   100%
    -------------------------------------------------------------------------
    

Characterization of 712 diamonds from K06-14 is now complete and the colour information for these diamonds is presented below:

    
         Colour Distribution of Diamonds Recovered from Hole K06-14
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    Colour                         Number                         Percentage
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    White                             401                              56.3%
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    Pink                                3                               0.4%
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    Grey                              141                              19.8%
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    Brown                             167                              23.5%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Total                             712                               100%
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To date 11 of the 20 holes from T1 have been processed through the dense media separator at the Stornoway Diamond Corp. laboratory in North Vancouver, B.C. Diamond recovery from seven of these holes is currently underway at both the Stornoway facility and CF Mineral Research Ltd laboratory in Kelowna, B.C. These results, as well as size and colour distribution data will be released as soon as received.

Metalex is pleased with the numbers, colours and size distribution of the diamonds characterized to date. The recovery of three pink and 401 (56.3%) white diamonds from the first hole is particularly encouraging.

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

Neither 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.

%SEDAR: 00008159E

SOURCE Metalex Ventures Ltd.

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

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