Coloured diamonds, including a blue coloured stone continue to predominate in final three drill holes from Mori joint venture property in Ontario



    TSX Venture Exchange
    Symbol: MTX

    KELOWNA, BC, Sept. 18 /CNW/ - Metalex Ventures Limited (MTX: TSX Venture
Exchange) in conjunction with its joint venture partners Dianor Resources Inc.
(DOR: TSX Venture Exchange) and Mori Diamonds Inc. are pleased to inform our
shareholders that we have received complete results for the remaining 3 holes
of the 16 NQ drill holes drilled on the Mori joint venture properties, located
3 kilometres north east and north west of the Leadbetter Diamond Property in
the Wawa area of Ontario. Theses are the final results of the 2007 drilling
campaign conducted on the Mori East and Mori West blocks which returned a
preponderance of coloured diamonds (press releases of January 14 and June 25,
2008). The NQ drill cores were processed by autogenous (attrition) milling at
the CF Minerals Research Limited laboratory in Kelowna, British Columbia to
recover indicator minerals followed by caustic fusion to recover diamonds.
    The colour characteristics of the diamonds recovered from the 3 drill
holes, MN 07-11, MN 07-12 and MN 07-13, are very similar to those recovered
from the first 10 holes, with coloured diamonds making up 56% of the stones,
while white and colourless diamonds represented 44% of stone population. Of
the coloured diamonds 26.5% were brown; 11.6% were grey; 11.0% were yellow
(double that of the previous holes); 5.8% were green. Other colours consisted
of one purple and one blue diamond. The blue diamond was described as an
included, high intensity blue (scale of 4 out of 4), with dimensions of 296 x
132 x 129 microns (1000 microns = 1 millimetre). The colour characteristics of
all the diamonds recovered from the 13 holes drilled on the Mori East block
consist of 47.5% white stones and 52.5% coloured diamonds with the following
order of abundance brown (26.75%), grey (13.88%), yellow (5.72%), green
(5.09%) and other colours orange, purple, amber, black, pink, blue (1.09%).
Indicator minerals recovered from the diamondiferous drill cores by autogenous
(attrition) milling included, G-9 and G-10 garnets, group I eclogitic garnets,
picroilmenites, chromites, chrome diopsides and olivines.
    Holes MN 07-11, MN 07-12 and MN 07-13 were drilled 2 kilometres to the
west of the other 10 holes in the Mori East Block. The main host rocks are
Archean age (2.697 billion years old) conglomerates that are visually similar
to those conglomerates drilled to the east; however, they are situated near a
major east west striking shear zone, that may have affected diamond
preservation in that area. The largest diamonds were recovered on
0.425 millimetre aperture square mesh screens.

    
       Summary of Diamond Recoveries from Drill Core - Mori East Block
    -------------------------------------------------------------------------
                                     Diamond Count per bottom sieve
                                         (aperture in microns(*))
    Drill_                        --------------------------------------
    Hole                          less                                  Total
    Num-     Inter- Weight Litho- than                                  Diam-
    ber From  val    Kg    logy   105 +105 +150 +212 +300 +425 +600 +850 onds
    -------------------------------------------------------------------------
    Total MN 07-01
     to MN 07-10   6,209.47       1740 853  926  868  476  168  38   10 5,079
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MN
    07-
    11 14.00  107   526.04  Congl   11  15   15   12    5    3   0    0   60
    -------------------------------------------------------------------------
                             MS/
      134.00   27    135.7  Volc     6   0    0    0    0    0   0    0    6
    -------------------------------------------------------------------------
             Total  661.74          17  15   15   12    5    3   0    0   67
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MN
    07-
    12 37.00 137.3  667.30  Congl   16  14   10    9    3    1   0    0   53
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    MN
    07-
    13 2.00 111.00  539.62  Congl   11   8    6    5    4    1   0    0   35
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    Grand Total
    MN 07-01 to
    MN 07-13       8,078.13       1784 890  957  894  488  173  38   10 5,234
    -------------------------------------------------------------------------

    (*) 1000 microns = 1 millimetre; MN = Mori East block; Congl = conglomerate,
MS/Volc = mixed metasediments-volcanic strata
    

    The results continue to demonstrate the persistence of the diamondiferous
conglomerate in the area and more specifically indicate the diamondiferous
nature of the conglomerate on the Mori East block of claims. The three
kilometre long diamond bearing conglomerate band on the Mori East block is
situated on the east side of the Mildred Lake Fault and is the faulted eastern
continuation of the main diamond bearing Leadbetter Conglomerate located
approximately 3.5 kilometres to the south. Exposures of the conglomerate
attain thicknesses on surface of up to 180 metres and dip steeply to the
north-northwest. Drilling results indicate that the true thickness of the
diamond-bearing conglomerate ranges from 87.6 to 121 metres.
    Management is very pleased with the overall results of the 2007 drilling
programme especially the abundance, variety and size of coloured stones
recovered which include rare orange, purple and blue diamonds. A number of
coloured stones are of commercial size ((greater than)0.85mm) and diamond
counts continue to average a promising one diamond per kilogram in a
continuous diamondiferous conglomerate. The presence of rare coloured diamonds
is believed to be the first such occurrence in Ontario and in conjunction with
the Company's recent discoveries of rare coloured diamonds in similar
geological settings in Quebec marks a new geological target for coloured
diamonds in the Superior Province.
    Mr. Carl Verley, P.Geo is the Qualified Person responsible for the
technical contents of this press release.

    
    About Metalex
    -------------
    
    Metalex is a Canadian based exploration company with strategic Canadian
and international projects.
    In the vicinity of the "Ring of Fire" in northern Ontario the Company has
joint ventured claims totaling 214.4 square kilometers to WSR Gold Inc. WSR
can earn a 50% interest by funding $20 million of exploration work over 4
years. The project has discovered significant zinc - copper - lead
mineralization at anomaly "5.01". Assay results include an intercept of 102
metres averaging 6.5% Zn, 0.44% Cu, 0.19% Pb The project is aggressively
delineating this anomaly while continuing to test the other 39 geophysical
anomalies identified on the claims.
    Also in the James Bay region the Company has discovered and completed
delineation drilling of four kimberlites. Diamond results of pipe T1 are
sufficiently positive to justify bulk sampling the pipe and a 200 to 300 tonne
sample is partially complete at the present time.
    In northern Quebec the Company has 2 joint ventures. The first is with
Threegold Resources where the companies are exploring for base and precious
metals. The second is a three way joint venture with Dianor and Wemindji
Exploration for diamonds. The diamond joint venture has claims over 395.4
square kilometers. Significant diamond quantities have been found in
preliminary outcrop samples from conglomeratic rocks.
    In Morocco Metalex has a 25,000 km(2) exploration license covering
Archean rocks. Extensive sampling has shown the area to be prospective for
diamonds, base and precious metals.
    The Company has exploration licenses in northern Mali where anomalous
gold has been found in stream and soil samples.
    In Brazil the Company has exploration licenses in the state of Mato
Grosso. Numerous large diamonds have been found in the streams within the
licenses. Sampling and geophysics has been conducted to track the kimberlite
sources of the large diamonds and associated abundant diamond indicator
minerals.
    In Angola the Company has an exploration license covering 3,000 km(2) of
the headwaters of the highly diamondiferous Cuango River. Two airborne
geophysical surveys have generated in excess of one hundred anomalies which
have been prioritized for drill testing. Drilling is currently underway and 13
kimberlites have been found to date.

    
    Chad Ulansky

    Chad Ulansky
    President and CEO

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.
    

    %SEDAR: 00008159E




For further information:

For further information: 203-1634 Harvey Ave, Kelowna, B.C, Canada, V1Y
6G2, Tel (250) 860-8599, Fax (250) 860-1362, www.metalexventures.com,
investorinfo@metalexventures.ca

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