Diamonds continue to be recovered on the Metalex/Dianor joint venture property as diamond drilling continues



    KELOWNA, BC, April 27 /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 announce the continued discovery of diamonds in conglomerates on the
eastern extension of the diamond bearing Leadbetter Conglomerate on their JV
property. In addition, diamond drilling of 13 holes at two locations on the JV
property has been completed while drilling at a third location has commenced.
    Diamond results have been received for 9 of the 21 surface rock samples
collected in late 2006 (press release December 4th 2006). These samples were
processed by SGS Lakefield in Ontario using the caustic fusion technique to
recover diamonds, whereas the remaining 12 samples are currently being
processed by combined attrition milling and caustic fusion at the CF Minerals
Research facility in Kelowna, British Columbia.

    
                 Summary of Diamonds recovered by sieve size

                                 Eastern Part

    -------------------------------------------------------------------------
    Sample Weight          Bottom Sieve aperture in microns(*)         Total
    No.     Kgs  +75 +106 +150 +212 +300 +425 +600 +850 +1180 +1700 Diamonds
    -------------------------------------------------------------------------

    RS40146 21.00  6    1   16   11   16    6    2    0     0     0       58
    -------------------------------------------------------------------------
    RS40219 19.00  0    0    1    1    0    0    0    0     0     0        2
    -------------------------------------------------------------------------
    RS40225 18.90  9    8   19   16    5    1    0    1     0     0       59
    -------------------------------------------------------------------------
    RS40227 20.70  0    0    0    0    0    0    0    0     0     0        0
    -------------------------------------------------------------------------
    TOTAL   79.60 15    9   36   28   21    7    2    1     0     0      119
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------

                                 Western Part

    -------------------------------------------------------------------------
    Sample Weight          Bottom Sieve aperture in microns(*)         Total
    No.     Kgs  +75 +106 +150 +212 +300 +425 +600 +850 +1180 +1700 Diamonds
    -------------------------------------------------------------------------

    RS40142 23.33  0    2    1    1    0    0    0    0     0     0        4
    -------------------------------------------------------------------------
    RS40143 23.46  0    0    0    1    0    0    0    0     0     0        1
    -------------------------------------------------------------------------
    RS40144 23.34  1    1    1    0    0    0    0    0     0     0        3
    -------------------------------------------------------------------------
    RS40215 23.50  0    0    1    3    0    0    0    0     0     0        4
    -------------------------------------------------------------------------
    RS40231 19.00  0    0    1    5    0    0    0    0     0     0        6
    -------------------------------------------------------------------------
    TOTAL  112.63  1    3    4   10    0    0    0    0     0     0       18
    -------------------------------------------------------------------------
    -------------------------------------------------------------------------
    (*) 1000 microns = 1 millimetre
    

    The largest diamond recovered was a white, transparent, octahedral twin
stone with 99% preservation measuring 2.00 x 1.28 x 0.69 millimetres.
    The 21 samples were collected from several surface exposures along the
length and across the width of the conglomerate band that intermittently
outcrops for approximately 3 kilometres in a northeasterly direction from
Blueberry Lake in Chabanel Township. The samples in the western part, near
Blueberry Lake, were collected in the vicinity of a high strain zone in the
conglomerate and returned 18 diamonds in 112.63 kilograms of rock compared to
the recovery of 119 diamonds from only 79.6 kilograms of rock on the eastern
end of the conglomerate.
    Four fences of diamond drill holes, totaling 10 holes, were drilled over
a 600 metre length of the steeply dipping conglomerate at the eastern end of
the JV property.

    
                   Leadbetter Extension Area - Mori North

    -------------------------------------------------------------------------
                                                              Total
                                            Conglomeratic   Conglo-
                            Overburden      Intersections    merate    Total
    Hole    Azimuth     Dip  Thickness           m           Length    Depth
    No.     degrees degrees         m      From        To         m        m
    -------------------------------------------------------------------------
    MN-07-01    150     -50     10.50     21.00    178.75    157.75    258.0
    -------------------------------------------------------------------------
    MN-07-02    150     -65      6.40      6.40    110.80    104.40    123.0
    -------------------------------------------------------------------------
    MN-07-03    150     -50     28.50     28.50    185.70    157.20    192.0
    -------------------------------------------------------------------------
    MN-07-04    150     -50      7.40      7.40    174.00    166.60    174.0
    -------------------------------------------------------------------------
    MN-07-05    150     -50      3.00    105.40    263.40    158.00    291.0
    -------------------------------------------------------------------------
    MN-07-06    150     -50      4.00    100.30    233.88    133.58    276.0
    -------------------------------------------------------------------------
    MN-07-07    150     -50      5.30     92.70    313.30    220.60    324.0
    -------------------------------------------------------------------------
    MN-07-08    150     -50      6.80      6.80    113.25    106.45    198.0
    -------------------------------------------------------------------------
    MN-07-09    150     -50      6.90      6.90     70.30     63.40    195.0
    -------------------------------------------------------------------------
    MN-07-10    150     -50      6.70     60.66    222.00    161.34    222.0
    -------------------------------------------------------------------------
    TOTAL                                                            2,253.0
    -------------------------------------------------------------------------
    

    All holes were drilled at an azimuth of 150 degrees and at -50 degree to
the south east except drill hole MN-07-02 which was drilled at -65 degrees to
the south.
    Preliminary geological logging of the drill cores indicates that the
drill intersected conglomerates are similar to the S1CO unit of the
"Leadbetter Conglomerate" (Dianor press release April 23rd 2007). The diamond
bearing conglomerate band is situated on the east side of the Mildred Lake
Fault, being the right lateral extension of the diamond-bearing conglomerate
found on Dianor's Leadbetter Property which is offset in the order of
3.4 kilometres. Exposures of the conglomerate on the Mori Diamond Property
attain thicknesses on surface of up to 180 metres and dip steeply to the
north- northwest. Preliminary drilling results support these findings.
    An area of outcropping conglomerates was also tested in the western part
of the JV property 10 kilometres west of the Leadbetter extension. Three drill
holes were drilled to obtain geological information on the sedimentary
assemblage. Again, from preliminary logging the drill intersected
conglomerates are similar to the S1CO unit of the "Leadbetter Conglomerate"
(Dianor press release April 23rd 2007).

    
                               Mori West Area

    -------------------------------------------------------------------------
                                                              Total
                                            Conglomeratic   Conglo-
                            Overburden      Intersections    merate    Total
    Hole    Azimuth     Dip  Thickness           m           Length    Depth
    No.     degrees degrees         m      From        To         m        m
    -------------------------------------------------------------------------
    MW-07-01    310     -50     10.50     69.10    201.00     131.9    201.0
    -------------------------------------------------------------------------
    MW-07-02    310     -65      6.40     83.10    228.00     144.9    228.0
    -------------------------------------------------------------------------
    MW-07-03    310     -50     28.50     41.10    150.00     108.9    150.0
    -------------------------------------------------------------------------
    TOTAL                                                              579.0
    -------------------------------------------------------------------------
    

    All drill core samples will be sent for combined attrition milling and
caustic fusion at the CF Minerals Research facility in Kelowna, British
Columbia to recover diamonds and indicator minerals.
    Certain Metalex exploration projects are managed by Kel-Ex Development
Ltd., a company owned by Dr. Charles Fipke an internationally recognized
diamond geologist. Dr Fipke is the Chairman of Metalex. Kel-Ex provides
Metalex with access to the advanced proprietary databases and interpretational
techniques. In return Kel-Ex receives a 10% administration fee on certain
projects to cover costs and, in the case of Canadian projects, a 10% interest
in certain projects carried to production. Dr. Fipke also owns the CF Mineral
Research laboratory where samples collected in the exploration programs are
analyzed.

    John Ryder, P.Geo is the Qualified Person responsible for the technical
contents of this press release.

    (signed)
    Chad Ulansky
    President

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

    %SEDAR: 00008159E




For further information:

For further information: Metalex Ventures Ltd, 2600B Enterprise Way,
Kelowna, B.C., Canada, V1X 7Y5, Tel (250) 860-8599, Fax (250) 860-1362,
www.metalexventures.ca, investorinfo@metalexventures.ca

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