Kimberlite intersected in core from Metalex-Arctic Star-Big Red Diamond claims, near Victor Diamond Mine, Ontario



    KELOWNA, BC, June 22 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX)
("Metalex") is pleased to report new results of analytical work recently
completed on drill core from the Metalex-Arctic Star Diamond Corp.-Big Red
Diamond Corp. claims situated about 7 kilometers south of the Victor Diamond
Mine, James Bay Lowlands, Ontario. These results are from nine shallow
vertical drill holes, which intersected an average of 6-8 meters of glacial
overburden, followed by approximately by 25 meters of material interpreted as
tuffaceous kimberlite breccia. In each drill hole, these zones were followed
at depth by intersections of limestone.
    Core recovery of this tuffaceous kimberlitic material was poor, with the
nine intersections each weighing between 4.4 and 14.6 kilograms. These samples
also contained abundant limestone fragments.
    Varying quantities of kimberlite indicator minerals ("KIM") including
olivines, chrome diopsides, Group 1 eclogitic garnets and chromites were
recovered in test work done on these samples by CF Mineral Research Ltd. of
Kelowna, British Columbia. Many of these KIM grains have compositions
equivalent to those found as inclusions in diamonds. Significant amounts of
other KIM, including titanium chromites, pyrope garnets, kimberlitic
chromites, and picroilmenites were also present in eight of the nine
kimberlitic intersections.
    These new results indicate that eight of the nine intersections are
indeed kimberlite, and that those drill holes have likely intersected the
margins or upper levels of buried kimberlite intrusive complexes.
    The concentrates of heavy minerals from these intersections are presently
undergoing diamond recovery tests. Due to the small sizes of these samples
however, and the relatively low diamond content of known local kimberlites
(including those from the nearby Victor Diamond Mine), it is difficult to
predict if any diamonds will be recovered. For this reason larger samples will
have to be collected to assess the diamond content, quality and size
distribution. New and larger samples are planned to be collected and tested.
    These new data are regarded as very encouraging. They indicate that a new
group of previously unconfirmed kimberlites have been discovered in the area.
A reassessment of other drill holes which intersected similar material is
currently underway. An additional 13 possible kimberlite intersections from 13
separate drill holes have now been selected for KIM and diamond recovery
tests. New results will be reported when available.
    The drilling information and results reported here have been reviewed 
Mr. A. Lee Barker P.Eng, P.Geol., a Qualified Person under National Instrument
43-101, who is responsible for the technical content of this release.

    
    For Further Information Please Contact:

    "Chad Ulansky"

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

    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




For further information:

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

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