Metalex completes third hole in large Angolan kimberlite



    KELOWNA, BC, May 28 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX)
("Metalex", "The Company"), is pleased to report the completion of the third
core hole drilled into the large (approximately 24 hectare) kimberlite
discovery, first reported in the news release of April 1, 2009.
    This hole was drilled 283 meters from the first two holes at a bearing of
338 degrees. As reported on May 4th 2009, vertical drilling of the third hole
intersected kimberlite at a depth of 12.2 meters. The hole remained in
kimberlite until a depth of 180 meters. Below this depth several kimberlite
sills were intersected separated by sandstone until the hole was ended at 369
meters. Geologists Charles Fipke and Chad Ulansky have reviewed core from a
depth of 106 meters to the end of hole. Fipke and Ulansky were encouraged as
they observed potential diamond indicator minerals including purple pyropes,
eclogitic garnets, chromites and abundant olivine megacrysts in the
kimberlite.
    The core from 12 meters to 106 meters of the third hole is in Luanda, has
been inspected by the government and is now awaiting transport by air courier
to CF Mineral Research Ltd in Canada for analysis.
    A fourth hole is now being drilled. It is an inclined hole (-55 degrees)
drilled from the site of the third hole towards the site of the first two
holes. At 6 meters (3.4 meters vertical depth) kimberlite was intersected.
Drilling continues in kimberlite with the hole currently at 15 meters.
    Kimberlite core from hole 3 below a depth of 106 meters and from the
drilling completed on the fourth hole to date has been shipped from the field
to Luanda where the core awaits inspection prior to export to Canada.
    Four additional geophysical targets have been tested. Three have been
confirmed as kimberlite bringing the total number of new kimberlite
discoveries on the project to 32.
    To date samples from 15 newly discovered kimberlites have been analyzed.
Seven of these are weakly diamondiferous while 8 are barren of diamond.
Samples from an additional 15 kimberlites are presently being analyzed at CF
Mineral Research Ltd. laboratory for diamond and diamond indicator mineral
contents.
    Metalex is hopeful that eroded parts of the newly discovered large pipe
may be a source of the abundant high quality alluvial diamonds being mined
downstream from the Company's concession on the Cuango River, Angola. The
visual identification of potential diamond indicators in core from the large
kimberlite is most encouraging. Pending favourable diamond contents, a 12.25"
diameter drill as well as a processing plant to process a 200-300 ton bulk
sample is presently available to recover macro diamonds about 3 hrs by road
from the large kimberlite.
    Dr. Charles Fipke, a qualified person, is responsible for the technical
content of this release

    
    "Chad Ulansky"

    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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Metalex Ventures Ltd.

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