Results from Metalex's Moroccan Awsserd Project

    KELOWNA, BC, March 29 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture
Exchange) ("Metalex" or the "Company").

    Awsserd Metal Results

    The Company is pleased to announce metal results from reconnaissance
samples collected over its Awsserd exploration license in Morocco. A total of
696 samples were collected over the 11,293 km(2) license area.
    These results have identified numerous sites anomalous in various
sympathetic element associations. Sympathetic elements are important as these
associations are commonly found in economic mineral deposits. The anomalous
samples are summarized in the following table:

    Anomalous Elements                    Number of Anomalous Samples
    Nickel + Copper +/- Cobalt +/- Zinc    8
    Copper +/- Cobalt                      4
    Zinc +/- Nickel +/- Lead              15
    Lead                                   1
    Gold                                  10
    Uranium                                3

    These anomalies are in addition to those located on the 13,514 km(2)
Tichla exploration license announced in a news release on June 27, 2006. 232
follow-up samples for base and precious metals have been collected on the
Tichla license and are currently being processed at the CF Mineral Research
Ltd laboratory.

    Awsserd Diamond Samples

    640 samples have been collected from the Awsserd license to follow-up the
high priority diamond indicator minerals found in the reconnaissance sampling.
The reconnaissance samples outlined what appears to be an area of previously
undiscovered kimberlites. The kimberlites potentially have high diamond grade
as evidenced by one of the reconnaissance samples containing three G10 garnets
including a very high quality G10-9 (see press release dated June 27, 2006).
    Metalex is most encouraged by the potential of both the diamond and metal
results as they occur in Archaean rocks which have never been explored. A work
program has been designed to find the source mineralization of these anomalous
samples. Within 2007 follow up geochemical sampling, airborne geophysics,
prospecting and rock sampling are planned. This work is expected to commence
in late April.
    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 its 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
    Dr. Charles Fipke, a Qualified Person, is responsible for the technical
content of this release.

    Chad Ulansky

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

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,,

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Metalex Ventures Ltd.

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