First bulk sample diamond results from T1 kimberlite

Jul. 9, 2010 (Canada NewsWire Group) -- Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") is pleased to report the first macro diamond results from the T1 bulk sample on the Metalex - Arctic Star Diamond Corp. (TSXV : ADD) joint venture in the James Bay lowlands, Ontario.

Processing of samples from the first reverse circulation drill hole at T1 is now complete. Hole K06-14 sampled approximately 23 tons of kimberlite and 716 commercial size diamonds larger than 0.425mm and smaller than 3.35mm were recovered. Additional size distribution data is forthcoming and will be released when available. Results from an additional 19 holes from T1 are yet to be complete.

The bulk sample program exceeded expectations. Operational efficiencies allowed for the collection of approximately 447 tons from T1 and 460 tons from U2 within budget instead of the 300 ton samples originally planned.

The T1 sample has been submitted to the Stornoway Diamond Corp. diamond recovery plant in North Vancouver, BC. The plant has been modified to optimize the liberation and recovery of diamonds from the hard and dense kimberlite found in the T1 kimberlite at depth. Seven holes have now been processed through the dense media separator. However, the Stornoway facility is not designed to recover diamonds smaller than one millimeter in size. Thus diamond recovery from all DMS concentrate smaller than one millimeter is being done at the CF Mineral Research Ltd. ("CF Minerals") laboratory in Kelowna, BC.

The CF Minerals laboratory has optimized the techniques and procedures to recover diamonds from this fine material. Now that CF Minerals has moved into a production mode, it is expected that the diamond recovery from the fine material will catch up with the concentrate production from Stornoway. Accordingly, interim diamond results from the T1 bulk sample will be disseminated more frequently going forward.

Upon completion of the T1 bulk sample the U2 bulk sample will be processed. The softer, less dense kimberlite from U2 is expected to be quicker to process.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

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    Signed,
    Charles Fipke

    Charles Fipke
    Chairman
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