Metalex to expand its exploration in Morocco

LOWNA, BC, May 9 /CNW/ - Metalex Ventures Ltd. (MTX TSX-V), ("Metalex"
or the "Company").
Following the discovery of diamond indicator minerals in southeastern
Morocco by the Joint Venture between Metalex and the Moroccan Office National
de Hydrocarburers et des Mines ("ONHYM") (see press release dated May 14,
2004) the joint venture has acquired an additional 11,294 km(2). This
additional area comprises previously unexplored Precambrian cratonic rocks
favorable for diamond, base and precious metal mineralization. The agreement
with ONHYM provides that Metalex shall carry out a low-density heavy mineral
sampling program over the prospective area within the next 18 months and will
expend not less than US$500,000. Upon completion of this work Metalex will
have earned a 60% contributing interest and ONHYM a 40% contributing interest.
The total area now controlled by the Joint Venture is 24,804 km(2).
ONHYM have completed an aeromagnetic survey over parts of the additional
area. Geologist Charles Fipke has identified several responses typical of
those seen over pipe shaped intrusives, such as kimberlites, from this data.
Interpretation of the data will be carried out by a qualified geophysist to
confirm this interpretation.
To date, 942 samples have been collected over the initial Joint Venture
area of 13,510 km(2) and kimberlite indicator minerals have been found in
410 samples. Screening of these samples for diamond potential by the CF
Mineral Research Ltd. laboratory in Kelowna shows 18 sites to contain diamond
stability field minerals, thus substantially narrowing down the area to be
followed up. As the area is prospective for base and precious metals as well,
each of the 942 samples will be analyzed for these commodities.
Metalex is most encouraged by the results so far in Morocco and regards
the acquisition of the additional ground as an important addition to its
exploration portfolio.
Metalex's exploration projects are managed by Kel-Ex Development Ltd., a
company owned by Dr. Charles Fipke, the Chairman of Metalex. Dr. Peter
Gregory, the President of Metalex is also an employee of Kel-Ex. The
arrangement with Kel-Ex provides Metalex with access to the advanced
proprietary databases and interpretational techniques of Dr. Charles Fipke, an
internationally recognized diamond geologist. In return, Kel-Ex receives a 10%
administration fee and, in the case of the Canadian projects, a 10% interest
in the project carried to production. (Kel-Ex will repay its proportionate
share of the costs of mine development out of its share of mine profits).
Dr. Fipke also owns the CF Mineral Research laboratory where samples collected
in the exploration programs are analyzed. Dr. Peter Gregory, a Qualified
Person, has verified that the work carried out by Kel-Ex, manager and operator
of the Company's projects, is being carried out in a professional and diligent
manner and that the appropriate quality controls are in place. Dr. Gregory has
also inspected the CF Mineral Research laboratory and is satisfied that the
work performed there meets or exceeds international best practices; that the
work is performed on an arms length basis and in accordance with standard
commercial arms length terms; and that the results provided by CF Mineral
Research are accurate and reliable. On this basis the Company has not sought
any independent analyses. However, should significant diamond grades be
discovered the Company may seek independent verification of such results.
Dr. Gregory is responsible for the contents of this press release.

Peter Gregory,
President Metalex Ventures Ltd.

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