Metalex Ventures Ltd. - 100 aeromagnetic anomalies discovered in Angola

LOWNA, BC, Sept. 7 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture
Exchange) ("Metalex" or the "Company").
An initial interpretation of the 11,000 line km of aeromagnetic data
acquired by Metalex covering the Chitamba license in Angola indicates 100
magnetic anomalies that have potential to represent undiscovered kimberlites.
The Company intends to drill the best of these anomalies.
This initial interpretation of the acquired aeromagnetic data covering
the Company's license (see press release dated July 12, 2005) was completed by
Scott Hogg and Associates, Consulting Geophysists. Scott Hogg has identified
more than 100 magnetic anomalies that are indicative of shallow, steeply
dipping volcanic vents characteristic of kimberlites. Fifty-six of these
anomalies have been modeled and the results have indicated potential for
undiscovered kimberlites ranging from dykes to bodies of up to 500 metres in
diameter. The four largest bodies are modeled at 320 x 500 metres (approx
13 ha), 380 x 500 metres (approx 15 ha), 100 x 1000 metres (approx 20 ha) and
500 x 500 metres (approx 20 ha). All but one of the aeromagnetic anomalies are
clustered within an area of 760 km2 in the eastern part of the 3,000 km2
license and are drained by the Cuango River.
The results from kimberlite indicator sampling suggest that kimberlites
in the northeast part of the license contain both peridotitic and eclogitic
garnets whilst in the southeast part of the license peridotitic anomalies
predominate. Seven of the ten largest aeromagnetic anomalies are in the area
dominated by peridotitic garnets whereas the 13 known kimberlites occur in the
area dominated by eclogitic and peridotitic garnets.
It has been previously proposed that the Chitamba - Lulo kimberlite
cluster is the source area of the alluvial diamonds mined in the Cuango River.
SDM, for example, mining the Cuango River approximately 80 km downstream from
the Chitamba license, recovered diamonds worth US$106 million last year.
Approximately 50 known kimberlites both inside and outside the Chitamba permit
are drained by that part of the Cuango River within the permit. Based on the
aeromagnetic data, there is potential for many more kimberlites to be drained
by the Cuango River within the Chitamba license. Thus these aeromagnetic
results further upgrade the alluvial diamond potential of the license.
A program of shallow pitting to test the accessible aeromagnetic
anomalies has commenced. However, as some of the known kimberlites contain
crater sediments, which could be difficult to identify, and some of the
aeromagnetic anomalies may be overlain by young sediments and alluvium, the
only definitive way of testing the anomalies is by drilling. In this regard
the Company will shortly mobilize one of its drills to Angola to test the best
of the aeromagnetic anomalies.

Dr. Gregory, a Qualified Person, has prepared this press release.

Peter Gregory
President

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

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