Metalex Ventures Ltd. - Proposed private placement

LOWNA, BC, Sept. 20 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture
Exchange) ("Metalex" or the "Company").
The Company announces that it proposes to carry out a private placement
to raise proceeds of up to $6,300,000. The private placement will be comprised
of a combination of flow-through shares at a price of $0.75 per share and  
non-flow-through shares at a price of $0.75 per share.
Proceeds from the private placement will be used to advance the Company's
diamond exploration projects and for general working capital.
Closing of the private placement is subject to the acceptance of the
TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter Gregory"

Peter Gregory, President
METALEX VENTURES LTD.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.

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