Metalex Ventures Ltd. - Angola update

LOWNA, BC, April 10 /CNW/ - Metalex Ventures Ltd (MTX - TSX Venture
Exchange)("Metalex" or the "Company").

Angola Kimberlite Diamond Project

Interpretation of aeromagnetic data over the 3,000 km2 Angola kimberlite
license has been completed by Scott Hogg and Associates, geophysicists, and
127 anomalies have been identified. These anomalies are interpreted to reflect
pipe like bodies which range in size from less than one hectare to greater
than 39 hectares. As follow up of four of these anomalies by Metalex last year
located three new kimberlites, Metalex is confident that many new kimberlite
pipes remain to be discovered within the Chitamba license, some of which may
be of substantial size.
As reported previously a heavy mineral survey has been carried out over
the entire Chitamba license. Kimberlite indicator minerals with diamond
inclusion composition occur at seven drainage sites and three auger sites. At
one drainage site six diamond inclusion composition G10 garnets were found and
this result upgrades the priority of nearby aeromagnetic anomalies.
All four of the kimberlites discovered by Metalex to date are either
diamondiferous or show potential for being diamondiferous. Two microdiamonds
were found in 26.7 kg of weathered rock taken from the Caicala kimberlite, one
of minus 0.15 mm plus 0.106 mm, the other minus 0.106 mm plus 0.074mm. A      
10.5 kg sample of kimberlite 14032A contained one minus 0.15 mm plus 0.106 mm
microdiamond and one diamond inclusion composition garnet. The Company
proposes to collect a 200 kg sample from each kimberlite phase within these
deposits to determine their commercial diamond potential.
All of the aeromagnetic anomalies referred to above, and about 70 other
kimberlites within and to the east of the Chitamba license (the Chitamba -
Lulo kimberlite cluster), are drained by the Cuango River and its tributaries.
Alluvial diamonds, with a value probably exceeding US$1 billion, have been
mined from the Cuango River during the last 30 years downstream from the
Chitamba license. The source of these alluvial diamonds is considered to be
the Chitamba - Lulo kimberlite cluster and, as previous test work in 1974
failed to locate any confirmed diamondiferous kimberlite within this cluster,
the source of the Cuango diamonds remains to determined. Metalex is well
placed to discover such a source by follow up of the aeromagnetic anomalies
referred to above.
The Company will shortly commence a field program to test the highest
priority aeromagnetic anomalies. This program will consist of infill
aeromagnetics, pitting and drilling of priority targets, and staged sampling
of kimberlites that show potential for commercial development.

Angola Alluvial Diamond Project

The Company has an alluvial license covering the same area as the
kimberlite license. As license covers an area of the Cuango River, and its
tributaries, that drain at least 70 known kimberlites and the 127 aeromagnetic
anomalies referred to above, it is considered particularly prospective for
alluvial diamond deposits. This is further supported by significant diamond
sizes and grades recovered from historical alluvial operations downstream from
the license area
The Company has reached agreement with a third party whereby the third
party will collect and treat a gravel sample of not less than 50 cubic metres
of gravel from the Chitamba license. The sample will be collected using
Metalex's dredges and treated in the third party's sortex coupled heavy medium
plant. The sample site proposed by Metalex, but yet to be agreed with the
third party, is close to an area where, according to representatives of
Endiama, the Angola State Diamond Arm, a 216 ct diamond was recovered by
garimpeiros. This work should be completed by the end of May, 2006 and should
enable the Company to determine the diamondiferous character of the alluvial
deposits in this area.

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 a consultant to 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 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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