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Metalex Ventures Limited - Surface rock samples return 1029 more diamonds from new Quebec discovery

KELOWNA, BC, April 10 - Metalex Ventures Limited (MTX: TSX- Venture Exchange) in conjunction with its joint venture partners Dianor Resources Inc.
(DOR: TSX Venture Exchange) and Wemindji Exploration Inc. are pleased to announce further diamond results from their new diamond discovery in Quebec.
Additional diamonds have been recovered from surface rock samples on the Joint Venture's Ekomiak V property in addition to diamonds and gold from similar
rocks on the Ekomiak IV property located some 75 kilometres ENE of the PEM in the James Bay region of Quebec.

One thousand and twenty nine diamonds were recovered from fifteen out of twenty eight conglomerate rock samples totaling 434 kilograms recently processed for diamonds from the two JV properties. Previously, 665 diamonds, including sixteen rare purple diamonds were recently recovered from these rocks on the PEM and Ekomiak V properties (press release March 3rd 2008).

Diamond results reported in this press release, recovered from the fifteen conglomerate samples from the two JV properties are outlined in the Table below.

Summary of Diamonds recovered by sieve size
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Total
Weight Bottom Sieve aperture in microns(*) Dia-
Location Kgs +75 +106 +150 +212 +300 +425 +600 +850 +1180 +1700 monds
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EKOMIAK
IV(xxx) 143.10 5 6 3 2 0 0 0 0 0 0 16
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EKOMIAK
V(xx) 291.30 513 259 141 66 22 9 3 0 0 0 1,013
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TOTAL 434.4 518 265 144 68 22 9 3 0 0 0 1,029
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(*) 1000 microns = 1 millimetre
(xx) Results from SRC only (caustic fusion)
(xxx) Results from CF Minerals (autogenous milling) and SRC (caustic
fusion)
(Ekomiak IV= 5 samples; Ekomiak V= 10 samples)

The largest diamond recovered was an amber, clear fragment measuring 1.06mm x 0.76mm x 0.52 mm from the Ekomiak V property. SRC is currently describing (colour, dimensions etc) all of the diamonds recovered to date at their laboratory. Currently only full results are available for diamonds greater than +300 microns.

To date, results have been received for forty eight of the eighty outcrop samples taken from the Ekomiak IV and the Ekomiak V joint venture properties.
Based on these results from the two JV properties, seventy five percent of the samples contain diamonds and two samples from Ekomiak IV contain flakes (2)
and small pieces (2) of gold. Ninety percent of the conglomerate samples from Ekomiak V are diamond bearing. The results reported to date from the two
properties are from the same conglomerate formation, the Ekomiak Formation which is believed to be between 2.716 and 2.733 billion years old and amongst
the oldest diamond bearing conglomerate in the world. Cumulative results for all diamond bearing conglomerate samples are outlined in the table below:

Diamonds recovered by sieve size
-------------------------------------------------------------------------
Total
Weight Bottom Sieve aperture in microns(*) Dia-
Location Kgs +75 +106 +150 +212 +300 +425 +600 +850 +1180 +1700 monds
-------------------------------------------------------------------------
EKOMIAK
IV(xx) 143.10 5 6 3 2 0 0 0 0 0 0 16
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EKOMIAK
V(xx) 771.90 648 557 256 141 42 13 4 1 0 0 1,662
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TOTAL 915.00 653 563 259 143 42 13 4 1 0 0 1,678
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(*) 1000 microns = 1 millimetre
(xx) Results from CF Minerals (autogenous milling) and SRC (caustic
fusion)
(Ekomiak IV= 5 samples; Ekomiak V= 28 samples)

A total of one hundred and twenty eight surface bedrock samples of conglomerate, averaging 30 kilos each, were collected from sixty eight sample sites on five properties. Results to date confirm that three of the five properties contain a large expanse of Archean aged diamond bearing conglomerates. Results for the remainder of the samples from the five JV properties are awaited and will be released when received from the laboratories

At each site, two samples were taken; one sample for autogenous milling to recover indicator minerals plus diamonds and the second sample for caustic fusion to recover only diamonds. Autogenous milling samples were sent to the CF Minerals laboratory in Kelowna, British Columbia while the samples for caustic fusion were sent to the Saskatchewan Research Council (SRC) laboratory in Saskatoon, Saskatchewan.

Autogenous milling of twelve conglomerate samples from Ekomiak IV resulted in the identification (picking) of five hundred and eighty two indicator minerals. One hundred and forty two of these mineral grains were sent for microprobe analyses and results confirmed the presence of numerous kimberlite and diamond indicator minerals (DIM's) including Olivine, Pyrope (G9) and Eclogitic (G1) garnets; Chromites; Clinopyroxenes and Picroilmenite. The minerals and their characteristics are similar to those from the PEM and Ekomiak V previously reported (press release March 3rd 2008).

Management are very pleased with these continued positive results from the Ekomiak V property and especially the confirmation of diamond bearing
conglomerate some 75 kilometers away from the initial discovery property. Metalex concurs with Dianor that these additional diamond results confirm that the Leadbetter Diamond Bearing Conglomerate model is a valid new, low cost diamond exploration model for diamond bearing conglomerates in the Superior Craton of Quebec and Ontario. Staking of claims in the areas of the JV properties by other companies and individuals has increased since the announcement of the diamond discovery

Mr. Chad Ulansky is the Qualified Person responsible for the technical contents of this press release.

Certain Metalex exploration projects are managed by Kel-Ex Development Ltd., a company owned by Dr. Charles Fipke an internationally recognized diamond geologist. Dr. Fipke is the Chairman of Metalex. Kel-Ex provides Metalex with access to advanced proprietary databases and interpretational techniques. In return Kel-Ex receives a 10% administration fee on certain projects to cover costs and, in the case of Canadian projects, a 10% interest in certain projects carried to production. Dr. Fipke also owns the C.F. Mineral Research laboratory where samples collected in the exploration programs are analyzed.

Charles Fipke
Dr. Charles Fipke
Chairman

For further information: 203-1634 Harvey Ave, Kelowna, B.C, Canada, V1Y 6G2, Tel (250) 860-8599, Fax (250) 860-1362, Home, investorinfo@metalexventures.ca

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