Metalex Ventures Ltd. (TSXV : MTX) ("Metalex") is pleased to report unusually high numbers of Diamond have been recovered from portions of the T1 kimberlite on the Metalex (94.2%) - Arctic Star (5.8%) Diamond Corp (TSXV : ADD) joint venture in the James Bay lowlands, Ontario.
 
Initial heavy media concentration of the T1 kimberlite at the Stornoway Diamond Corp. plant is now complete. Re-crushing and secondary processing of the T1 samples have been put on hold until the additional grease table recommended by our mineral process engineer to improve Diamond recovery is installed in about a month. In the meantime, the Stornoway plant is being modified to run the U2 bulk sample which is unusually clay rich.

Ongoing work at C.F. Mineral Research Ltd. has resulted in the recovery of more than 800 commercial-sized (0.425mm - 0.85mm) diamonds from 138 to 153 meters depth in the 15th of 20 reverse circulation drill holes being processed from T1.

Consequently Metalex has requested the coarse +0.85mm concentrates from this exceedingly diamondiferous drill intersection to be immediately submitted to x-ray and grease table concentration to recover any large +0.85mm diamonds present.

Diamond counts, weights and descriptions will be released once Diamond recovery is complete for the entire hole. Metalex looks forward to these results.
 
The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
 

Metalex is a Canadian based exploration company with strategic Canadian and international projects.

The Company has recently completed two 400 tonne bulk samples on two large kimberlite pipes located within 70 kilometers west of DeBeers' Victor Diamond Mine in the James Bay lowlands of Ontario. Processing of the T1 bulk sample is currently underway with the T1 complete results expected in fall 2010.
 
In Metalex's Attawapiskat Joint Venture, white microdiamonds have been recovered from a newly discovered kimberlite pipe located 7 kilometers south of the Victor Diamond Mine. Follow up drilling was completed during July-August 2010 and are awaiting lab analysis of the samples.
 
Near Wawa, Ontario the Company has a joint venture focused on discovering economic quantities of diamonds in conglomerates and also to locate their primary kimberlite sources. Drill results to-date have discovered the presence of coloured stones within the conglomerate.
 
In northern Quebec the Company has two joint ventures.  The first is for base and precious metals while the second is focused on diamonds.  The Diamond joint venture has claims over 395 square kilometers where significant Diamond quantities have been found in preliminary outcrop samples from conglomeratic rocks. Of significance is the presence of coloured stones including a purple macrodiamond in these samples. 

Internationally, the Company is exploring the headwaters of the highly diamondiferous Cuango River and has discovered 50 kimberlites.In Morocco, Metalex has an exploration license covering 25,000 km² over one of the few unexplored cratons in the world.  High quality G10 garnets recovered from sediment samples suggest that the source kimberlites could be high grade.  In southwestern Greenland, abundant G10 garnets have been found in glacio-fluvial sediments around Smile Lake and work has focused on finding the kimberlite source of these high quality Diamond indicators.. The Company also has exploration licenses in northern Mali where anomalous gold and base metals have been found in stream and soil samples.