Metalex announces drilling progress on large Angolan kimberlite

Metalex Ventures Ltd. report the completion of the fourth core hole and progress on the fifth hole drilled into the large (approximately 24 hectare) kimberlite discovery reported in the news release of April 1, 2009.

The fourth hole was drilled at the same site as the vertical hole 3 inclined (-55 degrees) towards the first two core holes located 283 meters distant at a bearing of 158 degrees. Hole 4 intersected diatreme facies kimberlite at 6 meters until 227 meters where it entered sandstone. From 245 meters to 284 meters an alternating sequence of fine grained magmatic kimberlite and siltstones was intersected. From 284 meters to the end of hole at 359 meters sandstone was intersected.

Hole 5 was collared 524 meters south south east at a bearing of 158 degrees from hole 4. From this location the drill was inclined -50 degrees at a bearing of 338 degrees towards hole 4. Drilling intersected sandstone until 179 meters where kimberlite breccia was intersected. The kimberlite breccia continued to 254 meters where fine grained magmatic kimberlite was intersected through to 289 meters. Drilling continues in sandstone at 390 meters.

Core from the first holes is in Luanda where it has now been approved for export and is scheduled to depart via air cargo for Canada on Tuesday June 16th, 2009. Upon arrival the core will be processed for diamonds and diamond indicator minerals at CF Mineral Research Ltd.

Metalex is pleased that the drilling of holes over 500 meters apart has intersected kimberlite. This drilling confirms the large size of the kimberlite.