KELOWNA, BC, May 16 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("Metalex", the "Company") is pleased to report the recovery of a 1.25 carat diamond from U2 along with diamond results from both the 9.3 hectare U2 kimberlite pipe and the 3 hectare T1 pipe on the Metalex - Arctic Star Diamond Corp. (TSXV : ADD) joint venture in the James Bay lowlands, Ontario.

U2 Kimberlite Results

A 1.25 carat, clear white diamond with a few minute inclusions has been recovered from hole U2-RC-06. A picture of the diamond is presented on the Company's website (www.metalexventures.com). This diamond exceeds the two 0.72 carat diamonds previously reported.

Primary recovery of diamonds from the fifth and sixth holes is now complete. U2-RC-06 and U2-RC-07 contain 170 and 115 commercial sized stones (greater than 0.425mm) respectively. Both holes intersected several blocks of limestone within the kimberlite which diluted the diamond grade over these sections. These limestone blocks are interpreted to be large pieces of wall rock that fell into the kimberlite pipe at the time of eruption. If U2 were to be mined, these limestone sections would be consigned to the waste dump.

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