Metalex intersects massive sulphides at James Bay

2008-05-22 14:30 ET - News Release

Mr. Chad Ulansky reports

METALEX-WSR-ARCTIC STAR JOINT VENTURE INTERSECT MASSIVE SULPHIDES ON RING OF FIRE GEOPHYSICAL TARGET, JAMES BAY LOWLANDS, ONTARIO

Metalex Ventures Ltd.'s first hole, inclined at 60 degrees toward a sympathetic electromagnetic-magnetic Noront-style geophysical anomaly, has intersected massive sulphides between 78.1 and 90.1 metres in depth. The hole is targeted to intersect the most conductive anomaly between approximately 100 and 150 metres in depth. The true width of the sulphide intersection is not known at this time.

Significant amounts of pyrrohotite, pyrite and chalcopyrite have been visually identified by Brian Polk, Metalex's geologist, within the massive sulphides. The anomaly is believed to be within the projected strike of the Ring of Fire zone that hosts the Noront discoveries. Mineralized parts of the drill hole are being cut in half, so that one-half of the mineralized zones can be couriered to a laboratory for nickel-copper-cobalt-platinum-paladi... assay analysis.

Dr. Charles Fipke, chairman of Metalex, is the qualified person responsible for the technical contents of this press release.