Metalex commences airborne geophysical survey in Morocco

KELOWNA, BC, Aug. 16, 2011 /CNW/ -- 
KELOWNA, BC, Aug. 16, 2011 /CNW/ - Metalex Ventures Ltd. (TSXV : MTX) ("Metalex", the "Company") is pleased to report the
 commencement of an airborne geophysical survey over its exploration
 license in Morocco which shows potential for several commodities.


A 85,000 line kilometer magnetic and radiometric survey is being flown
 over the Company's 17,100 km(2) exploration license in southern Morocco.  Geochemical surveys completed
 by Metalex show the potential of the license to host gold, base metal,
 uranium and diamond deposits.  The prospectivity of the license is
 further demonstrated by the presence of Kinross' 20 million ounce
 Tasiast gold mine located 100 kilometers to the south and SNIM's world
 class 5.7 billion ton iron mine 200 kilometers to the east.


Metalex has entered into a joint venture with Office National des
 Hydrocarbures et des Mines (ONHYM) which is the government department
 overseeing petroleum and mineral exploration, development and
 extraction in Morocco.  ONHYM holds a 40% interest in the project and
 Metalex holds 60% project interest.  Both parties fund their respective
 interests.


Goldak Airborne Surveys based in Saskatoon, Saskatchewan has been
 contracted to fly the survey.  A Piper PA-31 Navajo aircraft equipped
 with three magnetometers which forms a three-axis gradiometer, and is
 also equipped with a radiometric sensor, will be flying the survey. 
 Consultant geophysicists Scott Hogg and Associates from Toronto,
 Ontario are overseeing the survey providing quality assurance and
 quality control as well as processing and interpreting the data.


Metalex was granted exploration licenses totaling over 24,800 km(2) in southern Morocco in 2004 and 2005.  The licenses cover an area that
 is one of the only remaining areas of the world that is underlain by an
 Archean craton (ie; rocks older than 2.6 billion years) that has yet to
 be explored.  Archean cratons are very favorable areas for significant
 mines. All kimberlite diamond mines are on cratons.  Many of the
 world's largest gold mines are also located on cratons such as the
 mines at the Witswatersrand in South Africa, the Yilgarn craton in
 Australia and the Abitibi and Timmins areas in Canada.


Since being granted the licenses, Metalex has collected over 3,000 heavy
 mineral samples and these have shown that the claims are prospective
 for gold, base metals, uranium and diamonds.  Specifically, strong gold
 anomalies were found in 38 areas, base metal anomalies (nickel +/-
 copper +/- cobalt +/- zinc +/- lead) in 59 areas, uranium anomalies in
 6 areas and diamond bearing kimberlites in 18 areas.


Following the comprehensive heavy mineral geochemical survey, areas of
 the licences that did not show potential were relinquished.  All of the
 aforementioned anomalies are contained within the current 17,100 km(2) exploration license.


The airborne survey is expected to require over 4 months of continuous
 flying.  Geophysical data will be processed and interpreted as the
 survey progresses and ground truthing of resultant anomalies will be
 undertaken.  An extensive airborne electromagnetic survey has also been
 budgeted for.  Its extent will be determined in part by the results of
 the current airborne magnetic and radiometric surveys.


Metalex looks forward to the results of the airborne survey over this
 highly prospective area.


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.


Signed,


Charles Fipke


Charles Fipke
Chairman


Forward Looking Statements


Some of the statements contained herein may be forward-looking
 statements which involve known and unknown risks and uncertainties. 
 Without limitation, statements regarding potential mineralization and
 resources, exploration results, and future plans and objectives of the
 Company are forward looking statements that involve various risks.  The
 following are important factors that could cause the Company's actual
 results to differ materially from those expressed or implied by such
 forward looking statements: changes in the world wide price of mineral
 commodities, general market conditions, risks inherent in mineral
 exploration, risks associated with development, construction and mining
 operations, the uncertainty of future profitability and the uncertainty
 of access to additional capital. There can be no assurance that
 forward-looking statements will prove to be accurate as actual results
 and future events may differ materially from those anticipated in such
 statements.  Metalex undertakes no obligation to update such
 forward-looking statements if circumstances or management's estimates
 or opinions should change. The reader is cautioned not to place undue
 reliance on such forward-looking statements.


Neither TSX Venture Exchange nor its Regulation Services Provider (as
 that term is defined in the policies of the TSX Venture Exchange)
 accepts responsibility for the adequacy or accuracy of this release. 


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p Please Contact Chad Ulansky, President & CEObr/ (250) 860 - 8599br/ a href="mailto:[e-mail]"[e-mail]/a /p 

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