Metalex discovers 18 hectare kimberlite in Angola

    




 KELOWNA, BC, Nov. 22, 2011 /CNW/ - Metalex Ventures Ltd.  ("Metalex", the "Company") is pleased to report that our  geological field technician reports that kimberlite has been  intersected while core drilling a 18 hectare geophysical target  underlying the flood plain of the Cuango River in Angola. 

 The kimberlite reported was intersected at 21.8 meters depth beneath the  river sands to the depth at which drilling continues at 32.6  meters. Our geological field technician has identified the core as  kimberlite and has noted the presence of a purple pyrope garnet. 

 The two large (7 and 18 hectare) targets tested by this drill program  have been confirmed by our field technician as kimberlite. Both targets  lie within the flood plain of the Cuango River where downstream  abundant alluvial diamonds are being mined. Though the Cuango River is  one of the most diamondiferous rivers in the world, the source of the  diamonds has not been discovered. Indicator minerals including purple  pyrope G10 garnets with compositions favourable for diamonds are  present downstream from these kimberlites but not upstream suggesting  that one or both of these could be the source of the alluvial diamonds  being mined downstream. 

 Metalex looks forward to completing the drilling of this hole and  testing the core for diamonds and diamond indicator minerals. 

 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.  

Metalex Ventures Ltd.


CONTACT:  For Further Information Please Contact Chad Ulansky, President &CEO(250) 860 - [e-mail] 


    

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