METALEX PLANS DRILLING FOR GOLD AT A1 AND A2 CLAIM BLOCKS IN QUEBEC
Claim Blocks A1 and A2
The Company is encouraged by the results of the detailed heavy mineral sampling and soil-till sampling within the claim blocks. This work has identified areas within the claim blocks which appear to host gold mineralization. Airborne electromagnetic and magnetic geophysical surveys have been completed over the claim blocks and these have identified geophysical anomalies up-ice of the gold discovered in the sampling. Within the A1 claims there are six electromagnetic conductors which are priority drill targets. In the A2 claims there are four priority conductors to be tested.
Metalex intends to drill test these geophysical anomalies this summer after the drilling at B3 is complete.
Regional Anomalies
Metalex has undertaken a multi-commodity regional exploration program over almost 400,000 square kilometers of central Quebec. The survey area has only received limited regional exploration but has the potential to host significant mineralization such as the 14 million ounce Eleonore Gold Mine. Metalex's program has involved the collection and analysis of nearly 10,000 heavy mineral samples which has resulted in a comprehensive and proprietary dataset.
Within this dataset 185 gold anomalies have been identified. The Company intends to follow up on these anomalies to chase them back to their bedrock source.
The technical information and results reported here have been approved by Mr. Chad Ulansky P.Geo., President and CEO of the Company and a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.
Signed,
Charles Fipke
Dr. Charles Fipke C.M.
Chairman and Director
FORWARD LOOKING STATEMENTS: Certain of the statements and information in this press release constitute "forward-looking statements" or "forward-looking information", including statements regarding the expected use of proceeds of the private placement. Further, any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information. For the reasons set forth above, investors should not place undue reliance on forward-looking statements and information.
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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