Metalex-Arctic Star Poised to Drill 30 Noront Style Sulfide and Kimberlite Targets

KELOWNA, BC, Nov. 2 /CNW/ - Metalex Ventures Limited (MTX: TSX - Venture Exchange) (the "Company")

The Noront nickel-copper-platinum massive sulfide discovery in James Bay

Lowlands, northeastern Ontario is reported to have been made inadvertently by

drill testing a magnetic anomaly for kimberlite. The 91.5% Metalex-8.5% Arctic

Star joint venture had previously flown an airborne magnetic geophysical

survey over a 20,000 sq.km survey in the vicinity of the Noront discovery.

Consequently, the Metalex-Arctic Star joint venture has recently staked 41

claims in the vicinity and along the projected strike of the Noront discovery.

These claims cover 30 magnetic anomalies. According to our consultant

geophysicist, 7 of these anomalies have magnetic susceptibilities analogous to

kimberlite and 23 with magnetic susceptibilities analogous to the massive

sulfide at the Noront discovery.

The Metalex-Arctic Star geologists are most encouraged by the potential

of this new development. The joint venture has already been approached by well

capitalized potential joint venture partners. The Metalex-Arctic Star joint

venture is eager to drill all potential targets in a timely manner.

Dr. Charles Fipke, P.Geo is the Qualified Person responsible for the

technical contents of this press release.

ON BEHALF OF THE BOARD OF DIRECTORS

"Charles Fipke";

------------------------

Charles Fipke, Chairman

METALEX VENTURES LTD.

The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this release

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For further information: Metalex Ventures Limited, 2600B Enterprise Way,

Kelowna, B.C., Canada, V1X 7Y5, Tel (250) 860-8599, Fax (250) 860-1362,

www.metalexventures.ca, investorinfo@metalexventures.ca

Also see:

http://www.newswire.ca/en/releases/archive/November2007/02/c3623.html