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Gold/Mining/Energy : Canadian Diamond Play Cafi

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To: Natedog who wrote (9507)	4/21/2015 9:53:44 AM
From: Rocket Red	Read Replies (1) of 16206

Metalex Ventures receives permits for U2 bulk sample 2015-04-21 09:12 ET - News Release Shares issued 95,097,165 MTX Close 2015-04-20 C$ 0.085 Mr. Chad Ulansky reports U2 KIMBERLITE BULK SAMPLE PERMITTING COMPLETE Metalex Ventures Ltd. wishes to provide an update on the status of the permitting of the bulk sample to be collected from the U2 kimberlite. Permitting Metalex is pleased to report that the permits required for the collection of the 10,000-ton bulk sample of the U2 kimberlite have now been received. Ontario's Ministry of the Environment completed its review of the environmental assessment of the U2 bulk sample as required due to a comment received by an environmental group when the assessment was posted in February, 2014. The Ministry of the Environment has determined that the environmental assessment for the project was adequate. As a result, Ontario's Ministry of Northern Development and Mines issued the bulk sample permission and disposition permission for the project. With the bulk sample permission having been issued, Ontario's Ministry of Natural Resources issued a work permit for the winter road and land-use permits for the camp and lay-down area, as well as for a winter airstrip. The Ministry of the Environment has issued an environmental compliance approval for air emissions and an environmental compliance approval for sewage works. In addition, it has issued permits to take water for both the construction of the winter road and also the settling pond for the plant. First nations Metalex continues to work with the Attawapiskat First Nation and Marten Falls First Nation to complete an exploration agreement for the proposed bulk sample. Financing The company is in discussions with several groups concerning the financing of the bulk sample collection. U2 profile The U2 kimberlite pipe is a highly prospective diamond development project located in the James Bay Lowlands of Ontario, near De Beers's Victor mine. Diamonds recovered from the U2 pipe are of exceptional quality -- with 88.8 per cent by weight of the plus-1.7-millimetre diamonds being white and 1.1 per cent being coloured. The large size of the U2 pipe shows the potential to host a substantial tonnage. The technical information and results reported here have been reviewed by Chad Ulansky, PGeol, a qualified person under National Instrument 43-101, who is responsible for the technical content of this release. We seek Safe Harbor.

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