Metalex Closes First Tranche of Financing

203-1634 Harvey Ave Kelowna, B.C Canada, V1Y 6G2 Tel 250.860.8599 Fax 250.860.1362 www.metalexventures.com [email protected]

METALEX CLOSES FIRST TRANCHE OF FINANCING

Kelowna, Canada – 31 December 2013 – Metalex Ventures Ltd. (TSXV : MTX) (the “Company”) is pleased to announce, further to its news release of December 24, 2013, the closing of the first tranche of its non-brokered private placement (the “Financing”). The Company raised approximately $320,000 through the issuance of 2,560,639 flow-through shares (the “FT Shares”) at a price of $0.125 per FT Share, all of which were subscribed for by Dr. Charles Fipke, Chairman of the Company.

The FT Shares are subject to a four month hold period expiring May 1, 2014.

The proceeds from the sale of FT Shares shall be applied towards the Company’s mineral properties in Ontario.

For Further Information Please Contact:

Chad Ulansky, President & CEO (250) 860 – 8599 [email protected]

Neither the 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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