203-1634 Harvey Ave Kelowna, B.C Canada, V1Y 6G2

Tel 250.860.8599

Fax 250.860.1362 www.metalexventures.com [email protected]

Kelowna, Canada - October 31, 2014 - Metalex Ventures Ltd. (TSXV : MTX). Further to its news release of October 17, 2014, the Company announces that it has received the acceptance of the TSX Venture Exchange to the settlement agreement with Dundee Corporation ("Dundee") and, as a result, has issued 2,766,666 shares to Dundee, which shares are restricted from transfer until February 24,

2015.

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.