METALEX ANNOUNCES GRANT OF DEFERRED SHARE UNITS

KELOWNA, BC, May 23, 2024 /CNW/ - Metalex Ventures Ltd. (TSXV: MTX) (the "Company") announces that it has granted an aggregate of 300,000 deferred share units ("DSUs") to two independent directors at a deemed price of $0.05 per DSU.  The DSUs were granted in consideration for services provided by the directors for the quarter ended April 30, 2024.  The DSUs were granted under the Company's Deferred Share Unit Plan adopted on October 11, 2022.  The DSUs vest one year from the date of grant, subject to certain exceptions, and each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.

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.

SOURCE Metalex Ventures Ltd.