Metalex Announces Option Grant

KELOWNA, BC, June 30, 2021 /CNW/ - Metalex Ventures Ltd. (TSXV: MTX) (the "Company") announces that, in accordance with the Company's Stock Option Plan, it has granted an aggregate of 2,130,000 options to certain directors, officers, employees and consultants of the Company. The options are exercisable at a price of $0.08 and have a term of 7 years expiring June 30, 2028. The options also vest in their entirety at the end of 5 years, provided that if an optionee ceases to be a bona fide service provider prior to the vesting of their options a pro rata portion of such optionee's options shall vest and the remainder shall be cancelled.

Signed,

Charles Fipke

Charles Fipke
Chairman

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.