Vantex Resources Ltd.
TSX VENTURE : VTX

Vantex Resources Ltd.

February 17, 2009 08:00 ET

The "Autorite Des Marches Financiers" Gives a Visa for the Final Prospectus of Vanstar Mining Resources Inc.

LA PRAIRIE, QUEBEC--(Marketwire - Feb. 17, 2009) - Vantex Resources Ltd. (TSX VENTURE:VTX)

The management of Vanstar Mining Resources Inc. (Vanstar) is pleased to announced that, as part of its initial public offering (IPO), it has received the visa from the AMF for its final prospectus.

Previously, a letter of intent had been signed with Vantex Resources Ltd in which Vanstar will obtain a 100% interest in the Patica and Pinaca properties (renamed Patica North and Patica south) located in the James Bay area near the town of Radisson. In exchange for that interest, Vantex will received 3,300,000 common shares of Vanstar and retain a royalty equivalent to 1% NSR on all mining titles. Vanstar will become sole owner of the properties as soon as its listing on the TSX Venture is completed. Vantex will remain as operator on the two properties up until a pre-feasibility is completed on one of them.

Nothern Securities Inc. has been retained to complete the initial public offering in the province of Quebec. This offering consists of a minimum of 238 units A and 860 units B and a maximum of 895 units A and 900 units B at a price of 1,050$ per unit A and 500$ per unit B. The minimal offering totals 679,900$ and the maximal 1,389,750$. Every unit A consists of: i) 2,100 common shares of the company at a price of 0.10$ per share, and: ii) of 5,000 flow through shares at 0.15$ per share. Each unit B consists of: i) 5,000 common shares at a price of 0.10$ per share, and: ii) of 5,000 common warrants entitling the owner to buy an equivalent number of common shares at a price of 0.13$ per share for a period of two years following the closing date of the actual offering.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release

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