Ontex Resources Limited

Ontex Resources Limited

April 23, 2007 14:33 ET

Ontex Announces Appointment of Armen Chilian as Vice President Exploration; Ontex in Discussions With Potential Partners for JV or Buyout

LONDON, ONTARIO--(CCNMatthews - April 23, 2007) - Ontex Resources Limited (TSX:ONT) ("Ontex") is pleased to announce that it has appointed Armen Chilian as Vice-President, Exploration. Mr. Chilian graduated in 1993 from the University of Minnesota, Duluth. He has 15 years mineral exploration experience in Canada and the USA working with Metalore, Noranda, Cominco, Kennecott and more recently Ontex. Mr. Chilian has designed and supervised exploration programs for gold in a variety of geological environments throughout the Beardmore - Geraldton Greenstone Belt. Ontex is extremely pleased to have Mr. Chilian continue with the company in this exciting time in the gold market.

Ontex is presently seeking expressions of interest from and conducting meetings with prospective joint venture partners for the development of its 100% owned Brookbank Gold Deposit in the Beardmore - Geraldton area of Northern Ontario. Several major and junior resource and mining companies are presently reviewing the data with a view to a strategic transaction for realizing the Brookbank property's value.

Over a strike length of about 6 km of the Brookbank structure, the property hosts a NI 43-101 compliant mineral inventory (Indicated and Inferred) of 2.64 million tonnes grading 7.4 g Au/t containing 629,000 ounces of gold at a cut-off grade of 3.0 g Au/t. There is excellent potential to increase the resources on the property. Additional information and a NI 43-101 report on Brookbank can be viewed on the Ontex web site. http://www.ontexresources.com/brookbank-gold-deposit.htm

Ontex owns approximately 700 claims in the Brookbank area and controls a 35 kilometer strike length of the favourable geology and structure. Historically the Beardmore - Geraldton area has produced in excess of 4 million ounces of gold.

Armen Chilian P.Geo. and John P. Thompson P.Eng. for purposes of NI 43-101 are the Qualified Persons for Ontex.

Armen Chilian will record a "Beyond The Press Release" on the Company's official Investor Relations Site at www.agoracom.com/IR/Ontex , in which the above developments will be discussed in detail. The recording is expected to be available on or after Wednesday, April 25, 2007.

Investors are also asked to visit the Ontex IR Hub at www.agoracom.com/IR/Ontex where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to ONT@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

About Ontex Resources Limited

Ontex Resources Ltd is a junior resource company listed on the Toronto Stock Exchange under the symbol "ONT" engaged in gold exploration principally on its Brookbank Gold property in northern Ontario. Ontex has issued 66.9 million common shares.

To find out more about Ontex Resources Limited. (TSX:ONT), visit our website at: http://www.ontexresources.com/

Forward-Looking Statements

Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". The words "expect", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to a significant business, economic and competitive uncertainties and contingencies. Ontex cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Ontex to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold and currencies; operating or technical difficulties in connection with mining or development activities; employee relations; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in the Company's most recent Annual Information Form on file with the Ontario Securities Commission and other provincial securities regulatory authorities (please see www.sedar.com).

Ontex disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The TSX does not accept responsibility for the adequacy or accuracy of the information contained in this news release.

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