Vantex Resources Ltd.

Vantex Resources Ltd.

December 13, 2010 15:30 ET

Vantex Announces Common Share Units and Flow-Through Units Offering for a Maximum of CDN$2,000,000

LA PRAIRIE, QUÉBEC--(Marketwire - Dec. 13, 2010) - Vantex Resources Ltd. (the "Company") (TSX VENTURE:VAX) has entered into an agreement with Jones, Gable & Company Limited ("Jones, Gable") in respect of two brokered private placement financings, for accredited investors, at the following conditions:

A Flow-Through financing for a maximum of $1,000,000 consisting of a maximum of 800 Flow-Through units (the "FT Units") at a purchase price of $1,250 per FT Unit, on a commercially reasonable effort agency basis. Each FT Units will consist of 4,000 flow-through common shares and 1,000 common shares at a price of $0.25 per share.

Proceeds of the FT Units will be used for the continuation of exploration of the Galloway property in Quebec. The expenses will constitute Canadian exploration expenses and flow-through mining expenditures (as defined in the Income Tax Act (Canada)), which can be renounced to purchasers for the 2010 taxation year.

The second financing, for a maximum of $1,000,000 in common shares, consists of a maximum of 1,000 units (the « CS Units ») at a purchase price of 1,000 $ per CS Unit, on a commercially reasonable effort agency basis. Each CS Unit consists of 5,000 common shares at a price of $0.20 per share and 2,500 common share purchase warrants. Each whole warrant will entitle the holder to purchase one additional common share in the capital of the company for a period of twelve months from the date of issuance, at a purchase price of $0.25 per share. These funds will be allocated for general working capital purposes.

The prices of these private placements were determined under a price protection request filed with the TSX Venture Exchange on December 8, 2010, when the Company's shares were trading at $0.235 per share. The securities issued as part of these placements are subject to a minimum hold period of four-month-and-one-day period and subject to the approval of the TSX Venture exchange.

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. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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