Vantex Resources Ltd.

Vantex Resources Ltd.

December 01, 2011 16:39 ET

Vantex Cancels the Option Signed With Vanstar on Galloway East

LA PRAIRIE, QUEBEC--(Marketwire - Dec. 1, 2011) - The management of Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is pulling out of the option agreement previously signed with Vanstar Mining Resources Inc. (TSX VENTURE:VSR). This transaction concerning mining claims on the East part of the Galloway property was announced in a press release dated October 12, 2011.

Since Vantex holds 16.6 % of the shares of Vanstar, many conditions must be fulfilled in order to comply with TSX Rules and Regulations in the case of a transaction that is not at arm's length. Management believes that these additional requirements bring delays and outweigh the potential benefits of such a transaction.

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.

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