Vantex Resources Ltd.
TSX VENTURE : VTX

Vantex Resources Ltd.

July 16, 2007 09:00 ET

Vantex Defines a First Mineral Inventory at Lake Expense

LA PRAIRIE, QUEBEC--(Marketwire - July 16, 2007) - The management of Vantex Resources Ltd (TSX VENTURE:VTX) is pleased to announce that it has received a 43-101 compliant reports on the mineral inventory of its Lake Expense gold deposit located within the Guillet property (100 % Vantex).

Seventeen mineralized structures were outlined on the Lake Expense deposit. Given the complexity of the orebody, the level plan method was used for the first 50 meters from surface and the section method was used for the remaining of the deposit. Ore left on pads, following the A zone bulk sampling, was also included. Total measured and indicated resources were estimated at 320,950 tonnes grading 2.62 g/t Au equivalent to 27,038 ounces of gold while inferred resources were estimated at 76,570 tonnes grading 2.31 g/t Au equivalent at 5,687 ounces of gold.

Cut off grade was established at 1 g/t Au except for a few cases where lower grade material had to be included for continuity purposes. Minimum true width is 2.5 metres. Specific gravity was calculated at 2.8 t/c.m. A maximum radius of 15 metres from hole was used for drill indicated resources. High values were cut to ounce per ton. The report indicates that good exploration potential still exist at depth, below the deposit, and along its northwestern extension. A previous press release states that: "Along the north-west extension of Lake Expense, drill hole LE06-201 returned a value of 1.85 g/t Au over 2.8 metres, including 10.95 g/t Au over 0.3 metres (core length)"). The resource estimate report was produced by Daniel Kelly and Yves Gagnon both engineers, qualified persons under NI43-101 and consultants for the company.

Vantex' president mentions that "It should be noted that the actual mineral inventory was achieved after exploration expenditures (excluding bulk sampling) of only 1.6$ millions on the Lake Expense deposit. This is equivalent to 56$ per ounce gold or 5$ per ton of measured and indicated ore. Moreover, the bulk of the tonnage is found within the first 50 metres from surface. These results are therefore quite significant and very encouraging for the future exploration programs on the property"

Vantex received another 43-101 report on the exploration potential of the Guillet property as a whole (authors: Pierre O'Dowd and Gilles Laverdiere). This report indicates that several gold and zinc showings were recently discovered by drilling within a north-east striking corridor of mineralization which crosses the western portion of the property for at least 3 kilometres. The best new indices are as follows:

- the 215 showing, located some 600 meters north of the Kelly showing, returned 2.51 g/t Au over 6.5 metres (core length) including 13.13 g/t Au over 1 metre

- finally, the 190 showing returned 4.38 g/t Au over 2.4 (core length) metres some 400 meters north of the Lake Expanse deposit.

These reports indicate that the exploration potential on the Guillet property is still excellent. The compilation report recommends a 2.3M $ exploration program to follow up on new mineralizations and to continue the development of the Lake Expense deposit.

Pierre O'Dowd and Gilles Laverdiere geologists, and Daniel Kelly and Yves Gagnon, engineers, qualified persons under NI 43-101 and consultants for the company, reviewed and approved the present press release.

Contact Information