Vantex Resources Ltd.

Vantex Resources Ltd.

December 30, 2010 09:00 ET

Vantex Raises $1,640,000 in Common Share Units and Flow-Through Units

LA PRAIRIE, QUÉBEC--(Marketwire - Dec. 30, 2010) - Vantex Resources Ltd. (the "Company") (TSX VENTURE:VAX) is pleased to announce the completion of a $1,640,000 brokered financing.

The Company sold 732 Flow-Through units (the "FT Units") at a purchase price of $1,250 per FT Unit, for a total amount of $915,000. Each FT Units consists 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 Company also sold 725 Common Shares Units (the « CS Units ») at a purchase price of 1,000 $ per CS Unit, for a total amount of $725,000. 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.

In connection with the private placement, Jones Gable & Company Ltd. will receive a cash commission of $161,000 as well as 292,800 Agent's warrants. Each Agent's warrant shall be exercisable into one common share at a price of $0.25 for a period of 16 months from the closing date.

Following this financing, Mr. Robert McEwen now owns more than 10 % of the issued shares of Vantex.

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.

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.

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.

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