Vantex Resources Ltd.
TSX VENTURE : VTX

Vantex Resources Ltd.

March 18, 2008 08:00 ET

Vantex Resources Ltd.: Acquisition of the Santa Anna Gold Deposit

LA PRAIRIE, QUEBEC--(Marketwire - March 18, 2008) - The Management of Vantex Ltd (TSX VENTURE:VTX) is pleased to announce the acquisition of a 100% interest in the Santa Anna gold deposit located 15 kilometres to the west of the town of La Sarre, Abitibi, Quebec. The property comprises two lots totalling 82.54 hectares in La Reine Township. The 100% interest was purchased from two residents of the region for 1,000,000 shares of the company. The vendors will retain a 2% NSR royalty.

The Santa Anna property hosts an auriferous quartz stockwork zone located within the Manley granite. An historical resource estimate, carried over 750 metres of structure and dated 1997, mentions that the property contains 1,615,884 tonnes grading 3.18 g/t Au (see details in table below). A second historical estimate made in 1998, and excluding Zone 8, indicates that the open pit potential of the central portion of the deposit (200 metre long) is 356,721 tonnes grading 2.42 g/t Au (27,764 oz of gold).



1997 Resource Estimate at 1.4 g/t Au cut off grade


Zone Tonnage Grade (g/t Au) Au (gr) Au (oz)
-----------------------------------------------------
8 561,048 3.44 1,928,106 56,237
10 236,772 3.27 775,186 22,609
12 386,202 2.40 928,253 27,074
16 196,394 3.47 684,251 19,957
18 102,929 4.90 504,145 14,704
20 132,539 2.43 323,299 9,430
-----------------------------------------------------
Total 1,615,884 3.18 5,143,240 150,011


1997 Resource Estimate at 3.0 g/t Au cut off grade


Zone Tonnage Grade (g/t Au) Au (gr) Au (oz)
-----------------------------------------------------
8 285,731 4.74 1,354,480 39,506
10 108,507 4.83 524,064 15,285
12 64,284 4.56 293,365 8,557
16 78,058 4.96 387,482 11,302
18 49,810 8.07 401,987 11,725
20 14,251 5.73 81,712 2,383
-----------------------------------------------------
Total 600,641 5.07 3,043,090 88,757


The most recent geological interpretation of the deposit indicates that there appears to be at least seven mineralized structures. They would be sub-parallel to each other with individual width ranging form 5 to 20 metres. The mineralized corridor is approximately 70 metre wide. They can be followed for 750 metres along a N020-N035 direction. Dips are towards the east from 50 to 90 degrees. The vein density increases towards the outer contact of the granite and in proximity to blocs of wall rock within the intrusive.

Vantex has commissioned an independent NI43-101 technical report on the property. The company wishes to delineate the best sectors to extract a 50,000 tonne bulk sample during the summer of 2008. Envireo Conseils has been mandated to obtain all necessary permits to carry out that work. The bulk sample should be treated in a nearby processing plant and should offer valuable information on how to maximize gold recovery and determine the average grade of the deposit. Prior to the bulk sample, the company intends to carry out stripping and surface sampling as well as approximately 1,000 metres of definition drilling. A new NI43-101 compliant resource estimate and a pre-feasibility study should also be produced during the summer. The budget for Phase 1 (stripping, sampling, drilling, reporting) is estimated at 200,000$ while Phase II (bulk sampling and processing) should be approximately 3,000,000$.

This deposit was last evaluated while gold prices where ranging between 300 and 350$/oz. The company believes that the economic parameters of this project have improved significantly with the once of gold nearing 1,000$. The short term objective of the company is to evaluate the viability of an open pit operation.

The reader should be warned that these resource estimates (Altavista Mines) were not done in conformity with NI 43-101 and therefore could carry a certain degree of uncertainty and speculation.

This press release was reviewed and approved by Pierre O'Dowd, qualified person as per NI 43-101.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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