Vantex Resources Ltd.

Vantex Resources Ltd.

January 21, 2008 06:00 ET

Vantex Resources Ltd.: Work in Progress

LA PRAIRIE, QUEBEC--(Marketwire - Jan. 21, 2008) - The management of Vantex Resources Ltd (TSX VENTURE:VTX)wishes to announce that exploration and development work on the Guillet property has been started.

Stimulated by the recent rise in the price of gold, the company has decided to resume its evaluation process of the AB and B zones of the Lake Expense deposit. Accordingly, the company recently received the authorization from the various government agencies (environmental permitting still pending) to extract approximately 35,000 metric tonnes of ore from the AB and B zones. Negotiations with Richmont Mines inc. have been started in order to have the new bulk sample processed at the Camflo facility near Malartic.

To evaluate the full potential of the Lake Expense deposit, the company needs to re-assess future mining and transportation costs as well as make recovery tests. Based on actual transportation costs, the management of Vantex has estimated that an open pit operation could become viable economically if recovered grades are 2.05 g/t Au or over. The first bulk sample completed in 2006 returned a recovered average grade of 3.28 g/t Au (recovery of 96.8 %).

The construction of a stretch of road of 6 kilometres linking two forestry roads is being considered by the company in order to decrease transportation cost between the mine site and the Camflo mill by half.

In addition and parallel to the bulk sample, the company intends to initiate a 6,000 metre drilling program to evaluate a series of gold targets to the north and east of the Lake Expense deposit. A number of old drill holes located to the north of the Guillet lake demonstrate the presence of a gold bearing environment while geophysical anomalies in the eastern portion of the property could be related to potential gold structures. Some structures are one to two kilometres long. The company is actually developing the access roads for the next drilling program.

All future work will be done under the supervision of Daniel Kelly, ing., consultant and qualified person as per NI 43-101.

Monsieur F Project

The planned 4,000 metre drilling program scheduled for this winter on the Patica project has not been started due to the lack of available diamond drill rigs. The company remains confident that the program will be completed before the spring.

The company would also like to add an additional 2,000 metres of drilling on the Pinaca project located a few kilometres to the north of Patica.

This press release has been reviewed and approved by Daniel Kelly, qualified person as per NI 43-101.

Contact Information