Vantex Resources Ltd.

Vantex Resources Ltd.

August 03, 2011 09:30 ET

Vantex Sells 50 % of Its Cookie Monster Property

LA PRAIRIE, QUEBEC--(Marketwire - Aug. 3, 2011) - The management of Vantex Resources Ltd. (« Vantex »)(TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) announces the sale of a 50 % interest of its recently acquired Cookie Monster property, to Amseco Exploration Inc. (« Amseco ») (TSX VENTURE:AEL).

With this agreement, Amseco acquires a 50 % participation in the 28 cells held by Vantex in the Monster Lake area, on properties directly adjacent to those of Stellar Pacific Ventures Inc. where an extensive drilling campaign is taking place.

The Monster Lake area is also known for its numerous gold deposits, namely the Joe Mann, Chevrier and Philibert deposits.

In exchange of the sold interest, Vantex will receive a $5,000 cash payment at signing and 400,000 common shares of Amseco, when regulatory approvals are obtained. Amseco and Vantex are planning a joint exploration program on the property. The exploration budget for the joint-venture agreement plans for a minimum of $100 000 in works for the first year.

This agreement is subject to the approval of regulatory authorities and confirmation of titles by the government.

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.

Contact Information