Vantex Resources Ltd.

Vantex Resources Ltd.

March 14, 2012 09:00 ET

Vantex Starts Drilling on Galloway

LA PRAIRIE, QUEBEC--(Marketwire - March 14, 2012) - The management of Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) is pleased to announce the resumption of exploration works on the Galloway project, located in Rouyn-Noranda, Abitibi.

A drilling campaign will take place in the Golden Triangle, an area formed by the GP, Moriss and Hendrick showings. The objective of this campaign is to intersect the geology located in the centre of this triangle in order to improve our geological knowledge of this gold sector and test the in-depth extension of the Hendrick zone. The 4 holes drilled in the Hendrick zone have defined a currently known strike length of over 300 metres; the zone is presently open in all directions. Previous results returned grades of .63 g/t Au and .56 g/t Au on respective widths of 280 and 553 metres, along the hole (drill holes VPE10-15 and VPE10-36). This drilling program will also test for the presence of additional higher grade zones within the Golden Triangle.

The management of the Company is confident to intersect new gold zones in this area and to link those findings with known gold zones of the Moriss and GP showings.

This program will be supervised by Daniel Kelly, independent engineer and Qualified Person under NI 43-101.

The Golden Triangle

Located 1 km North of the Cadillac-Larder Lake Fault, the Golden Triangle of the Galloway project presents a similar geological context to the Kerr Addison area (production of 10 million ounces of gold): the contact between the volcano-sedimentary horizons of the Temiscamingue Group, to the South-West and lavas of the Blake River Group, to the North-West. Sediments of the Cobalt Group cover the South portion of the area.

The GP and Hendrick showings are in the Temiscamingue Group and comprise impressive carbonated and sericitized alteration zones. The Hendrick showing is located 600 metres South-West of the GP showing and 600 metres South-East of the Moriss showing. Previous drilling intersected the Hendrick showing on widths ranging between 100 to 550 metres, with both low and high grade gold zones.

The Moriss showing is within the Blake River Group, linked to the south contact of a strongly altered gabbro-diorite dyke mainly containing carbonates and sericites.

The Moriss showing is more or less oriented East-West dipping North. It comprises a shear zone containing smokey quartz veins and sulfides, mainly pyrite (tr-25%) with traces of chalcopyrite, locally, graphite and visible gold. Additional gold structures were also intersected by drilling in the area of the Moriss showing. They are associated with variable oriented sheared zones, more or less brechiated.

Galloway Project

The Galloway project is located less than 30 km West of Rouyn-Noranda, in Abitibi. The property comprises 3 mining concessions and 101 claims covering an area of 2,573.83 ha in the Dasserat township. The volcanites of the Blake River Group occupy the majority of the area covered by the property, except to the South-West where they are in contact with the volcano-sedimentary rocks of the Temiscamingue Group. Syenitic injections occupy the West-central part of the property. Magnetic gabbro-dioritic injections are also observed. The South part of the property is covered by sediments of the Cobalt Group.

Other than the known gold showings (GP, Pitch Vein, Bloody Trench, Hurd, Soaker Hill, Renault Bay, Island, Baie du Canal and Hendrick zones), past work by Vantex also identified the new Boreal, Chalet, Desjardins, Jacob and Moriss discoveries.

Corporate Developments

As previously mentioned, the management of the Company intends to open a business development office in Toronto in order to increase Vantex market awareness with the Toronto financial community and mining funds. The Company plans to finalize a rental agreement in the coming weeks.

Led by the new President of the Company, Mr. Jean-Pierre Colin assisted by Mr. Wayne Carlon, VP Business Development, Ms. Emma Drapell, Corporate Development Associate and Avenue Capital Markets Inc., the office's mission will be to increase market awareness of the Galloway project and Vantex Resources Ltd to the Canadian, American and European investment communities.

The Company is also negotiating with a potential VP-Exploration that would mainly be based in Toronto. His role will consist in assisting the consultants working on the Galloway project and to be involved with the presentations that Mr. Colin and his team will present to investment decision makers.

This press release was read and approved by Mr. Daniel Kelly.

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.

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