Vantex Resources Ltd.

Vantex Resources Ltd.

November 20, 2014 10:22 ET

Vantex to Begin Exploration on Blackfly and Nomar Properties in Abitibi

LA PRAIRIE, QUÉBEC--(Marketwired - Nov. 20, 2014) - Following the acquisitions of the Blackfly and Nomar properties, the management of Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALP:VAX) will start in the coming days, a ground magnetic survey and a compilation of the historical data available on these projects.

These properties that comprise 40 claims, are located in the prolific Bousquet mining camp and overlap the Cadillac-Larder Lake Fault. They include many gold showings and previous works show promising gold potential.


About Vantex

Like many small Canadian mining exploration companies, Vantex faces a depressed mining market, new mining regulations and a constant drop of metal prices that makes financing, exploration and the development of mining projects very challenging.

The management of the Company wants to use this downturn to acquire quality gold properties and eventually joint venture them with willing partners, to develop them.

The Galloway project

Article 118 of the new Quebec mining law passed could harm the Company as it would obligate Vantex to be in production on 3 mining concessions (CM 82-83-84) comprised in the Galloway project by December 2018. If this condition is not met, those concessions could be automatically integrated to the Kanasuta protected area project ("PAPK") without any compensation to the Company. Note that this policy does not apply to the main showings of the Galloway project, namely the Moriss, Hendrick or GP showings.

Management has started a process with Quebec's Department of Natural Resources in order to extract the Galloway property from the PAPK. Judicial actions against the Quebec government could also be considered in the future, if necessary.

Cautions Regarding Forward-Looking Statements

This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecasted or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.

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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