LA PRAIRIE, QUEBEC--(Marketwire - Sept. 19, 2012) - Vantex Resources Ltd. (Vantex) (News - Market indicators)(FRANKFURT:UD7A) is pleased to announce results of an initial mineral resource evaluation for its 100% owned Galloway-Pitchvein (GP) Gold Deposit, part of the Galloway Project, located in the Abitibi-Temiscamingue region of Quebec (see Figure 1). Since 2009, Vantex has completed 52 exploration core holes in the GP Deposit area for a total of 17,700 metres of drilling. The initial mineral resource statement was prepared by SKR Consulting (Canada) Inc. (SRK) in accordance with the requirements of Canadian National Instrument 43-101 "Standards of Disclosure for Mineral Projects" ("NI 43-101").

"This is an important step in advancing the Galloway Project. Next we will focus on drilling and developing the higher-grade Moriss Zone, as well as new targets defined by our recent airborne survey. And following SRK's recommendations, we expect to test the northeast extension of GP Deposit," stated Guy Morissette, President and CEO.

The mineral resource statement is presented in the following table

Mineral Resources Statement*, GP Gold Deposit, Quebec, SRK Consulting (Canada) Inc, September 5, 2012:

*Reported at a cut-off grade of 0.21 grams per tonne gold inside conceptual pit shells (see Figure 2) optimized using a gold price of US$1,400 per ounce, metallurgical recovery of 95 percent, 5 percent mining dilution, mining cost of US$2.00 per tonne mined, processing cost of US$8.50 per tonne milled, G&A costs of US$2.00 per tonne milled, selling cost of US$8.00 per ounce, exchange rate of C$1.00 equals US$1.00, overall pit slope of 48 degrees, and a production rate of 15,000 tonnes per day. All figures are rounded to reflect the relative accuracy of the estimates. Mineral resources are not mineral reserves and do not have a demonstrated economic viability.

Details of the GP Mineral Resource Evaluation

The exploration database for the GP Deposit, up to December 2011, includes 69 core boreholes (17,727 metres), 52 of (12,827 metres) which where drilled by Vantex in 2009 and 2010 and 17 historic boreholes. The assay database also includes 116 surface samples collected by channel sampling in 2011. The historic holes where considered to guide the geological modelling, but where not used for resource estimation.

Only the GP zone of the Galloway Project was modelled. Other zones of gold mineralization found on the property, including the Moriss zone and the Hendrick zone were not included in this estimate.

The Mineral Resource Statement represents the first mineral resource evaluation prepared for the Galloway gold project in accordance with the Canadian Securities Administrators' National Instrument 43-101. Mineral resources were estimated in conformity with generally accepted CIM Estimation of Mineral Resources and Mineral Reserves Best Practices Guidelines (November 2003). 

The database used to estimate the mineral resources was audited by SRK. SRK is of the opinion that the current drilling information is sufficiently reliable to model the distribution of the gold mineralization, and that the assay data are sufficiently reliable to support mineral resource estimation. Surface sampling and drilling information show that the main gold mineralization is disseminated in the rock mass over wide areas, rather than being constrained by specific geological features. The auriferous mineralization is, however, bounded to the north and south by two faults that were modeled from drilling data to constrain resource estimation. 

SRK used ordinary kriging to assign a gold grade to each cell of a block model defined to encompass all areas of gold mineralization. Each block was assigned a specific gravity of 2.78, based on three measurements tested by URSTM. The block model was classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (November 2010). Classification was a two-stage process, an initial automated stage followed by a manual smoothing stage to ensure that regular areas are assigned the same resource classification.

SRK considers that the gold mineralization at the GP Deposit is amenable to open pit extraction. SRK used a pit optimizer to determine those portions of the modeled mineralization that show "reasonable prospects for economic extraction" by an open pit. Analysis of optimization results suggests that it is appropriate to report mineral resources at a cut-off grade of 0.21 gpt gold. The mineral resource statement prepared by SRK includes all modeled blocks above the cut-off grade that were located within the conceptual pit envelope optimized considering all model blocks irrespective of their categorization. Blocks located outside the conceptual pit envelopes and outside the property boundaries were not categorized. 

The GP Deposit remains open to the northeast and southwest and at depth. Step-out drilling targeting this trend may present an opportunity to increase the mineral resource.

The technical report supporting the disclosure of the mineral resource statement reported herein will be available today under the Vantex Resources Ltd. profile on SEDAR (www.sedar.com) and at www.vantexressources.com.

About Vantex Resources (www.vantexressources.com)

Vantex Resource's primary asset is the Galloway gold project (see Figure 1). The property can be accessed by road, from Trans-Canada Highway 117 and is 30 kilometers west of Rouyn-Noranda. The company is focusing on its three main gold zones known as: GP, Hendrick and Moriss. These three gold zones, referred to as the golden triangle, are in close geographic proximity. Vantex recently drilled 59.51 g/t gold over 6.2 metres at Moriss. For more information on the Golden Triangle visit www.vantexressources.com or view current drill holes on the on www.corebox.net

Vantex Resources has 71,704,579 shares issued and outstanding. Rob McEwen (Chairman and Chief Executive Officer of McEwen Mining Inc.) owns 10.2% of the Company. As of June 25, 2012 the company has $1.7 million in cash and $410 thousand in 2011 exploration tax credits due from the Government of Quebec.

Technical Information

The mineral resource statement was prepared by Mr. Sébastien B. Bernier, M.Sc., P.Geo. (OGQ#1034, APGO#1847), a full time employee of SKR Consulting (Canada) Inc., who is a Qualified Person and independent of Vantex pursuant to NI 43-101. Mr. Bernier reviewed the technical information contained in this news release and accepts professional responsibility for it.

Caution Concerning Forward-Looking Statements

This press release contains certain forward-looking statements and information. The forward-looking statements and information express, as at the date of this press release, Vantex Resources' plans, estimates, forecasts, projections, expectations or beliefs as to future events and results. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Risks and uncertainties that could cause results or future events to differ materially from current expectations expressed or implied by the forward-looking statements include, but are not limited to, factors associated with fluctuations in the market price of precious metals, mining industry risks, risks related to: litigation, property title, the state of the capital markets, whether shareholder and regulatory approvals for any proposed transaction are forthcoming, environmental risks and hazards, uncertainty as to calculation of mineral resources and reserves and other risks. Readers should not place undue reliance on forward-looking statements or information. Vantex Resources undertakes no obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law. See Vantex Resources' Annual Information Form dated October 31, 2011 and available on SEDAR (www.sedar.com) for additional information on risks, uncertainties and other factors relating to the forward-looking statements and information. All forward- looking statements and information made in this news release are qualified by this cautionary statement.

To learn more about Vantex Resources (News - Market indicators), visit our website: http://www.vantexressources.com.

Figure 1 - Map is available at the following address: http://media3.marketwire.com/docs/Figure1_Map.pdf

Figure 2 - Pit shell is available at the following address: http://media3.marketwire.com/docs/Figure2_PitShell.pdf