Vantex Intersects 8.21 g/t Au Over 22.5 Metres on Galloway

The management of Vantex Resources Ltd (TSX VENTURE:VAX) ("Vantex" or the
"company") is pleased to announce the completion of 6 new drill holes for a
total of 1,750 metres, in the area of the Moriss showing where a new gold
discovery was announced by press release on October 8, 2010 (Drill hole VPE10-02
- 5.81 g/t Au over 4.75 metres). The first assay results from the lab indicates
that the size of this new gold zone is getting larger and the grades are getting
better. The Moriss zone is located 600 metres West of the Galloway-Pitchvein
zone (GP).


In VPE10-11, the hole intersected two gold zones with one of the zones showing
visible gold. The initial assay results returned grades of 8.21 g/t Au over
22.50 metres (along the hole) including a section that returned 18.16 g/t Au
over 5.50 metres and 13.93 g/t Au over 6 metres as well as another zone with
1.81 g/t Au over 13.50 metres including a zone with 3.62 g/t Au over 6.25
metres. Drill hole VPE10-10, located 20 metres under VPE10-02, returned 11.6 g/t
Au over 5.35 metres ( along the hole ) including 2.65 metres at 22.73 g/t Au
while hole VPE 10-06 returned 4.548 g/t Au over 10.50 metres including a zone
with 14.646 g/t Au over 3 metres. The management of the company requested
additional assays (metallic sieves) to confirm those results. 


Drill holes VPE10-12 and VPE10-13 did not return any significant results while
results from VPE10-14 are still pending. Another 3,000-meter drilling campaign
will start very soon in this same area.




------------------------------------------------------------------------
                                                                        
Drill hole     Showing        Intersection Width(ii)     Grade   Cut-off
                                 (metres)   (metres)  (g/t Au)  grade of
                                                                31.1 g/t
                                                                      Au
------------------------------------------------------------------------
                                                                        
VPE10-06(i)     Moriss      97.50 - 108.00     10.50     4.548     4.548
Including                   97.50 - 100.50      3.00     14.87     14.87
Including                   97.50 - 106.50      9.10     5.184     5.184
Including                  106.60 - 108.00      0.55      3.53          
                                                                        
VPE10-10(i)     Moriss     101.00 - 106.35      5.35     11.60    10.591
Including                  102.35 - 105.00      2.65     22.73     20.79
Including                  102.35 - 103.00      0.65     39.26          
Including                  103.00 - 104.00      1.00     27.43          
Including                  104.00 - 105.00      1.00     7.360          
                                                                        
VPE10-11(i)     Moriss      84.00 - 106.00     22.50      8.21     7.076
Including                    84.00 - 89.50      5.50     18.16     13.52
Including                    84.00 - 87.00      3.00     31.33     22.80
And                        100.00 - 106.50      6.00     13.93          
Including                  100.50 - 102.00      1.50     30.99          
Including                  102.00 - 103.50      1.50      1.25          
Including                  103.50 - 105.00      1.50     22.22          
Including                  105.00 - 106.50      1.50     1.245          
And                        146.75 - 153.00      6.25      3.53          
                                                                        
------------------------------------------------------------------------



(i)   Partial results (metallic sieves assays are pending)

(ii) Along the hole. Orientation and dip of these zones remains to be confirmed
with more drill holes and geophysics. True width can therefore be subject to
changes depending on future data compilation.




------------------------------------------------------------------
                                                                  
Drill hole      Elevation   Azimut Inclination  UTM East UTM North
------------------------------------------------------------------
VPE10-02              300      180         -45    617125   5339050
------------------------------------------------------------------
VPE10-06              305      180         -50    617175   5339047
------------------------------------------------------------------
VPE10-10              305      220         -47    617173   5339047
------------------------------------------------------------------
VPE10-11              305      270         -45    617172   5339050
------------------------------------------------------------------
VPE10-12              304      205         -45    617184   5339028
------------------------------------------------------------------
VPE10-13              300      214         -45    617129   5339046
------------------------------------------------------------------
VPE10-14              315      180         -45    617280   5339060
------------------------------------------------------------------



"We are excited and pleased with these new results. This proves that we are in
the presence of another important gold source and that this new promising
showing confirms the potential of the Galloway property. The full set of results
will be available in the coming weeks. For the GP zone, the initial drill phase
is now completed and we are only starting to receive assay results. These
results will allow us to proceed with an initial 43-101 resource estimate for
the GP area ", commented Mr. Guy Morissette, CEO of Vantex.


In order to protect this asset, the company filed a claim request at Quebec's
Natural Resources department to secure the north and northwest extensions of the
new zone. A request to transfer claims into cells was also filed at the same
department.


Regarding drilling of the GP showing, management is pleased that every drill
hole completed so far on this zone, intersected the targeted gold structure.
Vantex plans to resume another drilling program on the north-east extension of
this zone, as soon as the compilation of results from the recent drilling
campaigns, is completed. Due to a large amount of exploration currently taking
place in the area, assay results are subject to longer delays.




------------------------------------------------------------
                                                            
  Drill hole   Showing        Intersection  Width(i)   Grade
                                 (metres)   (metres)(g/t Au)
------------------------------------------------------------
                                                            
VHD10-32            GP        7.50 - 10.50      3.00    1.61
                           220.50 - 271.50     51.00   0.632
                           261.00 - 270.00      9.00   1.267
VHD10-36            GP                                      
Including                          12 - 96     84.00    .563
                                   27 - 51     24.00    .792
And                           303 - 337.50     34.50    .722
Including                     330 - 337.50      7.50    .912
                                                            
VHD10-43            GP        156 - 175.50     19.00    .503
And                           310.50 - 354     43.50    .745
Including                  310.50 - 322.50     12.00   1.390
                                                            
VHD10-46            GP        183 - 226.50     43.50   0.681
Including                  210.00 - 226.50     16.50    1.09
And                        210.00 - 273.00     63.00   0.541
------------------------------------------------------------



(i) along the hole. Orientation and dip of these zones remains to be confirmed.
True width can therefore be subject to changes depending on future data
compilation. 


Hendrick Zone

The Company also started an important drill hole in the area of the Hendrick
gold zone where historical drill holes returned 1.23 gt/Au over 67.67 m and 1.34
gt/Au over 42.98 m in KOD86-01 and 1.03 gt/Au over 49.8 m in KOD86-04, in order
to test the potential of this gold area located 500 metres south-east of the
Galloway zone. 


Geophysics surveys, mag and IP, are also underway in the Hendrick and Moriss areas.

The works are under the supervision of Mr. Jeannot Theberge, consulting
geologist and Qualified Person under NI 43-101. Mr. Theberge has read and
approved this press release. 


All samples were tagged, bagged and shipped to Laboratoire Expert Inc.,
Rouyn-Noranda, where 30-gram pulp samples are prepared and assayed for gold
(FAA). New gravimetric analysis (FA) are performed on all the samples with
levels higher than 1.0 g/t Au. A strict QA/QC program including random insertion
of blanks, standards and duplicate samples has been followed throughout the
sample preparation. The NQ-size core is logged, sampled and split in two at the
company's core shack in Rouyn-Noranda. 


Mr. Theberge has read and approved this press release. 

Financing

Vantex also wishes to inform its shareholders that it entered into an agreement
with Jones Gable & Company Ltd. ("Jones, Gable") in respect of two brokered
private placement financings at the following conditions:


A Flow through financing for a maximum of $1,000,000 consisting of 1,000 Flow
through units (the "FT Units") at a purchase price of $1,000 per Unit, on a
commercially reasonable effort agency basis. Each FT Units will consist of 4,000
flow-through common shares and 1,000 common shares at a price of $0.20 per share
and 2,500 common share purchase warrants. Each whole warrant will entitle the
holder to purchase one additional common share in the capital of the company for
a period of twelve months from the date of issuance, at a purchase price of
$0.25 per share. 


Proceeds of the Units will be used for the continuation of exploration of the
Galloway property in Quebec. The expenses will constitute Canadian exploration
expenses and flow-through mining expenditures (as defined in the Income Tax Act
(Canada)), which can be renounced to purchasers for the 2010 taxation year. 


A second financing for a maximum of $499,500 consists of 666 units (the "Units")
at a purchase price of 750 $ per Unit, on a commercially reasonable effort
agency basis. Each Unit includes 5,000 common shares at a price of $0.15 per
share and 2,500 common share purchase warrants. Each whole warrant will entitle
the holder to purchase one additional common share in the capital of the company
for a period of twelve months from the date of issuance, at a purchase price of
$0.25 per share. These funds will be allocated for cash flow purposes.


The securities issued will be subject to a hold period of four months and one
day and subject to the approval of the TSX Venture exchange.