LA PRAIRIE, QUEBEC--(Marketwire - Oct. 12, 2011) - The management of Vantex Resources Ltd. (TSX VENTURE:VAX)(FRANKFURT:UD7A)(ALPHA:VAX) granted to Vanstar Mining Resources Inc. (TSX VENTURE:VSR), an option to acquire a 40% interest in the Ogima-Nord block and a 50% interest in the Sandborn, Francoeur and Cadillac block of claims, all located in the East part of the Galloway project. Vantex controls 16.6 % of the shares of Vanstar.

The management of Vantex deems preferable to focus on the West part of the Galloway project ( Perron, Hurd blocks and Renault Bay block) in order to develop the full potential of the main showings forming the Golden Triangle ( GP- Moriss and Hendrick ) while keeping the important Hurd, Soaker Hill and Renault Bay gold showings and the north-east extensions of the GP zone.

Since the management of Vantex did not intend to work in this area of the property, this option agreement offers Vanstar the opportunity to develop a less known area of the Galloway project that holds many gold and copper showings. Vantex prevents additional dilution if it were to explore this area.

The management of Vanstar is planning an initial drilling campaign on the Sandborn block in order to test structural targets linked to geophysics anomalies.

In order to acquire its interest, Vanstar will have to invest a total of 3 milion$ in exploration works over a period of 4 years, with a minimum of $500,000 in 2011-2012. Vanstar will have to invest another tranche of $500,000 in 2012-2013 and 1 million$ for each of the last 2 years. In the event that Vanstar completes its acquisition, a joint venture agreement will be signed. Vantex will act as project manager for the 4 years of the agreement. In the event that Vanstar does not complete its full commitment, Vanstar will not retain any interest in the areas designated in the agreement.

In the event that a third party makes an offer to option or to purchase the entire Galloway project, Vanstar agrees to sell all its interest if the offer is accepted by Vantex. Nevertheless, this offer will have to take into account the amount invested by Vanstar as well as the added value created by the exploration works done by Vanstar on the mining blocks. Vantex will also keep a first refusal right on the Vanstar optionned mining blocks.

This agreement is subject to the approval of the TSX Venture Exchange.

Works in progress

As previously announced, Vantex started a drilling program on the Moriss showing. As of now, ten holes are completed for a total of 2,200 metres. Six drill holes were completed in the the north part, to test the dip of the North zone that was previously intersected by drill holes VPE10-11 and VPE10-18 ( high grade area – see Press release ). These drill holes intersected highly mineralized zones where they were expected to be, but assays are still pending. Three drill holes were located South-west of the Moriss zone in order to test the south zones intersected by drill holes VPE10-19 and VPE11-24. Many mineralized zones were intersected in these holes, but assays remain pending. Another drill hole was completed in order to intersect the Moriss and South zones.

A geophysics survey (Mag and Gradient) was completed West of the Moriss area in order to link the current data to the West part of the property. The management of the Company also completed a striping and channel sampling campaign on the Hurd showing which is located 1.5 km from the GP zone (east extension). Results should be available in the coming weeks.

Several mineralurgic tests were also performed at URSTM ( Research Center of the Université du Québec, in Rouyn-Noranda ) in order to evaluate the gold ore extracted from the GP zone. Results are expected in the 2011 Fall. This new data will be included in the resource estimate done by Toronto's SRK consulting.

These works are under the supervision of Daniel Kelly, geologist and Qualified Person under NI-43-101. This press release was read and approved by Daniel Kelly.

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