LA PRAIRIE, QUEBEC--(Marketwire -01/16/12)- The management of Vantex Resources Ltd. ("Vantex") (TSX-V: VAX.V - News)(Frankfurt: UD7A.F - News)(ALPHA: VAX.V - News) announces the signing of an option agreement on its Guillet and Ortona properties located in the Belleterre township, in Abitibi.
Aurtois Exploration Inc. ("Aurtois") (TSX-V: EXA) will have the option to acquire 100 % of the Guillet and Ortona properties by fulfilling the following conditions :
Aurtois can acquire a 75 % interest in exchange for :
-- A sum of $120,000 payable to Vantex in monthly payments of $10,000,
starting at the signing of the agreement;
-- The issuance of 4,500,000 common shares of Aurtois for the benefit of
-- The delivery of a prefeasibility study on either one of the properties,
presented within 5 years from the date of signing of the agreement.
Aurtois can acquire the remaining 25 % interest in exchange for :
-- A sum of $2,000,000 payable to Vantex and a 1 % NSR royalty on the
Guillet property as well as a 1 % NSR on the Ortona property for the
benefit of Vantex. The previous owners will receive a 3 % NSR royalty on
the Guillet property and a 1 % NSR on the Ortona property. The Vantex
NSR can be bought back for $2,000,000 on each of the two properties.
Aurtois can acquire this remaining 25 % interest within a period of 5
This transaction is subject to the approval of the regulatory authorities. This agreement in principle will be finalized by a legal contract to be signed before mid-February.
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.