Vantex Oil, Gas and Minerals Ltd: Spectacular Gold Discovery in Temiscamingue Area, Quebec

ROUYN-NORANDA, Quebec--Feb. 2, 20045, 2004--Under the supervision of Mr. Daniel Kelly, an independent consulting engineer for Vantex Oil, Gas and Minerals Ltd,(TSX VENTURE:VTX) drill hole LE04-70, that was targeted to test the nature of the gold mineralization encountered on line 1+50 West (BC zone) during previous drilling programs, intersected, from 7.0 meters to 20.3 meters, a sheare zone hosting a mineralized sheared breccia with certain characteristics uncommon to the other previously encountered gold zones of the area. Containing from 10 to 25% semi-massive sulfides, mainly pyrrhotite, pyrite with traces of sphalerite and galena and free gold, this new and important gold structure is located 100 meters South of the BC gold zone, which has been the object of an intensive exploration program since last fall.

In an attempt to ensure the quality of the reference samples, some of the drill core of this mineralized structure was transported to Rouyn-Noranda and sawed in half in the laboratory of the local office of the Ministry of Natural Resources of Quebec. The samples to be assayed were sent at Laboratoire Expert Inc., of Rouyn-Noranda; these were assayed under the supervision of Mr. Joe Landers. Since many of the samples contained visible gold, Vantex management asked that metal assays be performed for more accurate evaluation and to prevent "nugget effect". The core samples are kept at the company's core shack, in Rouyn-Noranda, and can be observed at any time.

To date, the company received gold metal assays from 12 consecutive samples along the mineralized zone. The 13.3 meter long zone assayed 40.75 gAu/mt (1.31 ozAu/mT along a 43.6 feet section)

Hole            Location      Azimuth     Inclination          Length
                            (degrees)       (degrees)        (meters)
LE04-70   0+25N / 1+72 W           50             -45             131

Hole        Intersection    Au Grades       Au Grades          Length
                (meters)  ( gr / mt )  ( ounce / mt )  ( meters/feet)

LE04-70    7.00 to 20.30        40.75           1.310    13.30 / 43.6

Including  8.20 to 18.35        52.68           1.694    10.15 / 33.3
           8.20 to 11.00        47.54           1.529      2.80 / 9.2
          12.50 to 18.35        68.50           2.203     5.85 / 19.2
Including 13.65 to 14.80       127.31           4.094     1.15 / 3.77
          14.80 to 15.90       118.03           3.795     1.10 / 3.61

Company management is very impressed and happy with these spectacular results. This confirms, once more, the immense gold potential of the Guillet property.

This new gold-bearing structure is located along a zone of sheared breccia (35 degrees to CA) and contains an average of 25 to 30% fragments of felsic composition. The breccia has been injected with, possibly folded, quartz-carbonate-chlorite veins, lying at an angle of 0 to 15 degrees to the core axis. The mineralized zone was intersected at an approximate depth of 12 meters; it could possibly extend to the surface. An extensive stripping and drilling program will be started in the coming weeks in an attempt to establish the strike and dip of the new structure.

ABOUT VANTEX OIL, GAS AND MINERALS LTD

Vantex Oil, Gas and Minerals Ltd is a gold exploration company with properties in the Temiscamingue area, in Quebec. Listed on the TSX Venture Exchange under the symbol VTX, the company has 22.6 million shares issued and outstanding and has no debt.

The Guillet property

The Guillet property is located in Temiscamingue, Quebec, 5 kilometers from the town of Belleterre. The main Lake Expanse zone, which is at the center of the property, is located 300 meters from the main road and from electric lines. The Guillet property is at the South and East frontier of the former Belleterre mine, which produced in its minelife, more than 2.2 million tons at more than 10 grams of gold per ton. Originally composed of 16 claims (approx. 640 acres), the company acquired in the last months, adjacent properties, and now has 95 claims for a total area of 3,500 acres.

Vantex began its exploration program on the Guillet property during the spring of 2003 along zone A. Since then, five additional gold zones have been identified. (Zones AB, B, BC, C and D) Since last fall, the company focused on zones B and BC. Close to 5,500 meters of drilling was carried out along 76 holes. The majority of the holes intersected mineralized structures of economical to sub-economical grades. The main gold structure appears to be laterally folded along a strike length of 350 m. The average thickness of the alteration zone is about 20 meters.

In the coming weeks, a mandate will be given to an engineering firm to evaluate the mining potential of the gold zones.

By consulting our website ( www.vantexgoldshow.com ), you can access all the information on the company.

Source : Mr. Denis Belisle, executive secretary 450-444-9753

Mr. Daniel Kelly, independent consulting engineer