Agoracom

Listing: TSX; symbol “ONT” Issued and Outstanding Common Shares: 69,616,090 London, Ontario, July 5, 2007 - Ontex Resources Limited is pleased to announce that it will begin a 1,200 meter diamond drilling program on its 100% owned Brookbank Gold Deposit in the Beardmore-Geraldton area of northern Ontario. The program is expected to commence in mid-July with a scheduled date of July 10th under the direct supervision of Armen Chilian, a qualified person under NI 43-101. Ontex’s geologists have recommended that the peripheral area around the main Brookbank Gold Deposit is an important area for mine development. This drill program will focus on an area above the main Brookbank Deposit in preparation for a bulk sample that would be taken via decline into the main zone. If successful, the indicated resource in the area planned for ramp access will extend into that of the previous program (Jan. 18, 2007) and add certainty for upcoming exploration on the Brookbank Gold Deposit. Ontex will employ a QA/QC program consistent with National Instrument 43-101 and industry best practices. The drill core will be logged and split on site and half-core samples analyzed employing the appropriate gold fire assaying techniques at Accurassay Laboratories. The drill contractor will be NorthStar Drilling Limited. JOINT VENTURE DISCUSSIONS Ontex has been engaged in ongoing discussions with a number of mid cap and senior possible joint venture partners in respect of the Brookbank Gold Deposit. Through these discussions, over the last 5 months, Ontex has received proposals for joint exploration and development of the deposit and is also awaiting further proposals. Ontex’s management is reviewing each proposal and will make further announcements with regards to its discussions. Investors are also asked to visit the Ontex IR Hub at http://www.agoracom.com/IR/Ontex where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time. Alternatively, investors are able to e-mail all questions and correspondence to ONT@Agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time. ABOUT ONTEX RESOURCES LIMITED (www.ontexresources.com) Ontex Resources Limited is a junior resource company listed on the Toronto Stock Exchange under the symbol “ONT” engaged in gold exploration principally on its Brookbank Gold property in northern Ontario. For further information, please contact: Gary Conn, President and CEO, Phone (Tel. (519) 455-8127) Email (info@ontexresources.com), Website (www.ontexresources.com). AGORACOM Investor Relations Investor Relations Email: ONT@Agoracom.com Website: http://www.agoracom.com/IR/Ontex Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements". The words "expect", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to a significant business, economic and competitive uncertainties and contingencies. Ontex cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Ontex to be materially different from its estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold and currencies; charges in U.S. dollar interest rates or gold lease rates; risks arising from holding derivative instruments; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves; adverse changes in our credit ration; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in the Company's most recent Annual Information Form on file with the Ontario Securities Commission and other provincial securities regulatory authorities (please see www.sedar.com). Ontex disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. The TSX does not accept responsibility for the adequacy or accuracy of the information contained in this news release.