Cantex Yemen update

KELOWNA, BC, May 2, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSX-V) (the "Company") is pleased to provide an update on its exploration project in Yemen.

Al Hariqah Gold Project

The Company's partner on this project, WCP Resources Ltd. ("WCP"), has filed their quarterly report for the period January-March 2013 with the Australian Securities Exchange. Highlights of this report include:

  • Drilled four holes for 538m as part of a limited ongoing drilling program. Two drill rigs were operating during the quarter. 

  • Appointed Mr. Mohamed Farghally as Exploration Manager for the Al Hariqah Project. Mr. Farghally is a gold exploration geologist with over 15 years' experience and most recently was Chief Production Geologist at the Sukari Gold Mine in Egypt, which has gold reserves of over 10 million ounces.

  • WCP will now look to accelerate its exploration efforts at the Al Hariqah Project, which will involve an expanded drilling program and the shipment of a backlog of drill samples requiring assay, using a combination of local sample preparation and offshore assaying.

  • Results from the ongoing drilling program, together with extensive previous drilling, will provide a solid base for an updated geological model for the Al Hariqah Project and, if appropriate, the Company will look to prepare an initial Mineral Resource estimate in accordance with the JORC Code.

Signed,

Charles Fipke

Charles Fipke
Chairman

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.

SOURCE: Cantex Mine Development Corp.

For further information:

Cantex Mine Development Corp, Tel: +250-860-8582, Email: info@cantex.ca


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