Cantex Yukon Update

KELOWNA, BC, May 7, 2013 /CNW/ - Cantex Mine Development Corp. (CD : TSX-V) (the "Company") is pleased to report the progress on its gold project located in the central Yukon.

Analytical results from 1,386 heavy mineral samples collected during 2012, to define the source of anomalies identified in 2011, have been received. Several areas have been defined that are anomalous in all of the key Carlin-style gold pathfinder elements. Arrangements are now in process to acquire these areas.

Case studies completed on more than 15 Carlin-style heap leach gold deposits in Nevada and the Yukon show this same proprietary combination of key pathfinder elements are in all cases anomalously present in the heavy mineral concentrates of samples collected down-stream.

In addition to these new areas discovered in 2013, seven areas similarly anomalous in the full suite of key pathfinder elements were staked in 2012. About 35,000 soil-talus samples need to be collected and analyzed to establish core drill targets in these areas. The soil-talus samples will also be collected, prepared and analyzed in the same proprietary way as found to be effective in detecting heap leach mines and gold deposits of economic potential in Nevada and the Yukon.

The Company has approached two, first-class potential joint venture partners about the possibility of earning interests in the projects by funding exploration. Both partners are interested but, as of yet, no definite arrangement has been made.

The technical information and results reported here have been reviewed by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release.

Signed,

Charles Fipke

Charles Fipke
Chairman

Forward Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties.  Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks.  The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements.  Metalex undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

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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