Cantex re-evaluates mineralization at Wadi Qutabah



    KELOWNA, BC, June 14 /CNW/ - Cantex Mine Development Corp (CD - TSX
Venture Exchange) ("Cantex" or the "Company").

    The Company is pleased to report that improved market conditions have
increased the potential of its Wadi Qutabah project in Yemen. Cantex is
currently drill testing Wadi Qutabah.
    Previous work at Wadi Qutabah has identified 5 flat lying horizons of
massive and disseminated sulphide mineralization that outcrop over an area of
up to 15 square kilometers. The apparent thickness of the disseminated
sulphide mineralization varies from 1 to 20 meters both within and between
horizons. Massive sulphides are seen in outcrop within three of the horizons
and vary from 0.2 to 3.0 meters in thickness.
    Results of grab samples from the sulphide horizons were previously
reported on August 23, 2001 and they are presented again in the following
table with values per ton determined using current metal prices. The samples
were collected over a 3300 meter portion of the outcropping sulphide
mineralization of the third horizon.

    
    -------------------------------------------------------------------------
    Sample           Nickel          Copper         Cobalt     Value per ton
    -------------------------------------------------------------------------
                        %               %              %            USD
    -------------------------------------------------------------------------
    YRX 5543          0.693           0.066          0.163         $  329.05
    -------------------------------------------------------------------------
    YRX 5668          0.353           0.185          0.101         $  181.92
    -------------------------------------------------------------------------
    YRX 5670          0.368           0.272          0.121         $  196.32
    -------------------------------------------------------------------------
    YRX 5709          0.403           0.104          0.149         $  203.15
    -------------------------------------------------------------------------
    YRX 5710          0.261           0.258          0.077         $  142.88
    -------------------------------------------------------------------------
    YRX 5718          0.342           0.108          0.088         $  168.96
    -------------------------------------------------------------------------
    

    Cantex is currently conducting a core drilling program at Wadi Qutabah.
Eight holes of a 10 hole program are now complete. Six of the holes test an
area where heavy mineral samples from three adjacent streams returned the
highest PGE concentrations of any samples collected within the 52,000 km2
explored by Cantex within Yemen. The other four holes are designed to test the
continuity of the base metal mineralization, particularly of the third
horizon.
    The core from the drilling completed at Wadi Qutabah will be shipped to
Canada for preparation and analysis.
    The strengthened global market for base metals has dramatically changed
the potential economics of the project. Should a 1 meter thick zone of
sulphide mineralization containing 0.5% nickel be found over an area of
15 square kilometers it would contain US$ 14 billion worth of nickel.
    Upon completion of drilling at Wadi Qutabah the drill will be moved to
the Suwar nickel-copper-cobalt project where it will commence a 14 hole
program designed to further define the massive sulphides previously
encountered by drilling.
    This press release has been prepared by Dr. Charles Fipke, a Qualified
Person.

    Signed,

    Chad Ulansky

    Chad Ulansky
    President and Geologist


    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00010333E




For further information:

For further information: Cantex Mine Development Corp., 2600 B
Enterprise Way, Kelowna, BC, V1X 7Y5, Tel (250) 860-8582, Fax (250) 860-1362,
Email cantex@shaw.ca

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