Joint Venture Presentations in Progress, Additional Sulphide Mineralization Intersected at the Suwar Nickel-Copper-Cobalt Project



    KELOWNA, BC, Jan. 17 /CNW/ - Cantex Mine Development Corp (CD - TSX
Venture Exchange) ("Cantex" or the "Company").

    Cantex is pleased to report that it has received interest from several
large to very large mining companies in entering into joint ventures on
several of the Company's exploration projects. The last samples from 77 holes
drilled at the Al Hariqah gold deposit are being sent out for analysis and
sulphide mineralization has been intersected at the Suwar nickel-copper-cobalt
project in Yemen.

    
    1.  Nevada Gold - USA

        Claims were renewed for the 13 potential new discoveries on six claim
        groups in Nevada. Applications to drill three of the claim groups
        have been approved by the Nevada government authorities.
        Presentations have recently been given to several large to medium
        sized companies now mining gold in Nevada with respect to possible
        joint ventures with Cantex on the Nevada properties.

    2.  Al Hariqah Gold - Yemen

        259 split core samples from 16 drill holes and 469 percussion chip
        samples from 18 drill holes were received in Canada and are being
        shipped to Chemex Laboratories for analysis for gold. These samples
        are the last samples from a total of 77 drill holes drilled on the
        property.

        Presentations have been given to several companies possibly
        interested in joint venturing with Cantex on Al Hariqah. One very
        progressive gold miner visited Al Hariqah in December of 2007 and
        another large company is scheduled to visit in January of this year.

    3.  Suwar Nickel-Copper-Cobalt Massive Sulfide Deposit - Yemen

        Core drilling has recommenced on the Suwar nickel-copper-cobalt
        massive sulfide deposit. Geologist Sean Crowe, who has formerly
        worked for Inco on nickel in Canada, has been hired on a full-time
        basis to manage the project. He reports that to date four of 26
        planned core holes have been drilled. These have intersected massive
        to greater than 30% sulfides over total core intersections of 0.46m,
        18.51m and 21.96 meters respectively. The hole containing the
        21.96 meter intersection is currently being extended. A replacement
        motor for the second drill rig has now arrived in Yemen allowing two
        core rigs to be utilized to complete the planned drilling at Suwar.

        Several presentations have been given to quality moderate to very
        large sized mining companies interested in possible joint ventures.
        Two of these visited the Suwar property in December 2007 and another
        two are scheduled to visit in January 2008.
    

    Cantex is pleased with the continued intersection of sulphide
mineralization at its Suwar project. The Company has presented its Nevada gold
and Yemen gold and base metal projects to significant mining companies with
the view to attracting joint venture partners with the technical and financial
capacities to conduct advanced exploration, feasibility studies and mine
development.
    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 culansky@cantex.ca

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