Cantex Provides Yukon Field Program Update

KELOWNA, BC, July 25, 2016 /CNW/ - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to announce the progress of the 2016 Yukon summer exploration program.  This program focused on the 100% owned North Rackla claim block in central Yukon.

Yukon Summer Program - Phase One

Cantex is pleased to report that the first phase of field work for the summer program in the Yukon is now complete.  Four areas were selected for detailed infill soil-talus sampling to assist in defining the bedrock source of previously identified geochemical anomalies.  In addition, two target areas were trenched to allow the collection of in situ samples to assess the tenor and distribution of mineralization at surface.  An initial batch of soil-talus and rock samples were expedited to CF Mineral Research Ltd for sample preparation.  This preparation is now complete and these samples have now been shipped to ALS Chemex Ltd for analysis.  The remaining samples from the program have now arrived at CF Mineral Research and are to be immediately prepared for analysis.

Prospecting of previously identified anomalies focused on defining in situ mineralization and also extending previously identified mineralization.  Geological mapping was also undertaken on two scales; on a regional scale to provide an understanding of the geological framework of the claims area and also on a detailed scale to understand the local controls on the mineralization.

It is expected that the results of this work will assist in defining drill targets for a planned late summer drill program.

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

About the Company

Beyond the Yukon project Cantex has projects in Yemen and Nevada.  In Yemen operations at the advanced Al Hariqah gold project are currently suspended and held by Cantex in Force Majeure.  In Nevada, the Company has five drill ready properties along known trends of gold mines and is currently seeking joint venture partners to advance the projects.

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.

Cantex Mine Development Corp, Tel: [phone], Email: [email protected]