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Cantex Mine Development Corp. : Yukon Update

04/30/2012 | 02:42pm US/Eastern
203-1634 Harvey Ave Kelowna, B.C. Canada V1Y 6G2 Tel 250.860.8582

Fax 250.860.1362 www.cantex.ca info@cantex.ca

CANTEX YUKON UPDATE

Kelowna, Canada - 30th April, 2012 - Cantex Mine Development Corp. (CD : TSXV) ("Cantex" or the "Company") is pleased to report all analytical results are complete with respect to follow-up sampling of its two gold claim groups in central Yukon as well as its ~2,500 heavy mineral samples collected from un-staked land extending over 30,000 square kilometers. These samples were collected from areas underlain by favorable geology for Carlin-style gold deposits.

CAR Claim Group

The CAR claim group is located 25 kilometers east and up strike of Atac Resources's ("Atac") Osiris Carlin-style gold discovery. Ninety two bulk (+/- 10 kg) talus samples were collected within this claim group. Forty nine of the bulk samples were analyzed after screening, crushing and pulverizing whilst the remaining 43 were analyzed using the heavy mineral analysis procedures of CF Mineral Research Ltd. in Kelowna, BC for Carlin-style gold sampling.
Nineteen of the 49 pulverized talus samples were anomalous in key pathfinder elements for Yukon and
Nevada Carlin-style gold mineralization such as arsenic, antimony, thallium, etc. Thirty seven of the
43 talus samples processed using heavy mineral methods were found to be anomalous in key pathfinder elements. Three of the 37 samples anomalous in key pathfinder elements were also found to be weakly to strongly anomalous in gold.

LIN Claim Group

The LIN claim group is located 14 kilometers southeast of Atac's Tiger massive sulfide gold discovery. Four bulk (+/- 10 kg) heavy mineral samples were collected from gravels of major stream draining the claims. These were heavy mineral processed at CF Mineral Research Ltd. Three of the four samples contained anomalous (microgram) amounts of key pathfinder elements. Of the three samples anomalous in key pathfinder elements one sample's concentrate was moderately anomalous (4,720 ppb) in gold.

Regional Exploration Program

Cantex collected approximately 2,500 heavy mineral samples from 30,000 square kilometers of un- staked ground underlain by geology favorable for Carlin-style mineralization during the summer of
2011. Of these 150 samples were anomalous in both parts per billion ("ppb") and micrograms of gold;
87 samples are anomalous in both ppb and micrograms of key pathfinder elements for Carlin-style gold mineralization. Forty eight samples are anomalous in both parts per million and micrograms in all key pathfinders indicative of detecting Carlin-style mineralization both in Nevada and the Yukon.

Summary

Gold and key pathfinder elements for Carlin-style mineralization have been detected on both claim groups staked by Cantex in 2011. Additional sampling aimed at establishing drill targets on both sets of claims is being planned for this summer.
Eighty seven gold anomalies accompanied by key pathfinder elements (arsenic, antimony, thallium, etc) suggest that local rather than placer sources of gold have been detected. Forty eight samples are anomalous in all key pathfinder elements indicative of detecting new local sources of Carlin-style gold mineralization within the 30,000 square kilometers explored.
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, Cantex has six drill ready properties in Nevada along known trends of gold mines and is currently seeking joint venture partners to advance the projects. In Yemen, WCP Resources has optioned the Company's Al Hariqah gold project where delineation drilling continues.
For further information: Cantex Mine Development Corp, Tel: +250-860-8582, Email: info@cantex.ca

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.

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