CANTEX ANNOUNCES GRANT OF STOCK OPTIONS

Cantex Mine Development Corp. (TSXV: CD,OTC:CTXDF) (OTCQB: CTXDF) (the “Company”) announces that, in accordance with the Company’s stock option plan, it has granted an aggregate of 2,100,000 options to certain directors, officers and advisors of the Company. The options are exercisable at a price of $0.30 and have a term of seven years ending on January 16, 2033. The options also vest in their entirety at the end of five years, except that if an option holder ceases to be a bona fide service provider prior to the vesting of its options, a pro rata portion of such option holder’s options will vest and the remainder will be canceled.

Signed,

Chad Ulansky

Chad Ulansky
Chairman & CEO

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. The information in this press release includes forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future events and not to past events. In this context, forward-looking statements often relate to expected future business and financial performance and often include words such as “anticipate,” “believe,” “plan,” “estimate,” “expect” and “intend,” statements that an action or event “may,” “might,” “could,” “should” or “will” occur or other similar expressions. All statements, other than statements of historical fact, contained herein are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the management discussion and analysis section of the Company’s interim and most recent financial statements or other reports and filings with Canadian securities regulators. Forward-looking statements are made based on the beliefs, estimates and opinions of management on the date the statements are made, and the respective companies undertake no obligation to update any forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned not to place undue emphasis on forward-looking statements.

SOURCE Cantex Mine Development Corp.

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