Mr. Chad Ulansky reports

CANTEX UPDATES PROGRESS ON YUKON AND AL HARIQAH PROJECTS

Cantex Mine Development Corp. is providing an update on the progress on the Yukon and Al Hariqah projects.

Nevada gold projects

In Nevada, the company has conducted an extensive exploration program. Initially, sampling surveys were conducted over known gold mines in Nevada to assess their geochemical signatures. A distinctive suite of pathfinder elements was found to accompany many of the mines. With this knowledge a regional geochemical survey was conducted over the significant gold mine trends in Nevada. Numerous similar geochemical signatures were found and claims were then acquired over these areas. Once the lands were staked, focused exploration was undertaken; the anomalies were followed up with geological mapping, soil sampling, rock sampling, trenching and geophysics.

Six of the properties contain drill-worthy targets. The company is currently seeking a joint-venture partner to earn an interest in the project by financing drill testing of these targets.

Al Hariqah gold project

Company president, Chad Ulansky, and a representative of WCP Resources recently visited Yemen and are pleased to report that the exploration licence containing the Al Hariqah project has been renewed under the new Yemeni mining code. The new licence is valid for an initial four-year period and can be renewed for two further four-year periods. Cantex is pleased to have secured this lengthy title for the project as it will allow time for the extensive drill program required to assess the scale of the gold mineralization and subsequent feasibility studies at Al Hariqah.

In addition, the licence has been expanded from its original 71 square kilometres to 956 square km. The new licence area covers a trend of gold anomalies discovered by Cantex's regional exploration program which could reflect additional mineralization similar to that found at Al Hariqah.

A second core drill rig has been mobilized to Al Hariqah to assist with the continuing drill program. This drill program is being overseen by Yemeni geologist Abdul Moain Al Shybani and Canadian geologist Graham Janson.

Yukon gold project

During 2011, the company collected 2,315 heavy mineral samples from areas underlain by geology prospective for Carlin-type gold mineralization in the Yukon. C.F. Mineral Research has commenced heavy mineral processing of all of these samples. An additional 119 follow-up samples were collected to test the company's claims along strike from Atac Resources Ltd.'s Osiris Carlin-type gold discovery. To date, 1,965 of the exploration samples have been submitted for assay, and complete results have been received for 722 of these samples. Seventy-one samples are anomalous for gold. Twenty samples are anomalous in the full suite of key pathfinder elements characteristic of Carlin-type gold mineralization in the Yukon. These and forthcoming results will be used to guide the acquisition of claims and a future exploration program.

Cantex looks forward to the continued progress on its Al Hariqah and Yukon gold projects.