Mr. Chad Ulansky reports

CRESCAT INCREASES INVESTMENT AND CANTEX UPSIZES PRIVATE PLACEMENT TO $5 MILLION

Further to its news release of July 11, 2025, due to added interest, Cantex Mine Development Corp. has elected to increase the amount of its previously announced private placement to $5-million. All other terms remain the same.

Cantex is pleased to announce that Crescat Capital has increased its participation in the placement to $800,000.

The company will be using the proceeds of the placement on its soon-to-commence summer drill program at North Rackla, where the company will be focused on expanding the mineralization at its zinc-lead-silver-germanium massive sulphide project and also testing new targets at its copper project, where previous drilling has intersected up to 7.32 per cent copper (see news release of April 13, 2023).

The offering

The offering will comprise a combination of charity flow-through units and hard units for total gross proceeds of $5-million. The charity flow-through units will be priced at 21 cents per unit, with each charity flow-through unit comprising one flow-through share and one non-flow-through warrant. Units will be priced at 14 cents per unit, with each unit comprising one common share and one non-flow-through warrant. Each whole warrant issued in connection with either a charity flow-through unit or a unit entitles the holder to acquire a non-flow-through share at a price of 21 cents for a term of three years. The offering is proposed to consist of 21,261,903 charity flow-through units and 3,821,429 units and remains subject to the acceptance of the TSX Venture Exchange.

About Cantex Mine Development Corp.

Cantex is focused on its 100-per-cent-owned, 20,000-hectare North Rackla project, located 150 kilometres northeast of the town of Mayo in Yukon, Canada, where high-grade massive sulphide mineralization has been discovered. Over 86,000 metres of drilling have defined high-grade silver-lead-zinc-germanium mineralization over 2.65 kilometres of strike length and at least 700 metres depth. The mineralization remains open along strike and to depth. The company is led by Dr. Charles Fipke, CM, the founder of Ekati, Canada's first diamond mine.

The technical information and results reported here have been approved by Chad Ulansky, PGeol, a qualified person under National Instrument 43-101, who is responsible for the technical content of this release. Mr. Ulansky is the company's president and chief executive officer.