Cantex Announces Shares for Debt

CANTEX MINE DEVELOPMENT CORP.

203-1634 Harvey Ave Kelowna, BC V1Y 6G2

CANTEX ANNOUNCES SHARES FOR DEBT

January 12, 2010, Cantex Mine Development Corp. (the "Company") (TSXV:CD). Further to its news release of December 30, 2009, the Company announces that it has issued 17,047,367 shares of the Company to Kel-Ex Development Ltd. (“Kel-Ex”), a company controlled by Dr. Charles Fipke, the Chairman of the Company, in settlement of $1,022,841.99 owing by the Company to Kel-Ex.

On behalf of the Board of Directors

“Chris Sammartino”

Chris Sammartino Secretary and CFO

Neither the 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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