Cantex Clarifies Consolidation

203-1634 Harvey Ave Kelowna, B.C. Canada V1Y 6G2 Tel 250.860.8582 Fax 250.860.1362 www.cantex.ca [email protected]

CANTEX CLARIFIES CONSOLIDATION

Kelowna, British Columbia, Canada – January 4, 2016 - Cantex Mine Development Corp. (TSXV: CD) (the "Corporation") wishes to clarify the intentions of the Corporation in seeking shareholder approval to a share consolidation (the “Consolidation”), as detailed in the Corporation’s news release of December 31, 2015. While the Corporation will seek shareholder approval to the proposed Consolidation at its January 22, 2016 annual meeting, as required under the Alberta Business Corporations Act, the Corporation has no current intention of proceeding with such Consolidation. Rather, it wishes to have shareholder approval in hand in case circumstances arise in the future where the board of directors of the Corporation determines that a Consolidation is in the best interests of the Corporation’s shareholders.

ON BEHALF OF THE BOARD

Charles Fipke Chairman

For Further Information Please Contact:

Cantex Mine Development Corp.

Tel: +250-860-8582.

Email: [email protected]

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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