CD.V · 2024-02-09 12:00:00

Cantex Confirms Elevated Germanium Results Along Entire Main Zone Strike Length ON Its 100% Owned North Rackla Project, Yukon

Exploration Programs

CANTEX CONFIRMS ELEVATED GERMANIUM

RESULTS ALONG ENTIRE MAIN ZONE

STRIKE LENGTH ON ITS 100% OWNED

NORTH RACKLA PROJECT, YUKON

KELOWNA, BC

Feb. 9, 2024

/CNW/ -

Cantex Mine Development Corp.

(TSXV: CD) (OTCQB:

CTXDF) (the "Company") is pleased to provide an update on its 100-percent-owned 14,077 hectare

North Rackla claim block in the

Yukon

Map 1.

Distribution of Germanium Results. (CNW Group/Cantex Mine Development Corp.)

Dr.

Charles Fipke

reports

Main Zone Germanium Results

455 germanium results have been received for drill core from 61 intercepts drilled from 31 pads

spanning the entire 2.35 kilometer drill confirmed strike length of the Main Zone silver-lead-zinc-

germanium mineralization at North Rackla.

These results are presented in Table 1.

Table 1. Germanium results from the Main Zone

Pad

Hole

Depth

(m)

Germanium

(grams/tonne)

Number of analyses

MZ03

YKDD19-055

347.40

161

MZ04

YKDD19-067

195.40

1595

MZ06

YKDD18-016

108.02

595

MZ05X

YKDD19-125

283.48

182

MZ05X

YKDD19-127

372.50

952

MZ05X

YKDD19-139

417.70

438

MZ07

YKDD19-025

116.80

307

MZ07

YKDD19-027

136.25

1095

MZ07X

YKDD20-173

341.65

1024

MZ09

YKDD19-032

127.45

475

MZ09

YKDD19-037

143.30

525

MZ10

YKDD19-033

181.35

702

MZ16

YKDD19-097

110.55

2082

MZ17B

YKDD19-069

15.35

1287

MZ26

YKDD19-058

210.40

284

MZ27

YKDD19-083

129.75

1264

MZ27

YKDD19-087

165.25

574

MZ29

YKDD19-150

189.00

MZ31

YKDD19-148

111.35

222

MZ31

YKDD19-154

299.00

1365

MZ31

YKDD21-211

267.35

285

MZ32

YKDD19-107

411.80

638

MZ32

YKDD19-112

249.75

612

MZ32

YKDD19-117

309.50

134

MZ32

YKDD21-208

232.80

549

MZ33

YKDD19-149

238.25

981

MZ33

YKDD20-182

179.15

MZ33

YKDD23-285

430.65

467

MZ33

YKDD23-285

536.95

637

MZ34

YKDD19-153

300.45

665

MZ34

YKDD19-156

278.10

1244

MZ34

YKDD20-157

348.00

421

MZ35

YKDD20-166

286.90

399

MZ35

YKDD20-168

411.80

568

MZ35

YKDD20-170

598.85

1295

MZ37B

YKDD19-141

156.45

777

MZ39B

YKDD19-121

35.45

457

MZ42

YKDD19-143B

195.18

119

MZ43

YKDD19-138

172.35

462

MZ-43B

YKDD19-142

250.40

156

MZ51A

YKDD21-197

235.75

715

MZ51A

YKDD21-203

367.00

224

MZ52

YKDD22-248

68.00

610

MZ52

YKDD22-252

64.20

1326

MZ52A

YKDD22-243

186.70

656

MZ53A

YKDD22-250

165.25

119

MZ53A

YKDD22-253

174.55

1370

MZ53A

YKDD22-255

202.00

633

MZ53A

YKDD22-257

222.20

1031

MZ53A

YKDD22-258

230.60

720

MZ53A

YKDD22-260

174.75

857

MZ54

YKDD23-279

88.75

398

MZ54

YKDD23-281

86.00

300

MZ54

YKDD23-282

112.45

404

MZ54A

YKDD22-254

151.55

529

MZ55

YKDD22-263

70.00

482

MZ55

YKDD22-265

91.00

1251

MZ55

YKDD22-266

74.80

378

MZ55A

YKDD22-267

159.20

382

MZ55A

YKDD22-269

185.40

1512

MZ55A

YKDD22-271

198.20

496

The average of these 61 intercepts is 663 grams per tonne germanium in sphalerite. When

combined with the previously analyzed 36 intercepts the average is 654 grams per tonne

germanium. The distribution of the new germanium results within the Massive Sulphide project is

shown in Map 1.

GZ Zone Germanium Results

At the GZ Zone 57 analyses were received from 9 intercepts which averaged 427 grams per tonne

germanium in sphalerite. When combined with the previously received results from five intercepts

the average germanium content is 521 grams per tonne.

These results are presented in Table 2 below.

Table 2. Germanium results from the GZ Zone

Pad

Hole

Depth

(m)

Germanium

(grams/tonne)

Number of analyses

GZ01D

YKDD22-222

15.55

613

GZ02

YKDD20-176

86.45

426

GZ02B

YKDD20-179

66.35

1037

GZ02D

YKDD21-210

25.50

104

GZ02E

YKDD21-213

40.15

269

GZ02.5C

YKDD22-223

77.15

130

GZ02.5C

YKDD22-224

43.75

335

GZ02.5C

YKDD22-226

55.25

220

GZ02.5C

YKDD22-228

62.75

709

Germanium Market

Germanium continues to be a metal of prime importance for the west.

China

, which currently

supplies 83% of the world's germanium, is now restricting exports to

the United States

and western

markets. Germanium is a valuable metal, currently selling for

US$1.32

per gram (

February 7, 2024

;

Trading Economics;

https://tradingeconomics.com/commodity/germanium

There are few western sources of germanium, the most significant being ore from Teck's Red Dog

Mine in

Alaska

which is processed at the Trail smelter in British Columbia. It is apparent that

western nations will need to find additional sources of germanium.

Summary

Cantex's directors are pleased that the Massive Sulphide project contains very high germanium

values along the 2,350 metres of strike length tested to date. The average germanium content of

sphalerite from the Main Zone is 654 grams per tonne while the average germanium content of the

GZ Zone is 521 grams per tonne. The project shows potential to be a much-needed western source

of the Critical Metal germanium.

Sample Preparation

The drill holes reported in this press release were drilled using HQ (63.5mm) diamond drill bits. The

core was logged, marked up for sampling and then divided into equal halves using a diamond saw on

site. One half of the core was left in the original core box. The other half was sampled and placed

into sealed bags. Core samples averaged over 3kg in weight.

For germanium analyses a piece of split core approximately 15cm in length containing sphalerite was

selected and submitted to CF Mineral Research Ltd. From the selected location a piece of a thin

slice of core was mounted in epoxy, polished, carbon coated and mapped using a scanning electron

microscope to select sphalerites for analysis. The samples were then sent to UBC Okanagan for

germanium analysis using laser ablation inductively coupled plasma mass spectroscopy (LA-

ICPMS). A 100 micron spot size was used and NIST610 and 612 reference materials were used as

standards.

The technical information and results reported here have been reviewed by Mr.

Chad Ulansky

P.Geol

., a Qualified Person under National Instrument 43-101, who is responsible for the technical

content of this release.

Signed,

Charles Fipke

Dr.

Charles Fipke

, CM

Chairman

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. Information set forth in this news release includes forward-looking statements under

applicable securities laws. Forward-looking statements are statements that relate to future, not

past, events. In this context, forward-looking statements often address expected future business

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statements of historical fact, included herein are forward-looking statements. By their nature,

forward-looking statements involve known and unknown risks, uncertainties and other factors

which may cause the 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, risks identified in the

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financial statements or other reports and filings with Canadian securities regulators. Forward

looking statements are made based on management's beliefs, estimates and opinions on the date

that statements are made and the respective companies undertake no obligation to update forward-

looking statements if these beliefs, estimates and opinions or other circumstances should change,

except as required by applicable securities laws. Investors are cautioned against attributing undue

certainty to forward-looking statements.

SOURCE

Cantex Mine Development Corp.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/February2024/09/c2080.html

%SEDAR: 00010333E

For further information:

Cantex Mine Development Corp, Tel: +1-250-860-8582; Email:

[email protected]

CO: Cantex Mine Development Corp.

CNW 09:00e 09-FEB-24

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