CD.V · 2017-06-28 12:00:00

Cantex provides update on North Rackla claims, Yukon

Corporate Updates

KELOWNA, BC

June 28, 2017

/CNW/ -

Cantex Mine Development Corp.

(CD: TSXV) (the "Company") is pleased to announce its

summer program on its North Rackla claim group in the

Yukon

Gold Targets

Cantex is planning to drill the Northern gold - lead - zinc - silver area with a core drill rig which is already positioned on its 100% owned North

Rackla project. An initial five inclined holes are planned to penetrate a sandy bedded dolomitic capping rock unit into a mineralized stromatolitic

dolomite unit. Trench, grab and float samples from the mineralized dolomite unit have previously assayed as high as 15.75 g/t gold, 11.0% lead,

32.5% zinc and 169 g/t silver.

Additional prospecting, soil-talus sampling and trenching is planned for four target areas that have preciously yielded anomalous gold values in soil-

talus and rock samples.

Massive Silver, Lead, Zinc, Copper and Manganese Targets

Drilling of eight inclined core holes into the copper - lead - zinc - silver - manganese oxidized massive sulphide mineralization last fall indicates that

the mineralization increases in grade and width with depth (see cross sections on

www.cantex.ca

). Thus, Cantex geologists expect that deeper

drilling into the 80

northwest dipping mineralization should result in increased unoxidized grades and thicknesses over and above the deepest

mineralized intervals intersected to date. This interval occurs in hole YKDD-0006 which include 4.05m (from 22.95m) of 21.1 g/t silver, 2.12%

lead and 1.79% zinc; 5.7m (from 33.0m) of 137 g/t silver, 2.8% lead and 0.83% zinc; and 4.4m (from 43.7m) of 49 g/t silver, 5.35% lead and

5.99% zinc.

However, an analysis of the soil and rock geochemical results of the 3,000m long anomalous massive sulphide zone indicates that the most

anomalous copper areas correspond with the most anomalous areas of manganese, silver and lead. The highest zinc anomalies accompanied with

lead are typically peripheral to the areas most anomalous in copper, manganese, silver and lead. These results are consistent with the interpretation

that areas most anomalous in copper, manganese, silver and lead represent the original fault controlled vents from which the mineralizing fluids

ascended and precipitated the sulphide mineralization in shallow marine conditions.

Within the 3,000m strike length there are seven areas of highly anomalous copper, manganese, silver, lead and zinc in soil-talus which represent

drill targets most likely to intersect the highest metal tenor. The soil-talus results have also identified a second parallel anomalous zone 1,200

meters northwest of the originally identified zone that contains an additional four strongly anomalous copper, manganese, silver, lead and zinc drill

targets.

The highest copper, manganese, silver, lead and zinc results in soil-talus and rock samples within the zone occur 2,000m along strike to the

northeast of where the drilling was conducted last fall. Trenching of this area last year yielded two parallel oxidized zones separated by

approximately 10m. The first zone contained 15.7m of 36 g/t silver, 7.04% lead and 1.85% zinc including a 3m interval containing 107 g/t silver,

20.25% lead and 2.39% zinc. The second 5.6m zone yielded 54 g/t silver, 0.48% copper and 1.95% zinc including a 1.6m interval assaying 124

g/t silver, 1.01% copper and 2.40% zinc.

Cantex anticipates drilling into this zone which locally gives the highest copper, manganese, silver, lead and zinc soil-talus results of the entire

survey. By drilling an inclined hole southeasterly through talus below this massive sulphide outcrop (NE-SW striking, 80

NW dipping) Cantex

geologists expect to intersect fresh massive sulphide mineralization.

Cantex is presently seeking joint venture partners to earn interests by contributing towards funding the scheduled drill programs.

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

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

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included herein including, without limitation; statements about the terms and completion of the proposed sale transaction 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 management discussion and analysis section of the Company's interim and most recent annual financial statement

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 undertakes 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: http://www.newswire.ca/en/releases/archive/June2017/28/c5413.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 28-JUN-17

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