Cantex Mine Development Intersects 6.0 m Of 14.05% Lead-zinc At Gz Zone On Cantex's 100% Owned North Rackla Project

Dr. Charles Fipke reports that the final 2021 drill results are now available:

GZ Zone Drill Results

Drilling at the GZ Zone continues to return high-grade intercepts of silver-lead-zinc mineralization. Further drilling from pad GZ02D, from which hole YKDD21-209 intersected 16.05 metres of 23.95% combined lead and zinc with 101g/t silver and 9.1m of 17.78% combined lead and zinc with 53g/t silver (see news release dated February 16, 2022), intersected 6.0 metres of 14.05% combined lead and zinc with 9 g/t silver in hole YKDD21-210. Drill pad locations are presented in Figure 1.

Drilling from pad GZ02E (hole YKDD21-213) intersected 4.5 metres of 17.63% lead-zinc and 28 g/t silver. Hole YKDD21-214 collared on pad GZ03E intersected 3.95 metres of 12.86% lead-zinc with 13 g/t silver (see Table 1).

Table 1. GZ Zone Drill Results.

Main Zone Drill Results

Drilling at the Main Zone continues to return high-grade intercepts of silver-lead-zinc mineralization. From pad MZ32 hole YKDD21-208 intersected 3.15 metres of 19.00% combined lead-zinc (see Table 2). Hole YKDD21-204 from pad MZ34 intersected a 1 metre interval containing 245 g/t silver and hole YKDD21-203 (pad 51A) intersected 3.4 metres of 13.39% combined lead-zinc.

Table 2. Main Zone Drill Results

Summary

The Cantex directors continue to be impressed with the quality of the mineralization being intersected at the GZ Zone, and that it is being intersected near surface. The 2022 drill program will commence here with two drills working to better define the orientation of the mineralization and extend it along strike.

Another drill rig is presently on the site of the high-grade copper anomaly (Anomaly G66) which will be drilled as soon as sufficient snow melts. Structural geologist Chris Buchanan will be geologic mapping to define drill targets on an additional high-grade copper, three high-grade gold and four high-grade silver-lead-zinc anomalous areas that surround the Main and GZ Zones of mineralization (see Figure 1 in Company's news release dated June 24, 2021).

Drilling at the Main Zone continues to demonstrate the large size of this mineralized body. Drilling this season will be focussed on extending the strike length beyond the 2.1km already drill proven.

Project staff will shortly be mobilizing to site to commence preparations for the start of drilling, which is expected to start in mid-May.

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 which were in turn placed into larger bags closed with security seals prior to being transported to CF Mineral Research Ltd. in Kelowna, BC.

At CF Minerals the drill core was dried prior to crushing to -10 mesh. The samples, which averaged over 3kg, were then mixed prior to splitting off 800g. The 800g splits were pulverized to -200 mesh and a 250g split was sent for assay. Quality control procedures included running a barren sand sample through both the crusher and pulveriser between each sample to ensure no inter-sample contamination occurred. Silica blanks were inserted along with certified reference samples. These quality control samples were each inserted approximately every 20 samples.

ALS Chemex in Vancouver assayed the samples using a four-acid digestion with an ICP-MS finish. The 48 element ME-MS61 technique was used to provide a geochemical signature of the mineralization. Where lead, zinc or copper values exceeded one percent the Pb-OG62, Zn-OG62 or Cu-OG62 techniques were used. These have upper limits of 20% lead, 30% zinc and 50% copper, respectively. Samples with lead and zinc values over these limits were then analyzed by titration methods Pb-VOL70 and Zn-VOL50. Where silver samples exceeded 100 g/t the Ag-OG62 technique was used which has an upper limit of 1,500 g/t. The over limit analyses contributed to delays in receiving final assay results.

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

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 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 and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than 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 management discussion and analysis section of the Company's interim and most recent annual 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.



Cantex Mine Development Corp., Tel: +1-250-860-8582; Email: info@cantex.ca