Cantex drills 13.5 m of 1.26 g/t Au at Al Hariqah

2009-01-28 13:20 ET - News Release

Mr. Chad Ulansky reports

CANTEX ANNOUNCES PROGRESS ON YEMEN PROJECTS

Cantex Mine Development Corp. has made progress on its Suwar nickel-copper-cobalt project and Al Hariqah gold project.

Suwar nickel-copper-cobalt project

As announced in Stockwatch on Nov. 20, 2008, the company's nickel-copper-cobalt projects in Yemen have been optioned to Vale International SA, a wholly owned subsidiary of Companhia Vale do Rio Doce. Vale International has a work commitment of $2-million (U.S.) to be spent by Aug. 31, 2009, and its geological teams have now commenced work. They currently have both geologists and a geophysicist on-site at Suwar.

All existing drill collars have recently been resurveyed with the objective of preparing a topographic base map. This base map will be used for modelling purposes and planning an upcoming drill program.

Al Hariqah gold project

The final results from the previous round of drilling at Al Hariqah have been received. Previously unreported highlights are presented in the table.

    
Hole           Length          From            To          Gold 
                                                          grade
                   (m)           (m)           (m)         (g/t)
    
PDH 10A          1.04         89.40         90.44          0.33
PDH 14B          6.00          3.00          9.00          0.40
PDH 20           3.00          7.50         10.50          1.49
PDH 20A          4.50          3.00          7.50          1.32
                 4.50         10.50         15.00          1.87
PDH 24           3.00          1.50          4.50          1.00
                 3.00          9.00         12.00          0.34
                 3.00         19.50         22.50          4.20
                 3.00         36.00         39.00          0.49
                13.50         51.00         64.50          1.26
                 7.50         67.50         75.00          1.28
                 3.00        100.50        103.50          1.32
PDH 26           1.01         80.73         81.74          0.34
PDH 27A          2.27        115.00        117.27          0.80
PDH 29           1.20         67.50         68.70          0.37
                 1.73         71.89         73.62         18.00
PDH 30           1.50         18.00         19.50          0.33
                 4.50         42.00         46.50          0.59
                 1.50         49.50         51.00          0.31
PDH 36           1.00         68.40         69.40          0.32
                 1.43         71.55         72.98          0.33
PDH 37A          1.50         67.50         69.00          0.37
                 7.50         78.00         85.50          0.93
                 6.00         85.50         91.50          0.32
PDH 39           1.50          7.50          9.00          0.34
                 1.21         24.00         25.21          0.34
                 4.62         30.00         34.62          0.31
                 0.98         42.67         43.65          0.32
                 6.00         67.05         73.05          0.30
PDH 40           7.50         12.00         19.50          1.88

The assay results in the table as well as assay results contained in previous news releases bring the total number of reported holes to 77.

A new phase of delineation drilling using two drills on the Al Hariqah gold project has commenced. Previously drilled holes that terminated in potential ore grades are planned to be lengthened. In addition 77 new holes totalling 10,255 metres are planned for the next phase of drilling. To date 20 holes totalling 2,169 metres have been completed and 1,148 samples from these holes are now being shipped to Canada for assay.

Cantex continues to negotiate with major companies with the objective of putting the potential heap-leach, open-pittable Al Hariqah deposit into production.

This press release has been prepared by Charles Fipke, a qualified person.

Hg