Cantex Announces Stock Option Grant

KELOWNA, April 30, 2024 - Cantex Mine Development Corp. (TSXV: CD) (OTCQB: CTXDF) (the "Company") announces that, in accordance with the Company's Stock Option Plan, it has granted an aggregate of 2,100,000 options to certain directors, officers, and consultants of the Company. The options are exercisable at a price of $0.50 and have a term of 7 years expiring April 26, 2031. The options also vest in their entirety at the end of 5 years, provided that if an optionee ceases to bee a bona fide service provider prior to the vesting of their options, a pro rata portion of such optionee's options shall vest and the remainder shall be cancelled.

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 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.