CRESCAT INCREASES INVESTMENT AND CANTEX UPSIZES PRIVATE PLACEMENT TO $5 MILLION

CRESCAT INCREASES INVESTMENT AND CANTEX UPSIZES PRIVATE PLACEMENT TO $5 MILLION

KELOWNA, BC, July 22, 2025 /CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the "Company"). Further to its news release of July 11, 2025, the Company is pleased to announce that, due to added interest, it has elected to increase the amount of its previously announced private placement to $5,000,000. All other terms remain the same.

Cantex is pleased to announce that Crescat Capital has increased its participation in the placement to $800,000.

The Company will be using the proceeds of the placement on its soon to commence summer drill program at North Rackla where the Company will be focused on expanding the mineralization at its zinc-lead-silver-germanium Massive Sulphide project and also testing new targets at the Copper project where previous drilling has intersected up to 7.32% copper (see news release of April 13, 2023).

The Offering 

The Offering will be comprised of a combination of charity flow through units ("CFT units") and hard units ("Units") for total gross proceeds of $5,000,000. The CFT units will be priced at $0.21 per unit, with each CFT unit comprised of one flow through share and one non-flow through warrant. Units will be priced at $0.14 per unit, with each Unit comprised of one common share and one non-flow through warrant. Each whole warrant issued in connection with either a CFT unit or a Unit entitles the holder to acquire a non-flow through share at a price of $0.21 for a term of three years.  The Offering is proposed to consist of 21,261,903 CFT units and 3,821,429 Units and remains subject to the acceptance of the TSX Venture Exchange.

About Cantex

Cantex is focused on its 100% owned 20,000 hectare North Rackla Project located 150 kilometers northeast of the town of Mayo in the Yukon Territory, Canada where high-grade massive sulphide mineralization has been discovered. Over 86,000 meters of drilling has defined high grade silver-lead-zinc-germanium mineralization over 2.65 kilometers of strike length and at least 700 meters depth. The mineralization remains open along strike and to depth. The Company is led by Dr. Charles Fipke, C.M., the founder of Ekati, Canada's first diamond mine.

The technical information and results reported here have been approved by Mr. Chad Ulansky P.Geol., a Qualified Person under National Instrument 43-101, who is responsible for the technical content of this release. Mr Ulansky is the Company's President and CEO.

Signed,

Chad Ulansky
Chad Ulansky President and CEO

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.

SOURCE Cantex Mine Development Corp.