Cantex Announces Drill Progress

KELOWNA, BC, Nov. 16, 2016 /CNW/ - Cantex Mine Development Corp. (CD: TSXV) (the "Company") is pleased to announce that three holes have been completed from the same site into an unexposed, talus-covered, oxidized massive sulfide zone that strikes for at least 1,900m.The oxidized massive sulfide zone analyzed 314 g/ton silver, 5.39% lead, 3.39% zinc and 0.66% copper in surface talus.This zone was intersected over a 5 meter intercept at 12.2 meters, a 10 meter intercept at 14.0 meters and a 15 meter intercept at 18 meters in three drill holes trending at 148 degrees azimuth, at 45 degree, 55 degree and 70 degree inclinations, respectively.The drill crew have reported commencing another hole at 131 degree asmuth, at 55 degree inclination from the same drill site.

The 63.5 mm and 50.7mm diameter sized drill core is in the process of being shipped off site for detailed logging, splitting in half, and assaying one half for gold, silver, copper, lead, zinc.

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.

SOURCECantex Mine Development Corp.