Announcement • Jul 17
Cantex Mine Development Corp. announced that it expects to receive CAD 3 million in funding from Crescat Capital LLC Cantex Mine Development Corp. announced a a non-brokered private placement to raise gross proceeds of up to CAD 3,000,000 on July 17, 2026. The Offering will be comprised of a combination of charity flow through units ("CFT units"), flow through shares ("FT shares") and hard units ("Units") for total gross proceeds of up to CAD 3,000,000. The CFT units will be priced at CAD 0.3625 per unit, with each CFT unit comprised of one flow through share and one-half of a non-flow through warrant. Units will be priced at CAD 0.25 per unit, with each Unit comprised of one common share and one-half of a non-flow through warrant. FT Shares will be priced at CAD 0.30 per FT shares, with no warrants attached to them. 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 CAD 0.40 for a term of two years. The Company may pay finder's fees in connection with the Offering in accordance with the policies of the TSX Venture Exchange. The company is pleased to announce that Crescat Capital is increasing their investment through this placement. The Offering remains subject to the acceptance of the TSX Venture Exchange. New Risk • Jul 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$4.0m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (22% increase in shares outstanding). Market cap is less than US$100m (€26.1m market cap, or US$29.8m). Announcement • Jun 03
Cantex Mine Development Corp Reports Preliminary Flotation Results for North Rackla Project Cantex Mine Development Corp. had announced highly successful results from preliminary metallurgical flotation testwork on its 100-percent owned 14,077 hectare North Rackla claim block in the Yukon. The company is pursuing multiple options for the sale of lead and zinc from the deposit, which include ore sorting and direct ore shipments which may result in a flowsheet that does not include flotation. The test program, conducted at ALS Kamloops Metallurgy, successfully demonstrated that conventional, industry standard sulphide flotation techniques can effectively separate and produce high-quality, lead and zinc concentrates from both high-grade and low-grade sulphide mineralization as well as a high quality lead concentrate from the near surface oxidized mineralization. The flotation process demonstrated particularly good results for the low-grade sulphide mineralization. All sulphide and oxide composites successfully exceeded the critical commercial benchmark of >45% metal purity for both final lead and zinc concentrates. High-Grade (HG) sulphide composites achieved 85.1% lead recovery (at 53.6% Pb grade) and 80.6% zinc recovery (at a 61.8% Zn grade). Low-Grade (LG) sulphide composites demonstrated exceptional metallurgic resilience, yielding 91.1% lead recovery (at 51.0% Pb grade) and 88.4% zinc recovery (at 51.0% Zn grade). Silver reports predominantly to the lead concentrate, delivering stellar grades of 960 g/t Ag (HG), 532 g/t Ag (LG) and 410 g/t Ag (Ox) representing a high-margin revenue driver. Testwork confirms an optimized primary grind size of 75 microns ensures maximum mineral liberation which allows the use of industry standard plant designs. The flotation process is typically broken down into rougher and cleaner stages. The rougher stage is meant to maximize recovery at the coarsest grind possible, while the cleaner circuit is responsible for achieving a saleable concentrate. Initial rougher testwork on the LG, HG, and Oxide samples evaluated primary grind sizes of 150um and 75um. The finer 75um grind size demonstrated a significant improvement in overall metallurgical performance, showing excellent recovery under standard lead and zinc flotation conditions. Achieving both high recovery and acceptable concentrate grade often requires additional grinding to liberate the valuable minerals, and adjusting the chemistry to cause unwanted particles to be depressed, leaving only the purest lead or zinc containing minerals behind. Cleaner flotation typically involves multiple stages. In the tests completed during this study, regrinding to a particles size between a P80 of 15 µm and a P80 of 25 µm were used for both the lead and zinc concentrates, as well as two cleaner stages were completed for each of the lead and zinc rougher concentrates. Cleaner circuit testing demonstrated high recoveries to lead and zinc concentrates with desirable metal grades. The low-grade sample produced exceptional results. The lead concentrate recovered 91.1% of the lead from the sample and assayed 51% lead. The zinc concentrate recovered 88.4% of the zinc and assayed 51% zinc. The lead concentrate contains substantial silver (532 g/t). The zinc concentrate contains 100 g/t silver and based upon previous testing is expected to contain substantial germanium. Additional work is being conducted on the germanium recovery. Both the lead and zinc concentrates comprised 7.9% of the original sample size. The high-grade sample also produced encouraging results. The lead concentrate recovered 85.1% of the lead from the sample and assayed 53.6% lead. The zinc concentrate recovered 80.6% of the zinc and assayed 61.8% zinc. The lead concentrate contains substantial silver (960 g/t). The zinc concentrate contains 74 g/t silver and based upon previous testing is expected to contain substantial germanium. The lead and zinc concentrates comprised 4.3% and 5.4% of the original sample weight respectively. Consistent with typical near-surface oxide mineralization processed through a standard sulphide circuit, overall zinc recovery was poor, prompting metallurgical focus to pivot exclusively toward lead and silver recovery. Cleaner testwork successfully proved that a high-quality, saleable lead concentrate grading 53.0% Pb and 410 g/t Ag can be produced from this material. It also demonstrates that the process also results in substantial reduction of mass, with the concentrate comprising only 2.1% of the original sample weight. Though oxide mineralization represents a minor component of the deposit, it is promising that it adds value, as prior to this study the surficial oxides were regarded as waste. The second cleaner flotation testing on all composites yielded highly encouraging commercial products: High-Grade Composite (KM7852-10): Generated a lead concentrate grading 53.6% Pb and 960 g/t Ag, alongside a premium zinc concentrate grading 61.8% Zn. A mass pull of just 4.3% for lead and 5.4% for zinc indicates highly favorable, low-volume shipping economics. Low-Grade Composite (KM7852-08): Proved the chemical resilience of the ore, recovering 91.1% of the lead to a 51.0% Pb concentrate, and 88.4% of the zinc to a 51.0% Zn concentrate. Oxide Material (KM7852-09): Successfully proved that a high-quality, saleable lead concentrate grading 53.0% Pb and 410 g/t Ag can be produced. This confirms that the near-surface oxide cap could be commercialized as a valuable starter feed rather than treated as waste rock. Total mass pull is small, ranging from 2.1% for the lead concentrate for the oxide mineralization to 7.9% for each of the low-grade lead and zinc concentrates. This means one would only ship 2.1 tons of lead concentrate for every 100 tons of oxide mineralization mined, or 7.9 tons of each the lead and zinc concentrates for 100 tons mined of the low-grade mineralization. The high-grade lead concentrate captured 9.6% of the available zinc. Future flowsheet fine-tuning will focus on having this zinc report to the zinc concentrate, providing a pathway to further boost overall zinc recovery and optimize concentrate terms. The preliminary metallurgical flotation testwork confirms that conventional processing achieves premium, highly saleable products. Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Vern Frolick was the last independent director to join the board, commencing their role in 2003. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 24
Cantex Mine Development Corp Provides Update On Metallurgical Test Work Program Cantex Mine Development Corp. started the metallurgical program in January 2026, which was designed to evaluate pre-concentration by X-Ray Transmission sorting, mineralogy, comminution characteristics, etc. for three composites that cover different mineralization types in the deposit. The three composites were selected to represent the range of mineralization styles seen across both the strike length and depth extent of the mineralization. The composites consist of half split HQ drill core. Oxide Composite. High Grade Sulphide Composite. Low Grade Sulphide Composite. The testwork program was split into 2 components: sorting test work to identify opportunities to pre-concentrate mill feed, conducted at Base Met Labs, and the conventional processing testwork conducted at ALS Kamloops Metallurgy, an independent metallurgical laboratory specializing in base and precious metal process development. Sorting amenability was carried out on a sample of 100 pieces of drill core which covered a range of lead, zinc, silver, and sulphur grades and included samples from all 3 zone types currently under testing. The results confirmed excellent differentiation between mineralization-rich rock and barren host rock, achieving strong pre-concentration performance across the tested size fractions. Core samples from multiple mineralized zones were subjected to sensor-based sorting using X-ray transmission (XRT) technology. XRT is a technology that differentiates rocks based on atomic density. As such, it is able to discern dense silver-lead-zinc-germanium bearing rocks from lighter unmineralized country rock. In this test, the individual pieces of drill core measured approximately 10cm in length. The curve demonstrates that 95.0%, 97.8%, and 97.9% of the silver, zinc, and lead report to a concentrate stream containing 70% of the mass.