Cantex Mine Development Corp V.CD

Al Masnaa Update

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Al Masnaa Nickel - Copper - Platinum Prospect (Cantex 100%) via CDS Nov 26, 2002 5:10:30 AM Cantex Mine Development Corp is pleased to announce that it has recently completed ground geophysical, geological and geochemical sampling surveys at the Al Masnaa Nickel - Copper - Platinum project located in Northwest Yemen. The geophysical results are thought to have identified two, possibly three, zones of disseminated to massive sulphide mineralization, 4 - 5 kilometres long, contained within volcanic and sedimentary rocks. Coincident nickel, locally accompanied by copper-cobalt-platinum-palladium-rhodium soil anomalies over some of the geophysical anomalies, as well as the previously reported drill intercept of 7.6% nickel and 1.2% copper at Al Masnaa Hill, demonstrate that parts of the sulphide zones contain high-grade nickel-copper mineralization. Orientation geophysical surveys were first carried out over the known Al Masnaa mineralization and then extended to cover an area five kilometres long and up to one kilometer wide and containing the vast geochemical soil anomaly reported previously. These surveys consisted of Induced Polarization ('IP') and Resistivity measurements. Data were obtained along lines typically 200 metres apart except at the extremities of the survey where lines were 600 metres apart. Follow up using moving loop transient electromagnetic ('TEM') surveying was carried out at 50 metre intervals in the center of the survey area. IP surveys typically detect disseminated mineralization whereas Resistivity and TEM surveys detect conductive bodies such as massive sulphides. Three IP anomalous zones were found with the same type of response as that obtained over the Al Masnaa mineralization. Two of these are effectively continuous for 2 kilometres and then extend intermittently for a further 2 - 3 kilometres. The third IP zone is intermittent over 5 kilometres. All three zones are typically 50 to 100 metres wide. Several zones, typically 500 - 1000 metres long of low Resistivity anomolies were found. TEM produced four anomalies each about 200 metres long. Two of the IP anomalous zones are coincident with locally offset or intermittent outcropping gossans and anomalous soil geochemistry over a distance of more than one kilometer. The cause of the other IP zone is not known as alluvial deposits cover it and no surface rocks are seen. Several of the Resistivity low anomolies are coincident with, or upslope from, highly anomalous values of nickel with intermittent copper, cobalt and platinum group metals in soil and gossan. The TEM anomalies occur close to the base of the IP anomalies. The company is most encouraged by these results because of the interpreted strike length of the mineralization indicates a potential for substantial tonnages and previous drilling shows that both high grade and disseminated nickel and copper mineralization are present. Future work will firstly focus on analyzing an additional 311 soil samples and 80 gossan samples, collected to help establish drilling priorities. This will be followed by the systematic drilling of priority targets selected from coincident geophysical and geochemical anomalies and reconnaissance percussion drilling of geophysical anomalies in sand and soil covered areas where there is no surface geochemistry. CONTACT: TEL: [phone] Dr. Peter Gregory, President & CEO FAX: [phone]