Cantex announces shares for debt

	    KELOWNA, BC, Dec. 30 /CNW/ - Cantex Mine Development Corp. (TSXV: CD)
(the "Company") announces that, subject to regulatory approval, it has agreed
to settle indebtedness totaling $1,022,842 owing to a company owned by Dr.
Chares Fipke, Chairman of the Company, with the issuance of 17,047,367 shares
with a deemed value of $0.06 per share. The indebtedness includes monies
advanced to the Company for exploration expenditures.

	    <<
	    On behalf of the Board of Directors

	    Signed,
	    Chris Sammartino

	    Chris Sammartino
	    Secretary and CFO
	    >>

	    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.






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	    /For further information: Cantex Mine Development Corp., 203-1634 Harvey
Ave., Kelowna, BC, V1Y 6G2, Tel (250) 860-8582, Fax (250) 860-1362, Email
cantex@shaw.ca/