Cantex Mine Development Corp. updated the progress on the Suwar nickel - copper - cobalt project. Vale has undertaken an aggressive exploration program at Suwar since optioning the project in November 2008. Vale has met and exceeded its $2 million work commitment. Initially work focused on developing drill targets in the vicinity of the mineralization previously discovered by Cantex. 1,894 soil samples were collected, a satellite image was acquired and detailed geological mapping was conducted over the Suwar area. Ground geophysical surveys included 32 line kilometers of ground magnetics, 15 kilometers of ground gravity and a ground induced polarization (IP) survey covering a 2.5 km by 2.5 km area. The results of this work identified several drill targets. The most significant of these were two IP anomalies. The eastern IP anomaly was modeled to be approximately 800 meters long and between 130 and 250 meters wide. The western anomaly was modeled to be 600 meters long and between 150 and 300 meters wide. Logan drilling was contracted to test the deeper targets and the first planned hole for this drill was designed to test the depth extent of the mineralization discovered at Suwar Hill. Although the hole was planned to reach 1,000 meters difficult drilling conditions prevented the hole from reaching target depth; the hole was terminated at 598.48 meters. The second and third holes were designed to test the eastern IP anomaly. Both holes reached target depths of 599 meters. Only the second hole intersected significant mineralization. One of Cantex's small man portable drills was used to test shallow drill targets in areas inaccessible to the larger drill. Prior to the Ramadan holiday two holes were completed; the first was drilled to 172.14 meters and the second was drilled to 156.12 meters. No significant mineralization was intersected. Due to a limited drilling budget only five holes were drilled totaling 2,125 meters. Down hole electromagnetic surveys were completed on two of the 2009 drill holes to provide a better understanding of the mineralization at depth. All mineralized sections were sent for assay. The drilling conducted to date has not discovered continuous mineralization worthy of a prefeasibility study. Further work is required to define such mineralization and Cantex is working with Vale to modify the timelines contained within the original agreement to allow this work to occur. Cantex has granted Vale an extension of up until December 31, 2009 to decide whether to commit an additional $1 million on exploration as required under the option agreement.

Cantex Mine Development Corp. announced earnings results for the third quarter and nine months ended April 30, 2009. For the quarter, the company reported net loss and comprehensive loss of CAD 227,085 compared with net loss and comprehensive loss of CAD 817,437 in the same period last year. Net cash used in operating activities was CAD 45,149 compared to CAD 380,035 in the same period last year. For the nine months, the company reported net loss and comprehensive loss of CAD 1,438,001 compared with net loss and comprehensive loss of CAD 1,354,071 in the same period last year. Net cash used in operating activities was CAD 1,056,144 compared to CAD 784,533 in the same period last year.

Cantex Mine Development Corp. announced the commencement of drill testing by Logan Drilling on its Suwar nickel-copper-cobalt project. The Suwar project is optioned to Vale International S.A. Vale geologists are currently at Suwar providing technical oversight to the project. Interpretation of the northern portion of the ground induced polarization (IP) survey is now complete and has identified two significant anomalies for drill testing. The eastern IP anomaly is modeled to be approximately 800 meters long and between 130 and 250 meters wide. The nickel-copper-cobalt massive sulfide mineralization intersected by previous drilling by Cantex on Suwar Hill appears to be an extension of the eastern IP anomaly. The western anomaly is modeled to be 600 meters long and between 150 and 300 meters wide. This first NQ (47.6mm diameter) core hole is designed to test the depth extent of the mineralization previously discovered at Suwar Hill. It is being drilled at-70 degrees to a depth of up to 1,000 meters. Upon completion of the hole a down hole electro-magnetic (DHEM) geophysical survey will be conducted. Subsequent drilling with the large Logan drill rig will test the northern portions of the eastern IP anomaly. Cantex's man-portable core rig will shortly be mobilized to Suwar to commence testing the less accessible western anomaly.