Cantex Mine Development Corp. — AGM Information 2023

Jan 18, 2023

O CANTEX MINE DEVELOPMENT CORP. 203-1634 Harvey Avenue Kelowna, BC V1Y 6G2 Telephone No.: (250) 860-8582 Fax No.: (250) 860-1362

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

The annual general meeting of Shareholders of Cantex Mine Development Corp. (the “ Corporation ”) will be held at The Ramada Hotel & Conference Centre, 2170 Harvey Ave., Kelowna, British Columbia on Monday, February 13, 2023 at 9:30 a.m. (Pacific Time) (the “ Meeting ”).

The Corporation is offering Shareholders the option to listen and participate (but not vote) at the Meeting in real time by video conference through Zoom.

As of the date of this Notice, we intend to hold the Meeting in physical face-to-face format and include video conferencing so shareholders can listen to the Meeting in real time. Details for the video conferencing will be made available on the Corporation’s website prior to the Meeting. With the heightened health risks associated with the advent of new versions of COVID-19, and other respiratory illnesses currently circulating amongst the Canadian public, you should not attend the Meeting in person if you are experiencing any cold or flu-like symptoms. In order to minimize group sizes and respect social distancing regulations, all Shareholders are urged to vote on the matters before the Meeting by proxy, which proxy can be submitted electronically or by mail as described in the accompanying Information Circular . We reserve the right to take any additional precautionary measures we deem appropriate in relation to the Meeting in response to further developments in respect of the COVID-19 pandemic or other infectious disease that may pose a significant health risk through participation at the Meeting in person. Should any changes to the Meeting format occur, the Corporation will announce any and all changes by way of news release, which will be filed under the Corporation’s profile at www.sedar.com. We strongly recommend you check the Corporation’s website www.cantex.ca prior to the Meeting for the most current information. In the event of any changes to the Meeting format, the Corporation will not prepare or mail amended Meeting materials.

Shareholders who intend to attend the meeting via video conference must submit votes by Proxy ahead of the proxy deadline of 9:30 a.m. (Pacific Time) on February 9, 2023. Attendance by video conference allows Shareholders to listen to, but not to vote at, the Meeting.

Purpose of the Meeting

The Meeting is to be held for the following purposes:

1. to receive and consider the audited consolidated financial statements of the Corporation for its financial year ended July 31, 2022, and the report of the auditor;

2. to set the number of directors of the Corporation at five;

3. to elect directors of the Corporation for the ensuing year;

• to appoint an auditor of the Corporation for the ensuing year; and

1. to ratify and approve the continuation of the Corporation’s share option plan as more particularly set out in the accompanying Management Proxy Circular.

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A Management Proxy Circular accompanies this Notice and contains details of matters to be considered at the Meeting. No other matters are contemplated for the Meeting, however any permitted amendment to or variation of any matter identified in this Notice may properly be considered at the Meeting. The Meeting may also consider the transaction of such other business as may properly come before the Meeting or any adjournment thereof.

Shareholders who are unable to attend the Meeting in person and who wish to ensure that their Common Shares will be voted at the Meeting are requested to complete, date and sign the enclosed form of proxy, or another suitable form of proxy, and deliver it by fax, by hand or by mail in accordance with the instructions set out in the form of proxy and in the Management Proxy Circular.

Unregistered shareholders who plan to attend the Meeting must follow the instructions set out in the form of proxy or voting instruction form and in the Management Proxy Circular to ensure that their Common Shares will be voted at the Meeting. If you hold your Common Shares in a brokerage account you are not a registered shareholder.

Dated at Kelowna, British Columbia, January 9, 2023.

BY ORDER OF THE BOARD OF DIRECTORS

“Chad Ulansky”

Chad Ulansky President and Chief Executive Officer