Suite 670 ? 789 West Pender St. Vancouver,
BC V4C 1H2 Tel:(604) 638-0699
Fax:(604) 638-0698
Website: www.newcantech.com
Wed Dec 5, 2007
New Cantech Receives Payment on Manitoba
Properties
New Cantech Ventures Inc. (TSX:V - NCV) received $450,000
today, of which one-half was from Canasia Industries Corporation (TSX:V - CAJ)
and the remaining one-half from International Samuel Exploration Corporation
(TSX:V - SAZ). New Cantech received payment pursuant to agreements with Canasia
and International Samuel (TSX:V - SAZ) on its interest in several Manitoba
mineral properties. The closing purchase price also included 400,000 common
shares of Canasia and 400,000 common shares of Samuel, plus staking costs of
approximately $6,700 from each company. In addition, New Cantech will be entitled to a 0.5-per-cent net smelter royalty (NSR) from Canasia and
0.5-per-cent NSR from Samuel, of which each company may purchase 0.25 per cent
at any time for $250,000. The Manitoba mineral properties are located in the
area of mineral exploration licence 268A referred to in the VMS Ventures Inc.
(TSX:V - VMS) news release of October 4, 2007 where VMS released assay results
(weighted average) from drill hole RD07-02 on its new discovery on its Reed Lake
project, near Snow Lake, Manitoba which highlighted high-grade, copper-rich
intervals.
New Cantech also takes this opportunity to announce further
on-going changes in the company as Dr. Richard Grayston, BComm, MBA, PhD, who is
Chief Financial Officer for New Cantech has taken on the additional function of
Corporate Secretary, replacing Ross Blusson who remains a director of the
company.
New Cantech is a TSX Venture mineral exploration and development
company focusing on the development of its Lucky Ship Molybdenum Property in
west central British Columbia and the advancement of its other mineral
exploration properties, most of which are located in British Columbia and all of
which are located within Canada.
About New
Cantech
New Cantech is a TSX Venture listed mineral
exploration and development company focusing on the development of its Lucky
Ship Molybdenum Property in west central British Columbia and the advancement of
its other mineral exploration properties, most of which are located in British
Columbia and all of which are located within Canada.
For more information please contact James Jacuta, President & CEO of
New Cantech Ventures Inc., at (604) 638-0699 or visit Cantech's website at
http://www.newcantech.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Jacuta",
Chairman
NEW CANTECH VENTURES
INC.
The
TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of the information contained
herein.
For
shareholder enquiries contact:
John
R. Chalcraft,
Local:
(604) 541-1995; Toll free: 1 (800)
540-1995