New Cantech's Camsell Lake samples return high grades

2007-09-07 18:01 ET - News Release

Mr. James Jacuta reports

NEW CANTECH VENTURES INC.: RESULTS OF SAMPLING, INCLUDING HIGH-GRADE ASSAYS ON PROPERTIES IN THE NORTHWEST TERRITORIES

New Cantech Ventures Inc. has completed an initial review of base and precious metal prospects on its recently acquired properties in Northwest Territories. Cantech's Camsell Lake and Munn Lake properties, located 200 kilometres (km) to 250 km northeast of Yellowknife, respectively, are held under option as detailed in news releases in Stockwatch of May 25, May 30, and Aug. 1 of 2007. This news release details highlights of sampling of showings on both properties by Cantech's consulting geologist in July, 2007.

At the Camsell Lake property, a showing where Cantech reported a nickel assay of 16.4 per cent (May 30, 2007, news release in Stockwatch) was followed up with new sampling. Three samples generally corroborated that nickel (Ni) tenor, while zinc (Zn) and especially gold (Au) values of interest were also returned (see Camsell Lake property drill results table).

               CAMSELL LAKE PROPERTY SAMPLE RESULTS
                Cu       Pb      Zn      Ni      Co        Au        Ag
Sample        (ppm)    (ppm)     (%)     (%)     (%)     (g/t)     (g/t)
675411       110.5    796.9    0.05    14.2    0.52      2.14        18
675412       340.6    270.5    1.41    14.1    0.26      6.14        13
675413(i)     23.9    763.7    1.31    20.2    0.33     11.63        26
(i) Assay values for Cu, Pb, Au and Ag average of three determinations

The sampled mineralization consists of nearly massive gersdorffite (NiAsS) along with sphalerite in a localized exposure about 25 centimetres (cm) wide. Sample 675411 was chipped from outcrop exposed at the bottom of a shallow trench, while the remaining pair of samples was taken from nearby and similarly mineralized boulders and cobbles clearly blasted from that trench. The mineralization is contained in deformed basalt adjacent to a gabbro sill, with no visible strike extension beyond that exposure. Samples from each of several other rusty pits and small trenches made by earlier workers, containing much weaker mineralization, returned no results of interest. Those pits are accompanied by numerous patches of intensely gossanous outcrop throughout the area.

In the southern part of the Camsell Lake property, a massive sulphide showing reported in government mapping of 1992 was also examined by Cantech. From eight samples gathered from subcrop and float containing sulphide mineralization, one returned elevated copper (370 parts per million (ppm)) and nickel (293 ppm), and another assayed above background in lead (581 ppm).

A pair of locations at the Munn Lake property were reviewed to consider the nickel potential in ultramafic rocks as mapped by government geologists in 1992. None of the eight samples returned assays of interest.

Cantech management is currently evaluating these results and considering the position of these properties in the context of the company's existing portfolio of properties. A further news release will be issued when plans for these properties have been finalized.

Samples were assayed by Acme Analytical Laboratories of Vancouver. All samples were digested in hot aqua regia and analyzed by a 36-element ICP-MS procedure (Group 1DX). Samples returning values exceeding analytical limit in zinc, nickel or cobalt were rerun by a separate high-grade ICP-MS procedure (Group 7AR). Gold and silver were determined by fire assay from a one-assay-ton subsample with an ICP-ES finish (group 6).

J. David Williams, PEng, a qualified person under National Instrument 43-101, has reviewed and approved the technical disclosure in this news release.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

James Jacuta

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