New Cantech to review IXL results and decide on option

2007-09-14 20:36 ET - News Release

Mr. James Jacuta reports

RECEIPT OF DRILLING RESULTS ON THE IXL PROPERTY

New Cantech Ventures Inc. and its joint venture partner, Cougar Minerals Corp., have received the results from the recent Diamond drill program on their 50/50 jointly optioned IXL property, located 55 kilometres north of Grand Forks, in Southern British Columbia. Results from drilling were disappointing.

Four NQ Diamond drill holes, totalling 716.4 metres, were drilled. Holes IXL 07-1, 07-2 and 07-3 were drilled in the eastern part of the property, to test the Jack showing and to test a nearby electromagnetic conductor delineated by the spring 2007 Aeroquest helicopter-borne geophysical survey. Hole IXL 07-4 was drilled at the IXL showing, in the western part of the property, where previous work (trenching and Diamond drilling) was done by the company in 2004 and 2005.

A total of 162 drill core samples were collected and shipped to Acme Analytical Labs in Vancouver for analysis for a multielement ICP-MS package (Acme Group 1DX method) and for gold by 30-gram fire geochem analysis (Acme Group 3B method). Sample intervals were determined by mineralization and geology, but were generally two or three metres. Core was sawn, with half-core samples submitted for analysis. Quality control measures, including company-inserted standards and blanks, were implemented in the program.

Low-grade zinc mineralization and low-grade copper skarn mineralization were intersected in the drill holes, as listed in the table. The relationship between drilled intercept and true width is not known. The airborne geophysical conductor has been attributed to a zone of graphite argillite, which was intersected in holes IXL07-1, 07-2 and 07-3.

Drill hole   From     To    Interval   Cu    Pb    Zn    Ag    Au*
               m       m      m       ppm   ppm   ppm    ppm   ppb
IXL 07-1     61.15   63.95   2.80      53   473  1,331  1.4    19
            162.50  164.20   2.00     302   108  1,737  1.1    12
            174.50  178.50   4.00     102 1,315  2,901  2.0    24
IXL 07-2     44.30   54.60  10.30      76   309  1,339  0.9    11
            151.20  154.20   3.00     186    38  9,028  0.6    35
            106.20  162.20   2.00      28    29  1,071  0.3     6
IXL 07-3     34.20   40.30   6.10      35   123  2,577  1.0    21
IXL 07-4     37.30   39.80   2.50     152   968  2,915  3.9    26
             71.35   87.90  16.55   1,470    14     52  1.1   260
            175.70  182.00   6.30   1,265     2     28  0.7   111
* Au results by fire geochem, all other results by ICP-MS

Cantech will be reviewing these results and the overall IXL property in order to determine whether it will proceed under its option agreement with John Wesley Carson to acquire a 50-per-cent interest in the IXL property or whether it will elect to drop its option on the property.

Linda Caron, MSc, PEng, is the qualified person under National Instrument 43-101 who supervised the drill program, and who has reviewed and approved the content of 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