NEW CANTECH VENTURES INC. (the "Company") (TSX VENTURE:NCV)(FRANKFURT:C7X)
announces that the 2008 Annual and Special General Meeting of Shareholders (the
"Meeting") was held on Friday, May 16th, 2008, at which the following
individuals were elected directors of the Company: James D. Jacuta, R. Ross
Blusson, William Meyer, Howard Bird, Conrad Swanson and John Busswood.


Immediately after the Meeting, the Board of Directors appointed Nerio Cervantes
as Chief Financial Officer and Secretary and James Jacuta as the Chief Investor
Relations Officer, these positions being in addition to his positions as
President and Chief Executive Officer.


The Company welcomes the addition of Conrad Swanson and John Busswood to the
board. Mr. Swanson is currently the president of Gold Reach Resources Ltd. and
International Samuel Exploration Corp. and also sits on the Board of Directors
of Independent Nickel Corp. John Busswood brings a wealth of marketing and
financial experience to the Company and was instrumental in the positive growth
of Enrich International Ltd. Nerio Cervantes has been the Company's office and
accounting manager since September 1st, 2007 and was previously Chief Financial
Officer and director of Alamos Minerals Ltd.


Richard W. Grayston and Mark L.P. Ferguson were not re-elected to the Board of
Directors. Mr. Grayston also ceased to be the Chief Financial Officer, Secretary
of the Company and Investor Relations Officer of the Company. The Company wishes
to thank each of Richard Grayston and Mark Ferguson for all of their support
during their tenure.


Shareholders of the Company also approved and authorized the Board of Directors
to proceed with changing the name of the Company from "New Cantech Ventures
Inc." to "Nanika Resources Inc.". The name change is subject to the approval of
the TSX Venture Exchange.


The Company is a TSX Venture Exchange 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, Chairman, President & CEO
New Cantech Ventures Com Npv (TSXV:NCV)
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