New Cantech Ventures Inc.

New Cantech Ventures Inc.

April 17, 2008 18:10 ET

New Cantech Management Proposes Name Change

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2008) - New Cantech Ventures Inc. (TSX VENTURE:NCV)(FSE:C7X) (the "Company") has scheduled an annual and special general meeting of the shareholders on May 16, 2008 to decide on a number of corporate issues, including a change of name from New Cantech Venture Inc. to Nanika Resources Inc. to better reflect the ongoing business and operational focus of the Company. As the Company considers its future plans, including the development of the Lucky Ship Molybdenum deposit in west central British Columbia, management believes that it is beneficial to associate the Lucky Ship deposit with the area known for "Nanika" with the new name of the Company. Therefore, management is proposing to the shareholders at the meeting to be held at 2:00 PM on May 16, 2008 at the Four Seasons Hotel, 791 West Georgia Street, Vancouver BC, V6C 2T4 that as a special resolution the name of the Company be changed from New Cantech Ventures Inc. to Nanika Resources Inc.

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, all of which are located within Canada.

On Behalf of the Board

James. D Jacuta

Chairman, President & CEO.

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