New Cantech Ventures Inc.
TSX VENTURE : NCV

New Cantech Ventures Inc.

March 20, 2006 14:56 ET

New Cantech Receives Assays from Phase 2 Drill Program on its Lucky Ship Molybdenum Property-1133 Metres in 4 Holes Completed-Deepened Hole LS05-30 Returns 290 Metres Grading 0.089 %Mo

WHITE ROCK, BRITISH COLUMBIA--(CCNMatthews - March 20, 2006) - The results from the last four holes of New Cantech Ventures Inc.'s ("New Cantech") (TSX VENTURE:NCV) Phase 2 Drill Program, which totaled 1133.0 metres, are tabulated in the table below:



Table of Drill Results For Last Four Holes of Phase 2
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Drill hole information Drill hole intersections at 0.06 %Mo cutoff
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Hole Depth Dip Start End Zone Length @ Grade %Mo
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LS06-30A 395.3 -45 33.0 323.0 North 290.0m @ 0.089 %Mo
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LS06-45A 380.1 -45 125.0 378.7 North 253.7m @ 0.075 %Mo
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LS06-50 285.6 -45 78.0 262.0 North 184.0m @ 0.088 %Mo
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LS06-51 394.6 -45 103.0 199.0 North 96.0m @ 0.089 %Mo
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Two holes, LS06-50 and LS06-51 were new holes; the other two, holes LS05-30A and 45A were extensions of earlier drill holes. Drill hole LS06-30A extended the intersection encountered in drill hole LS06-30 (139.8 metres grading 0.092 %Mo between 33.0 to 172.8 metres) to 290.0 metres grading 0.089 %Mo between 33.0 and 323.0 metres. Drill hole LS06-45A encountered 253.7 metres grading 0.075 %Mo - it was a continuation of hole LS06-45 which was interrupted due to the previous contractor's drilling problems. Drill hole LS06-50 encountered 184.0 metres grading 0.088 %Mo, and was drilled at a depth of 50 metres below drill hole LS06-30 in the Northwest Zone. Drill hole LS06-51, also in the Northwest Zone, encountered 96.0 metres grading 0.089 %Mo - it tested the area adjacent to LS06-28. The object of the Phase 2 program is to outline 5 to 9 million tonnes of near-surface mineralization which could be amenable to open pit mining.

Between June 2005 and February 2006, New Cantech Ventures Inc. completed a total of 4,921.6 metres of NQ diamond drilling in 27 holes on the Lucky Ship Molybdenum Property - these holes comprised a two-phase program - completion of the program was announced in a Press Release on 3 March 2006. The Phase 1 program was designed to outline the surface area of the mineral deposit and to test the deposit to a depth of approximately 50 metres. The Phase 2 drill program was designed to continue to test portions of the deposit to a depth of 100 metres. The full results from New Cantech's two drill programs are tabulated below:



Table of Drill Results For Phase 1 and Phase 2
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Drill hole information Drill hole intersections at 0.06% Mo cutoff
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Hole Depth Dip Start End Zone Length @ Grade %Mo
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LS05-24 122.8 -45 13.4 82.0 South 68.6m @ 0.082 %Mo
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LS05-25 100.6 -45 39.0 41.0 South 2.0m @ 0.105 %Mo
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LS05-26 113.7 -45 17.0 35.0 South 18.0m @ 0.073 %Mo
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LS05-27 81.4 -45 no significant intersections, hole tested
eastern extent of zone
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LS05-28 178.9 -45 39.0 177.0 North 138.0m @ 0.096 %Mo
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LS05-29 188.1 -45 116.0 176.0 North 60.0m @ 0.076 %Mo
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LS05-30 172.8 -45 33.0 172.8 North 139.8m @ 0.092 %Mo
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LS06-30A 395.3 -45 33.0 323.0 North 290.0m @ 0.089 %Mo
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LS05-31 78.3 -45 8.0 72.0 North 64.0m @ 0.146 %Mo
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LS05-32 63.1 -45 9.4 43.0 North 33.6m @ 0.112 %Mo
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LS05-33 117.3 -45 24.0 110.0 South 86.0m @ 0.086 %Mo
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LS05-34 130.2 -45 no significant intersections, hole tested
eastern extent of zone
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LS05-35 182.0 -45 119.0 123.0 North 4.0m @ 0.085 %Mo
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LS05-36 277.7 -45 3.0 190.0 North 187.0m @ 0.095 %Mo
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LS05-36 277.7 -45 220.0 270.0 South 50.0m @ 0.132 %Mo
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LS05-37 126.5 -45 62.0 70.0 South 8.0m @ 0.076 %Mo
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LS05-38 133.2 -45 17.0 51.0 North 34.0m @ 0.104 %Mo
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LS05-39 141.8 -45 30.0 98.0 South 68.0m @ 0.098 %Mo
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LS05-40 114.9 -45 14.0 34.0 South 20.0m @ 0.089 %Mo
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LS05-41 114.9 -45 25.0 51.0 South 26.0m @ 0.103 %Mo
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LS05-42 96.7 -45 9.0 79.0 North 70.0m @ 0.119 %Mo
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LS05-43 102.1 -45 7.0 19.0 North 12.0m @ 0.065 %Mo
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LS05-43 102.1 -45 51.0 55.0 South 4.0m @ 0.08 %Mo
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LS05-44 226.5 -45 148.0 184.0 North 36.0m @ 0.083 %Mo
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LS05-45 108.8 -50 no significant intersections, hole
interrupted before hitting zone
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LS06-45A 380.1 -45 125.0 378.7 North 253.7m @ 0.075 %Mo
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LS05-46 233.8 -48 128.0 194.0 North 66.0m @ 0.111 %Mo
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LS05-47 211.2 -50 102.0 148.0 North 46.0m @ 0.096 %Mo
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LS05-48 227.7 -45 154.0 216.0 North 62.0m @ 0.097 %Mo
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LS05-49 160.6 -45 no significant intersections, hole tested
western extent of zone
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LS06-50 285.6 -45 78.0 262.0 North 184.0m @ 0.088 %Mo
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LS06-51 394.6 -45 103.0 199.0 North 96.0m @ 0.089 %Mo
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Note: all measurements metric


Previous Historical Resource

A previous operator, Amax Exploration Inc., outlined a significant molybdenum occurrence. The Amax work was completed between 1964 and 1968 and included approximately 11,000 metres of drilling in 23 diamond drill holes. Amax calculated a "preliminary resource estimate" of 18 million tonnes grading 0.163% MoS2 to a depth of 300 metres. The Amax historical estimate does not use the mineral resource or mineral reserve categories stipulated in Section 2.3(1) of National Instrument 43-101, which are "inferred mineral resource", "indicated mineral resource", "measured mineral resource, probable mineral reserve or a proven mineral reserve". Rather the historical resource estimate is a "preliminary resource estimate", which is not a category stipulated in National Instrument 43-101. New Cantech does not have any more recent resource estimates. New Cantech advises that it has not done the work necessary to verify the classification of the mineral resource - although New Cantech's Phase 1 drill program and the Phase 2 drill programs were designed to provide the basis for a resource calculation made in compliance with National Policy 43-101.

New NI 43-101 Report Including A NI 43-101 Resource Calculation Being Prepared and Filed

New Cantech is preparing and will be filing in SEDAR.com an updated National Instrument 43-101 Technical Report, including an up-to-date resource calculation. New Cantech currently has a National Instrument 43-101 report filed in SEDAR.com but that report does not contain a resource calculation, although it does refer to the historical resource referred to above. New Cantech is not treating the historical resource estimate as a National Instrument 43-101 defined resource or reserve verified by a Qualified Person and that historical resource estimate should not be relied upon.

Dr. R.H. McMillan P.Geo., New Cantech's designated "qualified person" under National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

NEW CANTECH VENTURES INC.

Dalton DuPasquier, President & CEO


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.

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