New Cantech Ventures Inc.
TSX VENTURE : NCV
FRANKFURT : C7X

New Cantech Ventures Inc.

August 29, 2007 02:03 ET

New Cantech Ventures Inc. Announces Management Enhancement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2007) - New Cantech Ventures Inc. ("New Cantech" or the "Company") (TSX VENTURE:NCV)(FRANKFURT:C7X), is very pleased to announce that as part of its efforts to enhance its management team in order to address the needs resulting from the proposed development of its Lucky Ship Molybdenum Project in west central British Columbia, the Company has appointed two new directors to the Board of Directors.

First, Mr. Howard Bird has joined the Board of Directors. Mr. Bird is a senior executive and internationally experienced geologist with diverse experience in the public mineral resource sector. Mr. Bird has experience in a range of commodities, including gold, base metals, platinum and diamonds. He has directed programs in Canada, United States, Africa, South America and Australia for various companies including Noranda Mining and Exploration Inc., Corona Corporation and SouthernEra Diamonds Inc. Mr. Bird is currently responsible for the senior executive management and development of SouthernEra's global mineral projects and providing support for corporate and global operations. Mr. Bird holds a B.Sc. (Hons.) degree from McMaster University, Hamilton, Ontario, Canada and has over 18 years of experience in the mineral sector.

Second, Mr. Mark Ferguson of Calgary, Alberta has also agreed to join the Board of Directors of New Cantech. Mr. Ferguson has previous public company experience, including a stint as an Audit Committee member, and is a member of the Institute of Corporate Directors. Mr. Ferguson spent the bulk of his career in the trust company industry where, for a recent 12 year period he was with COMPUTERSHARE (formerly Montreal Trust Company) where his final position was Vice President - Western Region (reporting directly to the President & CEO). New Cantech sees Mr. Ferguson as being an additional independent director and a possible new member of its audit committee.

Next, New Cantech has also decided to establish an Advisory Council. The mandate of the Advisory Council is to assist the New Cantech Board of Directors and management team in assessing new opportunities and to provide perspective on existing Company projects.

Mr. Dalton DuPasquier has agreed to join the Advisory Council and resign from the Board of Directors and as an officer of New Cantech. This will create the necessary vacancy on the Board of Directors which will allow the appointment of Howard Bird and Mark Ferguson to the Board of Directors.

Joining Mr. DuPasquier on the Advisory Council are the following:

(a) Dr. Donald G. MacIntyre, P.Eng., who is a qualified person under National Instrument 43-101 has been responsible for the supervision of the exploration programs at the Lucky Ship Property and will be the Chairman of the Advisory Council. Dr. MacIntyre is a registered Professional Engineer in the Province of British Columbia and has Ph.D. and M.Sc degrees in economic geology from the University of Western Ontario. Don has extensive knowledge of British Columbia geology and mineral deposits gained through a wide range of mapping and resource evaluation projects that were completed during a 25 year career with the Geological Survey Branch of the BC Ministry of Energy, Mines and Petroleum Resources. Prior to joining the BC Geological Survey Don spent 5 years as an exploration geologist for Asarco Exploration working on a number of exploration projects in British Columbia and the Yukon. In 2003, Don started his own consulting company and is currently providing geological and digital data compilation services to New Cantech on the Lucky Ship, Sweeney Lake and Tidewater projects, each of which is located in Central or west Central British Columbia;

(b) Mr. Bruce Graff, P. Eng., is a qualified person under National Instrument 43-101 and is currently the Lucky Ship Project Manager who has been supervising the 2007 project developmental studies. Mr. Graff obtained his degree from the Colorado School of Mines in 1982 and has worked in both the private and public sectors since graduation. Bruce currently is a consulting mining engineer who has been working on a number of potential mines, including the both the Galore Creek and Schaft Creek projects, located in northwestern British Columbia; and

(c) Mr. Denis Battrum is founder, and president of marketfriendly, inc., a company offering metals and scrap metal market research, metal market news services, and metals and scrap metals inventory validation and valuation. Mr. Battrum has over thirty years of experience in the mining, steel manufacturing and recycling industries. He graduated with an Honours Bachelor of Science in Geology from Lakehead University, a Master of Science in Mineral Exploration from Queen's University, an MBA from the University of Missouri and completed post-graduate studies in eBusiness at the University of Westminster. He is a director of Sprott Molybdenum Participation Corporation.

As a further result of the management changes, Mr. James Jacuta, the Present Chairman of the Board of Directors of New Cantech, has been appointed Interim President and Chief Executive Officer. On behalf of the Board of Directors, James Jacuta extends his thanks to Dalton DuPasquier.

Mr. Jacuta said, "I am delighted that both Howard Bird and Mark Ferguson have agreed to join the New Cantech board and that he expects that their years of experience and enthusiasm will assist greatly with New Cantech's current phase of growth and its objective to become a producing company". Mr. Jacuta added that, "Shareholders can expect further changes in the next few months".

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, 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.

Contact Information

  • New Cantech Ventures Inc.
    James Jacuta
    President and CEO
    (604) 638-0699
    Website: www.newcantech.com