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

New Cantech Ventures Inc.

November 16, 2006 14:39 ET

New Cantech Ventures Inc.: Drilling Update-Indi Property-Stewart, British Columbia, Silver Coin Project

Final Drilling Results on Cantech's Indi Property with DDH-2006-124 Intersecting 9.14 m of 2.64 g/t Au and 424 g/t Ag

STEWART, BRITISH COLUMBIA--(CCNMatthews - Nov. 16, 2006) - New Cantech Ventures Inc. ("Cantech") (TSX VENTURE:NCV)(FWB:C7X) is pleased to announce that it has received assay results from the last eight drill holes from its 2006 drill program at the Silver Coin Project on its Indi Property. The drilling intersected high gold values in the Main Breccia zone on the Indi Property with drill hole 124 recovering 2.64 g/t Au and 424 g/t Ag over 9.14 metres.

The Indi Property is a gold-silver-base metal Joint Venture Property located about 24 kilometers north of Stewart, British Columbia. The Indi Property is a Joint Venture Property owned 45% by Cantech with the 55% balance shared by Pinnacle and Mountain Boy.

The Indi Property is contiguous to the Silver Coin Properties held by Pinnacle Mines Ltd., Mountain Boy Minerals Ltd. and Tenajon Resources Corp. Cantech formerly called the eastern area of the Indi Property the Indi Dauntless Gold Project. Cantech now is calling this area the Silver Coin Project as it is part of the overall mineral exploration project involving Pinnacle, Mountain Boy and Tenajon. All of these contiguous properties together are also now called the Silver Coin Project.

The Silver Coin Project is a gold-silver-base metal property with a National Instrument 43-101 total inferred resource estimated at 500,000 ounces of gold and 2.11 million ounces of silver calculated prior to the 2006 diamond drill program. None of that past mineral resource calculation applied to the Indi Property, but a new resource calculation will encompass the Indi portion of the Silver Coin Project - see below for further details.

Drilling on the Indi Silver Coin Project was along the faulted off extension of the Main Breccia zone located along the west side of Dan Hill on the Joint Venture Indi 9 claim. Work has indicated that the faulted off extension has been traced for approximately 200 meters in this area on the Indi 9 claim. Work has indicated that the Main Breccia zone is open along strike to the south back on to the balance of the Silver Coin Project held by Pinnacle and Mountain Boy.

Intersections in DDH - 2006 - 117 to 124 are shown in the table below. Assay results are incomplete for DDH-121 with missing assays in the middle of the mineralized zone. No significant mineralization was encountered in DDH 123.



From To Width Au Ag Cu Pb Zn CLAIM
DDH (m) (m) (m) g/t g/t % % % TESTED

2006-117 5.79 28.66 22.82 1.26 6.66 0.03 0.13 0.91 Indi 9
and 63.72 66.77 3.05 1.75 5.0 0.008 0.07 0.48 Indi 9
and 135.37 136.89 1.52 1.08 6.8 0.019 0.13 0.24 Indi 9
and 141.46 142.99 1.52 1.01 3.5 0.003 0.02 0.05 Indi 9
and 174.09 184.15 10.03 1.41 5.07 0.009 0.06 0.70 Indi 9

2006-118 5.79 36.28 30.4 1.34 6.69 0.02 0.07 0.59 Indi 9

2006-119 7.32 8.84 1.52 1.0 6.8 0.03 0.04 2.22 Indi 9
and 10.37 11.89 1.52 1.66 6.6 0.003 0.04 0.08 Indi 9
and 19.51 21.04 1.53 1.71 12.8 0.032 0.98 1.33 Indi 9

2006-120 5.79 7.77 1.98 1.21 13.6 0.053 0.08 3.07 Indi 9
less
than
and 94.21 95.73 1.52 1.9 2.1 0.001 0.02 0.11 Indi 9
less
than
and 104.88 106.40 1.52 1.05 2.4 0.001 0.01 0.01 Indi 9
and 132.32 133.84 1.52 1.28 3.4 0.004 0.06 0.09 Indi 9
and 135.37 136.89 1.52 1.04 4.5 0.012 0.09 0.22 Indi 9

2006-121 4.27 24.09 19.76 1.62 8.48 0.02 0.25 1.09 Indi 9
and 25.61 33.23 7.61 2.31 14.48 0.05 0.57 1.02 Indi 9

2006-122 97.26 98.32 1.07 1.81 1.5 0.003 0.01 0.03 Indi 9
and 109.45 112.50 3.05 2.5 2.0 0.003 0.04 0.11 Indi 9
and 115.55 117.07 1.52 2.49 26.6 0.002 0.01 0.02 Indi 9

2006-124 39.33 48.48 9.14 2.64 424.0 0.009 0.09 0.40 Indi 9
including 40.24 41.77 1.52 11.97 24.53 0.013 0.13 0.43 Indi 9
and 115.55 18.60 3.05 1.12 4.5 0.006 0.04 0.07 Indi 9
and 188.72 197.87 9.15 1.37 2.45 0.01 0.048 0.25 Indi 9


Extent of Deposit on Cantech's Indi Property

Accordingly, the recent diamond drilling confirms that the mineral deposit located on the Silver Coin Project dips to the west and extends onto the Indi Property. Further drilling is required to determine the extent of the deposit on the Indi Property.

Operatorship

During the 2006 field season, Pinnacle has been the operator of the Silver Coin Project, including that drilling on the Joint Venture Indi Property.

Earlier Resource Calculation on the Contiguous Silver Coin Property

On March 15, 2006, Pinnacle Mines Ltd., Mountain Boy Minerals Ltd. and Tenajon Resources Corp. announced a resource estimate on that portion of the Silver Coin Project not involving the Indi Property. The resource estimate was prepared by Minefill Services, Inc. of Vancouver, British Columbia (see the announcement as filed in SEDAR.com).

The Technical Report dated April 27, 2006 prepared by Minefill Services Inc. disclosed a calculated Net Inferred Resource of 499,775 contained ounces of gold on the Silver Coin Property (not including any of the results of Cantech's Indi Property) and 2.11 million contained ounces of silver on the Silver Coin Property (see page 51 of the Minefill Technical Report filed in SEDAR.com). The mineral resource estimate consisted of 11.3 million tonnes grading 1.60 g/t Au and 6.64 g/t Ag, 0.056% Cu, 0.19% Pb, and 0.413% Zn and has was calculated in accordance with CIMM (2000) standards, at a zero cutoff.

Proposed Resource Calculation on the Silver Coin Project

The main objective of the 2006 Silver Coin diamond drill program was to provide information for the expansion of the existing resource on the Silver Coin Project. The new resource calculation is expected in involve the results of the diamond drilling on the Kansas mineral claim and the Indi Property. Following the receipt by Pinnacle of the assay results from the final drill holes on the overall Silver Coin Project, Pinnacle, Mountain Boy, Tenajon and Cantech will cause the production of a National Instrument 43-101 Report, including an updated and expanded resource calculation.

E. Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 and a director of Mountain Boy, is in charge of the exploration programs on behalf of Cantech, Pinnacle and Mountain Boy. Drill core and trench samples are assayed by Assayers Canada of Vancouver, BC.

ON BEHALF OF THE BOARD OF DIRECTORS

Dalton DuPasquier

NEW CANTECH VENTURES INC.


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