New Cantech Ventures Inc.: Shareholders Meeting Strengthens Board of Directors and Approves Name Change to Nanika Resources Inc.

VANCOUVER, BRITISH COLUMBIA (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

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.

Contacts: New Cantech Ventures Inc. Doug Kerr [phone] or Toll Free: 1-866-580-0699 [phone] (FAX) New Cantech Ventures Inc. Derek Huston [phone] or Toll Free: 1-800-665-4288 Website: www.newcantech.com