Vancouver, British Columbia - August 22, 2013. Nortec
Minerals Corp. ("Nortec" or the
"Issuer") (TSX-V: NVT) is pleased to announce the following:
Stock Option
Plan
At the Company's annual and special
meeting of shareholders held on May 28, 2013 ("AGSM"), shareholders
approved the amended and restated stock option plan (the "Plan"),
amending the former "fixed" plan to a "rolling" plan which reserves
a maximum of 10% of the total outstanding common shares of the
Company at the time of grant. TSX Venture Exchange ("TSXV")
approval of the Plan was received in June, 2013.
Extension of Share
Purchase Warrants
An application was filed with the
TSXV for a two (2) year extension of certain share purchase
warrants.
Share purchase warrants issued
pursuant to the 8,941,500 unit non-brokered private placement at a
price of $0.12 per unit announced on July 4, 2010. Each unit
consisted of one share and one share purchase warrant which is
exercisable to acquire one share of the Company at an exercise
price of $0.20 per share. The private placement was accepted for
filing by the TSXV on July 7, 2010. A total of 2,025,000 warrants
have previously been exercised. The share purchase warrants expiry
date has previously been extended for one year with an expiry date
of July 7, 2013.
TSXV approval was received on June
14, 2013 and the new expiry date of the warrants will be July 7,
2015.
Share purchase warrants issued
pursuant to the 735,000 unit non-brokered private placement at a
price of $0.12 per unit announced on July 26, 2010. Each unit
consisted of one share and one share purchase warrant which is
exercisable to acquire one share of the Company at an exercise
price of $0.20 per share. The private placement was accepted for
filing by the TSXV on August 5, 2010. A total of 100,000 warrants
have previously been exercised. The share purchase warrants expiry
date has previously been extended for one year with an expiry date
of August 4, 2013.
TSXV approval was received on June
14, 2013 and the new expiry date of the warrants will be August 4,
2015.
Change
of Address
As previously announced,
as of September 1, 2013, Nortec's new office address will be Suite
2300, 1066 West Hastings Street, Vancouver, British Columbia, V6E
3X4.
Other News
At the Company's AGSM the
shareholders elected the following individuals to the Company's
board of directors, Mohan Vulimiri, Peter Tegart, Balraj Mann,
Grant Crooker, Etienne Walter and Harvey Stark. Prior board member
Ernest Peters did not stand for re-election.
"On behalf of the board of directors, I thank Ernest Peters for
his valuable contributions to the Company during his tenure." said
Mohan Vulimiri, Chief Executive Officer of the Company.
About
Nortec Minerals Corp.
Nortec is
a mineral exploration and development company based in Vancouver,
British Columbia. The Company has
a 100% interest
in the Tammela
Gold & Lithium
Project in South-West
Finland; an option
to earn from
Akkerman Exploration B.V., a
100% interest in
the Seinajoki Gold Property
and Kaatiala Beryllium-Rare Earth Property in
Western Finland.
Nortec signed an
option agreement to transfer 100% ownership
of its wholly-owned Finnish subsidiary, Nortec Minerals Oy (NMOy),
to Finore Mining Inc. ("Finore"). NMOy holds 100% interest in
the Lantinen Koillismaa ("LK")
Palladium-Platinum-Gold-Copper-Nickel Project in
north-central Finland. Nortec currently holds
84,144,915 Shares (or 60%, on an undiluted basis) of
Finore.
The LK project comprises of the
following target areas (exploration claims and exploration claim
applications): Kaukua, Haukiaho, Haukiaho East, Lipeavaara and
Murtolampi targets.
Diamond core
drilling to date carried out by Finore defined areas for higher
grade potential resources amenable for Open-pit development at both
Haukiaho and Kaukua targets.
The previous NI 43-101 Mineral
Resource
estimate
of the Kaukua
and Haukiaho deposits was prepared by Watts Giffis
and Mcquat Ltd., a well known international geological and mining
consulting firm, in November
and December
2011 and filed on SEDAR on January 24,
2012.
Inferred
Mineral
Resource:
19.6
Million Tonnes @ 0.26g/t Pd;
0.09g/t Pt;
0.10g/t Au; 0.24%
Cu; 0.15%
Ni (Haukiaho).
8.5
Million
Tonnes @ 0.76g/t Pd;
0.27g/t Pt;
0.08g/t
Au; 0.16%
Cu ; 0.11% Ni (Kaukua).
A combined total of 28.1
Million
Tonnes
for 586,080 ounces
PGE+Gold (370,998 ounces
Pd; 130,311 ounces Pt; 84,770 ounces Au); 60,567 tonnes
of Cu
and 38,703 tonnes of Ni.
Indicated
Mineral
Resource (Kaukua):
2.6
Million Tonnes @ 0.67g/t Pd;
0.22g/t Pt; 0.07g/t Au; 0.17% Cu;
0.12%
Ni. for
80,399 ounces PGE+Gold (56,112 ounces Pd; 18,425 ounces Pt; 5,862 ounces Au), 4,429
tonnes of Cu and 3,126 tonnes of Ni.
The Company recently
sold its 51% interest,
subject to net smelter royalties, in
the TL Nickel-Copper-Cobalt Property
in Northern
Labrador, Canada to Vulcan
Minerals Inc.; Information
on the Company's
projects can
be referred
to on www.nortecminerals.com.
On behalf of the Board of
Directors,
NORTEC
MINERALS CORP.
"Mohan
R. Vulimiri"
Mohan R. Vulimiri, CEO
and Chairman
The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this news
release.
This press
release contains certain forward looking statements which involve
known and unknown risks, delays and uncertainties not under the
Company's control which may cause actual results, performances or
achievements of the Company to be materially different from the
results, performances or expectations implied by these forward
looking statements. This news
release does not constitute an offer to sell or a solicitation of
an offer to buy any of the securities in the United
States.
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