Nortec Minerals Corp.

Nortec Minerals Corp.

December 14, 2010 10:16 ET

Nortec Minerals Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2010) - Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) ("Nortec" or the "Company") announces that the Company's Board of Directors accepted the resignation of Mr. Richard (Dick) L. Richards, CA, effective December 10, 2010.

Mr. Richards served as a Director since December 22, 2003, the time of Company's Qualifying Transaction from a capital pool company to a resource-based mining exploration company. He also served as the Chairman of the Audit Committee.

Mohan R. Vulimiri, Executive Chairman of Nortec, said, "On behalf of the Board of Nortec I wish to express our sincere thanks to Dick for his participation on the Board of Directors. Dick was instrumental in helping streamline the financial statements according to the rules and regulations of the Securities Commissions and the TSX Venture Exchange and he also participated in the various Nortec private placement financings."

Mr. Richards is appointed to the Advisory Board as Advisor, Corporate Matters.

In other news, Etienne Walter, non-executive Chairman of Nortec, wishes to apologise for the misunderstandings caused by his recent trading activity in the shares of Nortec. The Company had many enquiries with regards to this trading. Etienne exercised his options for the benefit of the Company, but had to relinquish a substantial portion of his share position for personal reasons. This has no relationship with the Company's activities in Ecuador which he fully supports. Nortec's activities in Ecuador are proceeding favourably and as planned.

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 Lithium-Tin-Tantalum Project in south-west Finland; a 100% interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project in north-central Finland The Company has an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinäjoki-Gold-Antimony Property and Kaatiala Rare Earth-Beryllium-Tin-Lithium Property in western Finland, an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; and, an option to acquire 51% interest in the Ganarin Gold-Silver Property, Ecuador.

On behalf of the Board of Directors,


Mohan R. Vulimiri, Executive Chairman & CEO

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.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Nortec Minerals Corp.
    Mohan R. Vulimiri
    Executive Chairman & CEO
    +1 604-717-6426
    +1 604-683-9649 (FAX)