Nortec Ventures Corp.

Nortec Ventures Corp.

November 29, 2006 09:00 ET

Nortec Subsidiary Completes Phase 1 Diamond Drilling Program on Ganarin Epithermal Gold-Silver Project, Southern Ecuador

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 29, 2006) - Nortec Ventures Corp. (TSX VENTURE:NVT), ("Nortec" or the "Company"), is pleased to announce that the Company's subsidiary Minera Nortec Ecuador S.A. ("Nortec Ecuador") has completed Phase 1 diamond core drilling on the Ganarin epithermal gold-silver project, Southern Ecuador. A total of 1,612 metres were drilled with most of the drilling carried out on the Chamana Target. Drilling was mainly designed to test for continuity, extent and structural control of the gold-silver mineralization.

Chamana target area

Eight core holes totaling 1,180 metres were drilled on the Chamana target area, and were mainly designed to interpret the structural controls and metal zonation of the mineralization. This will help in planning the next stage of drilling. Details with respect to the assays and interpretation of the geology will be released on receipt of assay results from ALS Chemex Labs of North Vancouver, BC.

Rio Minas

One 146 metre hole was drilled to intersect the narrow 30 to 40 centimetre high-grade veinlets below the welded lapilli tuffs. The drill hole intersected the structures but was still in the intense propylitically altered welded lapilli tuffs. Information and assays from this hole will assist in the planning of next phase drilling in this area.

Loma La Cruz

Gold-silver mineralization at Loma la Cruz is present in intensive pyritifereous argillic and propylitic alteration zones with anhydrite, quartz and calcite fracture-fillings and veinlets. One 286 metre hole was drilled to test the zone at depth. Further systematic deep drilling will be required to determine the structural controls, alteration zonation as well as the continuity of the mineralization. Assay data is pending from the laboratory.

The Company holds an option to earn a 51% interest in the Ganarin epithermal gold-silver project and 70% interest in the Condorcocha Project, Southern Ecuador, from joint-venture partner Doubloon Exploration Corp. The Ganarin property is situated in the prolific Ganarin Mineral Belt. Iamgold Corporation's Quimsacocha gold deposit occurs in the same belt approximately 30 kilometres northeast of the Ganarin Property. Indicated resources within a one-kilometre long defined area of the Quimsacocha deposit are estimated to contain 2.8 million ounces of gold and 18.2 million ounces of silver.

Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, is the person responsible for initiating and guiding the work programs on the Property. Brian T. Malahoff, P.Geo, is the person responsible for the on-site management of the exploration programs on the Property. Mr. Vulimiri and Mr. Malahoff are qualified persons in accordance with National Instrument 43-101 guidelines.

For further details and locations of the various zones on the Ganarin Property and information on Nortec Ventures Corp., please visit the Company's website at and review the Company's press releases. Nortec is a mineral exploration and development company based in Vancouver, British Columbia. Nortec is earning an undivided 70% interest in Kollismaa-Naranka nickel-copper-PGE project, northern Finland and a 51% interest in TL nickel property, Voisey's Bay area, northern Labrador.

On behalf of the Board of Directors,


Mohan R. Vulimiri, President & CEO

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

Contact Information