Under the terms of the Second Amendment Agreement, Finore will have the option to earn 100% interest in the Property upon completion of the following:
• issuing 41,000,000 Shares to Nortec within five (5) business days of signing the Second Amendment Agreement and completing the required filings with the Canadian National Stock Exchange (the “CNSX”) for the issuance of such common shares;
• paying in full any amounts owed by Finore to third parties, whether incurred directly or indirectly, with respect to exploration expenditures incurred on the Property; and
• granting Nortec the right to nominate two persons for appointment or election to Finore’s Board of Directors.
Furthermore, if Finore completes all of its obligations above and issue an additional 917,707 Shares to Nortec, Finore will deem to have exercised the option to acquire 100% interest in the Property.

Nortec participated in Finore's Private Placement in the aggregate amount of 30,800,000 common shares at a price of $0.025 per share, for gross proceeds of $770,000 as announced in Finore’s news release dated February 19, 2013. Nortec purchased 12,000,000 Shares of such Private Placement, which, combined with the 30,227,208 Shares already held by the Company and 41,000,000 Shares issued in relation to the Second Amendment Agreement, means that Nortec currently holds 84,144,915 Shares (or 60%, on an undiluted basis) of Finore.

Nortec is a “related party” of Finore (as such term is defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions) as it held approximately 45.11% of the issued and outstanding common shares of Finore prior to this transaction.

Mohan R Vulimiri, M.Sc., P. Geo, the CEO of Nortec states, “With this Second Amendment Agreement, subject to the underlying royalties, Nortec will become the largest shareholder of Finore with 60% ownership. Nortec will provide all corporate and technical guidance and assistance to bring the LK project to fruition into a substantial palladium-platinum-gold-copper-nickel resource in a world class district.”

About LK Project

The LK Project, a 100 % owned palladium-platinum–gold–copper-nickel (PGE+Au-Cu-Ni) property located in north central Finland. The LK project comprises of the following target areas (exploration claims and exploration claim applications): Kaukua, Haukiaho, Haukiaho East, Lipeävaara 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 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.

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 Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in Western Finland; an undivided 80% interest in the Karhujupukka Property in Northern Finland.

The Company recently signed an agreement to sell its 51% interest, subject 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.

The consideration of the sale of the Property shall be 1,000,000 fully paid and non-assessable common shares (“Consideration Shares”) in the capital of Vulcan, subject to regulatory hold periods, with Vulcan having a first right of refusal to purchase the Consideration Shares from Nortec. Vulcan shall grant to Nortec a 1% net smelter royalty (the “Royalty”) in the Property with buyback provision on $0.5% of the Royalty for $1,000,000, with cumulative royalty to be capped at $3,000,000.

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 Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in Western Finland; an undivided 80% interest in the Karhujupukka Property in Northern Finland.
Nortec recently agreed to transfer 100% interest, subject to net smelter royalties in the Läntinen Koillismaa Project, North Central Finland to Finore Mining Inc. for major share position in Finore. The Company has a minimum 51% interest with an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; 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.

 

Previous diamond core drilling carried out by Nortec in 2010 on the Marttalanniemi zone returned significant results (shown below):

• 87.4 metres @ 0.90 g/t Gold from 0.6 metres, including 4 metres @ 13.52 g/t Gold from 52 metres and 1 metre @ 50.1 g/t Gold from 52 metres (Hole MTL10-007)
• 99.0 metres @ 0.50 g/t Gold from 12.0 metres, including 19 metres @ 1.24 g/t gold from 59 metres (Hole MTL10-001)
• 68.5 metres @ 0.58 g/t Gold from 1.5 metres, including 12 metres @ 1.39 g/t from 12 metres and 14.95 metres @ 1.08 g/t gold from 49 metres (Hole MTL10-004)

The high grade intersection in Hole MTL10-007 is being followed up with drilling down-dip. The new drill hole is set up 50 metres behind the Hole MTL10-007. Holes will also be planned along strike.

The Phase Two till and bedrock sampling program consisted of several sub-parallel sampling lines on strike as well as the area in between the anomalous samples identified in the Phase One program completed in June 2012. Sampling was carried out with percussion drilling every 50 metres on several cross lines with one bedrock sample and one till sample in each hole over an area of 4 kilometres by 2.5 kilometres in the northwest direction. 106 bedrock samples and 104 till samples just above the bedrock samples were collected and analysed by Labtium Oy, a certified Finnish Government company based in Espoo and Kuopio, Finland.

Sampling from several cross lines from both phases on the Saarikoski Zone returned gold values in the range of 9 parts per billion (ppb) to 520 ppb. Three distinct anomalous areas were identified over an area of 2 kilometres by 700 metres. These areas also returned coincident Arsenic and Antimony values. Five drill holes are planned to test these anomalous areas.

The Seinäjoki project area also comprises the Katiaala prospect located 15 kilometres east of the Seinäjoki gold prospects. The Paleo-Proterozoic pegmatites in the Kaatiala and Seinäjoki area host tin, tantalum, berylium, niobium, tungsten, caesium and lithium mineralization. The Kaatiala reservation covers a quarry which produced 18 tonnes of beryl, 5 tonnes of columbite and 190,000 tonnes of rare mineral calcium feldspar, according to the information obtained from Geological Survey of Finland ("GTK"). GTK considers Kaatiala pegmatites to be one of richest in tantalum, niobium and lithium. Beryl is the source for beryllium and columbite is the source for tantalum and niobium.

Mohan R. Vulimiri, M.Sc., P.Geo. Executive Chairman and CEO and Director of Nortec and Mr. Jan H. Akkerman, Managing Director of Akkerman Exploration B.V. are the persons responsible for initiating and guiding the work programs on the Seinajoki Project and Mohan Vulimiri is the Qualified Person responsible for the contents of this press release.

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 Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in Western Finland; an undivided 80% interest in the Karhujupukka Property in Northern Finland. The Company has a minimum 51% interest with an option to earn 100% interest in the TL Nickel-Copper-Cobalt Property in Northern Labrador, Canada; Information on the Company's projects can be referred to on www.nortecminerals.com

The Company is well-financed for exploring the Seinäjoki, Tammela and Karhujupukka projects. All three projects have excellent potential with good infrastructure and access.

On behalf of the Board of Directors,

NORTEC MINERALS CORP.

"Mohan R. Vulimiri"

Mohan R. Vulimiri, Executive Chairman & CEO

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.

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.

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.

>The Phase Two program consisted of several sub-parallel sampling lines on strike as well as the area in between the anomalous samples identified in the Phase One program completed in June 2012.   Sampling was carried out with percussion drilling every 50 metres on several cross lines with one bedrock sample and one till sample in each hole over an area of 4 kilometres by 2.5 kilometres in the northwest direction.  106 bedrock samples and 104 till samples just above the bedrock samples were collected and sent for analysis to Labtium Oy, a certified Finnish Government company based in Espoo and Kuopio, Finland.  Results are expected in the next two to three weeks.

Sampling in the Phase One program returned gold values in the range of 11 parts per billion (ppb) to 436 ppb.  The sampling on one cross line ends with four anomalous values (13 ppb, 11 ppb, 76 ppb, 436 ppb), each 50 metres apart.  Another line approximately 600 metres east of this line commences with an anomalous sample analyzing 55 ppb gold, suggesting the area in between the two lines could potentially host a gold mineralized zone.  The Phase Two program covers this area (http://nortecminerals.com/files/sein.jpg).

Previous diamond core drilling carried out by Nortec in 2010 on the Martallanniemi zone returned significant results (shown below):

• 87.4 metres @ 0.90 g/t Gold from 0.6 metres (Hole MTL10-007), including 4 metres @ 13.52 g/t Gold from 52 metres
• 99.0 metres @ 0.50 g/t Gold from 12.0 metres (Hole MTL10-001)
• 68.5 metres @ 0.58 g/t Gold from 1.5 metres (Hole MTL10-004)

The high grade intersection in Hole MTL10-007 will also be followed up with more drilling along strike and down-dip.

The Seinajoki project area also consists of the Katiaala prospect located 15 kilometres east of the Seinajoki gold prospects. The Paleo-Proterozoic pegmatites in the Kaatiala and Seinajoki area host tin, tantalum, berylium, niobium, tungsten, caesium and lithium mineralization. The Kaatiala reservation covers a quarry which produced 18 tonnes of beryl, 5 tonnes of columbite and 190,000 tonnes of rare mineral calcium feldspar, according to the information obtained from GTK. GTK considers Kaatiala pegmatites to be one of richest in tantalum, niobium and lithium. Beryl is the source for beryllium and columbite is the source for tantalum and niobium.

Mohan R. Vulimiri, M.Sc., P.Geo. Executive Chairman and CEO and Director of Nortec and Mr. Jan H. Akkerman, Managing Director of Akkerman Exploration B.V. are the persons responsible for initiating and guiding the work programs on the Seinajoki Project and Mohan Vulimiri is the Qualified Person responsible for the contents of this press release.

Other News

With reference to the Company's news release dated September 22, 2009 and September 20, 2010, Akkerman Exploration has given Nortec a one year extension on the Seinajoki Project for the required work program of $1 million Euros. An additional option payment of $50,000 Euros and 1,000,000 shares of Nortec is to be made on the third anniversary of the Option Agreement dated September 15, 2010 between Akkerman Exploration and the Company. A total of € 520,000 Euros of exploration expenditures was completed to date.

>About Nortec Minerals 

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 Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in western Finland; a minimum 51% interest with 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.

Nortec and Finore Mining Inc. ("Finore") (CNSX: FIN)have negotiated an Amendment to the Option Agreement ("Amended Agreement") on the Läntinen Koillismaa ("LK") Project, previously announced by the Company on August 30, 2011.

Under the terms of the Amended Agreement Finore earns 70% interest in the LK project by completing the following: a) issuing an additional 27 million (27,000,000) common shares to Nortec; b) paying in full by Finore any amounts owed to third parties, whether incurred directly or indirectly on account of the exploration work on the LK Project and c) granting Nortec the right to nominate two persons for appointment or election to Finore's Board of Directors. The Company received 27 million shares of Finore pursuant to the Amended Agreement.

The Company signed an Option Agreement with Akkerman to earn an 80% interest in the Karhujupukka Iron-Titanium-Vanadium-PGE-Au-Cu-Ni project in Northern Finland. Nortec is commencing an air-borne time-domain Electro-magnetic geophysical survey on the Karhujupukka project. The Company recently completed airborne geophysical VTEM survey. The resulting anomalies are being evaluated, and will be released shortly. Preliminary results suggest the presence of several conductor anomalies.

Information on the Company's projects can be referred to on www.nortecminerals.com

Nortec has at present working capital of $2 million dollars in cash and 33,227,208 shares of Finore and an investment of US$200,000 in The Golden Rule Ltd., a private company with assets in the Republic of Guinea.

On behalf of the Board of Directors,

NORTEC MINERALS CORP.

"Mohan R. Vulimiri"

Mohan R. Vulimiri, Executive Chairman & CEO

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.

Under the terms of the Amended Agreement Finore earns 70% interest in the LK project by completing the following:

· Issuing an additional 27 million (27,000,000) common shares to Nortec within 3 business days of completing the required filings with the Canadian National Stock  Exchange (the "CNSX") for the issuance of such common shares.

· Paying in full by Finore any amounts owed to third parties, whether incurred directly  or indirectly on account of the exploration work on the LK Project on behalf of Finore.

· Granting Nortec the right to nominate two persons for appointment or election to Finore's Board of Directors.

The 27 million common shares of Finore issued and delivered to Nortec brought Nortec's share holdings in Finore to 30,227,208 common shares. This represents 45% of Finore's issued and outstanding common shares.

Finore is using its best efforts to raise new funding of € 2,500,000 Euros as soon as possible for on-going exploration programs on the Property. The € 2,500,000 Euros is required to be spent prior to the formation of a joint venture.

About Nortec Minerals Corp.

Nortec is a mineral exploration and development company based in Vancouver, British Columbia. In addition to its interest in the LK Project 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 Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in Western Finland; an undivided 80% interest in the Karhujupukka Property in Northern Finland. The Company has a minimum 51% interest with 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. Information on the Company's projects can be referred to on www.nortecminerals.com.

The Company is well-financed for exploring the Seinajoki, Tammela and Kahujupukka projects. All three projects have excellent potential with good infrastructure and access.

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.

Under the terms of the Amended Agreement Finore earns 70% interest in the LK project by completing the following:

· Issuing an additional 27 million (27,000,000) common shares to Nortec within 3 business days of completing the required filings with the Canadian National Stock Exchange (the "CNSX") for the issuance of such common shares.

· Paying in full by Finore any amounts owed to third parties, whether incurred directly or indirectly on account of the exploration work on the LK Project on behalf of Finore.

· Granting Nortec the right to nominate two persons for appointment or election to Finore's Board of Directors.

The issuance of the 27 million common shares will bring Nortec's share holdings in Finore to 30,227,208 common shares representing 45% of Finore's issued and outstanding common shares.

Finore has also agreed that upon earning the 70% Interest it shall use its best efforts to raise new funding of € 2,500,000 Euros as soon as possible for on-going exploration programs on the Property. The € 2,500,000 Euros is required to be spent prior to the formation of a joint venture.

Under the original agreement Finore had the right to earn up to 80% interest in two stages comprises as follows:

· an initial 49% interest in the LK Project by: a) making payments totalling $4.5 million in cash to Nortec; b) issuing the equivalent of $2 million in shares of Finore; and, c) spending $5 million on exploration within 24 months, including a minimum of $2 million in the first 12 months.

· earn the remaining 31% interest by: a) making a payment of $3 million in cash to Nortec on or before the 3 year anniversary from the Effective Date; b) issuing the equivalent of $1 million in shares of Finore to Nortec; and, c) spending a further $5 million on exploration on the LK Project.

About LK Project

The LK Project, a 100 % owned palladium-platinum–gold–copper-nickel (PGE+Au-Cu-Ni) property located in north central Finland. The LK project comprises of the following target areas (exploration claims and exploration claim applications): Kaukua, Haukiaho, Haukiaho East, Lipeävaara 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. These areas will be followed up with systematic drilling. The new funding will be assigned to this drilling. The Lipeävaara and Murtolampi targets will also be tested with drilling.

The Haukiaho Target consists of three mineralized faulted blocks named from West to West Torkoaho Zone, Torkoaho Zone and the Haukiaho-Melarame Zone. The results from drilling to date returned significant assays in PGE, Au, Cu and Ni.

The Torkoaho Zone appears to thicken and flatten to the East. Only three drill holes Hau11-10, Hau11-18 and the GTK (Geological Survey of Finland) drill hole R386 were drilled over a strike distance of 400 metres. These drill holes returned significant higher grades.

Hole Hau11-010: 25.0 metres @ 0.72g/t PGE+Au; 0.23% Cu; 0.18% Ni from 66m Hole Hau12-018: 26.0 metres @ 1.01g/t PGE+Au; 0.33% Cu; 0.26% Ni from 104m

and 31.6 metres @ 1.04g/t PGE+Au; 0.34% Cu; 0.22% Ni from 134m

Hole R-386: 46.65 metres @ 0.88g/t PGE+Au; 0.30% Cu; 0.20% Ni from 36.05 metres

Systematic drilling will be carried out along strike from these holes over an area of minimum 650 metres by 400 metres. This will determine the continuity of mineralization on the Torkoaho Zone for grade and shallow resources amenable for open-pit development.

The West Torkoaho Zone was identified by drilling on the western margins of the main Torkoaho Zone (Hau11-16). Hau11-16 returned 30 metres grading 1.04g/t PGE+Au, 0.30% Cu and 0.20% Ni including 16.3 metres of 1.45g/t PGE+Au, 0.42% Cu and 0.28% Ni. The drill holes Hau11-16 and Hau11-17 penetrated the West Torkohao faulted block from the basement contact of the main Torkoaho Zone. This West Torkoaho Zone will be drilled to the west to determine the size, continuity and potential.

Shallow up-dip drilling will also be performed on the Haukiaho-Melarame Zone.

Results from Kaukua drilling are being interpreted and evaluated to calculate higher grade resources and to plan further drilling to define shallower resources. Assays from several drill holes from Kaukua are pending.

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 Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in Western Finland; an undivided 80% interest in the Karhujupukka Property in Northern Finland. The Company has a minimum 51% interest with 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. Information on the Company's projects can be referred to on www.nortecminerals.com

The Company is well-financed for exploring the Seinajoki, Tammela and Kahujupukka projects. All three projects have excellent potential with good infrastructure and access.

On behalf of the Board of Directors,
NORTEC MINERALS CORP.
"Mohan R Vulimiri"
Mohan R. Vulimiri, Executive Chairman & CEO

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.

The deep-penetrating VTEM survey will help delineate potential deep-seated conductive zones which could represent magmatic Ni-Cu-PGE massive sulphide bodies near the contact of the lower layers of ultramafic intrusions with the favourable Archean shield rocks composed of migmatites, pelitic and quartzitic metasediments. The recent discovery of Sakatti Ni-Cu-PGE deposit by Anglo American Mining in similar geological environment in Northern Finland attests to the fact that potential exists for the occurrence of magmatic massive sulphide deposits.

Geotech's VTEM system has been shown to locate discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity. The VTEM plus system is equipped with a high-sensitivity magnetic gradiometer for mapping geologic structure and lithology. Geotech is a leading innovator in the airborne electromagnetics industry through the development of new and progressive airborne geophysical technologies.

The results are expected in the next couple of weeks. If the results show distinct conductive bodies, detailed target drilling will be initiated.

The Karhujupukka project is located in northwestern Finland, about 20 kilometers southeast of Kolari and 150 kilometers northwest of Rovaniemi, the capital of Finnish Lapland. Karhujupukka is one of the few known magnetite-ilmenite deposits in Finland. The Swedish border passes 10km West of the area, together with a railroad connection to port and the industrial center of Kemi. The project is located at 200km from the Swedish Kiruna iron ore district (Malmberget mine).

Mineralization at Karhujupukka was discovered by the Geological Survey of Finland (GTK) in 1988 while drill testing a series of prominent magnetic anomalies in till covered areas. Subsequently, GTK outlined three centers of magnetite-ilmenite mineralization at Karhujupukka, Korthonletho and Karhuvuoma during three successive drilling campaigns from 1988 to 1996. In total 36 holes were drilled only into the magnetite-gabbro layers. GTK also calculated mineral resources, but Nortec is not taking this into account as it is non-compliant according to the NI 43-101 standards. The reader is referred to several published articles on the GTK and other websites.

Mineralization and Potential

The Kahujupukka Fe-Ti-V mineralization occurs as a plate-like body, hosted by the gabbroic units of the layered ultramafic intrusions, in between leuco gabbro-anorthosites in the hanging wall and pyroxenite to peridotite in the footwall. Drilling to date has outlined three centers of mineralization at Karhujupukka Central, Korthonletho to the east and Karhuvuoma to the west, over a combined strike length of some 5km. These three areas coincide with the magnetically anomalous zone which is visible in the low-altitude airborne magnetic data. The central Karhujupukka prospect dips at an angle of 50-60 degrees to the south, with a thickness of 50m in the center, 10m in the west and progressively thinning to 3m in the east.

According to published data (Karvinen, GTK Special Paper 10, 1988), the mineralization contains on average:

40% Fe, 5.5% Ti 0.3% V, 0.4% Cr, 0.04% Ni and 0.03% Cu and 0.02% Co, 100ppb Pt, 100ppb Pd and 20ppb Au ("PGE").

Anomalous values of nickel-copper-cobalt, palladium, platinum and gold in the upper layers of the ultramafic intrusive complexes strongly suggests that magmatic massive sulphide bodies similar to Voiseys Bay and Sudbury ore bodies can be present in the lower layers at the contact with the favourable Archean shield rocks.

GTK has not carried out any exploration into the deeper ultramafic layers and the basement, but core logs from several holes describe sulphide veins and concentrations, mostly pyrrhotite and chalcopyrite in the upper layers in the ultramafic intrusions. Assay information from the GTK database includes a small number of samples with significant nickel and copper results with anomalous Pt, Pd and Au values.

Mohan R. Vulimiri, M.Sc., P.Geo., CEO and Director of Nortec, and Mr. Jan Akkerman, Managing Director of AEbv, are the persons responsible for initiating and guiding the work programs on the Karhujupukka Project. Mo- han Vulimiri is the Qualified Person responsible for the contents of this press release.

About Nortec

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. Nortec has a 100% interest in the LK Palladium-Platinum-Gold-Copper-Nickel Project in north-central Finland; an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinäjoki Gold Property and Kaatiala Beryllium-Rare Earth Property in western Finland; a minimum 51% interest with 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. Information on the Company's projects can be referred to on www.nortecminerals.com

The Company is well-financed for exploring the Seinajoki, Tammela and Kahujupukka projects. All three projects have excellent potential with good infrastructure and access.

On behalf of the Board of Directors,
NORTEC MINERALS CORP.
"Mohan R Vulimiri"
Mohan R. Vulimiri, Executive Chairman & CEO

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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.