Nortec Minerals Restructures Management and Board of Directors
Vancouver, B.C., February 22, 2010: Nortec Minerals Corp. (TSX-V:NVT), ("Nortec" or the "Company"), is pleased to announce the restructuring of the Board of Directors. Mohan Vulimiri has accepted the position of Executive Chairman and Chief Executive Officer, Etienne Walter has been appointed as Non-executive Chairman and Independent Director, and Ian Laurent was appointed President and Director.
Balraj Mann, Nortec’s Chief Financial Officer, has also been appointed as Director. Peter Tegart has been appointed Executive Director. Richard Richards, Grant Crooker and Ernest Peters are Independent Directors of the Company.
Mohan Vulimiri explains,
“Ian is a proven leader from an organization and management point of view. He brings a broad base of mining exploration, resource development and business experience to the Company. I am confident that his expertise will help drive the Company to further success in the near term.”
The new appointments are effective as of February 17, 2010.
A total of 1,000,000 options at an exercise price of $0.10 per share for a period of 5 years are granted to the directors.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has an option to earn 100% interest in the Seinajoki-Kaatiala Gold-Antimony-Rare Earth-Lithium Property in western Finland and owns a 100% interest in the Tammela Lithium-Tin-Tantalum-Rare Earth Project in southwest Finland. 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 the Geological Survey of Finland (“GTK”).
Nortec also has a 100% interest in the LK Palladium-Platinum-gold-Copper-Nickel Project (the combined Kaukua & Haukiaho Projects) in north-central Finland, a minimum 51% interest with an option to earn 90% 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,
NORTEC MINERALS CORP.
“Ian Laurent”
Ian Laurent, President
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.
NORTEC MINERALS CORP.
Suite 875 - 555 Burrard Street, Box 208, Bentall Two Centre Vancouver, BC, CANADA V7X 1M8 Phone: 604-717-6426 Fax: 604-683-9649 Toll Free: 1-866-658-1261