Nortec Minerals announces Private Placement
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
Nortec Minerals announces Private Placement
Vancouver, BC / The Newswire / November 13, 2018 – NORTEC MINERALS CORP . (the
“Company” or “Nortec”) (TSXV: NVT): Nortec is arranging a non-brokered private
placement (“Placement”) of up to 15,000,000 shares (“Shares”) of the Company at a price
of $0.05 per Share for gross proceeds of up to $750,000.
The Shares will be distributed to purchasers in accordance with the rules and regulations of
the Securities Act and TSX Venture Exchange policies. All Shares issued will be subject to a
4 (four) month hold period from the date of issuance in accordance with applicable rules
and regulation of the Securities Act and TSX Venture Exchange policies. A finder's fee may
be payable on portions of the Placement. Completion of this Placement is subject to the
approval of the TSX Venture Exchange.
The proceeds of the Placement will be used to commence the Phase 1 drilling program on
the TOM-1 North Zone, as recommended in the NI43-101 compliant report authored by Dr.
Serigne Dieng, Ph.D., AuSIMM , and for working capital. The “Conclusions and
Recommendations” chapter was reported in the Company’s November 1, 2018 news
release and the Technical Report was subsequently filed on SEDAR.
The Tomboko Gold Project consists of an exploration license covering a surface area of
75.45 km2 in the Siguiri Basin, North-eastern Guinea, West Africa.
The Phase I RC Drilling Program is budgeted for US$ 555,000. This is based on t he detailed
structural and geological logging and structural interpretation and modelling on the
diamond drill -tested TOM -1 North deposit undertaken by Nortec in June 2018 . This
resulted in a coherent and comprehensible new geological and structural model that gives
a better understanding of the structural setting and the style of the gold mineralization and
re-orient further drilling programs. The Phase I RC drilling program objectives are therefore,
to:
Test the proposed geological and structural model of the gold deposit;
Test a strike length of 600 meters over the interpreted mineralized structure;
Define and delineate laterally and down dip the gold deposit within the interpreted
structure;
12 fences spacing 50 meters apart; and
2 RC holes for each fence totalizing 3,600 meters. Holes are oriented north -east,
inclined 50o and depth varying between 175 to 80 meters.
NORTEC MINERALS CORP .
TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF
Suite 2000, 1066 West Hastings Street
Vancouver BC V6E 3X4, Canada
Phone: +1 604-717-6426
NORTEC MINERALS Oy
c/o Kalliolaw Asianajotoimisto Oy
Eteläranta 12,
FI-00130 Helsinki, Finland
Phone: +358 9 6812 930
As a result of the positive results from the historical and Nortec’s work programs, several
parties have expressed interest in the Tomboko Project. Nortec is determined to complete
the work programs that will bring the Tomboko project to the next level. These programs
were recommended and planned to develop the potential of the Tom -1 North, South,
Tom-2 and Tom-3 targets.
Mohan R. Vulimiri, M.Sc., P .Geo, Director and CEO of Nortec Minerals, is a Qualified Person
as defined by NI 43 -101. Mr. Vulimiri has approved the corporate and technical content
contained in this press release.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, Brit ish
Columbia. The Company has a 49% interest in the Tammela Gold & Lithium Project in
South-West Finland. Sunstone Metals (formerly Avalon Minerals), a public Australian
mining company has earned the 51% interest and is carrying out the 29% Stage 2 earn -in
interest on the Tammela Project. Avalon has completed more than 3,000 meters diamond
drilling on the Kietyonmaki lithium prospect and the Satulinmaki and Riukka prospects that
comprise the Tammela Project. Detailed information on the Company’s projects have been
posted on the Company’s website 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 Exch ange 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 C ompany’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.