NVT.V · 2020-09-24 12:00:00

Nortec Minerals commences Exploration Program on the Cottonwood Uranium- Vanadium Project, Southeast Utah and provides update regarding Tomboko Gold

Exploration Programs

NORTEC MINERALS CORP .

TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF

Suite 615, 800 West PenderStreet

Vancouver BC V6C 1V6, Canada

Phone: +1 604-717-6426

NORMIECU S.A.

S 864 RafaelleGianetti y las Begonias

Quito Ecuador

Phone: +593 3554855

TAMMELA MINERALS Oy

c/o KalliolawAsianajotoimisto Oy

Eteläranta 12,

FI-00130 Helsinki, Finland

Phone: +358 9 6812 930

Nortec Minerals commences Exploration Program on the Cottonwood Uranium-

Vanadium Project, Southeast Utah and provides update regarding Tomboko Gold

Project in Guinea

Vancouver, BC / September 24, 2020 – NORTEC MINERALS CORP . (the “Company” or

“Nortec”) (TSXV: NVT): Further to the Company’s press release dated September 15, 2020 ,

Nortec is pleased to announce that it has commenced an exploration program on its Cottonwood

Uranium-Vanadium Project (the “Cottonwood Property”) located in Garfield County, Southeast

Utah, USA. The Cottonwood Property is located approximately 372 kilometres (230 miles) by

road southeast of Salt Lake City, Utah and is situated in the Cottonwood Wash-Trachyte uranium-

vanadium district, Henry Mountains Basin.

The Phase 1 exploration budget will be approximately US$100,000 and includes but not limited

to:

 Compiling available historical and published scientific data on the documented mineral

occurrences and the underground workings;

 Detailed geological mapping with emphasis on stratigraphy;

 Radiometric survey including channel sampling of mineral occurrences and anomalous

areas;

 Stratigraphic analysis and interpretation to determine trends of mineralized channels;

 Track Etch orientation survey to locate any hidden zones;

 Project management;

 Permitting for shallow diamond drilling of potential targets; and

 Completing a National Instrument 43-101 (“NI 43-101”) compliant Technical Report in

respect of the Cottonwood Property.

The Company’s management and its board of directors believe that this cost-efficient Phase 1

program will facilitate the delineation of targets for diamond drilling.

Please refer to t he Company’s September 15, 2020 press release in respect of the detailed

geology, historical and published technical data and on-going exploration being carried out by

other companies in Southeast Utah.

Mohan R. Vulimiri, M.Sc., P .Geo., Director of Nortec Minerals, and O. Jay Gatten, B.S., CPG, are

Qualified Persons as defined by NI 43 -101. Mr. Vulimiri and Mr. Gatten have approved the

scientific and technical information in respect of the Cottonwood Pr operty contained in this

press release.

NORTEC MINERALS CORP .

TSX-V: NVT / FSE: WMQ / OTC-PK: NMNZF

Suite 615, 800 West PenderStreet

Vancouver BC V6C 1V6, Canada

Phone: +1 604-717-6426

NORMIECU S.A.

S 864 RafaelleGianetti y las Begonias

Quito Ecuador

Phone: +593 3554855

TAMMELA MINERALS Oy

c/o KalliolawAsianajotoimisto Oy

Eteläranta 12,

FI-00130 Helsinki, Finland

Phone: +358 9 6812 930

Update in respect of the Tomboko Gold Property, Guinea

Alamako Corporation International (“Alamako”) has recently advised the Company that it no

longer recognizes the Company’s ownership interest in the Tomboko Gold Property in Guinea.

The Company had originally entered into an option agreement on January 10, 2017 (the “Original

Option Agreement”) with predecessors in title to the property to earn up to an 80% interest in

the property, and the Company had subsequently incurred exploration expenses on the property

to earn a 51% interest in the property. As previously disclosed, the Company and Alamako, the

current holder of permits that encompass the Tomboko Gold Property, had reached an impasse,

as the Company sought to enter into an option agreement with Alamako to solidify the

Company’s claim of a 51% beneficial ownership interest in the Tomboko Gold Property, and

Alamako had refused to execute a new option agreement until Nortec first reimbursed it for

monthly standby expenditures that Alamako claimed it had incurred.

The Company disputes Alamako’s assertions and the Company intends to take steps with a view

to protecting its interest in the Tomboko Gold Property.

About Nortec Minerals Corp.

Nortec is a mineral exploration and development company based in Vancouver, British Columbia.

Nortec has a 17% interest in the Tammela Gold & Lithium Project in Southwest Finland. The

Company has incurred over CDN$2.9 million in exploration, diamond drilling and support costs

to earn a 51% interest in the Tomboko Gold Project, Northeast Guinea, West Africa. The

Company is also evaluating advanced properties in Ecuador. Detailed information on these

projects are posted on the Company’s website www.nortecminerals.com.

On behalf of the Board of Directors,

“Mohan R. Vulimiri”

Mohan R. Vulimiri, Director

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains

certain forward-looking information which involve known a nd unknown risks, delays and uncertainties not under

the Company’s control which may cause actual results, performances or achievements o f the Company to be

materially different from the results, performances or expectations implied by the forward-looking information. 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.

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