Nortec Minerals announces the Closing of the Private Placement

NORTEC MINERALS CORP .

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

Suite 615, 800 West Pender Street

Vancouver BC V6C 2V6, Canada

Phone: +1 604-717-6426

NORMIECU S.A.

S 864 Rafaelle Gianetti y las

Begonias

Quito Ecuador

Phone: +593 3554855

TAMMELA MINERALS Oy

c/o Kalliolaw Asianajotoimisto Oy

Eteläranta 12,

FI-00130 Helsinki, Finland

Phone: +358 9 6812 930

Nortec Minerals announces the Closing of the Private Placement

Vancouver, BC / August 5, 2020 – NORTEC MINERALS CORP. (the “Company” or “Nortec”) (TSXV: NVT) –

This is further to Nortec’s press release dated June 16, 2020 announcing the Private Placement pursuant to

a discretionary waiver of the $0.05 minimum pricing requirement granted by the TSX Venture Exchange.

The Company announces that it has closed 24,045,000 units for gross proceeds of $2 40,450. Each Unit

consisting of one common share and one half (1 / 2) common share purchase warrant (each whole warrant, a

“Warrant”), with each Warrant entitling the holder to purchase one additional common share at an exercise

price $0.05 per common share for a period of two years from the date of issue

The Shares will be distributed to purchasers in accordance with the rules and regulations of the Securities

Act and TSX Venture Exchange policies which includes a 4 (four) month hold period from the date of

issuance. Finder's fees will be paid on portions of the Placement in accordance with TSX Venture policies.

The Company intends to use the proceeds of the Private Placement for paying arms-length payables,

including legal, auditing, accounting, filing fees and listing fees, and to repay the outstanding principa l

amount of a $100,000 convertible debenture and interest owing in respect thereof.

The Company has submitted the requisite Form 4B – Notice of Private Placement to the TSX Venture

Exchange.

About Nortec Minerals Corp.

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

earned a 51% interest in the Tomboko Gold Project, Northeast Guinea, West Africa. Nortec also has a 100%

interest, subject to a 1% Net Smelter Returns Royalty, in the Cottonwood Vanadium -Uranium property

located in Utah, USA, and a 17% interest in the Tammela Gold & Lithium Project in Southwest Finland.

Detailed information on these projects are 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, Director

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or

accuracy of this news release.