Nortec Minerals Announces Results of Annual General Shareholders Meeting

VANCOUVER, British Columbia, Oct. 23, 2020 (GLOBE NEWSWIRE) -- NORTEC MINERALS CORP. (the “Company” or “Nortec”) (TSXV: NVT) (FSE: WMQ) (OTC-PK: NMNZF): – Nortec is pleased to announce that all of the resolutions that shareholders were asked to consider at its annual general meetings held in Vancouver, British Columbia were approved.

The number of directors of the Company was set at seven, and Mohan R. Vulimiri, Peter F. Tegart, Derrick Weyrauch, Carlos Fernando Jaramillo Munoz, Michael Malana, Jeffrey Selder, and Jason Birmingham were elected to serve on the board of directors of the Company (the “Board”).

The Company is pleased to welcome Mr. Derrick Weyrauch to the Board. Mr. Weyrauch is a Chartered Professional Accountant, Chartered Accountant with over 29 years of corporate experience. Most recently the President and Chief Executive Officer of Palladium One Mining Inc. (TSXV: PDM) and an independent director of Cabral Gold Inc, (TSXV: CBR) he is also the founder and a director of Magna Mining Corp., a private mining company. Previously Mr. Weyrauch has held directorships and executive management roles with a number of public companies including exploration, development and operating mining companies. His broad range of experience will be an asset as Nortec advances both its current and additional projects in the future.

The Company is also pleased to appoint Mr. Michael Malana, Nortec’s Chief Financial Officer and Corporate Secretary to the Board. Mr. Malana is a Certified Professional Accountant, Certified Management Accountant. Nortec appreciates his assistance in administration, accounting and reporting for Nortec since 2017. He has extensive experience serving in the management of several public companies.

Mr. Harvey Stark did not stand for re-election to the Board. The Board and management wish to thank Mr. Stark for his valuable services and contributions to the Company.

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,

NORTEC MINERALS CORP.

“Mohan R. Vulimiri”
Mohan R. Vulimiri, Director

Forward-looking Statements

Certain statements contained herein constitute "forward-looking information" under applicable Canadian securities laws ("forward-looking statements"). Forward looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "shall", "will", and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks more fully described in the Company's continuous disclosure documents, which are available on SEDAR at www.sedar.com.

Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company's expectations as of the date hereof.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NORTEC MINERALS CORP.
Phone: +1 604-717-6426