Nortec Submits Business Proposal to National Mining Corporation (ENAMI EP), Ecuador
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/15/10 -- Nortec Minerals Corp. (TSX VENTURE: NVT)(PINK SHEETS: NMNZF)(FRANKFURT: WMQ) ('Nortec' or the 'Company'), is pleased to announce that Mohan R. Vulimiri, Executive Chairman and CEO met with the Vice-minister for Non-renewable Natural Resources, the General Manager, and the technical, legal, and social executives of the newly formed National Mining Corporation (ENAMI) on June 8, 2010. Nortec submitted a formal business proposal to the General Manager of ENAMI, Mr. Jose Cisneros on June 11, 2010. The proposal consisted of forming a participating association or a consortium with ENAMI and the Ministry of Non-renewable Natural Resources as part of its business model for exploration and development of mineral resource projects in Ecuador.
This business proposal was developed after well-received presentation meetings with the President of Ecuador and his cabinet on March 25, 2010, with the Minister of Non-renewable Natural Resources along with the Vice-minister for Non-renewable Natural Resources, General Manager of ENAMI and his team on April 22, 2010, and again with the ENAMI team on May 19, 2010.
Nortec is expecting a reply and feedback to the proposal and the shareholders will be advised promptly in the event that a formal agreement between the parties is signed that will lead to participation in mineral projects. Details with respect to the projects will be released subsequently.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has an option to earn from Akkerman Exploration B.V., a 100% interest in the Seinajoki- Gold-Antimony Property and Kaatiala Rare Earth-Beryllium-Tin-Lithium Property in western Finland. Nortec has a 100% interest in the Tammela Lithium-Tin-Tantalum Project in south-west Finland; 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 100% 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 F. Laurent, President
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.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Contacts:
Nortec Minerals Corp.
Ian F. Laurent
President
+1 604-717-6426
+1 604-683-9649 (FAX)
www.nortecminerals.com