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November 17, 2014 9:44 am
Vancouver, BC / TNW - Accesswire / Vancouver, B.C., November 17, 2014 - Further to the press release, dated September 22, 2014, Nortec Minerals Corp. (TSX-V: NVT), ("Nortec" or the "Company") reports the Company will not be proceeding with the 100% acquisition of the Golden Zone Property in South-central Alaska. The two Memoranda of Understanding ("MOU") signed by Nortec, Chulitna Mining Company LLC, Mines Trust Co. and Hidefield Gold, Limited & Hidefield Gold (Alaska) in September, 2014 is cancelled.
The Company had to undertake this decision due to the difficult market conditions for raising sufficient capital to prepare for the development of the Golden Zone Property and in general for junior exploration and mining companies.
About Nortec Minerals Corp.
Nortec is a mineral exploration and development company based in Vancouver, British Columbia. The Company has a 100% interest in the Tammela Gold & Lithium Project in South-West Finland; The Company also holds a majority shareholding interest in its subsidiary, Finore Mining Inc. Finore controls a 100% interest in the Lantinen Koillismaa PGE-Au-Cu-Ni deposit, Finland. Information on the Company's projects can be referred to on 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 Exchange 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 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.
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