Mr. Cameron Bell reports

NORTEC CONFIRMS MULTIPLE VOLCANOGENIC MASSIVE SULFIDE ('VMS') COPPER - ZINC - GOLD - MANGANESE TARGETS AT STURGEON LAKE VMS PROJECT, ONTARIO, CANADA

Nortec Minerals Corp. has released initial soil sampling results from the 2023 soil sampling program on the Sturgeon Lake VMS (volcanogenic massive sulphide) project. Results from the first of four soil grids have confirmed anomalous copper-zinc-gold (Cu-Zn-Au) and manganese (Mn) values, coincident with both magnetic and electromagnetic (EM) geophysical survey results, thereby confirming prospectivity of three high-priority VMS targets in Grid 1 of the 2023 VTEM (versatile time domain electromagnetic) survey (see news release dated May 31, 2023).

Highlights:

• Three high-quality targets identified, where highly anomalous copper-zinc-gold and manganese (a key pathfinder in the Sturgeon Lake camp) were discovered in soils, and are coincident with both magnetic and electromagnetic geophysical survey results.
• Ground truthing of the northeast copper target is continuing to expose the potential for a high-grade copper-rich VMS discovery.
• Drill permits have been received for the Sturgeon Lake project.
• The company has been selected as a 2023 OJEP (Ontario Junior Exploration Program) recipient and appreciates Ontario's financial commitment to early-stage exploration projects, such as its critical mineral project at Sturgeon Lake.

"The initial results from the 2023 soil survey clearly demonstrate the strong prospectivity of this underexplored part of the Sturgeon Lake VMS camp. We now have established drill targets that host the correct technical criteria for a potential VMS deposit discovery. As the remainder of our soil assays and ground EM data are received and interpreted, we hope to continue generating drill targets for the 2024 drilling campaign," stated Cameron Bell, vice-president of exploration.

Soil results on grid 1 have confirmed the presence of three high-quality VMS targets that all host coincident magnetic and EM values, with each having a depositional geometry.

VMS target 1 hosts a strong correlation between high Cu, Zn, Au and Mn soil assays in and around two strongly coincident magnetic and EM anomalies. Limited and shallow historical drilling within the target 1 area have provided results of 5.8 grams per tonne (g/t) Au, 4.5 g/t silver (Ag) and 0.64 per cent lead (Pb) over 0.9 m in historical hole C81-2, thereby confirming that the target is mineralized.

VMS target 2 hosts a significant copper soil anomaly of 2,450 parts per million (ppm), or 0.245 per cent, within a coincident magnetic and EM anomaly, and has never been drill tested.

Work on the northeast copper target (soil grid 4) is confirming the potential for a new copper-rich VMS discovery in an underexplored part of the Sturgeon Lake camp, namely the central sturgeon assemblage. Five short historic holes have been drilled in the area's more-than-two-kilometre strike length and each hole intersected VMS depositional lithologies, alteration and sulphide mineralization, which are characteristic of a copper-rich VMS mineral system. Two holes, C-2 (Ontario assessment file 52G15NW0042) and H-9, intersected pervasive sections of copper-rich stockwork mineralization (0.16 per cent Cu over 15.2 m and 0.34 per cent Cu over 13.4 m, including 3.1 per cent Cu over 0.3 m, respectively) on the periphery of the 2023 VTEM anomalies. The company has recently completed a ground EM survey (results pending) to help define discrete VMS conductors for target refinement in the planned 2024 drill program. The area is fully permitted for drill testing.

The 2023 soil sampling program is complete and remaining results are expected in the coming weeks.

Ontario Junior Exploration Program (OJEP)

The company is also pleased to announce it has been selected as a recipient of the 2023 OJEP funding program with support of up to $200,000 having been awarded to the company.

About Sturgeon Lake VMS property

The Sturgeon Lake VMS property lies immediately north and adjacent to Glencore's past-producing mines and is host to the highly prospective continuation of the volcanogenic massive sulphide-producing volcanic stratigraphy. Numerous historical drill intercepts on the property host anomalous zinc-copper mineralization and favourable VMS geology. Drill holes H-9 (Ontario assessment file 52G15NW0086) and C-81-2 (Ontario assessment file 52G15NW0038) also display strong potential for both copper- and gold-rich VMS systems in two highly prospective areas, where drill intercepts of 3.1 per cent Cu over 0.3 m and 5.8 g/t Au over 0.9 m were realized.

The Sturgeon Lake VMS mining camp is host to five high-grade past-producing zinc-copper-lead-silver-gold mines of Glencore PLC, having a total combined production of 19.8 million tonnes (Mt) at 8.50 per cent Zn, 1.06 per cent Cu, 0.91 per cent Pb and 119.7 g/t Ag.

The Sturgeon Lake mine camp is located within the prolific Sturgeon Lake greenstone belt in the Wabigoon subprovince of Ontario's Superior province, approximately 270 kilometres northwest of Thunder Bay.

Qualified person

The technical information in this release has been reviewed and verified by Mr. Bell, PGeo, vice-president of exploration for the company, and the qualified person as defined by National Instrument 43-101.

About Nortec Minerals Corp.

Nortec is a mineral exploration company that holds 100-per-cent interests in two exploration-stage critical mineral (zinc) projects, namely the Mattagami River zinc and the Sturgeon Lake VMS properties, both located in Ontario, Canada. Additionally, the company holds a 16.4-per-cent interest in the Tammela gold and Tammela lithium projects in southwestern Finland.

We seek Safe Harbor.