Mr. Derrick Weyrauch reports

NORTEC TO ACQUIRE THE BARKER BAY GOLD PROPERTY AND APPOINTS MR. RYAN HRKAC, P. GEO TO THE POSITION OF CHIEF EXECUTIVE OFFICER

Nortec Minerals Corp. has entered an asset purchase agreement with Ryan Hrkac, PGeo, to acquire the Barker Bay gold property (as described below), located in Ontario, Canada.

Additionally, effective immediately, the company has appointed Mr. Hrkac to the position of chief executive officer of the company, replacing Derrick Weyrauch (formerly interim CEO), who continues in his role as chairman of the board of directors. Sara Hills and P. Mark Smith have resigned from the company as chief financial officer and director, respectively. Michael Malana has been appointed interim CFO to succeed Ms. Hills. The company thanks Ms. Hills and Mr. Smith for their contributions to the company.

About the Barker Bay gold property

The Barker Bay gold property is located in the Kenora mining division, Northwestern Ontario, Canada (south of Dryden).

Recent prospecting and historical exploration identified at least three gold-bearing subparallel structures on the 2,000-hectare property. Two historical small-scale mining operations are located on the property, namely the Barker Bros. mine and the Petrie mine. Additionally, a third shaft was identified during geologic mapping in the 1980s located on a parallel structure east of the Petrie mine. Historical records indicated the Barker Bros. mine returned 23.6 ounces (oz) in the first eight tons of ore milled, an average grade of 101.1 grams per tonne (g/t) gold (Au) (see Ontario Mineral Deposit Index MDI52F06SE00002), while production records for the Petrie mine (see Ontario Mineral Deposit Index MDI52F06SE00003) and the undocumented shaft are unavailable.

Historical prospecting has returned grab samples ranging from 1.4 to 24.5 g/t Au at the Barker Bros. mine ((see Ontario assessment report 52F06NE0003) and 3.3 to 11.3 g/t Au at the Petrie mine mineral deposit inventory MDI52F06SE00003)).

Gold is hosted in quartz veins and in wall rock of shear zones, which are up to 10 metres wide. Feldspar porphyry intrusives have also been identified in close proximity to the historical gold mines and may be an integral part of the mineralizing system. A gold-in-soil anomaly was outlined during a 2022 field program, which extends more than 700 metres along strike of the Barker Bros. mine. This anomaly closely follows the historical trenching and projected extent of the structure hosting gold mineralization (see Ontario assessment record 20000021209).

The geologic similarities to the Kenwest deposit (25 kilometres to the east) operated by Dryden Gold Corp., where gold of 3,497 g/t over 8.5 metres, including 53,700 g/t gold over 0.55 metre, was intercepted in hole KW-11-26, underscore the potential for ultrahigh-grade gold mineralization (see Ontario Mineral Deposit Inventory MDI52F07NE00002).

Chief executive officer

Effective immediately, Mr. Hrkac has been appointed to the position of CEO of the company. He is the founder of Shear Gold Exploration Corp., a private prospect generator and geological consultancy, specializing in gold exploration across the Precambrian shield of Ontario. A lifelong resident of Thunder Bay, Ont., Mr. Hrkac graduated from Lakehead University in 2016 with an bachelor of science in geology (honours) and is a registered professional geologist (PGeo) in Ontario.

"Following successfully optioning multiple early-stage exploration project to listed issuers, including Dryden Gold Corp.'s (TSX-V: DRY) Sherridon expansion and Kenorland Minerals Ltd. (TSX-V: KDL) Stormy property, Ryan has established a reputation for technical expertise, curating exploration properties of merit and a hands-on approach to exploration, all coupled with a deep understanding of the challenges and opportunities within the mineral exploration industry.

"We are very pleased to welcome Ryan, his enthusiasm and desire to advance Nortec via a disciplined scientific approach to exploration," stated Mr. Weyrauch.

Transaction details

The asset

The purchase agreement was entered into on Nov. 4, 2025, between Mr. Hrkac, who holds a 100-per-cent interest in the property, and Nortec, pursuant to which Nortec will purchase from the seller a 100-per-cent interest in and to the mineral claims comprising the property, in consideration for the issuance or payment by Nortec to the seller: (a) an aggregate of 1.25 million common shares in the authorized share structure of Nortec, which common shares are to be issued four months and one day following the date of closing of the transaction; (b) $5,300 in cash, to be paid after the closing date upon Nortec having completed one or more non-flow-through equity financings to raise minimum net proceeds of $500,000; and (c) a 2-per-cent net smelter return royalty on mineral production from the Barker Bay property. Nortec shall have the right to purchase 50 per cent of the NSR royalty in consideration of the sum of $1-million and Nortec shall have the right of first refusal to purchase the NSR royalty from the seller.

Closing

The closing of the acquisition of the asset purchase agreement is subject to a number of conditions, including, but not limited to, Nortec having completed an equity financing to raise a minimum of $175,000, of which a minimum of $75,000 shall not have been raised on a flow-through basis, and the receipt of approval from the TSX Venture Exchange to the transaction.

Qualified person

The scientific and technical information in this news release has been reviewed, verified and approved by Neil Pettigrew, MSc, PGeo, a qualified person under National Instrument 43-101 and a consultant to Nortec.

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 Sturgeon Lake VMS (volcanogenic massive sulphide) and the Mattagami River zinc properties, both located in Ontario, Canada. Additionally, the company holds a 16.4-per-cent interest in the Tammela gold property in southwestern Finland. Additional information can be found on the company's SEDAR+ profile and the company's website.

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