VANCOUVER, Aug. 18 /CNW/ - Further to the press release dated August 16,
2006, Nortec Ventures Corp., ("Nortec" or the "Company"), is pleased to
announce the signing of a contract for 2000 metres of HQ core diamond drilling
on the Ganarin epithermal gold-silver joint venture project, Southern Ecuador.
Minera Nortec Ecuador SA, the Company's Ecuadorian subsidiary, signed the
contract with "Minera Micubesa Cia. Ltda", an Ecuadorian drilling company with
operations in Peru and Ecuador.
Drilling will initially concentrate on the Chamana and Rio Minas targets
where significant gold and silver values on surface were obtained in trench
chip and channel sampling. Details can be referred to in the Company's press
releases of 18th August 2006 and January 9th 2006. The Longyear 38 drill is
being mobilized and the drilling is expected to commence in early September
2006.
The Company holds an option to earn a 51% interest in the Ganarin
epithermal gold-silver project and a 70% interest in the Condorcocha Project,
Southern Ecuador, from joint-venture partner Doubloon Exploration Corp. The
Ganarin property is situated in the prolific Ganarin Mineral Belt. Iamgold
Corporation's Quimsacocha gold deposit occurs in the same belt approximately
30 kilometres northeast of the Ganarin Property. Indicated resources within a
one-kilometre long defined area of the Quimsacocha deposit are estimated to
contain 2.8 million ounces of gold and 18.2 million ounces of silver.
Mohan R. Vulimiri, M.Sc. P.Geo., President and Director of Nortec, is the
person responsible for initiating and guiding the work programs on the
Property. Brian T. Malahoff, P.Geo, is the person responsible for the on-site
management of the exploration programs on the Property. Mr. Vulimiri and Mr.
Malahoff are qualified persons in accordance with National Instrument 43-101
guidelines.
For further details and locations of the various zones on the Ganarin
Property and information on Nortec Ventures Corp., please visit the Company's
website at http://www.nortecventures.com. Nortec is a mineral exploration and
development company based in Vancouver, British Columbia and its shares trade
on the TSX Venture Exchange under the symbol NVT.
Nortec is also active in Finland earning a 70% interest in
Kollismaa-Naranka nickel-copper-PGE project and in northern Labrador earning a
51% interest in TL nickel property, Voisey's Bay area.
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On behalf of the Board of Directors,
Nortec Ventures Corp.
"Mohan R. Vulimiri"
Mohan R. Vulimiri, President & CEO
>>
The statements made in this News Release may contain certain
forward-looking statements. Actual events or results may differ from the
Company's expectations. Certain risk factors may also affect the actual
results achieved by the Company. The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this release
