VANCOUVER, Aug. 16 /CNW/ - Nortec Ventures Corp., ("Nortec" or the
"Company"), is pleased to announce the signing of Access Agreements for
diamond drilling, sampling and water usage for the period of one year with the
surface land owner of Chamana and Rio Minas target areas, Ganarin epithermal
gold-silver project, Southern Ecuador. Chamana and Rio Minas are the principal
targets with significant gold and silver values on surface. Details can be
referred to in the Company's press releases of 18th August 2006 and January
9th 2006. Discussions are continuing with Ecuadorian drilling companies for a
2000 metre drilling contract. Negotiations are underway for access agreements
with the land owner of Loma la Cruz, another target on the Ganarin Project.
In addition, Nortec announces that the Company has incorporated an
Ecuadorian subsidiary, MINERA NORTECECUADOR S.A. with its offices located in
Cuenca, Southern Ecuador. Cuenca is Ecuador's third largest city and is the
commercial centre for southern Ecuador. This has already facilitated and
simplified the process of negotiations with the land owners in the Company's
joint venture holdings. The Company holds an option to earn a 51% interest in
the Ganarin epithermal gold-silver project and 70% interest in the Condorcocha
Project, Southern Ecuador, from joint-venture partner Doubloon Exploration
Corp.
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.
Nortec is earning an undivided 70% interest in Kollismaa-Naranka
nickel-copper-PGE project, northern Finland and a 51% interest in TL nickel
property, Voisey's Bay area, northern Labrador.
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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.
