Toronto, Ontario--(Newsfile Corp. - May 20, 2026) - NORTEC MINERALS CORP. (TSXV: NVT) ("Nortec" or the "Company") is pleased to announce that it has completed the previously announced transaction to acquire a 100% interest in the Barker Bay Gold Project, located in the Kenora Mining District of northwestern Ontario.

Additionally, Nortec has staked ~2670ha of additional mineral claims adjacent to Barker Bay Gold Project, thereby expanding the project to approximately 4,670 hectares. Nortec has now secured a broad structural and geological corridor within the Eagle-Wabigoon-Manitou greenstone belt, a prolific Archean gold district in northwestern Ontario.

The Eagle-Wabigoon-Manitou greenstone belt is host to several significant gold deposits, including the +1,000,000 oz Cameron Lake deposit (Seva Mining), Dryden Gold Corp.'s Gold Rock project, noted for its exceptional 53,700 g/t Au over 0.55 meters (Drill Hole TN-11-049) drill intercept. (Figure 1)

"The Barker Bay Projects hosts known mineralization, several historical mine workings and multiple untested gold-bearing shear zones extending over a strike length of more than 10 kilometres. The property is a surprising anomaly in that despite high-grade historical sampling and past development, it has seen minuscule exploration and never been drill tested." Stated Ryan Hrkac, CEO

Figure 1 - Barker Bay gold project, regional location map and surrounding notable gold deposit, references for quotes resources are tabulated and the end of the release.

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Figure 2 - Magnetic Anomalies, location of historic surface workings and Gold-in-Soil Values

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Q1 2026 Ground Magnetic Survey Results

During Q1 2026, a ground-based magnetic ("Mag") survey was conducted over a 500m strike length where significant gold in soil anomalies were discovered along the Barker Bros. Mine trend. The survey identified several discrete magnetic anomalies, including multiple targets closely aligned with mapped shear structures and felsic-mafic contacts. These juxtaposed magnetic highs and lows may be indicative of hydrothermal alteration (mag low) and sulfide mineralization (mag high) which supports the presence of an orogenic gold mineralizing system.

Importantly, several of the strongest magnetic anomalies coincide with elevated gold-in-soil values identified during a 2021 soil survey, therefore reinforcing the presence of a continuous, structurally controlled gold system. These overlapping datasets provide high-confidence targets for trenching, channel sampling, and subsequent drilling.

Q2 2026: Airborne Geophysics and Surface Testing to Commence

In May subject to the spring thaw, Nortec plans to initiate a drone-based high-resolution magnetic ("Mag") and LIDAR survey on those initial structural corridors previously identified by gold-in-soil anomalies and the Q1 2026 ground-based Mag survey. These surveys will refine our structural understanding, refine drill targets and expand target coverage beyond the Barker Bros. Mine trend.

Following completion of the Mag/LIDAR survey, the Company will proceed directly to bedrock trenching and channel sampling, with initial efforts focused on high-priority targets identified along the Barker Bros. Mine trend. These programs will guide the design of Nortec's planned maiden drill campaign at Barker Bay.

"In 2026, having completed the 100% purchase of Barker Bay, expanded the land position to 4,700 hectares and generated new geophysical data that provides compelling targets, Nortec is entering an important growth phase at Barker Bay. The alignment of magnetic anomalies with strong gold-in-soil results along a historical high-grade trend is exactly the kind of targeting confidence we look for heading into trenching and drilling. We are excited to advance this newly consolidated project with the first modern exploration ever carried out on the property." commented Ryan Hrkac, CEO

References

Straw Lake Mine https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52F03NW00004
Big Master Mine https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52F07NE00002
Laurentian Mine https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52F07NE00006
Pelham Zone(ThundercloudProject)https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52F07NE00013
Cameron Lake Deposit https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52F05SE00008
Rainy River Mine https://www.geologyontario.mines.gov.on.ca/mineral-inventory/MDI52D16SE00004

QUALIFIED PERSON

The scientific and technical information in this news release has been reviewed, verified and approved by Neil Pettigrew, M.Sc., P.Geo., a Qualified Person under National Instrument 43-101, and a consultant to Nortec.

About Nortec Minerals Corp.

Nortec is a mineral exploration company focused on identifying gold and copper properties with high discovery potential and advancing those projects to create outsized shareholder value. Property holdings comprise:

• Pearl Gold Project, located in Nevada, U.S.A., a past producing high-grade gold mine, under option.
  • Drilling at the Columbia Zone has intersected mineralization, including 2.27 g/t gold over 38.1 m (Hole YU21-02) and 11.96 g/t gold over 3.05 m (Hole YU22-11).
• Barker Bay Gold Project, located in northwestern Ontario, Canada, having historical (turn-of-the-century) mine workings and no exploration/drilling.
  • High confidence gold in soil anomaly along 700 m+ of the Barker Bros. Mine trend.
  • Several gold-in-soil values above 0.2g/t
• 100% interests in two exploration stage critical mineral (zinc) projects, namely the Sturgeon Lake VMS and the Mattagami River Zinc properties, both located in Ontario, Canada. Additionally, the Company holds a 16.4% interest in the Tammela Gold in Southwest Finland.
• Additional information can be found on the Company's SEDAR profile at www.sedarplus.ca and its website at www.nortecminerals.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

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