NEW YORK Vulcan Minerals
Inc. has entered into an agreement with Nortec Minerals Corp.
to acquire Nortecs majority share in the Tasisuak Lake
nickel-copper mine in Canadas Labrador province.
The agreement will see St.
Johns, Newfoundland-based Vulcan take a 100-percent
interest in the property, having previously held a 49-percent
working interest to Nortecs 51-percent interest.
As part of the deal, Vancouver,
British Columbia-based Nortec will take 1 million common shares
of Vulcan while also retaining a 1-percent net smelter return
The agreement is subject to TSX Venture Exchange