VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2010) -
NMC Resource Corporation (TSX VENTURE:NRC) (the "Company") is pleased to
announce that the Company has completed a production test at its recently
constructed molybdenum mill (the "Moland Mine") at the Company's Moland
molybdenum property (the "Property") in South Korea.
The production test was undertaken during the month of March
2010, during which time the Company milled an average of 800 tonnes per day
grading 0.30% MoS2. The production test was successful as mill recovery
averaged 88%, producing a marketable molybdenum concentrate.
The Company has commenced commercial production, and the
Company intends to focus on spot trades for the short term while it negotiates
an agreement with a suitable long-term buyer. The first 21,304 pounds of
molybdenum from the Moland Mine were sold recently.
The Company is a natural resource company engaged in the
business of exploration and development of high-grade molybdenum mineralization
located within the Jecheon-si administration district, approximately 170
kilometres southeast of Seoul, South Korea. The Property is comprised of three
claims, totaling 822 hectares in area. The Company holds a 100% interest in the
claims comprising the Property. The Property contains a molybdenum bearing skarn zone hosted
in Ordovician carbonate sediments. The skarn is over 800 metres long with
molybdenite occuring in fracture zones within the skarn and in disseminated
form.
A technical report on the Property dated October 8, 2009 (the
"Technical Report") prepared by R.S. Middleton, P. Eng. in compliance with
National Instrument 43-101 Standards of Disclosure for Mineral Projects
("NI 43-101") and filed on SEDAR on November 19, 2009, estimated an inferred
resource of 1,726,299 tonnes with an average grade of 0.366 % MoS2 at a 0.1%
MoS2 cutoff. This inferred resource only takes into account drilling and
channel sampling from 2008 and is limited only to elevations above the 257
metres Seotong Adit. The Company believes that potential exists to expand this
resource both under the current workings and in several new areas defined by
the aeromagnetic map obtained from Korea Institute of Geoscience and Mineral
Resources, KIGAM. The Company has commenced core drilling to define the down-dip
extensions of the mineralization which is partially funded by Korea Resources
Corporation, KORES. This drill program is being supervised by R. S. Middleton,
P. Eng.
Bruce Durham, P. Geo., a director of the Company, is a
'qualified person' as that term is defined in NI 43-101. Bruce Durham has
reviewed and approved the technical information set out in this news release.
On behalf of the board of NMC RESOURCE CORPORATION
Yoo Sup Han, Director and President
Forward-Looking Statements: This news release
includes certain forward-looking information and forward-looking statements
(collectively "Forward-Looking Statements") concerning the future
performance of the Company's business, operations and financial performance and
condition, as well as management's objectives, strategies, beliefs and
intentions. Specifically, this news release includes Forward-Looking Statements
regarding expected head grade and production volume at the Moland Mine,
expected spot trades and expected potential to expand the resource.
Forward-Looking Statements are frequently identified by such words as
"may", "will", "plan", "expect",
"anticipate", "estimate", "intend" and similar
words referring to future events and results. Forward-Looking Statements are
based on the current opinions and expectations of management. All
Forward-Looking Statements are inherently uncertain and subject to a variety of
risks and uncertainties, including the speculative nature of mineral
exploration and development generally and specifically in respect of the
interpretation of the geology, continuity, grade and size of mineral deposits,
unanticipated operational or technical difficulties, fluctuating commodity
prices, competitive risks and the availability of financing, changes in laws or
regulations, changes in the financial markets and changes in general economic
conditions, as described in more detail in our recent securities filings
available at www.sedar.com. Such Forward-Looking Statements are based on a
number of assumptions, including but not limited to the level and volatility of
the price of molybdenum, the availability of financing, the accuracy of reserve
and resource estimates and the assumptions on which those estimates are based
and the ability to achieve and maintain certain operational efficiencies.
Should one or more risks and uncertainties materialize or should any
assumptions prove incorrect, then actual events or results may differ
materially from those expressed or implied in the Forward Looking-Statements
and we caution against placing undue reliance thereon. We assume no obligation
to revise or update these Forward-Looking Statements, except as required by
applicable law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.