New Millennium Capital Corp.

New Millennium Capital Corp.

April 30, 2008 19:45 ET

New Millennium Capital Corp. Announces the Appointment of Jean-Charles Bourassa as Vice President, Mining and Other Management Changes

CALGARY, ALBERTA--(Marketwire - April 30, 2008) -


New Millennium Capital Corp. ("NML" or "the Corporation") (TSX VENTURE:NML) announced today that it has appointed Jean-Charles Bourassa as Vice-President, Mining with special responsibility to lead the team that has been assembled for the development of it's Direct Shipping Iron Ore Project ("DSO Project"). In addition, NML announced three other promotions: Dean Journeaux to Chief Operating Officer; Bish Chanda to Vice President, Marketing and Moulaye Melainine to Vice President, Development.

Robert Martin, NML's President and CEO, commented:

"As our projects advance to execution, our need to increase management resources that are commensurate with our requirements becomes of paramount importance. We are therefore fortunate to be able to add Charles Bourassa to our team. He will provide NML with the leadership needed to quickly advance the DSO Project. I am also pleased to announce the important promotions of Messrs. Journeaux, Chanda and Melainine in the buildup of our management team as the Corporation accelerates the development of its projects."

Mr. Bourassa has 35 years of mining experience in all phases: project evaluation, feasibility studies, design, construction and operations. A large part of his career has been in the development and operation of iron ore mines, especially in Canada and India. In Liberia, he was the Assistant Project Manager for the National Iron Ore Company, a producer of washed natural ores similar to those of the DSO Project. He has experience in various social and climatic environments from cold weather northern regions to tropical countries.

Charles began his career at Quebec Cartier Mining Company's new Mount Wright Iron Ore Project. He was transferred to Met-Chem Canada Inc. to be part of it's mine development team for the Kudremukh Iron Ore Company's Iron Ore Project in India which included mining, concentration, slurry pipeline and port facilities.

He is a 1972 graduate of Ecole Polytechnique, Montreal, Quebec with a B.Sc. Mining Engineering (Honours); a member of the Order of Engineers of Quebec and a CIM fellow. He speaks French and English and has a working knowledge of Spanish.

These appointments will further strengthen the NML management team and permit the separate, but concurrent development, of the DSO Project and the magnetic taconite projects.

In connection with his appointment, Mr. Bourassa has been granted stock options to purchase 100,000 common shares at a price of $1.65 per share for a period of five years. The stock option grant is subject to regulatory approval. NML has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the grant of stock options to Mr. Bourassa. The Corporation has further determined that an exemption from the various requirements of Ontario Securities Commission Rule 61-501 is available as the fair market value of the grant of options is less than 25% of the market capitalization of the Corporation.

About New Millennium

New Millennium holds a 100% interest in the KeMag Property (Quebec) and an 80% interest in the LabMag Property (Newfoundland and Labrador). Both properties are located within the Millennium Iron Range, the centre of which is located approximately 230 km north of Labrador City, NL and 40 km northwest of Schefferville, QC. The Company also has a 100% interest in 306 DSO claims in Quebec and Labrador that contain, based on historical estimates that are not in compliance with NI 43-101, in excess of 100 million tonnes of direct shipping quality ore. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources. The Company is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.

Subject to the completion of positive feasibility studies, project financing and project construction, the concentrate from the KeMag Project would be pumped from the property through a slurry pipeline, about 750 kilometres, to Pointe-Noire, near the Port of Sept-Iles, QC, where it would be both pelletized and sold as concentrate. The concentrate from the LabMag Project would be pumped from the property through a slurry pipeline, about 230 kilometres, to Emeril, NL where it would be pelletized prior to rail transportation via an existing railroad about 390 km to Pointe-Noire, near the Port of Sept-Iles. DSO products are envisioned to be transported by rail to a Port at Pointe-Noire.

These projects envision the construction and operation of ship loading facilities and related infrastructure at the Pointe-Noire terminus from where the various iron ore products would be shipped by ocean vessels to markets in Canada, the United States, Western Europe, North Africa, the Middle East and Asia.

The Corporation's mission is to add shareholder value through the responsible and expeditious development of the Millennium Iron Range and other mineral projects to create a new large source of raw materials for the world's iron and steel industries. For further information, please visit

This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. New Millennium does not assume any obligation to update any forward looking information contained in this news release.

No regulatory authority has approved or disapproved the content of this release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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