New Millennium Capital Corp.

New Millennium Capital Corp.

November 13, 2007 08:30 ET

New Millennium Capital Corp. Appoints New Director

CALGARY, ALBERTA--(Marketwire - Nov. 13, 2007) -


New Millennium Capital Corp. ("NML" or "the Company") (TSX VENTURE:NML) announced today that Mr. Pierre Seccareccia of Montreal, Quebec, has been appointed a director of NML.

Mr. Seccareccia, Fellow of the Ordre des comptables agrees du Quebec has over 35 years' experience in various areas of financial consulting and management. Until 2002, he was the Managing partner of the Montreal office of PricewaterhouseCoopers. He is a director of numerous companies, including GLV Inc., Boralex Inc., Genivar Income Fund, MedicaGo Inc., Fondation de la Famille Lemaire, ARX Capital Inc., Langevin & Forest Inc., and Robichaud Conseil Inc.

In addition, Mr. Seccareccia is Chairman of the Board of les Oeuvres de la Maison du Pere, Chairman of the Board of la Fondation Pere Eusebe-Menard, Member of the Board, Chairman of the audit committee and member of the research committee of UHC Sainte-Justine.

Robert Martin, NML CEO and President, said "We are pleased to welcome Pierre to the New Millennium Board. Pierre's deep experience and eminent standing in the Canadian corporate world will be especially valuable as New Millennium enters a period of increasing activity that will demand additional expertise in corporate governance and financial management."

In connection with his appointment, Mr. Seccareccia has been granted stock options to purchase 250,000 common shares at a price of $0.65 per share for a period of five years, such options vesting over a two year period. 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. Seccareccia. 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 195 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 tons of direct shipping quality ore.

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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