New Millennium Capital Corp.
TSX VENTURE : NML

New Millennium Capital Corp.

December 15, 2008 08:00 ET

New Millennium Capital Corp. Corporate Update

CALGARY, ALBERTA--(Marketwire - Dec. 15, 2008) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

New Millennium Capital Corp. ("NML" or "the Company") (TSX VENTURE:NML) announced today that subject to TSX Venture Exchange acceptance, the Company has retained Mr. Andreas Cukovic of Toronto, Ontario, to provide investor relations and communication services.

Mr. Curkovic is a full and comprehensive provider of investor relations services. He will assist NML in fostering productive continuing dialogues with analysts, brokers, investors and other investment professionals. Mr. Curkovic will receive a monthly retainer of Cdn$5,000. Mr. Curkovic has been offering investor relation services since 2004.

About New Millennium

New Millennium controls the emerging Millennium Iron Range, which holds the world's largest undeveloped iron ore deposits in the Province of Newfoundland and Labrador and in the Province of Quebec. In the same area, the Company is also advancing to near term production its DSO Project. Tata Steel, the world's sixth largest steel company, owns 19.9% of New Millennium and is the Company's largest shareholder and strategic partner. Tata has an exclusive option to fund the DSO Project and a commitment to take the resulting production and an exclusive right to negotiate and settle a proposed transaction in respect of the LabMag Project (see news release 08-17, October 1, 2008). The Millennium Iron Range currently hosts two advanced projects: LabMag contains 3.5 billion tonnes of reserves, 4.6 billion tonnes of Measured and Indicated resources and 1.1 billion tonnes of Inferred resources; KeMag contains 2.3 billion tonnes of Measured and Indicated resources and 1 billion tonnes of Inferred resources (see news releases 07-11, July 17, 2007 and 08-06, February 27, 2008).

The Company's DSO project contains, based on historical estimates that are not in compliance with NI 43-101, in excess of 100 million tonnes of direct shipping quality ore (see news release 08-05, February 5, 2008). The historical estimates contained in this news release of quantities of direct shipping quality ore are not in accordance with the mineral resources or mineral reserves classifications contained in the CIM Definition Standards on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101 ("NI 43-101"). Accordingly, NML is not treating these historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and such historical estimates should not be relied upon. A qualified person has not done sufficient work to date to classify the historical estimates as current mineral resources or mineral reserves, and is not to be misconstrued as representing current economic viability. The term "ore" in this release is being used in a descriptive sense for historical accuracy and is not to be misconstrued as representing current economic viability. A feasibility study has not been completed in respect of the DSO properties and there is no certainty the proposed operations will be economically viable.

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 www.nmlresources.com, www.tatasteel.com and www.corusgroup.com.

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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