New Millennium Capital Corp.

New Millennium Capital Corp.

March 30, 2007 16:54 ET

New Millennium Files NI 43-101 Technical Report on SEDAR for Its KeMag Iron Ore Property

CALGARY, ALBERTA--(CCNMatthews - March 30, 2007) -


New Millennium Capital Corp. (TSX VENTURE:NML) ("NML" or "the Company") announced today that the technical report, completed by Geostat Systems International Inc. in compliance with NI 43-101, was filed on SEDAR on March 23, 2007.

As earlier reported, these results outline 1.349 billion tonnes of Indicated Mineral resources and an additional 992 million tonnes of Inferred Mineral Resources based a cut-off grade using a Davis Tube Weight Recovery ("DTWR") of 18%.

This discovery, in addition to its LabMag Iron Ore Property, now increases NML's total iron ore resource in the area to 5.014 billion tonnes (of which 3.545 billion tonnes are Proven and Probable Mineral Reserves) plus an additional 2.467 billion tonnes of Inferred Mineral Resources. These mineral formations stretch over a strike length of 37 kilometers in what has been named the Millennium Iron Range.

Robert Martin, President and CEO of New Millennium, said, "NML is on track to produce a Pre-Feasibility Report on the KeMag Iron Ore Property by the end of June 2007 when a decision will be made to advance one of these World Class projects to the feasibility stage. Planning for a summer 2007 drilling program on the KeMag Property is well underway"

About New Millennium

New Millennium holds a 100% interest in the KeMag Project (Quebec) and an 80% interest in the LabMag Project (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, NF and 40 km northwest of Schefferville, QC.

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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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