NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

August 04, 2011 09:00 ET

NMC Reports Substantial Production Increase at NMC Moland Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC") is pleased to announce a substantial production increase at NMC Moland Mine from July 2011. In July, NMC produced over 67 tonnes of molybdenum concentrates (MoS2), while on average 61.5 tonnes of MoS2 per month were produced during the first half of 2011 (January through June). Starting with the third quarter in 2011, NMC expects to produce over 200 tonnes of MoS2 on a quarterly basis. This year, NMC produced 183.7 tonnes during the first quarter and 185.1 tonnes during the second quarter. NMC is also aggressively advancing its exploration activities to further increase mineral resource.

Along with the production increase, NMC Moland has been investing in a new ventilation shaft and processing facilities. This capital expenditure has been largely sponsored by Korean government institutions including Korea Resources Corporation (KORES).

"NMC management is focused on maximising shareholder value by strategically leveraging the resources available to the Company," said DH Kim, Executive Vice President of NMC.

NMC is listed on the TSX-Venture Exchange under the symbol (NRC).

About NMC Resource Corporation:

NMC has been producing molybdenum from its NMC Moland Mine located in South Korea since April 2010. NMC is emerging as a successful molybdenum producer in South Korea with the potential for resource expansion at NMC Moland Mine. On March 11, 2011, NMC entered into a non-binding letter of intent with Xstrata Copper Canada with respect to the Boss Mountain molybdenum property located in British Columbia, indicating NMC's intention to strategically grow its mining assets globally as NMC fast-tracked its development of NMC Moland Mine from 2008.

On behalf of the board of NMC RESOURCE CORPORATION

Yoo Sup Han, President and Director

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 NMC's expected production level of over 200 tonnes of MoS2 on a quarterly basis beginning with the third quarter in 2011, NMC's aggressive advancement of its exploration activities to further increase mineral resource, NMC as a successful emerging molybdenum producer in South Korea with the potential for resource expansion at NMC Moland Mine and NMC's intention to strategically grow its mining assets globally starting with the acquisition of the Boss Mountain molybdenum property located in BC. 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.

Contact Information

  • NMC Resource Corporation
    DH (Do Hyung) Kim
    (604) 643-1730
    (604) 642-6192 (FAX)
    www.nmcresource.com

    Ethos Consulting
    Toll Free: 1-888-818-1365