NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

August 23, 2011 17:18 ET

NMC Resource Announces Very High Grade Assay Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 23, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC") is pleased to announce very high grade assay results from the drilling in the main zone between the 257 metre level (the second adit) and the 217 metre level (the third adit) (the "Main Zone Extension") at NMC Moland Mine in South Korea. For the Main Zone Extension, 36 drill holes, representing 2,516 metres have been completed since 2010 and additional holes are in progress to trace the down dip extensions of the main zone of molybdenum mineralization. The assay results from 10 holes, representing 745 metres, which results cover the western side of the deposit of the Main Zone Extension, show encouraging high grade over good widths.

The remaining assaying results from 26 holes, representing 1,771 metres are expected to be available for release in the coming three weeks. The Main Zone Extension also has some limited historical samples and drill data.

Project Link: http://www.nmcresource.com/s/Moland-Mine.asp

These assay results support the existence of the high grade molybdenum mineralization below 257 metre level. A technical report on NMC Moland Mine dated October 8, 2009 prepared by R.S. Middleton, P.Eng., in compliance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and filed on SEDAR on November 19, 2009, covers the deposit only above 257 metre level. NMC intends to update the resource estimate to include the downward extension of NMC Moland Mine.

NMC Moland Mine has been in commercial production since April 2010 and continues to provide NMC with a stable revenue stream. The crushing chamber at NMC Moland Mine is located underground, and 100% water is recycled. NMC Moland Mine does not have a tailings pond since all tailings are used as cement making material.

Pulps were shipped from NMC Moland Mine by secure courier to ALS Chemex in North Vancouver, BC, where a representative sample was digested by four acid solution and then analyzed using ICP analysis. Supervision of the assaying is being conducted by R. S. Middleton, P.Eng., who is acting as a "qualified person" as that term is defined in NI 43-101. R. S. Middleton has reviewed and approved the technical information set out in this news release.

The assay results are as follows (cut-off grade: 0.1% MoS2):

NMC SS10-7

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 0.0 – 13.0 13.0 8.4 0.34 0.20
Includes 6.0 – 13.0 7.0 4.5 0.56 0.34
Intersection 64.0 – 69.5 5.5 4.2 0.59 0.35

NMC SS10-8

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 0.0 – 9.5 9.5 * 0.31 0.19

NMC SS10-9

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 51.0 – 55.0 4.0 2.6 0.38 0.23
Intersection 62.7 – 65.0 2.3 1.5 0.94 0.56

NMC SS10-10

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 40.0 – 42.0 2.0 1.7 0.41 0.25
Intersection 65.0 – 67.0 2.0 1.9 0.89 0.53

NMC SS10-12

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 26.0 – 41.0 15.0 11.5 0.35 0.21
Includes 32.0 – 34.0 2.0 1.5 0.53 0.32
Includes 35.0 – 40.0 5.0 3.8 0.75 0.45

NMC SS10-13

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 31.0 – 36.0 5.0 4.5 0.32 0.19
Intersection 43.0 – 47.0 4.0 3.6 0.29 0.17
Intersection 78.5 – 79.5 1.0 0.9 1.21 0.73

NMC SS10-14

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 18.0 – 22.0 4.0 3.9 0.45 0.27
Includes 19.0 – 22.0 3.0 2.9 0.57 0.34
Intersection 27.0 – 49.0 22.0 19.7 0.27 0.16
Includes 27.0 – 28.8 1.8 1.6 0.40 0.24
Includes 37.0 – 49.0 12.0 10.7 0.34 0.20
Intersection 53.0 – 83.0 30.0 * 0.31 0.19
Includes 53.0 – 59.0 6.0 * 0.82 0.49

NMC SS10-15

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 21.0 – 50.0 29.0 * 0.46 0.28
Includes 27.0 – 50.0 23.0 * 0.55 0.33

NMC SS10-16

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 28.0 – 31.0 3.0 * 0.26 0.16
Intersection 63.0 – 65.0 2.0 * 0.32 0.19
Intersection 73.0 – 75.0 2.0 * 0.26 0.16

NMC SS10-17

Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 8.0 – 32.0 24.0 * 0.21 0.13
Includes 10.0 – 14.0 4.0 * 0.46 0.28
Includes 16.0 – 22.0 6.0 * 0.25 0.15
Includes 28.0 – 30.0 2.0 * 0.50 0.30
Intersection 41.0 – 56.5 15.5 14.6 0.19 0.11
Includes 55.0 – 56.5 1.5 1.4 0.62 0.37

Note: *Estimated true width is 60% of sample length. Other true widths are measured.

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

NMC Resource Corporation: NMC has two major molybdenum assets. One is NMC Moland Mine in South Korea, which is currently in production with a strong resource expansion potential. The other is Boss Mountain Moly Mine in British Columbia. NMC is planning an exploration program at Boss Mountain Moly Mine.

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 the assay results from 10 holes which show encouraging high grade over good widths at NMC Moland Mine, the remaining assaying results from 26 holes expected to be released in the coming three weeks, the current assay results supporting the existence of the high grade molybdenum mineralization below 257 metre level at NMC Moland Mine, NMC's plan to update the resource estimate to include the downward extension of NMC Moland Mine, a strong resource expansion potential at NMC Moland Mine and NMC's plan for an exploration program at Boss Mountain Moly Mine in British Columbia. 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)

    Ethos Consulting
    Toll Free: 1-888-818-1365
    www.nmcresource.com