NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

April 26, 2012 08:30 ET

NMC Resource (TSX VENTURE:NRC) Announces Financial Results for the Year Ended December 31, 2011

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 26, 2012) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") released its audited consolidated financial statements for the year ended December 31, 2011.

Highlights for the year ended December 31, 2011 are as follows:

  • Sold 833,643 pounds of molybdenum

  • Recorded $11.9 million in sales revenue

  • Earned $0.04 per share* and recorded $0.14 per share in operating cash flow

  • Recorded $4 million in EBITDA at NMC Moland Mine ("Moland Mine")

NMC Resource recorded $11.9 million in sales revenue and $1,029,371 as net income for the year ended December 31, 2011. During the same period, NMC Resource earned $0.04 per share and recorded $0.14 per share in operating cash flow. The adjusted EBITDA** of NMC Resource was $3.4 million and the EBITDA of Moland Mine reached $4 million. Earnings from mine operations was recorded at $751,423.

From April 1st 2012, NMC Resource has increased its daily throughput by 20% compared to 2011 levels and plans to implement a further 15% increase by the end of this year. A 3,000-metre diamond drilling program is planned for infill drilling and testing westward, northward and downward extension of the deposit. Moland Mine is an environmentally friendly mine with an underground crushing chamber, 100% water recycling, and tailings elimination. It is located only 32km away from PyeongChang where the 2018 Winter Olympics will be held.

NMC Resource also has plans for a drilling program at Boss Mountain Mine to confirm its historical resource and then to complete additional drilling to expand the resource with a view to developing it into an open pit mine.

Please visit http://www.nmcresource.com for more information.

Currencies are expressed in Canadian dollars.

* Weighted average number of common shares outstanding: 26,555,640 shares

** Adjusted EBITDA: Net earnings before interest, taxes, amortization and share-based payment

About NMC Resource Corporation

NMC Resource Corporation (TSX VENTURE:NRC) is a mining company with two molybdenum assets: NMC Moland Mine ("Moland") in South Korea and Boss Mountain Mine ("Boss Mountain") in British Columbia, Canada. Moland started commercial production in April 2010 and a new technical report was filed in December 2011 with an updated resource. An active resource expansion drill program continues at Moland. Resource expansion drilling program requiring deep drill holes has been sponsored by KORES (Korea Resources Corporation, a state-owned mining company). As a sole producer of high grade molybdenum in South Korea, NMC Resource is also examining a number of marketing and production strategies to further enhance the mine's economics. Boss Mountain is a past molybdenum producer. NMC Resource is currently assessing historic resource data from 247 drill holes completed by the last mine operator Noranda Mines Ltd.

On behalf of the board of NMC RESOURCE CORPORATION

Do Hyung Kim; President, Chief Executive Officer 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 that NMC Resource plans to implement further 15% increase in daily throughput by the end of this year, that a 3,000-metre diamond drilling program is planned at Moland Mine for infill drilling and testing westward, northward and downward extension of the deposit, that NMC Resource plans for a drilling program at Boss Mountain Mine to confirm its historical resource and then to complete additional drilling to expand the resource with a view to developing it into an open pit mine. 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.

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