NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

February 23, 2012 08:30 ET

NMC Resource (TSX VENTURE:NRC) Continues to Improve Its Molybdenum Production Profile

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 23, 2012) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") is pleased to announce production and sales results from its NMC Moland Mine ("Moland") for the year ended December 31, 2011, along with 2012 guidance for production.

2011 Production and Sales Highlights:

  • Produced 690 tonnes of molybdenum disulfides (MoS2)
  • Processed 265,543 tonnes of ore
  • Recorded 876 tonnes average daily throughput, up from 826 tonnes in 2010
  • Produced MoS2 at average grade of 88%, up from 86% in 2010
  • Recorded 89% average recovery, up from 88% in 2010
  • Sold 833,643 pounds of molybdenum, up from 389,125 pounds in 2010
  • Recorded sales revenue US$11,947,349

NMC Resource plans to produce 800 tonnes of MoS2 in 2012. During the second half of 2012, NMC Resource intends to invest about $500,000 in crushing facilities at Moland to increase processing throughput by 15-20%. 100% of this investment will be sponsored by a South Korean government agency.

In 2011, NMC Resource successfully expanded the resource for Moland.* Further exploration work program will be continued for infill drilling and for testing westward, northward and downward extension of the deposit. 3,000-metre diamond drilling program is planned for this year at Moland.

* Technical Report and Resource Estimate Link (Filed in December 2011):

http://www.nmcresource.com/i/pdf/Moland%20Mine%20Technical%20Report%20(NI43-101)%20-%20Dec.%202011.pdf

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 has been operating with a positive operating cash flow since. A new technical report was filed in December 2011 with an updated resource, and 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 produce 800 tonnes of MoS2 in 2012, that during the second half of 2012, NMC Resource intends to invest about $500,000 in crushing facilities at Moland to increase processing throughput by 15-20%, that 100% of this investment will be sponsored by a South Korean government agency, that further exploration work program will be continued for infill drilling and for testing westward, northward and downward extension of the deposit and that 3,000-metre diamond drilling program is planned for this year at Moland. 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