NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

December 01, 2011 08:30 ET

NMC Resource (TSX VENTURE:NRC) Deep Exploration Drilling Extends Molybdenite Mineralization Beyond Current Resource Area and Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2011) - NMC Resource Corporation (TSX VENTURE:NRC)

Editors Note: There is one image associated with this press release.

Highlights

  • NMK 11-8 drill hole intersects 0.26% MoS2 over 8 metres (true width) in "porphyry type" of ore
  • NMK 11-6 drill hole suggests the extension of molybdenite mineralization northward and downdip
  • Molybdenite mineralization continues to 193 metre below the 217 metre level (the third level, currently the lowest mine adit)

NMC Resource Corporation ("NMC Resource") is pleased to announce that eight deep exploration drill holes totalling 1,330 metres, which were conducted during the summer 2011, successfully traced molybdenite mineralization to depth below the 217 metre level (the third adit). The drill holes were designed to trace the down dip extensions of the molybdenite zones below the 257 metre level (the second adit) and the 217 metre level (the third adit). All level elevations referred to are metres above sea level. Locations of the eight drill holes are shown at http://www.nmcresource.com/i/pdf/NMK11_locations.pdf and 3D geologic model is illustrated below.

The molybdenite was intersected at the 24 metre level (0.20% MoS2; see NMK 11-8: 186.0 m - 196.0 m), which indicates that the molybdenite mineralization continues to 193 metre below the 217 metre level (the third adit). The molybdenite was also intersected in siliceous porphyry over mineable width (see NMK 11-8: 151.0 m - 167.0 m), which indicates the potential of being a wide and consistent grade of mineralization in "porphyry type" of ore. The occurrence of siliceous porphyry, which was found at NMK 10-6 drill hole (0.40% MoS2 over 20.1 metre true width; see news release dated July 28 2011), was confirmed by NMK 11-8 drill hole.

The assay result of NMK 11-6 hole suggests the extension of the molybdenite mineralization northward and downdip from the existing deposit. The assay results appear to be higher to the west side of the deposit than the east side. Further drilling is necessary to trace this higher grade trend. The assay results of the eight drill holes are summarized in tables below.

NMK 11-5 (Location: 397005 mN, 129945 mE, 219 m, Azimuth: 180°, Dip: -60°, Length: 60 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 7.6 - 12.0 4.4 3.1 1.30 0.78
Includes 9.0 - 10.0 1.0 0.7 2.01 1.21
Includes 11.0 - 12.0 1.0 0.7 2.26 1.36
Intersection 15.0 - 16.0 1.0 0.7 0.32 0.19
NMK 11-4 (Location: 396996 mN, 129948 mE, 219 m, Dip: -90°, Length: 110 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 4.0 - 8.0 4.0 2.0 0.94 0.57
Intersection 46.9 - 51.0 4.1 2.1 0.33 0.20
NMK 11-3 (Location: 397046 mN, 129990 mE, 219 m, Azimuth: 0°, Dip: -80°, Length: 250 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 2.0 - 10.0 8.0 4.0 0.41 0.24
Includes 2.0 - 4.0 2.0 1.0 0.83 0.50
Intersection 21.0 - 29.0 8.0 4.0 0.17 0.10
Includes 23.0 - 25.0 2.0 1.0 0.61 0.37
Intersection 37.0 - 43.0 6.0 3.0 0.22 0.13
Intersection 45.0 - 47.0 2.0 1.0 0.16 0.10
Intersection 53.0 - 61.0 8.0 4.0 0.13 0.08
Intersection 67.0 - 79.0 12.0 6.0 0.17 0.10
NMK 11-8 (Location: 397041 mN, 130095 mE, 220 m, Azimuth: 0°, Dip: -85°, Length: 200 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 10.0 - 12.0 2.0 1.0 0.34 0.20
Intersection 14.0 - 16.0 2.0 1.0 0.13 0.08
Intersection 26.0 - 28.0 2.0 1.0 0.13 0.08
Intersection 46.0 - 49.9 3.9 2.0 0.19 0.12
Intersection 58.0 - 80.0 22.0 11.0 0.30 0.18
Includes 74.0 - 76.0 2.0 1.0 0.61 0.36
Intersection 151.0 - 167.0 16.0 8.0 0.26 0.16
Includes 163.0 - 164.0 1.0 0.5 0.77 0.46
Intersection 186.0 - 196.0 10.0 5.0 0.20 0.12
NMK 11-6 (Location: 396976 mN, 130192 mE, 220 m, Azimuth: 0°, Dip: -40°, Length: 200 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 0.0 - 2.0 2.0 0.7 0.18 0.11
Intersection 6.0 - 9.3 3.3 1.1 0.31 0.19
Intersection 45.6 - 49.0 3.4 1.2 0.31 0.18
Intersection 51.0 - 53.0 2.0 0.7 0.16 0.10
Intersection 61.0 - 63.0 2.0 0.7 0.23 0.14
Intersection 69.0 - 70.9 1.9 0.6 0.23 0.14
Intersection 95.0 - 96.0 1.0 0.3 0.18 0.11
Intersection 126.0 - 128.0 2.0 0.7 0.19 0.11
Intersection 130.0 - 131.7 1.7 0.6 0.14 0.08
NMK 11-7 (Location: 397090 mN, 130043 mE, 220 m, Dip: -90°, Length: 270 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 45.7 - 47.0 1.3 1.0 0.23 0.14
Intersection 51.0 - 55.0 4.0 3.1 0.28 0.17
NMK 11-1 (Location: 396995 mN, 130219 mE, 261 m, Dip: -90°, Length: 110 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 3.0 - 4.0 1.0 0.3 0.21 0.13
Intersection 64.0 - 66.5 2.5 0.9 0.14 0.08
Intersection 70.0 - 74.1 4.1 1.4 0.14 0.08
NMK 11-2 (Location: 397013 mN, 130178 mE, 261 m, Azimuth: 180°, Dip: -75°, Length: 130 m)
Interval (m) Width (m) True width (m) MoS2 (%) Mo (%)
Intersection 20.4 - 23.0 2.6 1.7 0.17 0.10
Intersection 43.0 - 46.0 3.0 1.9 0.11 0.07
Intersection 54.8 - 55.8 1.0 0.6 0.17 0.10
Intersection 104.0 - 106.0 2.0 1.3 0.13 0.08
Intersection 123.0 - 124.3 1.3 0.8 0.13 0.08

To view the image associated with this press release, "NMC Moland Mine 3D Block Model," please visit the following link: http://www.marketwire.com/library/20111201-NRC0112figone.jpg.

NMC Moland Mine has been in commercial production since April 2010 and continues to provide NMC Resource 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 drilling and quality control of the sampling and assaying is being conducted by R.S. Middleton, P.Eng., a "qualified person" as that term is defined in National Instrument 43-101. R.S. Middleton has reviewed and approved the technical information set out in this news release.

Grant of Stock Options

NMC Resource is also pleased to announce that on November 29, 2011, it has granted a total of 1,420,000 incentive stock options (exercisable into 1,420,000 common shares in the capital of NMC Resource) to its directors, officers, employees and consultants under the Stock Option Plan. The incentive stock options granted are exercisable at $0.56 per common share for a term of 5 years. The said grant of incentive stock option is subject to TSX-V approval.

About NMC Resource Corporation

NMC Resource Corporation (TSX VENTURE:NRC) is a mining company with two molybdenum assets: NMC Moland Mine in South Korea (a producing Molybdenum mine with an increasing production profile and resource base) and Boss Mountain Mine in British Columbia, Canada. NMC Resource's assets are strategically located to supply the growing demand for Molybdenum from the Asian markets.

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. 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.

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