NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

October 04, 2011 08:39 ET

NMC Resource (TSX VENTURE:NRC) Intersects High-Grade Molybdenum and Extends Deposit 40 Metres West

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) -

HIGHLIGHTS

  • MORE HIGH-GRADE MOLYBDENUM DISCOVERED EXTENDING DEPOSIT
  • DRILLING IN PROGRESS TO TRACE WEST AND SOUTHWEST EXTENSIONS

NMC Resource Corporation ("NMC Resource") is pleased to announce that two exploration holes at the producing NMC Moland Mine in South Korea, intersected high-grade molybdenum over mineable widths and extended the deposit 40 meters west. The two drill holes representing 181 metres intersected this new "Main Zone Extension" between the 257-meter level (the second adit) and the 217-meter level (the third adit) (the link for the area is available at http://www.nmcresource.com/i/pdf/Mining_Area_Delineation.pdf).

Additional holes are currently in progress to trace west and southwest extensions of molybdenum mineralization. The assay results from the 2 holes show encouraging high-grade over good widths.

The assay results support the existence of the high-grade molybdenum mineralization towards west from the existing deposit. NMC Resource intends to update the resource estimate to include the west extension of NMC Moland Mine and the recently announced high-grade discoveries at depth (see news release dated September 27, 2011).

The assay results for NMC 11-SSA 17 and NMC 11-SSA18 are as follows (cut-off grade: 0.1% MoS2):

Γûá NMC 11-SSA17 (Location: 397004 mN, 129902 mE, Azimuth: 240°, Dip: 0°, Length: 79 m)

True
Interval Width width
(m) (m) (m) MoS2 (%) Mo (%)
Intersection 6.0 – 9.0 3.0 1.4 0.22 0.13
Intersection 24.0 – 30.0 6.0 2.7 0.16 0.10
Intersection 33.0 – 42.0 9.0 4.1 0.50 0.30
Includes 35.0 – 36.0 1.0 0.5 0.98 0.59
Includes 37.0 – 39.0 2.0 0.9 0.88 0.53
Intersection 48.0 – 65.0 17.0 7.7 0.40 0.24
Includes 49.0 – 50.0 1.0 0.5 0.80 0.48
Includes 51.0 – 52.0 1.0 0.5 0.84 0.50

Γûá NMC 11-SSA18 (Location: 397002 mN, 129903 mE, Azimuth: 210°, Dip: 0°, Length: 102 m)

True
Interval Width width
(m) (m) (m) MoS2 (%) Mo (%)
Intersection 8.0 – 15.4 7.4 5.5 0.28 0.17
Intersection 17.8 – 28.0 10.2 7.6 0.27 0.16
Includes 22.0 – 24.0 2.0 1.5 0.55 0.33
Intersection 29.0 – 30.3 1.3 1.0 0.37 0.22
Intersection 38.3 – 40.3 2.0 1.5 0.52 0.31

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. In addition to funding deep exploration drill holes, KORES (Korea Resources Corporation) contributes good portion of sustaining capital required for NMC Moland Mine.

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.

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

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 that additional holes are currently in progress to trace west and southwest extensions of molybdenum mineralization, the assay results from the 2 holes show encouraging high-grade over good widths, NMC Resource intends to update the resource estimate to include the west extension of NMC Moland Mine and the recently announced high-grade discoveries at depth and that NMC Moland Mine in South Korea is a producing Molybdenum mine with an increasing production profile and resource base. 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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