NMC Resource Corporation
TSX VENTURE : NRC

NMC Resource Corporation

November 17, 2011 08:30 ET

NMC Resource (TSX VENTURE:NRC) Surface Sampling Discovers Wide Spread Molybdenite Mineralization at Boss Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2011) - NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") is pleased to announce highly encouraging molybdenum assay results and the wide spread molybdenite mineralization from rock outcrops at Boss Mountain mine site ("Boss Mountain") in British Columbia, Canada. NMC Resource visited Boss Mountain with the purpose of determining the background extent of the mineralization in the country rocks around and beyond the areas that were mined by Noranda until 1983. Sampling of rocks at and around three open pit walls revealed a wide range of assays shown in the table below.

Rocks where molybdenite was difficult to see with the naked eye gave encouraging assays for molybdenum (see samples BM-6 and BM-19). Three samples of tailings were also checked for molybdenite content and were found to be low and within acceptable values, which means the recovery of molybdenite at Boss Mountain was done with high recovery using basic floatation methods.

NMC Resource intends to have an extensive drill program at Boss Mountain to verify 247 historical surface drill data and to further explore the vertical and horizontal extent of mineralization at Boss Mountain with a view to developing it to an open pit mine. Currently, NMC Resource is building a geological model for an efficient drill program based on the historical drill data.

Do Hyung Kim, Executive VP and Director of NMC Resource states, "We would like to thank Canim Lake Band council members for helping our preliminary work at Boss Mountain to be efficient and successful. Boss Mountain has large potential to host a high grade open-pittable ore body, with excellent infrastructure and access to power being approximately 8 kilometres away."

Assays for grab samples from rock outcrops are as follows:

Outcrops where molybdenite is visible
Sample ID Easting (mE) Northing (mN) Mo (%) MoS2 (%)
BM-3-2 644029 5773764 13.60 22.68
BM-4 644033 5773754 0.128 0.213
BM-10-2 643321 5773411 2.220 3.702
BM-16 643010 5773773 0.654 1.091
Outcrops where molybdenite is not visible
Sample ID Easting (mE) Northing (mN) Mo (%) MoS2 (%)
BM-2-2 644029 5773764 0.001 0.001
BM-6 644068 5773662 0.069 0.116
BM-9 643326 5773439 0.015 0.025
BM-12 643313 5773410 0.008 0.013
BM-19 643240 5773760 0.040 0.067

Rock outcrop samples were shipped by secure courier to ALS Chemex in North Vancouver, BC, where the samples were pulverized to less than 75 μm and a representative sample was digested by four acid solution and then analyzed using ICP analysis. Supervision of the 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.

Geology of Boss Mountain Mine

The molybdenum deposit occurs near the eastern margin of the Early Jurassic Takomkane batholiths, which intrudes Upper Triassic Nicola Group volcanic rocks on the south and west, and is in fault contact with Lower Jurassic volcanic and sedimentary rocks to the east and north. The Takomkane batholith is composed of a syenodiorite phase, a granodiorite phase and a porphyritic biotite granodiorite phase. Intruding the batholith about 450 metres northeast of the deposit is the Cretaceous Boss Mountain Stock of porphyritic quartz monzonite. Related to this intrusion is a complex sequence of rhyolite porphyry and rhyolite dike emplacement, breccia development and molybdenum introduction. Molybdenum mineralization is contained within quartz veins and breccia bodies within the granodiorite phase of the batholith.

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 that rocks where molybdenite was difficult to see with the naked eye gave encouraging assays for molybdenum, NMC Resource intends to have an extensive drill program at Boss Mountain to verify 247 historical surface drill data and to further explore the vertical and horizontal extent of mineralization with a view to developing it to an open pit mine, Boss Mountain has large potential to host a high grade open-pittable ore body 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 polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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