Nouveau Monde Mining Enterprises Inc.

Nouveau Monde Mining Enterprises Inc.

December 15, 2015 09:00 ET

Nouveau Monde Announces a Mineral Resource Estimate of 26.3 Mt at a Grade of 3.73% Cg in the Indicated Category and 19.2 Mt at a Grade of 3.67% Cg in the Inferred Category... its South-east and South-west Zones - Tony Block - Matawinie Project

GATINEAU, QUEBEC--(Marketwired - Dec. 15, 2015) - Nouveau Monde Mining Enterprises Inc. ("Nouveau Monde") (TSX VENTURE:NOU) (OTC PINK:NMGRF) (FRANKFURT:NM9) is pleased to report the results of a first Mineral Resource Estimate, completed in accordance with National Instrument (NI) 43-101 guidelines, covering the South-East Zone and South-West Zone of the Tony block, Matawinie graphite property (Table 1). A first Mineral Resource Estimate on the West Zone is expected to be completed during the first quarter of 2016. The Matawinie project is located in the Saint-Michel-des-Saints area, some 130 km north of Montreal, Quebec, Canada.

Table 1. Combined Mineral Resource Estimate1 for the South-East and South-West Zones

Mineral Resource Category2,3,4 Tonnage (Mt) Grade (% Cg)4
Indicated 26.3 3.73
Inferred5 19.2 3.67

1 The Mineral Resources provided in this table were estimated using current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards on Mineral Resources and Reserves, Definitions and Guidelines.

2 Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred and Indicated Mineral Resources to Measured Mineral Resources.

3 Mineral Resources are stated at a cut-off of 2.5% Cg.

4 All analyses were performed by ALS Minerals Laboratories and delivered as graphitic carbon ("Cg"), internal analytical code C-IR18.

5 Inferred Mineral Resources represent material that is considered too speculative to be included in economic evaluations. Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Indicated or Measured Mineral Resources.

The graphite Mineral Resource Estimate presented here was prepared by Yvan Bussieres, P.Eng. (Quebec) and Antoine Yassa, P.Geo. (Quebec and Ontario), both independent Qualified Persons. A Technical Report prepared in accordance with NI 43-101 guidelines will be filed on SEDAR within 45 days of this release.

The following files may be downloaded to support the reading of the paragraphs below:

Data Sources and Estimation Methods

The Mineral Resource Estimate is based on 31 core drill holes totalling 4,186.6 metres, ranging in length from 33 m to 183 m (see press release dated December 3, 2015). Samples collected from a 193-metre trench on the South-West zone (see press release dated September 10, 2015) and from a 198-metre trench on the South-East zone (see press release dated September 29, 2015) were also used in the process. In all, 13 mineralized zones encased in paragneiss units were interpreted and modelled from this data.

The block model was developed using GEMS software by Geovia using the ID2 method of interpolation and different search ellipses on the two separate South zones. Blocks used for the modelling are 5 metres long by 5 metres wide by 5 metres high, and a single density value of 2.87 t/m3 was used. The depth of the model was limited to 100 metres (or 345 m ASL). A buffer of 60 m from the lake perimeter using a 55° slope was also applied to the model, as was a cut-off grade of 2.5% Cg. These three limits are reflected in the Mineral Resource Estimate presented here, even though mineralization is open at depth. The Mineral Resource Estimate presented here is not to be considered a Mineral Reserve Estimate. No economic assessment has yet been performed to demonstrate economic viability. The table below (Table 2) lists tonnage against various cut-off grades.

Table 2. Graphite Resource Estimate using various cut-off grades

Indicated Category
Cut-Off Grade (% Cg) Tonnage (t)1 Grade (% Cg) Graphite Content (t)
5.00 1,250,000 5.3 66,250
3.00 21,710,000 3.93 853,200
2.502 26,275,000 3.73 980,060
2.25 27,675,000 3.66 1,012,900
2.00 28,520,000 3.62 1,032,420
1.75 29,150,000 3.58 1,043,570
1.50 29,490,000 3.56 1,049,840
1.25 29,660,000 3.54 1,049,960
1.00 29,775,000 3.53 1,051,060
Inferred Category
Cut-Off Grade (% Cg) Tonnage (t)1 Grade (% Cg) Graphite Content (t)
5.00 780,000 5.23 40,840
3.00 15,520,000 3.87 601,190
2.502 19,200,000 3.67 703,790
2.25 20,325,000 3.59 730,530
2.00 20,945,000 3.55 743,810
1.75 21,270,000 3.53 750,020
1.50 21,750,000 3.48 757,810
1.25 21,865,000 3.47 759,450
1.00 21,940,000 3.47 760,290
1A single density of 2.87 t/m3was used in the model and tonnage is rounded.
2A cut-off grade of 2.5% Cg was used in the present Resource Estimate.

Quality Assurance / Quality Control

All quality control information on samples used to determine the Mineral Resource Estimate presented here is available in the press releases referenced in the "Data Sources and Estimation Methods" paragraph above.

The technical information pertaining to the Mineral Resource Estimate in this news release was prepared by Yvan Bussières, P.Eng. and Antoine Yassa, P.Geo., independent Qualified Persons as defined by National Instrument 43-101 guidelines.
The press release was reviewed by Eric Desaulniers, M.Sc., P.Geo., President and CEO of Nouveau Monde, a Qualified Person under National Instrument 43-101 guidelines.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) has in any way passed upon the merits of the proposed transaction or approved or disapproved the contents of this press release.

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated by such statements. Nouveau Monde will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Nouveau Monde.

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