October 13, 2011
NMC Resource (TSX V:NRC) Increases Production, Mill Head Grade and Sales at NMC Moland Mine
Highlights
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PRODUCTION INCREASES BY 9%, PRODUCING 202.3 TONNES OF MoS2
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MILL HEAD GREADE INCREASES BY OVER 14.8% TO 0.31% MoS2
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SALES INCREASES BY 129.8% OVER Q3 OF 2010
VANCOUVER, BC - NMC Resource Corporation ("NMC Resource")
(TSX-V:NRC) is pleased to announce increased production results for the third quarter of 2011.
During the three months ended September 30, 2011, NMC Resource produced 202.3 tonnes of molybdenum disulfide (MoS2), recording a 9% increase compared to the previous quarter.
Mill head grade in the third quarter of 2011 was 0.31% MoS
2, a 14.8% increase over mill head grade recorded for the previous quarter.
Increased production is a direct result of improved mill head grade during the corresponding period.
NMC Resource sold 206,857 pounds of molybdenum for the third quarter of 2011, recording USD 2,849,620 in sales, a 129.8% increase in sales over the sales recorded for the third quarter of 2010.
Yoo Sup Han, President and Director of NMC Resource said, "Results for the third quarter, particularly our recent high-grade discoveries, are promising in terms of our objectives to increase mine life and production profile at NMC Moland Mine.
I would like to thank KORES for their support and applaud our mining team for such an efficient and productive quarter."
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 Resources 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 Companys business, operations and financial performance and condition, as well as managements objectives, strategies, beliefs and intentions.
Specifically, this news release includes Forward-Looking Statements regarding that the results for the third quarter, particularly the recent high-grade discoveries, are promising in terms of NMC Resources objectives to increase mine life and production profile at NMC Moland Mine 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. |