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NRC Nations Royalty Corporation

0.85
0.00 (0.00%)
Last Updated: 14:28:35
Delayed by 15 minutes
Share Name Share Symbol Market Type
Nations Royalty Corporation TSXV:NRC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.85 0.85 0.87 0 14:28:35

NMC Resource (TSX VENTURE:NRC) Reports Updates on the Boss Mountain Option Agreement

09/01/2013 12:30pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS WIRE SERVICES

NMC Resource Corporation (TSX VENTURE:NRC) ("NMC Resource") is pleased to
announce that it has further amended the terms of the Boss Mountain Exploration
Option Agreement dated August 12, 2011 (the "Boss Mountain Option Agreement"),
as amended on April 18, 2012 and May 31, 2012. 


Under the terms of the Boss Mountain Option Agreement originally disclosed in
the news release dated August 16, 2011, NMC Resource was granted an option to
earn a 100% interest in Boss Mountain Moly Mine for a term of three years with
an additional two year term for option extension provided that the option
conditions were satisfied within the three year option period. 


Under the amended terms of the Boss Mountain Option Agreement, the option period
has been amended to a flat 5 years and the committed option expenditure of not
less than CAD1,000,000 during the option period has been amended to not apply if
at or prior to the Termination Date (as such term is defined in the Boss
Mountain Option Agreement), NMC Resource has completed not less than 3,000
metres of diamond drilling on the Property (as such term is defined in the Boss
Mountain Option Agreement).


Updates on NMC Moland Mine 

On December 27, 2012, Dong Won Resource Corporation, an affiliate of NMC
Resource, acquired NMC Moland Mine's 5% net profits interest (NPI) from the
previous mining rights holders for KRW 450,000,000 (approximately CAD415,000).
NMC Inc., a wholly owned subsidiary of NMC Resource, is the registered owner of
NMC Moland Mine. 


About NMC Resource Corporation

NMC Resource Corporation (TSX VENTURE:NRC) is a mining company with two
molybdenum assets: NMC Moland Mine ("Moland") in South Korea and Boss Mountain
Mine ("Boss Mountain") in British Columbia, Canada. Moland started commercial
production in April 2010 and a new technical report was filed in December 2011
with an updated resource. An active resource expansion drill program continues
at Moland. Resource expansion drilling program requiring deep drill holes has
been sponsored by KORES (Korea Resources Corporation, a state-owned mining
company). Boss Mountain is a past molybdenum producer. NMC Resource is currently
assessing historical data from 247 drill holes completed by the last mine
operator Noranda Mines Ltd.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
NMC Resource Corporation
Do Hyung Kim
President, Chief Executive Officer and Director
(604) 643-1730
1 (888) 723-7261 (FAX)
www.nmcresource.com


KIN Communications Inc.
Investor Relations
1 (866) 684-6730
ir@kincommunications.com
www.kincommunications.com

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