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| Canadian NML Completes Technical Report On Millennium Iron Range |
| = World-class project with 5.014 billion tonnes of iron ore resource = |
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Canadian New Millennium Capital Corp ("NML") announced March 30 that the technical report completed by Geostat Systems International Inc. in compliance with NI 43-101, was filed with SEDAR on March 23, 2007. These results outline 1.349 billion tonnes (Bt) of Indicated Mineral resource and an additional 0.992 Bt of Inferred Mineral Resource based on a cut-off grade using a Davis Tube Weight Recovery of 18%. This discovery, in addition to its LabMag Iron Ore Property, now increases NML's total iron ore resource in the area to 5.014 Bt (of which 3.545 Bt are Proven and Probable Mineral Reserves) plus an additional 2.467 Bt of Inferred Mineral Resources. These mineral formations stretch over a strike length of 37 kilometers in what has been named the Millennium Iron Range. NML is on track to produce a Pre-Feasibility Report on the KéMag Iron Ore Property by the end of June 2007 when a decision will be made to advance one of these World Class projects to the feasibility stage. Planning for a summer 2007 drilling program on the KéMag Property is well underway. New Millennium holds a 100% interest in the KéMag Project (Quebec) and an 80% interest in the LabMag Project (Newfoundland and Labrador). Both properties are located within the Millennium Iron Range, the center of which is located approximately 230 km north of Labrador City, NF and 40 km northwest of Schefferville, QC. |
| last modified : Fri 06 Apr, 2007 [10:49] |
