| | | May 27, 2008
MBMI Operations Update
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| | Vancouver, B.C., May 27, 2008 - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX‑V: MBR) wishes to provide an update of operations of the Company with regards to the Alpha Nickel project in Palawan, Philippines. A total of 99,000 dry metric tonnes of laterite nickel material at an average grade of 1.85% Nickel have been sold and shipped to China and Japan during the calendar year to date. Generally, shipments have averaged approximately 30% moisture content and have varied in size and grade depending upon the particular requirements of the commercial buyer. A further 140,000 wet metric tons of nickel bearing material has been excavated from within the project permitted areas and has been segregated by grade and stockpiled at the coast in preparation for shipping to Asian buyers.
The full scale mine permit application process continues for all four of the Palawan nickel projects. Management is encouraged with the progress made by our Philippine partners to secure these permits, as well as the strong municipal and provincial support that has been generated for the projects.
Approximately 1,000 check assay samples taken from the Alpha and Bethlehem properties have been delivered to an accredited laboratory in Australia for assay result confirmation purposes; the data will be utilized in estimating initial resources in accordance with CIM classifications pursuant to National Instrument 43-101.
Corporate Communications Manager Appointed
MBMI's Board of Directors wishes to announce the appointment of Mr. Lloyd Jacobs to oversee the corporate communications for the Company. Mr. Jacobs graduated from the British Columbia Institute of Technology with a specialization in Marketing Management and Communications. Mr. Jacobs has had a successful career in both private and publicly traded companies, and prior to this appointment developed and maintained the investor relations functions for a small cap U.S. mining and exploration company.
Options Granted
Pursuant to the Company's option plan, certain employees and consultants have been granted a total of 150,000 common share options exercisable at $0.80 per share and expiring May 12, 2011.
Corporate Profile
MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI's Philippine partners and subsidiaries jointly control eight nickel laterite projects in Palawan and Samar, Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel material to primary commercial buyers in Asia.
The Company's Philippine partners have been granted three Small Scale Mining Operating permits for the Alpha nickel property in Narra, Philippines. The issuance of these permits enables the extraction of raw nickel material for shipment to Asian commercial buyers, and the first nickel material shipment was made in January, 2008.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael T. Mason"
President and Director
Further Information
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact the Company's Investor Relations department at 1-877-399-1991 or mbr@mbmiresources.com.
The TSX Venture Exchange has not reviewed and does not take responsibility for the accuracy of this release.
This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements. |
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| | You can view the Next News Releases item: Fri Jul 11, 2008, MBMI Announces Confirmatory Grade Control Drill Results From Alpha
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