Mincor Resources NL : Mincor Acquires Highly Prospective Kambalda Nickel Tenements

MEDIA RELEASE

Wednesday, 11 January 2012

MINCOR ACQUIRES HIGHLY PROSPECTIVE KAMBALDA NICKEL TENEMENTS

Australian nickel miner Mincor Resources NL (ASX: MCR) announced today that it has added a substantial package of highly prospective tenements to its land-holdings in the world-class Kambalda Nickel District.
The tenements are being acquired from Jupiter Mines Ltd through a Sale Agreement executed earlier today. Completion of the acquisition, for a total cost of $200,000, remains subject to a number of statutory and regulatory approvals.
Mincor is already the largest holder of nickel tenements in the Kambalda Nickel District, where it has been in successful production for nearly 11 years. Over that time Mincor has discovered an estimated 100,000 tonnes of nickel metal, and has produced more than 135,000 tonnes of nickel-in-ore.
The latest acquisition adds some 56.4 square kilometres to Mincor's landholdings in the southern part of the Widgiemooltha Dome. The tenements are along strike of some of the most successful mines in Kambalda, including Mincor's operating Miitel and Mariners Mines and its former Redross Mine.
The new tenements contain approximately 12 kilometres of the strike of the basal contact, which is a direct continuation of the key geological horizons that host the above-mentioned mines, themselves containing over
170,000 tonnes of nickel metal in mined and unmined mineral resources.
The fertility of the ultramafic rocks on the new tenements has been confirmed by a number of nickel sulphide drill intersections* achieved by previous explorers. These intersections include remobilised low-tenor massive sulphides as well as disseminated nickel sulphides.
Once the acquisition is complete the new tenement package will become an important part of Mincor's aggressive and well-funded Kambalda nickel exploration program.

*Better historic diamond intersections >1% nickel include:

Hole ID	AMG84_51 Easting	AMG84_51 Northing	AMG84_51 RL	From	To	Interval	Grade % Ni
JCDDH003	369396	6491946	305.89	157.15	157.3	0.15	7.89
JCDDH003				161.9	163.25	1.35	6.36
JCDH005	369445	6491909	305	222	227.26	5.26	0.75
including				224.16	225.13	0.97	1.16
JCDH006	369454	6491803	305	208.21	210.84	2.63	1.12
including				208.21	209.23	1.02	1.77

*Source Jupiter Mines Website

• All diamond drill holes at Cassini were angled at approximately 60 degree dip to the west (270º)

• Kalassay in Kalgoorlie cut and assayed all samples (Acid digest with iCP-OeS Finish)

The information in this Public Report that relates to Exploration Results is based on information compiled by Mr Peter Muccilli, who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Muccilli is a permanent employee of Mincor Resources NL. Mr Muccilli has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Muccilli consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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FIGURE 1: Tenement Location Map

Mincor is a leading Australian nickel producer and an emerging multi-commodity resources growth company, and is listed on the Australian Securities Exchange. Mincor operates two mining centres in the world class Kambalda Nickel District of Western Australia, and has been in successful production since 2001.

- ENDS -

Released by: On behalf of:

Nicholas Read David Moore, Managing Director

Read Corporate Mincor Resources NL

Tel: [phone] Tel: [phone] www.mincor.com.au

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