Resource Mining Corporation Limited (ASX:RMI) Recorded Significant Nickel and Cobalt Results at Wowo Gap Nickel Deposit

Perth, June 23, 2011 AEST (ABN Newswire) - Innovative Perth-based minerals explorer Resource Mining Corporation (ASX:RMI) has recorded significant nickel and cobalt assay results from its latest drill program at its Wowo Gap Nickel deposit, located 200 kilometres east of Port Moresby in Papua New Guinea in an area known to host significant Nickel-Cobalt mineralisation.

The drill program was designed to infill holes on a 200 metre hole spacing within areas of known mineralisation towards the north of the project, and to test for extensions of mineralisation to the southwest.

"These results are extremely positive. The high grade mineralisation remains open to the north and an exciting new south west extension has been identified. The high Nickel grades confirm the quality of the Wowo Gap deposit as world class and the extension to the mineralisation provides confidence that the mineral resource is larger than current estimates" said Resource Mining Corporation Managing Director Warwick Davies.

Over 250 holes have been drilled since commencement of the program using an innovative custom made man-portable core drilling rig capable of much faster, higher quality and more cost effective drilling using a largely unskilled local workforce.

"We've been concentrating our drilling program in thicker profiles of limonite that occur within a geological unit known as the Sivia Breccia which trends along the Bereruma Fault and these assay results are better than our original expectations. We expect these will support additional tonnage in our updated resource estimates," said Mr Davies.

An updated resource estimate is expected to be completed in the first half of July 2011 followed by another update in October of this year.

"The recently received assay results continue to reinforce the potential of the project to host significant near surface laterite nickel mineralisation which would lend itself to a high quality, low cost surface mining operation," Mr Davies said.

The latest assay results received are from 50 holes, 35 of which intersected high grade Nickel of a grade greater than one per cent Nickel with some as high as 1.56 per cent Nickel.

"To get seven out of ten holes with grades over one per cent Nickel is outstanding," said Mr Davies.

For the complete Resource Mining announcement including figures and tables, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/546414.pdf

Contact

Warwick Davies Managing Director Ph: +61-8-9213-9400 M: +61-418-949-759 E: wd@resmin.com.au Thomas Murrell Investor Relations M: +61-417-984-996 E: thomasm@resmin.com.au