RCCMF - Nippon Temporarily Suspends Exploration Activities at Rocmec 1

(TheNewswire)

Brossard (Quebec) – TheNewswire - March 12th, 2021 - Nippon Dragon ResourcesInc. (“Nippon” or “NDR”) (TSXV:NIP) (OTC:RCCMF) , Nippon’sManagement and Board of Directors announces that while the company ispursuing various funding options, and in order to preserve cash onhand, it has been decided to temporarily suspend its explorationactivities at Rocmec 1.

Over the past months Nippon conducted grassrootsexploration to determine the existence, location, extent or quality ofmineral resources at Rocmec 1. Additionally during that same periodthe company constructed 150m of adits / mining drifts and conductedgeological surveying, drilling, sluice and shaking table testing,slusher / tugger-scraper digging, ore sampling, fire assays withgravimetry finish and spectral analysis.

‘I am extremely proud of the work accomplished todate and confident the situation will be resolved in the very nearfuture’, states Jean-Yves Therien, Nippon’s interim President andCEO.

Rocmec 1 project

The Rocmec 1 project is located in the DasseratTownship, Province of Québec on the shores of the Labyrinthe Lake. Itis approximately 35 kilometres west of the town of Rouyn-Noranda andis easily accessible from Route 117 and the frontier gravel roadseparating Quebec and Ontario and a secondary gravel road to the site.The property was acquired in October 2005, dewatering andrehabilitation of the mine commenced in January 2006. To date, NipponDragon has invested approximately $33,000,000 in rehabilitating theproperty, surface and underground infrastructure, diamond drilling,equipment and drifting. The property includes a 100m deep twocompartment shaft, an 844m decline allowing access to five levels (50,70, 90, 110 and 130 metres). On these levels a total of 1700 metres(drifts and cross-cut drifts) were driven. The Rocmec 1 mineralizedbodies are well defined by diamond drill holes. The 2010 NI 43-101report by SGS using a cut-off grade of 3 g/t Au reports Measured andIndicated mineral resources of 570,300 tonnes grading 6.52 g/t (119500 oz.) and 1,512,400 tonnes Inferred at 7.4 g/t Au (359 600 oz.).

Goldminds Geoservices Inc. prepared a geological reporton the Boucher structure stating an additional potential tonnagetarget (*) of 400Kt to 500Kt at a grade between 7 g/t to 15 g/t Au canbe expected for metal content. The report is a complement to theexisting NI43-101 compliant Technical Report on the Rocmec 1 property(SGS May 13 th , 2010).

Click on the link to view the report http://www.nippondragon.com/images/Memo_Boucher2020_0407.pdf

About Nippon

Nippon is active in the exploration and the developmentof gold resources in Quebec. The Corporation holds two goldproperties, Rocmec 1 with resources recognised in accordance withNI43-101 and the Denain property. Nippon also has an exclusive licensefor the Thermal Fragmentation mining process.

Le présent communiqué est disponible en françaissite web de Ressources Nippon Dragon.

The company’s growth strategy is based on:

• - The development of its golddeposits with the objective of producing revenue from itsoperations;

  - Increasing the value of its miningassets by prioritizing its exploration targets; and

  - The commercialisation andemployment of its thermal fragmentation technology.

On behalf of the Board,

Fabien Miller, Eng., M.Sc.

Board Member

514-892-1935

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

Cautionary Note RegardingForward-Looking Information

This news release contains"forward-looking information" within the meaning of theapplicable Canadian securities legislation that is based onexpectations, estimates, projections and interpretations as at thedate of this news release.  The information in this news releaseabout the temporary suspension and resumption of Nippon’sexploration activities at Rocmec 1 and any other information hereinthat is not a historical fact may be "forward-lookinginformation".

Any statement that involvesdiscussions with respect to predictions, expectations,interpretations, beliefs, plans, projections, objectives, assumptions,future events or performance (often but not always using phrases suchas "expects", or "does not expect", "isexpected", "interpreted", "management'sview", "anticipates" or "does notanticipate", "plans", "budget","scheduled", "forecasts", "estimates","believes" or "intends" or variations of suchwords and phrases or stating that certain actions, events or results"may" or "could", "would","might" or "will" be taken to occur or beachieved) are not statements of historical fact and may beforward-looking information and are intended to identifyforward-looking information. This forward-looking information is basedon reasonable assumptions and estimates of management of Nippon at thetime such assumptions and estimates were made, and involves known andunknown risks, uncertainties and other factors which may cause theactual results, performance or achievements of Nippon to be materiallydifferent from any future results, performance or achievementsexpressed or implied by such forward-looking information.

Such factors include, but are notlimited to, uncertainties relating to the availability and costs offinancing needed by Nippon in connection with the resumption of itsactivities at Rocmec 1; capital and operating costs varyingsignificantly from estimates; delays in obtaining or failures toobtain required governmental, environmental or other projectapprovals; changes in equity markets; inflation; fluctuations incommodity prices; other risks involved in the mineral exploration anddevelopment industry; and those risks set out in the Nippon's publicdocuments filed on SEDAR (www.sedar.com) under Nippon’s issuerprofile. Although the Company believes that the assumptions andfactors used in preparing the forward-looking information in this newsrelease are reasonable, undue reliance should not be placed on suchinformation, which only applies as of the date of this news release,and no assurance can be given that such events will occur in thedisclosed timeframes or at all. The Company disclaims any intention orobligation to update or revise any forward-looking information,whether as a result of new information, future events or otherwise,other than as required by law.

Ressources Nippon Dragon ResourcesInc. 7055 Taschereau Blvd., suite 500, Brossard (Québec) J4Z1A7

Tel: (450)510-4442 www.nippondragon.com

Copyright (c) 2021 TheNewswire - All rights reserved.