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NORD RESOURCES CORPORATION ANNOUNCES FOURTH QUARTER/YEAR END 1991 RESULTS

 NORD RESOURCES CORPORATION ANNOUNCES
 FOURTH QUARTER/YEAR END 1991 RESULTS
 DAYTON, Ohio, March 23 /PRNewswire/ -- Nord Resources Corporation (NYSE: NRD) today announced revenues for the year ended Dec. 31, 1991 of $108,407,000, compared to $101,241,000 for 1990. A loss from continuing operations of ($6,962,000), or ($.46) per share, was reported for 1991, compared to earnings in 1990 of $2,464,000, or $.16 per share. Discontinued operations, related to the company's decision to dispose of its Perlite operations, incurred a loss of ($6,584,000) or ($.44) per share in 1991, which includes a fourth quarter $4.5 million ($.30) per share reserve for loss on disposal. The discontinued operations in 1990 incurred a loss of ($2,378,000), or ($.15) per share. For 1991 in total, the company incurred a net loss of ($13,546,000) or ($.90) per share, compared to net earnings of $86,000, or $.01 per share, in 1990.
 The rutile segment reported operating earnings for 1991 of $11,721,000, compared to operating earnings of $20,168,000 in 1990. The decline in operating earnings was primarily due to an 8 percent decrease in prices received on rutile sales in 1991 compared to 1990, as a result of a decline in demand for rutile caused by the worldwide recession. Rutile production in 1991 reached a record 155,000 metric tons, compared to 144,000 metric tons in 1990. During 1991 and 1990, the company sold 148,000 and 140,000 metric tons of rutile, respectively. The dredge and related equipment are currently in the process of being moved to a new ore deposit which contains a higher grade ore reserve than was mined in 1990 and 1991. Mining in the new ore body should have a favorable impact on production costs and operating earnings after completion of the dredge move. This deposit is expected to last into the early 2000s.
 The kaolin segment reported an operating loss for 1991 of ($8,035,000), compared to an operating loss of ($8,275,000) in 1990. Operating results for the kaolin segment, including introduction of the Norplex(R) family of products, continue to be negatively affected by the worldwide recession particularly in the paper industry.
 For the fourth quarter of 1991, revenues were $27,201,000, compared to fourth quarter 1990 revenues of $29,707,000. Earnings of $612,000, or $.04 per share, were realized from continuing operations during the fourth quarter of 1991, compared to $438,000, or $.03 per share, during the same quarter of 1990. The previously mentioned discontinued operations incurred a loss of ($4,954,000) or ($.33) per share, including the $4.5 million reserve, in the fourth quarter of 1991, compared to a loss of ($475,000) or ($.03) per share, during the fourth quarter of 1990. For the fourth quarter of 1991 in total, the company incurred a net loss of ($4,342,000), or ($.29) per share, compared to a net loss of ($37,000) in the fourth quarter of 1990.
 During the fourth quarter of 1991, improved operating results were realized from the kaolin segment, primarily due to increased sales of calcined kaolin produced by the new production facility. Operating earnings from the rutile segment continued to be negatively affected by declining rutile prices; however, reductions of $1.1 million during the 1991 fourth quarter of cost estimates made throughout 1991 had a positive effect on the fourth quarter results. Also, the company's share of loss from its Nord Pacific affiliate declined by $1.3 million in the fourth quarter of 1991 compared to 1990.
 Nord Resources Corporation is a major producer of rutile (a premium titanium dioxide mineral) and kaolin, and holds a siginificant interest in Nord Pacific Limited (NASDAQ: NORPF), a company engaged in the exploration for and development of precious, strategic and base metals.
 The following summary of operations is stated with both continuing and discontinued operations:
 For the Year ended
 December 31
 1991 1990
 Revenues $108,407,000 $101,241,000
 Earnings (Loss) from
 Continuing operations $ (6,962,000) $ 2,464,000
 (Loss) from Discontinued
 Operations $(6,584,000) $(2,378,000)
 Net Earnings (Loss) $(13,546,000) $ 86,000
 Earnings (Loss) per Share
 from Continuing Operations $(.46) $.16
 (Loss) per Share from
 Discontinued Operations $(.44) $(.15)
 Net Earnings (Loss) per Share $(.90) $.01
 For the Quarter ended
 December 31,
 1991 1990
 Revenues $27,201,000 $29,707,000
 Earnings from
 Continuing Operations $612,000 $438,000
 (Loss) from
 Discontinued Operations (4,954,000) (475,000)
 Net (Loss) $(4,342,000) $(37,000)
 Earnings per Share from
 Continuing Operations $.04 $.03
 (Loss) per Share from
 Discontinued Operations $(.33) $(.03)
 Net Earnings (Loss) per Share $(.29) $(.00)
 -0- 3/23/92
 /CONTACT: Terence H. Lang, senior vice president-finance, or Susan Shahan, director of shareholder relations, both of Nord Resources Corporation, 513-433-6307/
 (NRD) CO: Nord Resources Corporation ST: Ohio IN: MNG SU: ERN


KK -- CL009 -- 0523 03/23/92 11:16 EST
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Date:Mar 23, 1992
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