New Wold Resource (A0ETB6)

 

 

 

 

www.newworldresource.com/s/Home.asp

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New World Resource Corp. ist ein kanadisches Mineral-Forschungsunternehmen,
mit einem starken Projektportfolio.

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Chart 1 jahr USA

 

 

The Company is now in the process of expanding its operations at the Pastos Grandes salar and will continue the drilling program throughout the current rainy season. Additional heavy equipment is being mobilized to the salar and the onsite laboratory, offices and accommodations are being improved and expanded. Second phase detailed hydrological tests and the initial brine chemistry and evaporation tests will be underway shortly. This drill program is now over a third complete and further drill results will be released on the completion of this initial drill program.

www.newworldresource.com/s/...ce-Estimate-at-Pastos-Grandes...

In connection with the second tranche of the private placement, the Company paid finders' fees of $28,772.40, issued 172,989 finders' Units, with the same terms and conditions as the Units issued under the private placement, and issued 326,560 non-transferable share purchase warrants ("Finders' Warrants") to Canaccord Genuity Corp. Each Finders' Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.50 expiring on March 11, 2012.

The Units, in the first tranche, are subject to a 4-month hold period expiring July 5, 2011. The Units, in the second tranche, are subject to a 4-month hold period expiring July 12, 2011.

It is anticipated that a third tranche of this private placement will close shortly.

The proceeds of the private placement will be used to fund a drill program to increase the current 43-101 compliant resource on the Company's Lipeña copper-gold project (the 43-101 resource estimate report can be seen on the Company's website; www.newworldresource.com/i/pdf/NW_Lipena_43101_112508.pdf), for further resource definition on the Company's Pastos Grandes lithium-potash brine project and for general working capital.

www.newworldresource.com/s/...f-Non-Brokered-Private-Placement

Management is currently in discussions with a number of strategic groups that would greatly benefit the development of Pastos Grandes. The Company recognizes the importance of delivering the correct strategic partner to this project and will announce any developments on this front as soon as anything material occurs. Drilling is currently on hold while the next phase of work is being planned.

About New World

New World Resource Corp. is a Canadian based mining exploration company focused on building a strong, diversified project portfolio within the Americas. The Company's projects include the Lipeña/Bonete copper-gold project and the Pastos Grandes lithium brine project in Bolivia.

NEW WORLD RESOURCE CORP.

John Lando, President

For information with respect to the Company or the contents of this news release, please contact John Lando or Ian Mitchell at (604) 669-2701 or toll free at 1-800-663-0510, email at info@newworldresource.com, or visit the web site at www.newworldresource.com.

This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, statements regarding the extent and timing of its exploration programs, exploration program budgets and exploration results. This forward-looking information is given as of the date of this news release. Users of forward-looking information are cautioned that actual results may vary from the forward-looking information contained herein. While the Company has based this forward-looking information on its expectations about future events as at the date that such information was prepared, the information is not a guarantee of the Company's future performance and is subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of lithium, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Bolivia; potential defects in title to the properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company is under no obligation to update or alter any forward-looking information except as required under applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.