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New World Receives US$750,000 in Cash / Lipeña Partner MARTE Increases Ownership
Published : September 18, 2012
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Mots clés associés :   Copper | Lithium |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - New World Resource Corp. (News - Market indicators)(FRANKFURT:NWU) ("New World" or the "Company") announces that it has further amended the terms of its option agreement (the "Amended Agreement") with Empresa Minera Marte S.R.L. ("MARTE"). Pursuant to the Amended Agreement and subject to TSX Venture Exchange approval, MARTE has an option to acquire 37.4% of the Company's 75% interest in the Lipeña copper-gold project in southern Bolivia

Under the terms of the Amended Agreement, MARTE will:

  • earn 17.4% interest by making US$750,000 cash payment to the Company.
     
  • earn the remaining 20% by spending US$1,250,000 in mineral exploration expenditures on the Lipeña copper-gold project over the next 12 months.

Completion of this transaction will result in MARTE holding 62.4% of the project and New World will hold 37.6%.

Luis Mercado, an officer of MARTE, is a director and the largest shareholder of New World. The Amended Agreement constitutes a related party transaction pursuant to Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 - Protection of Minority Securities Holders in Special Transactions ("MI 61-101"). The Amended Agreement is exempt from the formal valuation and minority shareholder approval requirements pursuant to Part 5 of MI 61-101 by virtue of the financial hardship exemption set forth in Sections 5.5(g) and 5.7(e), respectively. The terms of the Amended Agreement were negotiated by the independent directors of the Company, and Mr. Mercado declared his interest in the transaction and abstained from voting on it.

New World Resources CEO, John Lando commented, "This is a significant development opportunity for our Lipeña copper-gold project. MARTE plans to spend US$1.25 million on the project in the coming year. Having a well-respected Bolivian miner in charge of the next phase of exploration allows New World to benefit from the investment made in Bolivia while the Company takes a new direction and explores for project opportunities in mining friendly jurisdictions."

New World is presently evaluating several possible projects and the Company hopes to release more information on this initiative in the coming weeks.

About New World

New World Resource Corp. is a Canadian based 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

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 completion of the Amended Agreement and the Company's evaluation of new projects. 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.

New World Resource Corp.
John Lando
(604) 669-2701 or Toll Free: 1-800-663-0510
(604) 687-4670 (FAX)
info@newworldresource.com
or
New World Resource Corp.
Ian Mitchell
(604) 669-2701 or Toll Free: 1-800-663-0510
(604) 687-4670 (FAX)
info@newworldresource.com
www.newworldresource.com

New World Resource Corp.

CODE : NW.V
ISIN : CA6492971081
Suivi et investissement
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New World Res. est une société d’exploration minière d'or et de cuivre basée au Canada.

New World Res. détient divers projets d'exploration en USA et en Bolivie.

Ses principaux projets en exploration sont LONG VALLEY PROJECT en USA et PASTOS GRANDES et LIPENA en Bolivie.

New World Res. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 2,7 millions CA$ (2,0 millions US$, 1,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 11 février 2011 à 3,30 CA$, et son plus bas niveau récent le 06 novembre 2015 à 0,01 CA$.

New World Res. possède 13 299 045 actions en circulation.

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