New World Resource Corp.
TSX VENTURE : NW

New World Resource Corp.

July 16, 2009 18:08 ET

New World Arranges Debt Settlement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2009) - New World Resource Corp. (TSX VENTURE:NW) (the "Company") announces that, subject to TSX Venture Exchange approval, it has reached an agreement to issue 361,461 common shares at a deemed price of $0.13 per share to Shear Minerals Ltd. ("Shear") to settle $46,990 of outstanding debt.

The debt was incurred by way of two joint venture agreements dated August 1, 2006 between Shear, the Company, International Samuel Exploration Corp., and Mantle Resource Inc. (collectively, the "Participants") on certain mineral claims and leases situated in the Northwest Territories commonly referred to as the Afridi Lake Property. Pursuant to the joint venture agreements, the Participants elected to participate in a 2008 exploration program. Shear, as the operator, paid the full costs relating to the 2008 program and invoiced the Company for payment of its proportionate share, of which $46,990 is outstanding.

The shares will be subject to a hold period of four months plus one day. The shares for debt transaction is an Arm's Length Transaction, as defined in the TSX Venture Exchange Corporate Finance Manual, and no new Control Person will be created.

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.

NEW WORLD RESOURCE CORP.

John Lando, President

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.

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