New World Resource Corp.

New World Resource Corp.

November 09, 2009 15:47 ET

New World Resource Corp.: High Lithium Content in Additional Pastos Grandes Sampling, Drill Program to Begin

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2009) - New World Resource Corp. (the "Company") (TSX VENTURE:NW) announces the results of the recently completed Pastos Grandes brine sampling program and the commencement of a drill program employing sonic drill technology.

The Company collected an additional 9 brine samples during October, within the limits of the Company's Pastos Grandes concession. The results continue to return significant lithium values and consistently low Mg/Li ratios.

Pastos Grandes October 2009 Brine Sampling

 Li ppmK ppmMg ppmMg/Li
Li = Lithium, K = Potassium, Mg = Magnesium, ppm = parts per million


The Company will be utilizing a portable light weight sonic drill to carry out a twenty-hole drill program. This drill is capable of collecting intact core samples, which are essential for detailed hydrological testing, including permeability and porosity data. Specific design alterations are being tested and added to this drill in order to selectively sample discrete brine horizons without cross contamination between aquifers. The holes will average 10 to 15 metres in depth. To date most of the brines samples collected have been from pits of less than 1.3 metres depth.

The Company's lithium consultant, Teresita Kullberg, PhD., along with management will visit the project during the commencement of this drill program. Dr. Kullberg worked for FMC Lithium and Chemetall Foote Corporation for 26 years, and has worked directly on the Atacama Salar in Chile. Her experience ranges from lab research and development to pilot plant design and production. Subsequent to receipt of results from this program, the next stage of exploration will involve test evaporation pits and deeper drilling to determine the full extent of the Pastos Grandes Salar.

John Lando, President, states, "We continue to be very encouraged by the consistency of the high lithium results and the low Mg/Li ratio at Pastos Grandes. This planned drill program will further advance our understanding of the brine's economic potential."

The Deal

The Joint Venture with Gonzalo Miranda Salles and Maria Elena Gumucio Salles (together, "Salles") has a term of 20 years and the initial participation interests are 99% for the Company's subsidiary, New World Bolivia S.A. and 1% for Salles. In order to keep the Joint Venture in good standings, the Company must make payments to Salles totaling US$446,000 (US$17,000 paid) over five years and make the 'Patentes Mineras' payments to the government to keep the concession in good standing. The Joint Venture does not provide for any minimum work commitment. The project concession size covers approximately 60 square kilometres and is located in the Sud Lipez Province, Department of Potosi within the Bolivian Altiplano.

Pastos Grandes Concession

The Bolivian Altiplano is host to many alkaline and saline lakes and salars including the Salar de Uyuni which hosts the world's largest known lithium reserve. Pastos Grandes is located approximately 113 kilometres south southwest from Salar de Uyuni, within the same geological and geographical setting. This hyper saline lake/salar basin is surrounded by intermittent rivers and thermal springs discharging waters into the salar. The Pastos Grandes salar is elliptical in shape with the major axis of trending NW -- SE and covers an area of almost 120 km2.

Quality Control and Assurance

Joan McCorquodale, P. Geo is the Company's Vice President, Exploration and "qualified person" as required under National Instrument 43-101 and has reviewed the technical information contained in this press release.

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.


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 proposed use of proceeds for the brokered private placement. 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.

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