New World Resource Corp.
TSX VENTURE : NW

New World Resource Corp.

February 09, 2010 13:10 ET

New World Secures Additional Concessions at Pastos Grandes Lithium Brine Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2010) - New World Resource Corp. ("New World" or the "Company") (TSX VENTURE:NW) announces that it has finalized a joint venture agreement (the "Agreement") with Empresa Minera Kellguani ("KELLGUANI") a subsidiary of Empresa Minera Unificada S.A. ("EMUSA"). The Agreement entitles New World to a 99% interest in Kellguani's 711 hectares within the lithium enriched Pastos Grandes salar. The additional concession increases New World's position to 7,512 hectares and represents over 62% of the entire salar. The Agreement stipulates that KELLGUANI will have exclusive rights to the exploitation of the Ulexite within the 711 hectares. The Company does not anticipate KELLGUANI's current Ulexite mining to be in conflict with a lithium brine mining operation.

The terms of the agreement call for New World to pay KELLGUANI $25,000 dollars immediately, a further $25,000 and 150,000 shares after one year and a further $25,000 and 150,000 shares after 2 years. Upon a commercial production decision for Lithium being achieved at Pastos Grandes KELLGUANI will receive a further 1 million shares. The Agreement is subject to TSX Venture approval.

Exploration Update

The Company's sonic drill program at Pastos Grandes was suspended by the current rainy season and a new exploration program is expected to begin in March. A 20 hole drill program is planned to sample individual aquifers and to test the depth of the salar. With significant input from the Company's Lithium consultant Dr. Teresita Kullberg, a detailed plan has been completed to fast track the exploration and development program at Pastos Grandes. The Company has begun to source the necessary equipment for environmental data collection, test pan materials, and other necessary lab equipment. A detailed plan will be completed shortly to implement lithium test pans and ponds to understand the brine chemistry and to produce lithium carbonate samples.

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.

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 Lipena 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 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.

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