New World Resource Corp.
TSX VENTURE : NW

New World Resource Corp.

January 17, 2008 12:04 ET

New World Secures Surrounding Ground at Lipena Through Partnership with Bolivian National Mining Corporation, COMIBOL

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2007) - New World Resource Corp. (the "Company") (TSX VENTURE:NW) announces that it has signed a joint venture agreement with Corporacion Minera de Bolivia (COMIBOL) with respect to approximately 6,000 hectares of COMIBOL's Bonete mining concession. The relevant portion of the concession surrounds the Company's Lipena copper-gold project in south-eastern Bolivia. COMIBOL is the Bolivian government entity that controls all mineral exploration on state owned lands.

John Lando, the Company's President and CEO, commented, "Signing this agreement represents the culmination of months of negotiation with COMIBOL and the beginning of a very exciting chapter for New World. It is also a strong indication that the Bolivian government respects, and is encouraging, private investments within the mining sector. We believe our partnership with Bolivia's national mining corporation will strengthen the Company's overall position in Bolivia."

"Equally exciting to New World is the fact that this part of the Bonete mining concession surrounds the Company's Lipena project, which has shown very promising results from drilling completed to date. New World has the right to acquire a 75% interest in a joint venture on the Lipena project from EMUSA, a privately owned Bolivian mining company."

With the execution of the COMIBOL joint venture agreement, the Company is now poised to begin a new phase of exploration on the expanded Lipena project. Work is scheduled to resume shortly, and will consist of two programs running concurrently. The first work program will involve the resumption of a detailed drill program focused on the previously identified La Mosa, Central and Lipena Zones. The Company plans to continue drilling the Lipena Zone in order to produce a National Instrument 43-101 compliant resources estimate.

The concurrent regional work program will consist of geophysical surveys, stream, soil and rock geochemical sampling, prospecting and mapping. This reconnaissance level exploration is required as the Bonete concession has received very little attention from previous operators, in spite of the Lipena mineralization trending onto the ground.

Lipena is hosted by a quartz-tourmaline breccia. Mineralization and alteration studies indicate that the breccia may represent the uppermost levels of a deeper copper-gold porphyry system in an area that has never been evaluated from a porphyry perspective. With the COMIBOL joint venture in place, the Company can now explore these very significant additional targets.

Prior to New World's acquisition of Lipena, a wholly owned subsidiary of Battle Mountain Gold Corp. drilled a total of 12,690 metres in 44 holes (21 reverse circulation and 13 diamond drill holes) between 1994 and 1996. Since April 2006, New World has drilled a total of 13 holes (5,512 metres): 7 holes in the Lipena Zone and 6 holes in the La Mosa and Central Zones. To date, the Lipena Zone appears to be the most prospective, and the mineralization is trending onto the relevant area of the Bonete concession. Below is a summary of previously released significant results from the 7 holes that have been drilled by the Company in the Lipena Zone. For further details, please see the Company's news releases dated December 1, 2006 and February 27, 2007.



Lipena Zone Drilling:

------------------------------------------------------------------------
Drill Hole From To Width True Width Au g/t Cu % Ag g/t
------------------------------------------------------------------------
06DLP-45 240 378 138 119.8 1.68 1.09 12.54
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including 240 327 87 74.4 1.77 1.45 11.65
------------------------------------------------------------------------
06DLP-46 335 474 139 122.9 0.94 0.74 7.29
------------------------------------------------------------------------
including 335 425 90 80.9 1.27 1.0 9.38
------------------------------------------------------------------------
06DLP-47 231 443 212 172.5 2.57 1.48 21.94
------------------------------------------------------------------------
including 290 360 70 60.6 5.31 3.17 47.18
------------------------------------------------------------------------
including 338 346 8 6.9 23.21 7.5 90.55
------------------------------------------------------------------------
06DLP48 168 369 201 Vertical Hole 1.15 .89 11.96
------------------------------------------------------------------------
including 193 286 93 Vertical hole 2.04 1.68 19.91
------------------------------------------------------------------------
06DLP-49 137 368 231 215.6 0.88 0.71 12.11
------------------------------------------------------------------------
including 226 289 63 59.3 1.77 1.42 23.75
------------------------------------------------------------------------
06DLP-52 270.8 362 91.3 67.3 2.64 1.33 16.2
------------------------------------------------------------------------
06DLP-53 248 351 103 85.6 2.19 1.39 19.23
------------------------------------------------------------------------
including 298 340 42 36.4 2.95 2.29 24.54
------------------------------------------------------------------------


Joint Venture Agreement

Under the agreement, the Company, through its wholly owned subsidiary New World Resource Bolivia S.A., is entitled to a 60% interest in net profits from production. The Company will act as operator of the joint venture.

The Company will incur all expenditures on the relevant portion of the concession during an initial 42 month exploration period, and thereafter in order to produce a feasibility study. The Company has agreed to incur minimum expenditures of US$300,000 during the first 12 months of exploration. Expenditures for subsequent years of exploration will be determined by the Company, subject to COMIBOL approval, once results from the previous year's exploration have been received. In order to keep the joint venture agreement in good standing, the Company must make payments to COMIBOL of US$2,000 per month for the first 12 months, US$4,000 per month for the next 18 months, and US$5,000 per month for a final 12 months.

The Company will also incur all mine development and construction costs. All exploration, mine development and construction costs will be recoverable by the Company prior to distribution of net profits from production.

The initial term of the agreement is 10 years, although it may be extended if justified by the feasibility study. The Company may terminate the agreement at any time prior to the expiry of the term; if the Company terminates the agreement during the production period, it will pay to COMIBOL US$100,000.

The parties will have an equal number of representatives on the board (the "Board") of the joint venture, and the technical committee. COMIBOL is entitled to appoint the President of the technical committee. The party entitled to appoint the President of the Board will rotate every six months. The President of the Board will have a casting vote.

Quality Control and Assurance

Exploration work on the Lipena project will be under the supervision of Joan McCorquodale, P.Geo, the Company's Vice President, Exploration and a "qualified person" as defined in National Instrument 43-101. Ms. McCorquodale is responsible for the preparation of the technical information contained in this news 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.

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, the success of exploration activities and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual results may vary from the forward-looking information. A number of material factors, many of which are beyond the Company's control, could cause actual results to differ materially from the forward-looking information. Such factors include, among others, risks and uncertainties 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. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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