New World Resource Corp.
TSX VENTURE : NW

New World Resource Corp.

November 16, 2007 16:33 ET

New World Closes $1 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 16, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO US NEWSWIRE SERVICES

New World Resource Corp. (the "Company") (TSX VENTURE:NW) has closed a non-brokered private placement of 2,000,000 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $1,000,000.

Each Unit consists of one common share and one warrant to purchase an additional common share at a price of $0.70 for a period of one year. All securities are subject to a hold period, which will expire on March 16, 2008.

In connection with the private placement, the Company paid a cash finder's fee to three finders equal to 5% of the gross proceeds raised from Units sold to purchasers introduced to the Company by the finders.

The proceeds of this financing will be used for further exploration of the Company's La Negra lead-zinc-silver project in central Chile and Long Valley gold project in Nevada, and to commission an independent resource estimate on the Lipena gold-copper project in Bolivia.

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

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

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