New World Resource Corp.
TSX VENTURE : NW
FRANKFURT : NWU

New World Resource Corp.

March 14, 2011 09:15 ET

New World Closes First Tranches of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

New World Resource Corp. (TSX VENTURE:NW)(FRANKFURT:NWU) (the "Company") is pleased to announce the closing of the first two tranches of its previously announced non-brokered private placement. Gross proceeds of $2,560,800 were raised in the first two tranches.

In the first tranche of the private placement, the Company has issued 2,320,000 Units (the "Units") at $0.40 per Unit to institutional and private investors. Each Unit consists of one common share of the Company and one-half of one share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to purchase one additional common share of the Company at an exercise price of $0.60 until March 4, 2012.

In the second tranche of the private placement, the Company has issued 4,082,000 Units (the "Units") at $0.40 per Unit to institutional and private investors. Each Unit consists of one common share of the Company and one-half of one share purchase warrant. Each whole warrant (a "Warrant") entitles the holder to purchase one additional common share of the Company at an exercise price of $0.60 until March 11, 2012.

In connection with the first tranche of the private placement, the Company paid finders' fees of $18,240, issued 72,600 finders' Units, with the same terms and conditions as the Units issued under the private placement, and issued 157,600 non-transferable share purchase warrants ("Finders' Warrants") to Axemen Resource Capital Ltd., Mackie Research Capital and Raymond James Ltd. Each Finders' Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.50 expiring on March 4, 2012.

In connection with the second tranche of the private placement, the Company paid finders' fees of $28,772.40, issued 172,989 finders' Units, with the same terms and conditions as the Units issued under the private placement, and issued 326,560 non-transferable share purchase warrants ("Finders' Warrants") to Canaccord Genuity Corp. Each Finders' Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.50 expiring on March 11, 2012.

The Units, in the first tranche, are subject to a 4-month hold period expiring July 5, 2011. The Units, in the second tranche, are subject to a 4-month hold period expiring July 12, 2011.

It is anticipated that a third tranche of this private placement will close shortly.

The proceeds of the private placement will be used to fund a drill program to increase the current 43-101 compliant resource on the Company's Lipeña copper-gold project (the 43-101 resource estimate report can be seen on the Company's website; http://www.newworldresource.com/i/pdf/NW_Lipena_43101_112508.pdf), for further resource definition on the Company's Pastos Grandes lithium-potash brine project and for general working capital.

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 Lipeña copper gold project and the Pastos Grandes lithium brine project in Bolivia, and the recently joint-ventured Long Valley gold project in Nevada.

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 use of proceeds of this financing, 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 misjudgements 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 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 release.

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