New World Resource Corp.
TSX VENTURE : NW

New World Resource Corp.

October 15, 2008 14:26 ET

New World Resource Corp. Announces Initial NI 43-101 Mineral Resources Estimate

Indicated Resources Estimate: 5.7 million tonnes of 1.67% Copper Equivalent (1.0% copper equivalent cut-off for underground resources and 0.4% cut-off for open pit resources) Inferred Resources Estimate: 4.8 million tonnes of 1.0% Copper Equivalent (1.0% copper equivalent cut-off for underground resources and 0.4% cut-off for open pit resources)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2008) - New World Resource Corp. ("New World" or the "Company") (TSX VENTURE:NW) is pleased to announce that it has received from GeoSim Services Inc. ("GeoSim") an initial National Instrument 43-101 ("NI 43-101") mineral resources estimate on the Company's Lipena copper-gold deposit in Bolivia.



Open Pit Resources Estimate
-----------------------------------------------------------------------
Indicated Inferred
----------------------------- ------------------------------
Tonnes Tonnes
greater greater
than or than or
Cut-off equal to Cu Au Ag CuEQ equal to Cu Au Ag CuEQ
%CuEQ Cutoff % g/t g/t % Cutoff % g/t g/t %
-----------------------------------------------------------------------
0.30 1,913,880 0.70 0.07 25.5 0.89 4,519,050 0.64 0.24 21.7 0.86
-----------------------------------------------------------------------
0.40 1,613,760 0.80 0.07 25.7 0.99 4,005,810 0.71 0.26 21.1 0.93
-----------------------------------------------------------------------
0.50 1,407,120 0.89 0.08 23.7 1.07 3,498,240 0.77 0.27 21.0 1.00
-----------------------------------------------------------------------

Underground Resources Estimate
-----------------------------------------------------------------------
Indicated Inferred
----------------------------- ------------------------------
Tonnes Tonnes
greater greater
than or than or
Cut-off equal to Cu Au Ag CuEQ equal to Cu Au Ag CuEQ
%CuEQ Cutoff % g/t g/t % Cutoff % g/t g/t %
-----------------------------------------------------------------------
0.50 7,020,840 0.96 1.15 11.1 1.43 5,846,070 0.51 0.60 8.7 0.77
-----------------------------------------------------------------------
0.75 5,143,860 1.14 1.45 13.0 1.72 2,190,030 0.66 0.88 10.1 1.03
-----------------------------------------------------------------------
1.00 4,088,520 1.27 1.68 14.3 1.94 832,140 0.84 1.13 13.1 1.31
-----------------------------------------------------------------------
1.25 3,247,200 1.41 1.86 15.6 2.15 371,460 0.97 1.43 15.4 1.56
-----------------------------------------------------------------------
1.50 2,553,480 1.56 2.01 16.9 2.36 196,800 1.08 1.64 15.6 1.75
-----------------------------------------------------------------------


Notes:

- The mineral resources were estimated by ordinary kriging constrained by a 3D solid model based on 0.20% copper equivalent grade shells. The grade shells are both within and outside of the quartz-tourmaline breccia zones and are used as hard boundaries to limit composite extraction, geostatistical analysis and block grade estimation. The block model was created with Surpac Vision software using a block size of 10x10x10 metres.

- Grade estimation was based on analyses of core samples from 26 diamond drill holes and 17 reverse circulation holes for a total of 11,403 metres completed between 1994-96 and 2006-07. The nominated composite length was set at three metres. The density values assigned to the major lithologies were based on 434 bulk density measurements of drill core.

- Solid models of the breccia zone were created from the sectional interpretations and downhole lithology using Leapfrog 3D software. Solid models for the lithic and crystal tuff were generated using only the downhole lithology. Surpac Vision software was used for block modeling and grade estimation.

- Copper equivalent is calculated as follows: %CuEQ (Copper equivalent) equals %Cu + g/t Au x 0.345 + g/t Ag x 0.0064, with Cu (copper) at $2.75/lb, Au (gold) at $650/oz, and Ag (silver) at $12/oz.

Company President John Lando stated, "The Company is very pleased with this initial NI 43-101 compliant resources estimate. It provides a solid foundation for further exploration and drilling, which we believe will add further value to this deposit. The Lipena deposit remains open in more than one direction and the regional land package that we secured through our joint venture with Corporacion Minera de Bolivia ("COMIBOL") allows us to continue the hunt for a porphyry system that is suspected to be the root of the known breccia mineralization at Lipena."

"While exploration work at the Lipena project is still at an early stage, and the project requires a substantial amount of additional drilling to delineate the extent of the mineralization, this initial resources estimate will provide the Company with useful base numbers, which can be built upon as additional exploration work is completed."

Readers are cautioned that mineral resources are not mineral reserves until positive economic viability has been demonstrated, through a feasibility study or pre-feasibility study. The estimate of mineral resources may be materially effected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimate are uncertain in nature and there has been insufficient exploration to define these inferred resources as indicated or measured mineral resources and it is uncertain if further exploration will result in upgrading them to an indicated or measured minerals resource category.

This independent, NI 43-101 compliant resources estimate was completed by "Qualified Person" Ron Simpson, P.Geo. of GeoSim. GeoSim has a solid reputation in the mining industry and has provided consulting services to many advanced exploration companies including Yamana Gold Inc., Novagold Resources Inc., and Viceroy Exploration Ltd. Mr. Simpson has reviewed and approved the contents of this press release. A NI 43-101 compliant technical report on the Lipena project will be available on SEDAR shortly.

This resources estimate does not reflect any results from the Company's exploration programs on the surrounding Bonete concession. The Company has a joint venture agreement with COMIBOL with respect to approximately 6,000 hectares of COMIBOL's Bonete mining concession, which encompasses the Lipena project. COMIBOL is the Bolivian government entity that controls all mineral exploration on state owned lands.

Quality Control and Assurance

The Company's drill core sample interval averaged 1.2 metres with one half of the core submitted for assay and the other half stored in the Company's secure field facility in southern Bolivia. Samples were crushed and split at ALS Chemex's preparation lab in Oruro, Bolivia. The pulps were then shipped to ALS Chemex in North Vancouver, Canada where they were analyzed for 41 elements by ICP mass spectrometer and atomic absorption methods. The intra-lab standards, blanks and replicates were augmented by unmarked blanks, replicates and by aliquots of four geological standards acquired by New World. Unmarked checks (standards, blanks and duplicates) were inserted into the numbered sample sequence, and represent approximately 5% of the total samples. Under the supervision of the project geologist, sample bags were sealed and stored, pending secured transport for analysis. Exploration work on the Lipena project is under the supervision of Joan McCorquodale, P.Geo, the Company's Vice President, Exploration, who is a "Qualified Person", as defined in NI 43-101.

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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