Wed Nov 27, 2013 New World Announces the Completion of the Lipeña Option Agreement with Project Partner, MARTE
Vancouver, BC: New World Resource Corp. ("New World" or the "Company") announces the completion of an amended option agreement (reported October 11, 2012) with Empresa Minera Marte S.R.L. ("MARTE"), whereby MARTE has earned 20% interest in the Lipeña copper-gold project ("Lipeña") in Southern Bolivia.
Under the terms of the agreement, MARTE earned an additional 20% interest by spending US$1,250,000 in mineral exploration expenditures on the Lipeña copper-gold project. These funds were used to construct underground adits at Lipeña to establish access into a known structure to obtain samples for metallurgical testing and bulk samples. MARTE intersected a shear zone averaging 10.5 metres in thickness and a composite sample across the zone returned values of 150 grams per tonne silver, 4.2% copper, 2.1% zinc, 0.5% lead and 0.8% antimony (reported October 30, 2013).
Completion of this transaction results in MARTE holding 62.4% and New World holding a 37.6% interest in Lipeña. Further exploration work will be borne by each New World and MARTE on a pro rata basis.
New World also announces that the Letter of Intent between the Company and Sociedad Contractual Minera in relation to the El Tesoro copper-gold project (reported February 25, 2013) has expired and the Company has elected not to extend negotiations any further.
Exploration work for the Company on the Lipeña project is under the supervision of Brian McEwen, P.Geol., the Company's Chief Operating Officer, who is a "qualified person", as defined in NI 43 101, and 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. The Company's active projects include the Lipeña/Bonete copper-gold project and the Agua Grande gold-copper project in Chile.
NEW WORLD RESOURCE CORP.
John Lando, President
For information with respect to the Company or the contents of this news release, please contact John Lando or Ian Mitchell at (604) 669-2701 or toll free at 1-800-663-0510, email at , or visit the web site at www.newworldresource.com.
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 completion of the proposed transaction. 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.
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