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| ||Fri May 18, 2007|
New World Private Placement to Fund Afridi Lake Exploration
| ||Vancouver, B.C. - New World Resource Corp. (the "Company") has received commitments for the private placement of 175,000 flow-through units of the Company at a price of $0.65 each, for proceeds of up to $113,750.|
Each unit will consist of one flow-through common share and a transferable warrant to purchase one non-flow-through common share for a period of 12 months from closing at a price of $0.75.
No commission or fees will be paid in connection with this financing. The financing is subject to receipt of all necessary regulatory approvals.
The flow-through funds raised from the private placement will be used to fund the Company's exploration commitments under its joint venture with Shear Minerals Ltd., and others, on the Afridi Lake diamond claims, in the Northwest Territories. These expenditures will constitute Canadian exploration expenses (as defined in the Canada Income Tax Act) and will be renounced for the 2007 (and, if required, 2008) income tax year.
About New World
New World Resource Corp. is a Canadian mineral exploration company focused on building a strong, diversified project portfolio within the Americas.
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 Don Flahiff at (604) 669-2701 or toll free at 1-800-663-0510, email at firstname.lastname@example.org. Visit the Company's website at www.newworldresource.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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