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| ||Wed Jun 27, 2007|
New World Closes Private Placement
| ||VANCOUVER, BRITISH COLUMBIA - New World Resource Corp. (the "Company") (TSX VENTURE:NW) has closed a non-brokered private placement of 175,000 flow-through units, at a price of $0.65 each, for proceeds of $113,750.|
Each unit consists of one flow-through share and one transferable non-flow-through warrant to purchase one non-flow-through share until June 25, 2008 at a price of $0.75. All of the securities are subject to a hold period, which will expire on October 26, 2007.
The flow-through funds raised 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. Shear Minerals holds a 58.2-per-cent interest in the Afridi project and is the operator. International Samuel has a 25.4-per-cent interest, and New World Resources and Mantle Resources each hold 8.2 per cent. 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
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
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