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| ||Thu Apr 22, 2010|
New World Invited To Join Bolivian Government's Lithium Scientific Advisory Board
| ||Vancouver, BC: New World Resource Corp. ("New World" or the "Company") wishes to provide an update with regards to recent discussions with the Bolivian Government. On a recent trip and subsequent follow up, Company management with assistance from the Ambassador and Senior Trade Commissioner of the Government of Canada, has had a number of discussions and correspondences with the Bolivian Government. New World has been clearly informed that pre existing rights would be respected within the new mining law.|
The Government of Bolivia is currently in the process of establishing a new mining law with a final draft anticipated before the end of May. Bolivia's Mining Ministry (the "Ministry") is consulting with interested parties including foreign companies in drafting the new mining law. The Ministry will be providing foreign companies operating in Bolivia's mining sector, including New World along with the Ambassador and Senior Trade Commissioner of the Government of Canada an opportunity to comment and give input in regards to the new law before it is finalized. Although no new law has been established, New World has been advised that pre existing rights would be respected within the new mining law.
After discussing with the Ministry the agreements signed between the Company and the local municipality near Pastos Grandes, and a subsequent presentation of the preliminary brine chemistry results from Pastos Grandes, the Company was invited to join the Bolivian Government's Scientific Support Committee ("Advisory Committee") that has been set up within the evaporates division of Corporacion Minera de Bolivia ("Comibol"). This Advisory Committee is designed to assist the Bolivian Government in its plan to develop a pilot plant at the Salar de Uyuni, Bolivia's largest lithium resource which is currently part of the country's strategic fiscal reserve. New World's Pastos Grandes project is located outside of this strategic fiscal reserve.
John Lando comments, "The warm reception that we received from the Mining Ministry of Bolivia is encouraging. Although a new mining law is not yet finalized, at the senior level of the ministry we were clearly assured that pre-existing rights will be respected under the new law. This assurance along with the invitation to join the country's Scientific Advisory Committee gives us confidence that we will be able to further develop Pastos Grandes and the Company's Lipeña copper-gold project."
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.
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, 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 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 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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