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| ||Mon Apr 23, 2012|
New World Announces Expiry of Letter of Intent for Proposed Sale of Lithium Assets to Li3 Energy, Inc.
| ||Vancouver, BC: New World Resource Corp. ("New World" or the "Company") announces that the letter of intent dated January 19, 2012 as amended March 4, 2012 with Li3 Energy, Ltd. ("Li3") related to the proposed sale of the Company's lithium assets to Li3 has expired due to the inability of the Company and Li3 to agree on the definitive terms of the transaction. The board of directors of New World has elected not to extend negotiations any further.|
The Company will continue to pursue and evaluate other means of commercializing the Company's lithium assets and management will continue to investigate strategic partnership opportunities to further develop the project and enhance the value of the Company's other lithium asset; a 18% interest in Perfect Lithium Corp., a privately held lithium technology company.
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/Bonete 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 Ian Mitchell 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. 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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