New World Resources : Outstanding Wide Intercepts in Deepest Hole at Antler

		OUTSTANDING WIDE INTERCEPTS IN DEEPEST HOLE EVER
		DRILLED AT THE ANTLER COPPER PROJECT
		>43 metres# of high-grade mineralisation in deepest hole to date highlights
		substantial potential to increase the recently announced Mineral Resource
Highlights
only	Excellent assay results received from the deepest hole ever drilled at the Antler Copper
	Deposit in Arizona, USA.
	A combined total of 43.5m of mineralisation was intersected in three intervals in drill-hole
	ANT70#, comprising:
	•	12.7m# @ 0.6% Cu, 1.7% Zn, 1.2% Pb, 56.3 g/t Ag and 1.24 g/t Au from 869.0m
use•	(12.7m# @ 2.0% Cu-equivalent*);
25.5m# @ 1.8% Cu, 1.8% Zn, 1.0% Pb, 42.9 g/t Ag and 0.46 g/t Au from 885.0m
personal		(25.4m# @ 2.6% Cu-equivalent*); and
•	5.3m# @ 1.2% Cu, 4.0% Zn, 0.3% Pb, 11.6 g/t Ag and 0.13 g/t Au from 914.6m
		(5.3m# @ 2.4% Cu-equivalent*).
	ANT70, which was drilled to test the down-dip extension of the "Main Shoot", has:
	•	Intersected mineralisation approximately 60m down-dip from New World's previous
		deepest hole (ANT53);
	• Intersected the thickest interval of mineralisation ever reported from the Project;
	•	Intersected the Antler Deposit approximately 575m vertically below surface;
	•	Proven that the down-dip extent of the Antler Deposit, which outcrops at surface, is
		>680m.
	Mineralisation as thick as that intersected in ANT70 was notincluded in the recent maiden
	JORC Mineral Resource estimate. So, when the Resource is updated, considerable
	additional tonnes will be attributed to this area.
	Mineralisation remains completely open at depth hence there is considerable potential to
For	rapidly add to the resource base.
Three rigs continue to drill at Antler to further expand the Resource, with assays pending for
•
	17 completed drill holes.

#True thicknesses in ANT70 are interpreted to be approximately 75% of the down-hole thicknesses that are reported here.

*Refer to the detailed explanation of the assumptions and pricing underpinning the copper equivalent calculations on page 5 of this announcement and in Section 2 of the attached JORC Code Table (Appendix 1).

New World's Managing Director, Mike Haynes, said:

"The standout assay results from ANT70 provide further strong evidence confirming what we have been interpreting for quite a while - that the Antler Deposit is improving with depth. Intersecting the thickest mineralisation ever reported some 60m down-dip from our previous deepest hole, is a fantastic achievement by our US-based team.

"These results are expected to add more tonnes to an, already, very impressive maiden JORC Resource at Antler - hence the economics of developing the Project are likely to be even better."

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ASX RELEASE

30 NOVEMBER 2021

New World Resources

Limited

ABN: 23 108 456 444

ASX Code: NWC

DIRECTORS AND

OFFICERS:

Richard Hill

Chairman

Mike Haynes

Managing Director/CEO

Tony Polglase

Non-Executive Director

Ian Cunningham

Company Secretary

CAPITAL STRUCTURE: Shares: 1,586.9m Share Price (29/11/21): $0.073

PROJECTS:

Antler Copper Project,

Arizona, USA

Tererro Copper-Gold-

Zinc Project, New

Mexico, USA

Colson Cobalt-Copper

Project, Idaho, USA

Black Pine Cobalt-

Copper-Gold Project,

Idaho, USA

Panther Creek

Cobalt-Copper Project,

Idaho, USA

CONTACT DETAILS:

1/100 Railway Road, Subiaco, WA Australia 6008

Ph: [phone] [e-mail] www.newworldres.com

New World Resources Limited ("NWC", "New World" or the "Company") is pleased to report exceptional assay results from the deepest hole ever drilled at its 100%-owned Antler Copper Deposit in Arizona, USA, demonstrating significant potential for growth of the recently announced JORC Mineral Resource estimate.

The results, from hole ANT70 targeting down-dip extensions of the Main Shoot, together with results from two onlyadditional holes targeting southern extensions of the deposit, ANT71 and ANT72, are reported in this announcement

(see Tables 1 and 2).

Assay results from the Main Shoot at the Antler Deposit

ANT70, which is the deepest hole ever drilled at the Antler Deposit, intersected three thick intervals of mineralisation in the "Main Shoot", having a combined thickness of 43.5m, over a 50.6m interval (down-hole) which included 3.3m and 3.9m thick intervals of unmineralised "waste" between the three mineralised intervals.

Assay results show the intervals intersected comprised:

•	12.7m# @ 0.6% Cu, 1.7% Zn, 1.2% Pb, 56.3 g/t Ag and 1.24 g/t Au from 869.0m
	(12.7m# @ 2.0% Cu-equivalent*);
•	25.5m# @ 1.8% Cu, 1.8% Zn, 1.0% Pb, 42.9 g/t Ag and 0.46 g/t Au from 885.0m
use•	(25.4m# @ 2.6% Cu-equivalent*); and
5.3m# @ 1.2% Cu, 4.0% Zn, 0.3% Pb, 11.6 g/t Ag and 0.13 g/t Au from 914.6m
	(5.3m# @ 2.4% Cu-equivalent*)

The outstanding intercepts in ANT70 are located approximately 60m down-dip from the mineralisation intersected in the Company's previous deepest drill hole, ANT53, which itself intersected (previously reported to the ASX on 20 May 2021):

• 14.3m @ 2.3% Cu, 6.8% Zn, 0.3% Pb, 22.4g/t Ag and 0.28g/t Au from 614.0m

personalThe mineralisation intersected in ANT70 lies about 575m vertically below the surface. Because the Antler Deposit dips at about 60ᵒ to the north-west, this equates to having defined mineralisation continuously, from surface, down-dip to a depth of more than 680m.

(14.3m @ 3.8% Cu-equivalent*)and

5.0m @ 2.2% Cu, 2.9% Zn, 0.1% Pb, 10.8g/t Ag and 0.27g/t Au from 639.3m (5.0m @ 2.7% Cu-equivalent*)

Mineralisation as thick as that intersected in ANT70 was notincorporated into the recent maiden JORC Mineral Resource. As a result, when the Resource estimate is updated, considerable additional tonnes will be attributed to this area.

The 43.3m of mineralisation is the thickest interval of mineralisation ever reported from the Antler Project. With Formineralisation remaining completely open at depth over the entire 500m of strike that has been drill-tested to date,

this bodes well for further expanding the resource base with additional drilling.

Assay results from the Southern End of the Antler Deposit

The Company has also received assay results from drill holes ANT71 and ANT72, which were both drilled to evaluate the strong controlled-sourceaudio-frequencymagneto-telluric ("CSAMT") ground geophysics anomaly that has been delineated at the southern end of the Antler Deposit. Narrow intervals of high-grade mineralisation were intersected in both holes, with assays comprising:

• 1.5m @ 1.0% Cu, 12.9% Zn, 1.6% Pb, 25.3 g/t Ag and 0.09 g/t Au from 418.81m (1.5m @ 5.2% Cu equivalent)in ANT71, and
• 0.9m @ 1.5% Cu, 9.1% Zn, 1.8% Pb, 26.5 g/t Ag and 0.06 g/t Au from 415.96m (0.9m @ 4.4% Cu equivalent)in ANT72

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Both ANT71 and ANT72 deviated considerably from their targeted positions. Notwithstanding this, it is encouraging that high-grade mineralisation was intersected in both holes.

Further drilling is continuing to test for thicker intervals of the high-grade mineralisation associated with the sizeable CSAMT anomaly (see NWC ASX Announcement dated 20 April 2021). onlyuse

For personal

Figure 1. Long Section through the Antler Deposit showing the location of the Company's drill-holes (gold and green colours), with historical

underground workings, historical drilling and select significant intersections in previous drilling (white text boxes).

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use only
personal
Figure 2. Long Section of grade x thickness for copper equivalent results from the Antler Deposit showing historical underground workings,
	grade-thickness results for all surface drilling and select significant intersections in previous drilling (yellow text boxes for previously
	announced results and green text boxes for new results announced here).

Ongoing Drilling Program

Three drilling rigs continue to operate at the Antler Project. The primary objective of the ongoing drilling program is to expand the resource base beyond the maiden JORC Mineral Resource estimate that was announced earlier this m nth, which, at a 1.0% Cu-equivalentcut-off, comprises:

For (7.7Mt @ 3.9% Cu-equivalent*)

Assays are currently pending for a further 17 completed holes.

7.7Mt @ 2.2% Cu, 5.3% Zn, 0.9% Pb, 28.8g/t Ag and 0.18g/t Au

Assay turnaround time has slowed considerably over recent months - with recent results becoming available more than three months after they were submitted to the laboratory. Fortunately, the mineralisation at the Antler Deposit is readily identifiable in drill core, which means that the slow assay turnaround time has negligible impact on planning new holes in the ongoing drilling program.

New World Resources Limited I ASX: NWC I Page 4

the Mineral Resource Estimate for the Antler Copper Deposit), which was previously announced on 5 November 2021; and

exploration results which were previously announced on 14 January, 9 and 20 March, 17 and 24 April, 12 May, 3 June, 7, 21 and 28 July, 3 and 31 August, 22 September, 22 October and 2 and 10 and 25 November 2020 and 18 January and 2, 12 and 19 March and 8 and 20 April, 20 May, 21 June, 15 and 29 July, 16 August, 22 September, 13 October and 5 November 2021.

Authorised for release by Michael Haynes, Managing Director

For further information please contact:

Mike Haynes onlyManaging Director/CEO

New World Resources Limited Phone: [phone]

Email:[e-mail]

Additional Information

Media Inquiries:

Nicholas Read - Read Corporate Phone: [phone]

Email:[e-mail]

Qualified and Competent Person

useThe information in this announcement that relates to exploration results and exploration targets is based, and fairly reflects, information compiled by Mr Patrick Siglin, who is the Company's Exploration Manager. Mr Siglin is a Registered Member of the Society for Mining, Metallurgy and Exploration. Mr Siglin has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results and Mineral Resources (JORC Code). Mr Siglin consents to the inclusion in the announcement of the matters based on the information in the form and context in which it appears.

Previously Reported Results

There is information in this announcement relating to:

personal(i)

(ii)

Other than as disclosed in those announcements, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not materially changed. The Company also confirms that the form and context in which the Competent Person's findings are presented have n t been materially modified from the original market announcements.

Forward Looking Statements

Any forward-looking information contained in this report is based on numerous assumptions and is subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.

Copper Equivalent Calculations

Copper equivalent grades for the Mineral Resource Estimate reported in this announcement have been based on the following assumed metal prices that closely reflect the spot prices prevailing on 26 November 2021; namely: copper - US$9,891/t, zinc - US$3,395/t, lead - US$2,307/t, silver - US$23.65/oz and gold - US$1,790/oz.

ForPotential metallurgical recoveries have been included in the calculation of copper equivalent grades. These recoveries have been based on metallurgical testwork that New World has conducted over the past 10 months. This metallurgical testwork is continuing, but recoveries are estimated to be in the order of: copper - 87.2%, zinc - 88.9%, lead - 59.1%, silver - 50.3% and gold - 70.0%. New World believes that all elements included in the metal equivalent calculation have a reasonable potential to be recovered and sold.

The following formula was used to calculate the copper equivalent grade, with results rounded to one decimal point:

* Cu equiv. (%) = (Cu% x 0.872) + (Zn% x 0.889 x 3,395/9,891) + (Pb% x 0.591 x 2,307/9,891) + (Ag oz/t x 0.503 x 23.65/9,891 x 100) + (Au oz/t x 0.700 x 1,790/9,891 x 100)

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