New World Resources Ltd.

New World Resources Ltd. is a junior copper development company headquartered in Subiaco, Australia, operating primarily in USA. The company's portfolio consists of 3 projects, comprising 1 development and 2 advanced exploration projects. Key assets include Antler. The business model centers on the exploration and development of high-grade, polymetallic, volcanogenic massive-sulphide deposits. The operational approach involves advancing assets from exploration through comprehensive technical studies toward near-term production. A key operational characteristic is the commitment to underground mining methods, specifically sub-level open stoping with paste backfill, designed to minimize surface disturbance and environmental impact. Processing capabilities are based on a conventional flotation flowsheet engineered to recover and separate multiple valuable metals into distinct, marketable concentrates. This technical approach was validated through extensive metallurgical test work on representative composite samples. The operational plan includes synergies such as utilizing tailings from the processing plant to create paste backfill for the underground operations. Competitive positioning is enhanced by access to existing infrastructure, including grid power, water sources, and transportation networks, which reduces technical risk and development timelines. The company's strategy also involves exploring for satellite deposits within trucking distance of its planned central processing facility, creating potential for an expanded production profile or extended operational life.

Strategic priorities focus on a dual-track approach of de-risking the primary development asset while concurrently pursuing resource expansion through aggressive exploration. A key objective is advancing the principal asset through a Definitive Feasibility Study to refine technical parameters, optimize mine planning, and support a final investment decision. This includes further metallurgical test work, detailed engineering, and the development of a comprehensive project execution plan. A critical component of the strategy involves securing project financing, anticipated to be a combination of equity, debt instruments, and potential co-product streaming arrangements. The organization is actively progressing its mine permitting strategy, having submitted a Mine Plan of Operations and an Air Quality Control Permit application, with further submissions planned to achieve progressive approvals. The exploration strategy is designed to expand the resource base by testing for extensions of known mineralization at depth and along strike, as well as exploring for new satellite deposits. This involves systematic drill-testing of high-priority targets identified through geological mapping, soil geochemistry, and geophysical surveys within the company's extensive land holdings.

The board of directors consists of 4 members, including a Non-Executive Chairman, a Managing Director, and 2 Non-Executive Directors. Executive leadership is spearheaded by a Managing Director who is a mining engineer with over 20 years of experience in financing, operations, contracting, and project development, including bringing underground mines into production. The Non-Executive Chairman is a geologist and solicitor with over 25 years of industry experience, having served as a director for several successful listed companies. The board's expertise is further strengthened by a Non-Executive Director with over 25 years in international resource exploration and project generation, and another Non-Executive Director with a metallurgy degree and over 40 years of global experience in various mining disciplines. A recent leadership transition saw the Chief Operating Officer promoted to Managing Director, aligning the executive skill set with the company's shift toward project development and operations. The remuneration philosophy links executive rewards to shareholder value creation through a mix of fixed remuneration, short-term cash incentives based on performance targets, and long-term incentives in the form of options and performance rights.

The organization's environmental approach prioritizes minimizing surface impact through an exclusive commitment to underground mining methods for its main development project. A key environmental stewardship initiative is the planned construction of a fully-lined, dewatered dry-stack tailings storage facility, designed to meet the highest regulatory standards for secure, long-term waste confinement. Water management practices involve sourcing water from a dedicated well field on private land and pumping it to the site via a pipeline, with sustainable flow rates confirmed through testing. The company has developed a detailed community and tribal engagement plan with objectives to foster open communication, build trust, and establish strong, transparent relationships. This plan includes proactive dialogue regarding project effects, reclamation plans, and potential impacts, while respecting areas of cultural significance. The enterprise also acknowledges and manages climate-related risks, considering potential impacts from new regulations associated with a lower-carbon economy and physical environmental risks from changing weather patterns. All operations are subject to environmental regulations under federal and state legislation, with established procedures to ensure compliance.

The corporate structure includes several wholly-owned subsidiaries to manage its North American activities. In November 2023, the company executed a significant royalty sale agreement with Trident Royalties Plc, creating a 0.9% Net Smelter Return royalty on future production from its primary development asset and a 0.45% royalty on an area of interest, with the company retaining specific buy-back rights for a portion of each royalty. A strategic financing in August 2023 involved a placement to RCF Opportunities Fund II L.P., a fund managed by a US-based private equity firm, which also included the issuance of unlisted options. The company has entered into several option agreements to secure its land position, including a 5-year option to acquire a 100% interest in the high-grade Pinafore deposit, which involves annual payments and a final purchase price plus a retained royalty for the vendor. Another agreement provides a 12-year option to acquire the Jones Hill deposit, structured with annual payments, a final purchase payment, and deferred payments contingent on the commencement of commercial production.