New World Resources Limited announced that following seven months as a Non-Executive Director, highly experienced mining executive Nick Woolrych has agreed to transition to a full-time role as an Executive Director and the Company's Chief Operating Officer, effective immediately. An accomplished mining engineer, Nick has more than 20 years' experience in the natural resources industry. He has significant financing, operational, contracting and project development experience in Australia and internationally.

Nick is passionate about developing and operating sustainable mining projects, driving a culture of safety and achieving operational excellence as well as delivering superior outcomes for shareholders. When employed most recently as CEO of PYBAR Mining Services, Nick was responsible for the overall operational, strategic and financial direction of Australia's third larger underground mining services provider with a workforce of more than 1,000 people operating at 9 underground mining projects around Australia. Prior to that, as CEO of Diversified Minerals, Nick was instrumental in the acquisition, financing and development and ultimate divestment of the underground Dargues Gold Mine in New South Wales and the Henty underground gold mine in Tasmania.

Since his appointment as a Non-Executive Director in December 2022, Nick has been integral in New World's mine study and mine development work, including overseeing preparation of the Updated Scoping Study into the potential development of the Antler Copper Deposit that was announced, with very positive results, in May 2023. Effective immediately, Nick will work with New World on a full-time basis as an Executive Director and Chief Operating Officer, to: Help finalise preparation of a Mine Plan of Operations (MPO) ­ the key document required to commence the longest lead-time mine permit approval process for Antler; Help with preparation of all other applications for permits required for mine development; Manage the ongoing Pre-Feasibility Study (PFS) into the development of the Antler Project; and Continue to help expand New World's operational team. New World's Managing Director, Mike Haynes, will continue in his current role.