ANTLER COPPER PROJECT ACHIEVES CRITICAL FEDERAL PERMITTING MILESTONE

Federal Permit Application for the Antler Copper Project has received the Determination of NEPA Adequacy by the Bureau of Land Management, putting the

Project Antler on track to be fully permitted within 12 months.

Highlights

  • New World’s Federal Mine Plan of Operations (“MPO”) application for the Antler Copper Project has received the Determination of Adequacy under the National Environmental Policy Act (“NEPA”).
  • The Bureau of Land Management (“BLM”) has determined that the MPO will be evaluated under an Environmental Assessment, putting Antler on a 12 month timeline for full approval.
  • The MPO is the only Federal permit required for the Antler Copper Project.
  • Recent White House Executive Orders regarding critical minerals and prioritization of domestic production are expected to further expedite the permitting process.
  • Arizona State mine permits are expected to be progressively issued over the course of 2025, putting the Antler Copper Project on track to be fully permitted by early 2026.

New World’s Managing Director & CEO, Nick Woolrych, commented:

“We couldn’t be more pleased with the progress of our permitting process to date. Receiving the Determination of NEPA Adequacy and confirmation that our Mine Plan of Operations will be evaluated under an Environmental Assessment puts us on a clear 12 month path to achieving full Federal approval. With this being our only required Federal permit and Arizona State permits expected to be finalized throughout the course of 2025, we are on track to commence construction activities in H2 2025, be permitted for full operations by early 2026 and shipping concentrate by 2027.

“This achievement highlights the exceptional work of New World’s local team and consultants and underscores the supportive approach of the BLM field o ice in Kingman, Arizona.

“Beyond permitting, we remain fully committed to industry best practices in mine design, water management, and responsible resource development at the Antler Copper Project. Our development approach prioritizes sustainable water use, environmental stewardship, and meaningful engagement with local communities and Tribal partners to ensure shared benefits.

“Our funding strategy is also well advanced with exceptionally high-quality counterparties contemplating partnering with New World on the development of Antler via precious metals streaming, strategic project investment and/or project financing commitments. Coupled with strong local, State and Federal support for critical minerals and streamlined permitting pathways, the momentum behind the Antler Copper Project has never been stronger.”

Mine Plan of Operations Overview

New World Resources (ASX: NWC; “New World” or the “Company”) is pleased to announce that the Mine Plan of Operations (“MPO”) application submitted to the U.S. Department of the Interior’s Bureau of Land Management (“BLM”) on 25 January 2024 has received the Determination of NEPA Adequacy, representing another critical step in the approvals process to develop the Antler Copper Project in northern Arizona, USA.

The MPO is the only Federal permit required to develop the Antler Copper Project. The BLM now requires an Environmental Assessment (“EA”) to be completed as part of the Federal permitting process. The EA will evaluate the potential environmental, cultural and social impacts of proposed mining activities. The EA will be conducted under the National Environmental Policy Act (“NEPA”) to ensure that the Project aligns with Federal environmental standards. It will include a comprehensive analysis of the Project’s scope, including mining techniques, land disturbance, water usage and waste management plans, while also assessing potential impacts on wildlife, vegetation, cultural sites, and nearby communities.

In accordance with the Council on Environmental Quality, adjudication of the MPO is limited to 1 year for an EA. The expectation of approval for the MPO in early 2026 coincides with Arizona mine permits, which are expected to be progressively issued over the course of 2025 following receipt of completeness determinations in late 2024, meaning that the Anter Copper Project is on track to be fully permitted by Q1 2026.

The political landscape in the U.S. is increasingly favourable for development of copper (and other critical mineral) mines, with strong momentum behind permitting reform and domestic mineral production. Recent White House Executive Orders from the Trump Administration have reinforced the prioritization of critical minerals, emphasizing streamlined and efficient permitting processes to accelerate domestic resource development. These pro-mining policies are creating a more predictable and supportive regulatory environment, positioning the U.S. as a prime jurisdiction for new copper projects.

Antler is well advanced in securing all major State permits and authorizations required for operations, including an Aquifer Protection Permit (from the ADEQ), Air Quality Permit (ADEQ), and a Mined Land Reclamation Plan (Arizona State Mine Inspector) all of which are currently under assessment and expected to be approved over the course of 2025.

The permitting process is continuing in parallel with other key programs including a Definitive Feasibility Study, financing process and local and regional exploration to further de-risk and enhance the highly robust, stand- alone development credentials of the Antler Copper Project as outlined in the Pre-Feasibility Study (“PFS”) released in July 2024.

Antler Copper Project – Project Summary

The high-grade Antler Copper Project is located in a sparsely populated part of northern Arizona, approximately 200km south-east of Las Vegas and 350km north-west of Phoenix. New World currently bases its operations 40km to the north of the Project, in the city of Kingman, which has a population of approximately 35,000. The area is very well serviced with large scale infrastructure and there are multiple mining operations in the region.

The Pre-Feasibility Study released in July 2024 evaluated the development of an underground mining operation, together with construction of a processing plant, pastefill plant, a fully-lined dry-stack tailings storage facility and associated infrastructure. The JORC Mineral Resource Estimate (MRE) for the Antler Deposit currently comprises: 11.4Mt @ 2.1% Cu, 5.0% Zn, 0.9% Pb, 32.9g/t Ag and 0.36g/t Au (11.4Mt @ 4.1% Cu-equivalent). This makes the Antler Deposit one of the highest-grade copper deposits in the world (on a copper-equivalent basis).

The key outcomes of the PFS are summarised in Table 1.

Table 1 Key Outcomes of the PFS into the development of the Antler Copper Project.

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