Vancouver, British Columbia, November 21, 2025 (GLOBE NEWSWIRE) — NEW LAND RESOURCES CORP. (CSE:EATH) (“New Earth” or “Company“) is pleased to announce the conclusion of an option agreement (“Agreement“) dated November 19, 2025 with Northex Capital Partners Inc. (“Northex“) to purchase the Red Wine Rare Earth Project (“ProjectThe project consists of two non-contiguous mineral properties located in Labrador, Canada, totaling approximately 1,575 hectares.
The first application, located in the Central Mineral Belt (“CMB”) of Newfoundland and Labrador, covers approximately 1,425 hectares, approximately 110 km northeast of Churchill Falls and approximately 20 km east of the Lake Orme Hydro access road, an all-weather route that connects to the Trans-Labrador Highway. The project also consists of a secondary non-contiguous site located approximately 9 km to the northeast and covering an additional 150 hectares.
Pursuant to the Agreement, in order to acquire the Project, the Company is obligated to issue a total of 4,500,000 shares of Class A common stock of the Company (each, “Share» in favor of Northex, namely: 1,250,000 Shares within 10 business days from the date of conclusion of the Agreement; an additional 1,500,000 Shares no later than the first anniversary of the Agreement; and an additional 1,750,000 Shares no later than the second anniversary of the Agreement. Shares issued under the Agreement will be subject to a four-month holding period in accordance with applicable securities laws. The Company will also provide Northex The smelter's net profit of 2.0% on the project is at arm's length from the Company.
About the company
New Earth Resources Corp. is a Canadian mineral exploration company that acquires and develops advanced and early stage exploration projects. Its flagship project is its 100% owned Lucky Boy Uranium Property, located in Gila County, Arizona, USA. The Lucky Boy Project, consisting of 14 Lode Claims and covering approximately 273 acres, encompasses a small open pit and underground mine that mined uranium in the 1950s and again in the 1970s. In addition to Lucky Boy, the company's uranium portfolio includes three mines located in Saskatchewan, Canada, covering an area of 365 hectares.
The Company also has an option to acquire a 100% interest in 23 properties covering approximately 1,101 hectares in the Strange Lake region of Quebec, Canada, known as the “SL Project”, which are prospective for rare earth elements.
For more information, please refer to the Company's disclosure report on SEDAR+ (www.sedarplus.ca) or contact the Company by email: [email protected].
On behalf of the Board of Directors
“Lawrence Hay”
President and CEO
Tel: 778.317.8754.
E-mail: [email protected]
Forward-looking information
Certain statements in this press release are forward-looking statements, including with respect to future plans and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking statements such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations thereof. The reader is cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances could cause actual results to differ materially from those projected as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, including, but not limited to, business, economic and capital market conditions, the ability to manage operating expenses and dependence on key personnel. Such statements and information are based on numerous assumptions regarding the Company's current and future business strategies and the environment in which the Company will operate in the future, expected costs and ability to achieve objectives. Factors that could cause actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, legal proceedings, the failure of counterparties to perform their contractual obligations, the loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CSE has not reviewed, approved or disapproved of the contents of this press release.
