New Earth Resources Executes Option Agreement for Red Wine Rare Earth Project in Labrador
Vancouver, British Columbia, Nov. 21, 2025 (GLOBE NEWSWIRE) -- NEW EARTH RESOURCES CORP. (CSE: EATH) ("New Earth" or the "Company") is pleased to announce that it has executed an option agreement (the “Agreement”) dated as of November 19, 2025 with Northex Capital Partners Inc. (“Northex”) to acquire the Red Wine Rare Earth Project (the “Project”). The Project is comprised of 2 non-contiguous mineral claims located in Labrador, Canada covering approximately 1,575 hectares in total.
Located in the Central Mineral Belt (“CMB”) of Newfoundland and Labrador, the first claim covers approximately 1,425 hectares, approximately 110 km northeast of Churchill Falls and ~20 km east of the Orma Lake hydro access road, an all-weather route that connects to the Trans-Labrador Highway. The Project also consists of a secondary non-contiguous claim approximately 9 km to the northeast, covering an additional 150 hectares.
Under the Agreement, to acquire the Project the Company is obligated to issue an aggregate of 4,500,000 Class A common shares of the Company (each, a “Share”) to Northex, as follows: 1,250,000 Shares within 10 business days of execution of the Agreement; an additional 1,500,000 Shares on or before the first anniversary date of the Agreement; and an additional 1,750,000 Shares on or before the second anniversary date of the Agreement. Shares issued under the Agreement will be subject to a four month hold period in accordance with applicable securities laws. The Company will also grant Northex a 2.0% net smelter returns royalty on the Project. Northex is arm’s length to the Company.
About the Company
New Earth Resources Corp. is a Canadian-based mineral exploration company acquiring and developing advanced and early-stage exploration projects. Its flagship project is its 100% owned, past-producing Lucky Boy Uranium Property located in Gila County, Arizona, USA. Consisting of 14 Lode Claims, and spanning approximately 273 acres, the Lucky Boy Project covers a small open pit and underground workings that produced uranium in the 1950's, and again in the 1970's. In addition to Lucky Boy, included in the Company's uranium portfolio are three claims located in Saskatchewan, Canada covering 365 hectares.
The Company also has the option to acquire a 100% interest in 23 claims covering approximately 1,101 hectares in the Strange Lake area of Quebec, Canada, known as the "SL Project", which is prospective for rare earth elements.
For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at newearthresourcescorp@gmail.com.
On Behalf of the Board of Directors
"Lawrence Hay"
President and CEO
Tel: 778.317.8754
Email: newearthresourcescorp@gmail.com
Forward-Looking Information
Certain statements in this news 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 forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, 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 present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news 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 news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
The CSE has not reviewed, approved or disapproved the contents of this news release.
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