Gold World Resources Announces Closing of $1,400,000 Financing

TORONTO, May 26, 2011 /CNW/ - Gold World Resources Inc. (TSXV:GDW) or ("the "Company") is pleased to announce the successful completion of the previously announced private placement (the "Offering") for gross proceeds of $1,400,000.

The placement consisted of Units consisting of one common share with a ½ warrant attached, priced at $0.05 per Unit (8.9 million Units) and Flow-through ("FT") shares priced at $0.07 per FT share (9.8 million shares). Each whole common share purchase warrant entitles the holder thereof to acquire one additional common share of Gold World Resources Inc. until May 24, 2012 at an exercise price of $0.10 per share.

The gross proceeds from the sale of the FT-shares will be used for exploration and development of the Mount Anderson Yukon gold/silver, polymetallic Project. The expenditures will qualify as "Canadian exploration expenses" (CEE) under the Income Tax Act (Canada) and will be renounced to Investors for the 2011 taxation year. The net proceeds from the private placement are primarily designated for the exploration program and for general working capital purposes.

The securities issued are subject to a hold period of 4 months in accordance with the rules and policies of the TSX Venture Exchange. There is a finders' fee payable on a portion of the Units and part of FT portion of the placement.  The Offering remains subject to the final approval of the TSX Venture Exchange.

About the Company:
The Company is a gold and precious metals exploration company with a current focus on the Mount Anderson Yukon gold/silver, polymetallic project.

"Hermann Derbuch",    
Chairman & CEO           
Gold World Resources Inc.          

Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Securities Act (Alberta), including statements concerning Gold World Resources' plans for the Property, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Gold World Resources, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Gold World Resources Inc.

For further information:

Hermann Derbuch, P.Eng.
Tel.: 416.594.9888   Fax: 416.594.1967

Profil de l'entreprise

Gold World Resources Inc.

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