Gold World Resources to Complete $2.0 Million Private Placement

TORONTO, Oct. 27 /CNW/ - Gold World Resources Inc. (GDW-TSX Venture) ("GWR" or the "Company") is pleased to announce that further to our press release dated October 8, 2010 the Company continues to pursue completion of a non-brokered private placement of up to 40,000,000 Units at a price of $0.05 per Unit for gross proceeds of up to $2,000,000, with each Unit consisting of one common share and one-half of one warrant to purchase a common share of the Company. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.10 per share for a period of 12 months from the closing of the offering. Completion of the offering is subject to TSX Venture Exchange approval and all securities issued under the offering will be subject to a four-month statutory hold period.

The proceeds of the private placement will be used to advance gold exploration and development of the Jin Yin Dong ("JYD") Gold Mine, Guizhou Province, China and for working capital purposes.

About Gold World Resources Inc.:
The acquisition of the JYD Gold Mine and exploration property is in line with GWR's vision and objective to become a gold producer by putting a gold mine on the Company's balance sheet, positioning the Company for growth, and increase shareholder value.

To ensure the success of this development, the Company engaged Mr. Robert Osborne to act as Consultant Vice-President - Chinese Gold Mines (see press release September 28, 2010).

ON BEHALF OF THE BOARD

"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.

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For further information:

Hermann Derbuch, P.Eng.
Tel.: [phone] Fax: [phone]