These capital and operating cost estimates summarized above have been prepared to an appropriate standard for the type of estimate that has been undertaken and are acceptable, reasonable and valid for the time that they were undertaken.

Mine Life
The Preliminary Assessment estimate is 15 months.

Risks
14 December, 2005

NEWS RELEASE

Vancouver - December 14, 2005 New Guinea Gold Corporation ( the "Company") announces that due to market conditions for its' stock, the Company is not proceeding with the Private Placement which was announced in a news release dated November 15, 2005.

ON BEHALF OF THE BOARD



"R.D. McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (84K)

05 December, 2005

NEWS RELEASE

Vancouver - December 5, 2005 New Guinea Gold Corporation (the "Company or NGG") is pleased to announce the appointment of Mr. Ces E. Iewago as a Director of the Company.

Mr. Iewago, 44, is an accountant by profession whose expertise is in investment Banking and Finance, having served in senior executive roles of major financial institutions in Papua New Guinea ("PNG") over the last decade.

Ces was formerly a Managing Director of Public Officers Superannuation Fund, the largest Superannuation fund in PNG from September 2000 to early 2004. He was previously resident Director and General Manager of Investment Bank, Merrill Lynch in PNG (1997 to 2000), responsible for both its retail and corporate business. He was also Deputy Managing Director of Resources & Investment Finance Limited, PNG's first and only Merchant Bank from 1990 to 1996, responsible for Marketing, Corporate Business and Portfolio Management. Mr. Iewago served as an Independent Non-Executive Director of the Company's parent company, Macmin Silver Ltd. until recently and was appointed Director of NGG so that he can contribute more to the activities and development in Papua New Guinea . The NGG Board is looking forward to working with Ces and welcomes his expertise in a wide range of financial, resource and investment matters.

ON BEHALF OF THE BOARD



"R.D. McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (100K)

01 December, 2005

Vancouver December 1, 2005 On the 15^th November 2005, New Guinea Gold Corporation (NGG) announced a $7,000,000 financing. The primary objective of the financing is to define NI 43-101 compliant resources at each of the key projects below and to complete development and commence gold production at the Sinivit Project.

Subject to a successful financing, funds will be used to drill extensions to known gold mineralisation at four key, company gold projects - Imwauna /Normanby (100% NGG) Weioko/Sehulea (100%), Sinivit (92%) and Mt Penck (60%). NGG did not carry out any drilling on its projects between June and November 2005.

Areas of gold mineralisation are already known at each of the above projects as a result of extensive trenching and approximately 240 completed drill holes.

A total of four drill rigs will be used to advance these projects -NGG is presently drilling about 8 drill holes at Weioko and early in the new year this rig will move to Imwauna. It is planned to acquire a second rig for Imwauna and maintain a two drill rig program throughout 2006.

The second NGG drill rig, which is in the process of being delivered to the company, will be used at the Sinivit Project.

A third drill rig has been mobilised to West New Britain and is expected to commence drilling at the Mt Penck Project in early 2006 and continue drilling there throughout 2006.

Negotiations are in progress to acquire or hire a fourth drill rig which initially will be used to test the molybdenum zones at Simuku announced in a Press Release dated 3^rd October 2005. This rig will then move to the Weioko Project.

The company also owns 6 bulldozers and 2 excavators which are in use in exploration

Part of the financing will also be used to complete development of the Sinivit Property where gold production is expected in second quarter 2006 (see Press Release dated 7^th July 2005). As noted above, management also plans to drill extensions to known gold mineralization at Sinivit


Comment
"NGG management are aware that the financing will increase the issued capital of the company," said Bob McNeil Chairman and CEO. "However, we have been quite constrained in our ability to advance our projects and we believe that the potential benefits to shareholders of having four or more drill rigs working on key properties far outweighs the cost of the increase in issued share capital. Management recently went on an extensive and well received roadshow trip to North America (Montreal, Toronto , New York and San Francisco) and Europe (London, Paris, Munich and Zurich). The majority of the participants in our presentations were impressed with the overall inventory of our projects. The strategy most favoured was that NGG embark on a major drilling program at specifically targeted sites with the goal of achieving not only NI 43-101 qualified technical reports but to advance as soon as possible to a NI 43-101 Economical Feasibility Study. The drilling is intended to significantly enhance the value of these projects and to provide a steady release of drill results throughout 2006."

"The company has an experienced exploration/development team in place and is able to call on assistance from shareholder Macmin Silver Ltd's project development group. Senior managements' combined experience in PNG exceeds 100 years," concluded Mr. McNeil.

Papua New Guinea is a major resource producing country with significant copper, gold and oil production. Major companies with exposure to PNG include Placer Dome, Rio Tinto, Harmony Gold, DRD Gold and Noranda. PNG is a parliamentary democracy with a well established mining act, based on Australian models and a separation of powers between the political executive and the judiciary.

New Guinea Gold Corporation has disclosed historical resource estimates for the Sinivit and Imwauna (Normanby) projects, however these were based on historical estimates and have not been verified and supported by NI 43-101 compliant, independent technical reports. These historical resource estimates cannot be relied upon until they have been verified and supported by NI 43-101 compliant reports.

The development of the Sinivit Mine Project is based on an internal update of an historical feasibility study. These studies and project economics cannot be released to the market until such time as they have been independently verified in a NI 43-101 compliant technical report. Investors and shareholders are cautioned that historical mineral resources are not mineral reserves and do not have demonstrated economic viability and to proceed with development prior to completion of the above report, in the absence of current mineral resources and reserves and an independent feasibility study in accordance with NI 43-101 that determines and supports the economic viability of the project, may involve additional risk that the project will not be economic.

New Guinea Gold cautions that these are forward looking statements and conclusions which may not eventuate. For more complete details (including all previous drill results) and independent technical reports on the projects refer to www.newguineagold.ca

For further information Judith O'Quinn at 604 662 3598, email ngg@telus.ca - web site: newguineagold.ca

The technical data in this release was prepared by or under the supervision of Robert D. McNeil, CEO of New Guinea Gold Corporation. Mr McNeil has an MSc in Geology, 44 years mining industry experience, is a Fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a qualified person.


ON BEHALF OF THE BOARD



"R.D. McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (132K)

15 November, 2005

PRESS RELEASE

NEW GUINEA GOLD SIGNS ENGAGEMENT AGREEMENT TO RAISE UP TO $7,000,000 BY WAY OF PRIVATE PLACEMENT

Vancouver - 15 November 2005. New Guinea Gold Corporation - NGG ("the Company") is pleased to announce that it has engaged Bolder Investment Partners, Ltd. ("Bolder") to offer, by way of Private Placement up to 28,000,000 units of the Company at $0.25 per unit (the "Units") to raise up to $7,000,000. Each Unit will consist of one common share and one non-transferable share purchase warrant. Each share purchase warrant will be exercisable into an additional share for a period of two years from Closing at an exercise price of $0.30. The Units will be offered to buyers in British Columbia, Alberta, Ontario, the United States and certain offshore jurisdictions.

Bolder will receive a cash commission of 7.5%, of which Bolder may elect to be paid up to half of this commission in Units. Bolder will receive Agent's Warrants equal to 10% of the number of Units sold, which Agent's Warrants will have the same terms as the clients' warrants. Bolder will also be paid a fee of 100,000 Units of the Company (the "Corporate Finance Fee Units") and an administration fee of $7,500.

Net proceeds of this financing will be used to advance the Sinivit project, for drilling and exploration work on the Company's other properties in Papua New Guinea, with an emphasis on the Imwauna area of the Normanby project, and for general corporate purposes.

The completion of the financing is subject to the acceptance of the TSX Venture Exchange and compliance with applicable securities laws.

ON BEHALF OF THE BOARD

Judith O'Quinn
CFO & Corporate Secretary

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (104K)

10 November, 2005

NEWS RELEASE

6,000 M PROGRAMME OF BULLDOZER TRENCHING IN PROGRESS AT MT. NAKRU

November 10th, 2005 - Vancouver, BC - New Guinea Gold Corporation (NGG) announces that it has received a report from Dr. David Lindley, PhD, VP Exploration, PNG and lead geologist for NGG's projects in Papua New Guinea. Dr. Lindley has returned from a three-week trip to Papua New Guinea and has provided a report on the Mt. Nakru property. The Mt Nakru property is located in West New Britain Province, Papua New Guinea. Mt. Nakru is owned 75% New Guinea Gold Corporation and 25% by Vangold.

Dr. Lindley reports:

Work at Nakru 1 Prospect continues. Three machines are working on this prospect. Two contour trenches are being cut at the moment. Volcanic ash up to 5m thick has been encountered in both trenches. Trenches are being sampled literally with each metre of advance, because of the instability of the high unsupported and undercut banks of volcanic ash created during dozer excavation to bedrock, on the steep slopes and with the likelihood of daily heavy afternoon rainfall.

Trench 1: This trench has now been terminated at 1,600 m (ultimate length is 2,000 m). Bedrock alteration extends beyond 1,600 m but it was decided to accelerate work on other trenches before deciding to complete this trench. Total of 562 "bottom of trench" samples are in Kimbe ready for dispatch to ALS-Chemex laboratories in Townsville, Australia.

Trench 2: This trench has been advanced to 1,000 m (ultimate length is 2,000 m). Sampling and mapping has commenced with over 200 samples collected. This trench 200 m to the north of Trench 1.

Trench 3:This trench is 200 m to the south of (and uphill from) Trench 1. Work is yet to commence on this trench.

Trench 4: This new trench is 200 m NE of and down-slope from Trench 2. Trenching advanced to 300 m. Ultimate length of trench 600 m.

Observations from Trenches 1, 2 and 4 confirm a zone of intense silicification and brecciation traceable in a NE direction for a +400 m (measured down-slope) interval. Some zones of silicification are very dense and hard on hammers and chisels. Arguably, this is the first time at Mt. Nakru that we have been able to trace such a coherent zone of alteration and brecciation beneath the thick volcanic ash and across the steep slopes of the prospect. Macmin's previous trench results of 160 m @ 0.72 g/t Au and 35 m & 1.2 g/t Au apparently sampled this zone.

It is anticipated that about 1,000 trench samples in total will be collected during the current field program.
Trenching is due for completion at the end of November 2005.


Technical aspects of the Mt. Nakru property with details of previous exploration follow.

The mineralised Mt. Nakru intrusive/extrusive complex is located near the southeastern end of a cluster of Late Oligocene-Early Miocene porphyries aligned in a generally northwesterly-southeasterly direction across western New Britain island. In the well-dissected central and northwestern portions of this cluster, porphyry-style alteration and mineralisation is hosted in the Plesyumi and Kulu River (Simuku) intrusives. The Mt. Nakru intrusive/extrusive complex is located at the topographically highest point along the cluster of porphyries and accordingly appears to be least dissected. The complex is presumably of late Oligocene-Early Miocene age and is hosted in a sub-volcanic acid-intermediate sequence of interbedded epiclastic rocks (volcanic conglomerate), weakly porphyritic acid lava flows and porphyritic dacite. A late-stage diatreme breccia body is present near the summit of Mt. Nakru.

Previous exploration at Mt. Nakru between 1985-1998 defined four prospects. Nine diamond drill holes have been completed at the project (all on the Nakru 1 Prospect). The Mt. Nakru mineralisation is typically of a gold-rich porphyry copper type with numerous trench and at least one long drill intercept of anomalous Cu and Au. Potential exists for supergene enrichment of gold and copper in the upper levels of the system. Extensive surficial deposits of ferruginous, gossanous gold-rich, copper depleted, colluvium which blanket the top of Mt. Nakru may be prospective for a small-medium sized oxide gold resource.

A summary of key points of previous exploration follows.


Nakru 1 Prospect

The Nakru I Prospect has been the most intensively explored of all four prospects. Soil geochemical sampling has outlined an 850 m x 400 m area of gold (>0.05 ppm), base metal and arsenic anomaly below a surficial covering of volcanic ash. City Resources (PNG) Pty Limited drilled three diamond drill holes (396.55 m) and BHP sited an additional five drill holes on their interpretation that the target zone was likely to lie peripherally to or towards the northwest of a vent postulated to exist at the summit of Mt. Nakru. Macmin completed one drill hole to test the depth extensions of mineralisation intersected in NAK003 and Q74D6. NAK003 intersected 93.99 m @ 0.46 g/t Au and 0.43 % Cu; Q74D6 intersected copper mineralisation over the entire 205.0 m length of the hole which averaged 0.4 % Cu.

Additional bulldozer trenching subsequent to diamond drilling has located a broad zone of 245 m width averaging 0.8 g/t Au, located to the northeast of drill hole NAK002. The trench terminated in a 35 m zone that averaged 1.2 g/t Au. The present program of trenching is targeting this area.

A summary of significant trench and drilling results follows:

Table 1- Nakru 1 Prospect: Trench and drill hole results
Colluvial deposits and bedrock exposures

NB: Cutoff grades: Au - 0.5 g/t Au; Cu - 0.1% Cu. - denotes value below cutoff grade.


At Mt. Nakru, early thin quartz-pyrite veins with rare sulphide mineralisation are post-dated by thick quartz-coarse pyrite veins with chalcopyrite and minor sphalerite. Sulphide assemblages are dominated by chalcopyrite-pyrite. This fracture controlled alteration overprints and post-dates extensive pervasive sericitic and argillic alteration. The prospect may represent the upper levels of a porphyry copper system. The system extends beyond the limits of mapping to-date.

Table 2 - Nakru 1 Prospect: Drill hole results

NB: Cutoff grades: Au - 0.5 g/t Au; Cu - 0.1% Cu. - denotes value below cutoff grade: NSR - no significant results from drill hole.


Nakru 2 Prospect

The Nakru 2 Prospect lies within the Mt. Nakru intrusive/extrusive complex, approximately 1,000 m west of Nakru 1 Prospect. The prospect was located by tracing mineralised stream float to it source. Float samples assayed up to 0.55 g/t Au with base metal values of up to 21 % Zn and 2.36 % Cu. The prospect consists of structurally controlled, narrow northeast, northwest and west-northwest trending zones of brecciation, silicification, clay and pyrite. Soil sampling, hand and bulldozer trenching have been completed on the prospect. Three of the 24 samples collected during reconnaissance sampling by Macmin returned copper values > 1% (2.16 %, 1.28 %, 19.90 % - the latter two were from outcrop). The sample that contained 1.28 % Cu also contained 0.28 g/t Au and was collected from a silicified sulphidic breccia zone of about 50 m width. No drilling has been completed. A summary of trench sampling follows:

Table 3- Nakru 2 Prospect: Summary of significant trench results

NB: Cutoff grades: Au - 0.5 g/t Au; Cu - 0.1% Cu. - denotes value below cutoff grade.


Nakru 3 Prospect

The Nakru 3 Prospect lies within the Mt. Nakru intrusive/extrusive complex, approximately 1,700 m north of Nakru 1 Prospect. The prospect was located by tracing mineralised stream float to it source. Very little surface work has been done on this prospect. Reconnaissance sampling returned up to 5.2 g/t Au from a silicified shear zone with pyrite and magnetite. An hydrothermally altered breccia returned 2.1 % Cu. No bulldozer trenching or diamond drilling has been completed.


Nakru 4 Prospect

The Nakru 4 Prospect is defined by a broad + 5 ppb gold in soil (BLEG) anomaly and is located approximately 1,300 m northwest of Nakru 1 Prospect. Because of the extensive volcanic ash cover in the area, the anomaly has been further investigated by Macmin with a program of 423 Wacker drill holes. Hole depth varied up to 15.2 m, but averaged approximately 5 m for a program total of 2,772 m. The area sampled measured approximately 500 m x 3,000 m. Drilling defined several subtle gold anomalous zones, with the most coherent, highest grade zone measuring 250 m x 75-150 m. A summary of Wacker sampling results follows:

Table 4- Nakru 4 Prospect: Summary of significant C-horizon soil (Wacker drill) results

The technical data in this release was prepared by or under the supervision of Robert D. McNeil, CEO of New Guinea Gold Corporation. Mr McNeil has an MSc in Geology, 44 years mining industry experience, is a Fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a qualified person.

For further information contact Forbes West at 888 655 5532, email forbes@sherbournegroup.ca or Judith O'Quinn at 604 662 3598, email ngg@telus.ca

ON BEHALF OF THE BOARD

"R.D.McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (164K)

09 November, 2005

NEWS RELEASE

NGG ROAD SHOW IN EUROPE NOVEMBER 15-22
Also Attending the San Francisco Gold Show November 27th and 28th

Vancouver 9^th November 2005. New Guinea Gold announces that Mr Robert McNeil, Chairman and CEO will be attending the Resource/Gold Conferences at Munich on the 18th and 19th November (Booth number 34), and presenting to fund managers in London on 15th and 16th November, Paris on 14th November, in Geneva on 19th November and Zurich on 22nd November 2005.

As part of the Company's ongoing marketing program, New Guinea Gold will also be attending the San Francisco Gold show, on the 27th and 28th November 2005, booth number 706.

Mr McNeil will be happy to review the Company's activities or answer any questions shareholders may have at the Munich or San Francisco venues. European investors who are, or may be interested in becoming shareholders, and wish to attend one of the European meetings, are invited to contact Forbes West at +1-416-203-2200, or by email: forbes@sherbournegroup.ca.


ON BEHALF OF THE BOARD



"R.D.McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (88K)

07 November, 2005

NEWS RELEASE

DRILL TESTING OF HIGH GRADE ZONE AT WEIOKO COMMENCES

Vancouver - 7th November 2005. New Guinea Gold (NGG) has commenced further drill testing of the Weioko gold project, Sehulea property, Papua New Guinea. This property is owned 100% by NGG.

Approximately thirty, mainly relatively shallow drill holes, have defined an open ended gold mineralised system at Weioko which is more than six hundred metres in length and sixty to eighty metres in width.

Over the next twelve months NGG plans to conduct several drilling programs with the objective of allowing a NI 43-101 compliant resource to be determined. Details on all past exploration, including all drill and trench results are available in technical reports filed on Sedar or at the Company's web site - www.newguineagold.ca .

Substantial surface exploration has shown anomalous to high grade gold in rock, float and soil samples over an area in excess of five square kilometres. The size of this gold anomalous system is large but at this stage the Company cautions that no resource has yet been defined which is in compliance with NI 43-101.

The initial drilling will concentrate on the northern end of the system and will attempt to extend the higher grade mineralisation intersected in two holes drilled in late 2004.

Dr David Lindley, Vice President Exploration for NGG states: "the aim of the fence of holes is to provide an across-strike investigation of an apparently strongly mineralised zone of hydrothermal breccia containing a bulk grade of between 1.5 and 3.60g/t gold. This body of rock is noteworthy for the presence of particularly wide high-grade gold intercepts within otherwise bulk low-grade mineralisation. Such mineralisation may be attractive to enhance possible project economics. Previous results include:

21m @ 3.59g/t gold, including 4m @ 11.55g/t gold (Hole WEH 31)
56m @ 2.43g/t gold, including 4m @ 58.87g/t gold (trench)


16m @ 1.37g/t gold, including 1.50m @ 6.99g/t gold (Hole WED 01)
4m @ 21.89g/t gold (trench)"

The drilling will be carried out by NGG's own drill rig.

Exploration interest in the Sehulea property area dates to the early 1980's with the development of Placer Dome's nearby large Misima gold deposit. Exploration included regional silt sampling, prospecting, reconnaissance geological mapping and airborne surveys. Rock float sampling in the Sehulea area resulted in over a hundred samples with >1 g/t gold with a number of samples >10 g/t gold (high of 363 g/t gold), and resulted in grid soil sampling of an 18 sq km area centered on the Weioko prospect. The soil survey resulted in large areas with >100ppm arsenic and >80ppb gold. The Weioko Project was defined by a strong, open-ended, gold-in-soil anomaly (>700ppb gold) covering an area of 350m by 250m. Previous explorer (Esso/City Resources) located the presence of bedrock gold mineralization by hand trenching within the soil anomaly. Three of their trenches returned 156m at 2.43g/t gold; 72m at 2.34g/t gold; and 60m at 1.20g/t gold. A six-hole reconnaissance diamond drilling program (totaling 869.7m) tested the apparent north-trending strike of the contact between the cover and basement rocks with five holes and the sixth hole tested for a possible southern extension. Hole WED 003 graded 0.75g/t gold from 0 to 117.5m and included 27.7m grading 2.07g/t gold and 17.1g/t silver with a section from 30.7m to 32.2m grading 19.90g/t gold. WED 001 graded 0.53g/t gold from 0 to 114.8m; WED 002 graded 0.44g/t from 0 to 150.0m: and WED 005 graded 1.35g/t gold in the top 27.7m. A second program of four holes tested for east and west extensions of the mineralization, and encountered long anomalous sections such as: 47.2m to 86.0m at 0.37g/t gold in hold WED 007; 37.9m to 52.9m at 0.40g/t gold in hole WED 008; and 78.4m to 124.8m at 0.36g/t gold in hole WED 009.

Macmin PNG (now NGG) carried out additional trenching with a diamond saw used to cut channels for sampling. Channel sampling results included: 164m of 3.96g/t gold (inc. 16m of 20.03g/t gold); 28m of 5.19g/t gold, 26m of 5.70g/t gold; 20m of 2.69g/t gold; 16m of 2.67g/t gold; and 12m of 3.02g/t gold. The trench results encouraged completion of 29 RC holes that confirmed mineralization over a strike length of 600m and down dip in a 100m test. Mineralization remains open along the north and south trend and down dip. The RC drilling contained many assay intervals grading between 1g/t and 3g/t gold, but with fewer results comparable to those in the trenches. An IP survey was completed to check for possible continuations of the mineralized system, and showed that Weioko mineralization could extend over a further kilometer to the south and that another mineralized system may occur near Lataona Hill.

The technical data in this release was prepared by or under the supervision of Robert D. McNeil, CEO of New Guinea Gold Corporation. Mr McNeil has an MSc in Geology, 44 years mining industry experience, is a Fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a Qualified Person.

For further information contact Forbes West at 888-655-5532 or Judith O'Quinn at 604-662-3598.

ON BEHALF OF THE BOARD

"R.D.McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (140K)

07 November, 2005

NEWS RELEASE

NGG ACQUIRES OWN DRILL RIG

Vancouver 7^th November 2005. New Guinea Gold's (NGG) first diamond core rig has been delivered to site in Papua New Guinea at the Weioko Prospect, Sehulea Project.

NGG and Kanon Resources (Kanon) decided in late 2004 to acquire two diamond core drill rigs - the initial rig being wholly owned by NGG and the second rig owned by Kanon. Kanon is owned 50/50 by NGG and Vangold Resources Ltd and Kanon's rig is expected to be delivered to site at the Mt Penck project in December 2005. NGG will operate both rigs and has the expertise on staff and through consulting arrangements to efficiently manage drilling operations. NGG also plans to acquire a further two drill rigs in early 2006.

The acquisition of drilling capability will allow NGG and Kanon to markedly increase drilling in 2006 and should provide the market with a steady flow of drill results. The intention is to focus the drilling throughout 2006 on defining resources to N1 43-101 standards at key NGG and Kanon projects. It should also allow a marked reduction in costs, as drill contract rates have substantially increased in the past two years, due to increased demand.

For further information contact Forbes West at 888-655-5532 or Judith O'Quinn at 604-662-3598.


ON BEHALF OF THE BOARD





"R.D.McNeil"
CHAIRMAN & CEO

Also available as a PDF File (168K) - includes Form 51-102F3

07 November, 2005

NEWS RELEASE

NGG CORRECTS DISCLOSURE RE SINIVIT, IMWUNA, WEIOKO AND MT PENCK PROJECTS

Vancouver - November 7, 2005. This news release has been issued at the request of the TSX-Venture Exchange in order to clarify and provide supplemental information for the Company's news release of October 24, 2005.

On October 24, 2005 NGG announced that, as part of the financing of the Sinivit Gold Project, NGG and Credit Corporation (PNG) Limited have agreed in principle that Credit Corporation will extend to NGG's wholly owned subsidiary Macmin (PNG) Limited, leasing or similar financing up to a maximum of AUD$3 million. In the release, New Guinea Gold also commented on development at Sinivit and on four other projects.

• At Sinivit, where mine development has commenced, and gold production is expected in the second quarter of 2006, cash flow from this project is expected to fund ongoing exploration at Sinivit with the objective of increasing the mine life, funding additional exploration and development at Imwauna and other locations. In the October 24th release, NGG stated that resources at Sinivit include 713,000t @ 5.7g/t gold for 132,000 ozs gold as an indicated resource, plus 340,000t @ 3.2g/t gold for 35,000 ozs gold as inferred resource. The Company cautions that the Sinivit resource estimate presented on October 24, 2005 is not supported by a current technical report and should not be relied upon. A technical report prepared by Project Geosciences Pty Ltd of Australia supporting a current resource estimate for Sinivit will be submitted to the BCSC within 30 days.
  
  
• The Imwauna Project. In October, 2003, the company disclosed historical mineral resource estimates at the Imwauna project. On July 5, 2005, at the request of the BCSC, the company retracted the estimate for Imwauna as this resource estimate was based on historical estimates not supported by a compliant, independent, technical report. At present the company does not have NI43-101 compliant technical report containing a historical resource estimate for Imwuana. The Company again disclosed a historical estimate for Imwuana on October 24, 2005 and at the request of the BCSC and the TSX Venture Exchange again retracts the estimate, which should not be relied on.
  
  
• The Weioko Gold Project and the Mt Penck Gold Projects
  At the Weioko Project about 30 drill holes have defined significant gold mineralization. A program of geological and geochemical follow up of surface targets followed by definition drilling, subject to available funds, will commence here in 2006.
  
  
• At the Mt Penck Project, (60% the Company, 40% Vangold), drilling in 2004 outlined significant gold mineralization. Commencing later this year, using a drill rig specifically purchased by the partners, the objective of the drill program will be to allow estimation of resources at the Kavola East Prospect and to test other known gold bearing areas at Mt Penck. At this time there are no mineral resources for these projects.
  
  
• On 12th September 2005, the Company announced trench results for the Simuku Project (the fifth building block) which included very significant molybdenum results. Molybdenum prices have increased very substantially in the last two years. A total of 20 kms of bulldozer/excavator trenching and 12 drill holes have now been completed at the project.
  
  All results of the trenching will be announced as soon as they are available and a complete assessment of the project, with proposed drill targets, will be available later this fall.

Also available as a PDF File (204K) - includes Form 51-102F3

03 November, 2005

NEWS RELEASE

November 3, 2005 - Vancouver, BC - New Guinea Gold Corporation ("the Company" or "NGG") and Vangold Resources Ltd. ("Vangold") announce that they have received a report from Dr. David Lindley, PhD, VP Exploration PNG, lead geologist for NGG's and Vangold's projects in Papua New Guinea. He is presently completing a review of all historical data on the Feni Island property. Dr. Lindley is a Member of the Australian Institute of Geoscientists, with in excess of 25 years experience and is thus a Qualified Person in accordance with NI 43-101. The Feni Island property is located in New Ireland Province, Papua New Guinea, and is owned 50% by NGG and 50% by Vangold with Vangold having the option of earning a further 25%.

Dr Lindley reports:

The Feni island data review is nearing completion and the following is a preliminary statement on some of the more interesting findings. The anticipated start to fieldwork on Feni will be during the first quarter of 2006.

There can be little doubt that Lihir-type gold mineralization is present somewhere on the Feni Islands. The evidence for this comes from an examination of the nature of gold in panned concentrates from two areas from the Central "Caldera" area of Ambitle Island. Panned concentrates from several upper Nanum River tributaries and Matangkaka Creek are unusual in that despite their very high assay gold contents (30-85 ppm), only a few colours of gold are visible in the pan. This indicates the presence of very fine-grained gold, typical of the refractory gold of the Lihir Island deposits, where virtually all gold is locked up as micron-sized grains within pyrite. Subsequent weathering and oxidation of the pyritic Lihir ore liberates micron-sized gold grains, similar to what we now find in these two areas on Ambitle Island.

The exact source of this refractory gold remains a mystery. One cannot locate the source by following the courses of the several Nanum tributaries and Matangkaka Creek to their headwaters.

These modern streams appear to be merely re-working the "refractory gold" from ancient drainages that existed prior to a 2,300 year b.p. eruption which blanketed the area with a thick volcanic ash (tephra) layer. We need to know details of the pre-eruption land-surface and its stream courses. Mapping of the pre-tephra surface, using drill-intersection thickness data, was attempted by previous explorer Ingold Holdings (PNG) Inc., but was inconclusive.

An obvious source area has to be the Dome Prospect, which occupies a 1.5 km2 area between the upper Nanum tributaries and Matangkaka Creek. The prospect was identified in 1985 and has always been regarded as a volcanic dome, a plug-like intrusive feature typical of the late, waning stages of a volcano. This is not the case. Although many drillholes (including 50 aircore holes drilled in 1985) failed to penetrate the massive, hard trachyte, at least 4 drillholes since 1985 have penetrated the trachyitic rocks. One hole intersected a 138 m interval of altered pre-trachyte volcaniclastic rocks beneath 10 m of trachyitic lava. Much of the Dome Prospect is in-fact blanketed by a comparatively thin (10-70 m drill indicated thickness) trachyitic lava flow, with the actual parent dome restricted to a relatively small area at the NE extremity of the prospect.

The Dome Prospect is considered to be highly prospective for the discovery of either blind Lihir-style gold mineralization or structurally controlled high-grade mineralization for the following reasons:

1. The prospect is immediately central to all known occurrences of panned concentrate "refractory-gold" on Ambitle Island.
   
2. Altered rocks, including phyllic (sericite-quartz-pyrite), argillic (illite-smectite-pyrite) and advanced argillic (opal-kaolinite-pyrite), appear to pass under the margins of the Dome trachyte lava sheet.
   
3. Spectacular occurrences of anhydrite sealed rocks, typical in the Lihir deposits, outcrop and have been intersected in drilling to the immediate N of the Dome trachyte lava sheet. Their distribution indicates the possibility of a N-S structural zone passing under the Dome trachyte lava. Massive cliff-like exposures of anhydrite measure metres in height and width and contain copper-rich minerals including enargite and covellite.
   
4. The SW margins of the Dome trachyte lava sheet appear to overlie the Matangkaka Intrusive Complex. This is supported by aeromagnetic interpretation.
   
5. The prominent NE trending Kabang Structure (which has controlled the emplacement of the Matangkaka Intrusive Complex and the satellitic Kabang Stock) can be traced across the Dome Prospect (using radar imagery). This indicates the operation of a long-active basement-penetrative structure, a suitable conduit for mineralising fluids and a locus for mineral deposition. Prospective targets include the Kabang Structure beneath the Dome trachyte lava sheet and its intersection with the N-S trending anhydrite sealed zone.

Also available as a PDF File (136K)

01 November, 2005

NEWS RELEASE

November 1, 2005 - Vancouver, BC - New Guinea Gold Corporation ("the Company or NGG) and Vangold Resources Ltd. ("Vangold") announce that they have received a report from Dr. David Lindley, PhD, VP Exploration, PNG and lead geologist for NGG and Vangold's projects in Papua New Guinea. Dr. Lindley has returned from a three-week trip to Papua New Guinea and has provided his report on the Mt. Penck property . The property is owned by Kanon Resources Ltd. ("Kanon"), a Papua New Guinea company which, in turn, is owned 50% NGG and 50% by Vangold. The Mt. Penck property is located in West New Britain Province, Papua New Guinea and the division of ownership in this specific property 60% NGG and 40% Vangold.

Dr Lindley reports:

During July-November 2005 we have achieved the following at Mt. Penck:

1. Establishment and sampling of a soil grid covering all known prospects, containing 15 cross-lines (100 m separation) totaling 14,900 line m. 555 soil and 130 rock samples were collected. Geological mapping of soil auger rock chips has been an important component of this programme. Results are awaited.
   
   
2. Preparation of a review of all historical exploration data of BHP, Indo-Pacific Resources and Kanon with recommendations for field follow-up. This has also included the relogging of Kanon's seven drill holes completed at Kavola East in 2004.
   
   
3. The combined technical review and soil grid geological mapping has led to the recognition of an aeromagnetic anomaly and potassium anomaly (in this case reflecting K-mica [sericite] alteration) coincident with a zone of sericite-quartz-pyrite alteration and a topographic depression lying at the centre of all known prospects. Pannable gold is present in a stream at the centre of this area. This area of interest has gone unrecognized by previous explorers and remains little sampled and undrilled.
   
   
4. Extra surface work including relocation of old BHP and Indo-Pacific trenches at Kavola East and Koibua, cutting drill sections, mapping at Koibua Prospect, reconnaissance prospecting in the Peni Creek prospect area etc was completed. The relocation of old trenches (many of which carry anomalous gold grades) will assist in drill hole placement. This work is necessary ahead of receipt of soil results and drilling. Drilling is planned to commence at the Kavola East Prospect. Relationships with landowners have improved dramatically thanks to the efforts of our project geologist.

The Kanon drill rig is expected to arrive in Kimbe from Australia on 23 November 2005. Drilling is expected to commence following mobilization of the rig and supplies to the Mt. Penck site.

There is a good story to be told of the Mt. Penck hydrothermal system, with potassium and aeromagnetic geophysical anomalies coincident with a similarly shaped zone of sericite-quartz-pyrite bedrock alteration and a topographic depression. The location of this hydrothermal system out on the flanks of a deeply dissected Plio-Pleistocene stratovolcano adds credibility to several mineralisation models. There is abundant evidence for the development of a well-developed plumbing system of permeable structures, very necessary for the passage of mineralising hydrothermal fluids. As explained below we are looking at several mineralization types, including a large low grade bulk gold target exemplified by Round Mountain gold mine, NV, where contrasting volcanic rock types have played a key role in the localisation of ore types, narrow high-grade zones of gold mineralisation localised in permeable structures, or (now with the recognition of vuggy silica and a magmatic influence) high-grade gold-copper mineralization similar to that at Summitville, CO.

Technical aspects of Dr. Lindley's observations at Mt. Penck follow:

It appears that the prominent and impressive coincident elliptical (600m x 300 m) airborne potassium and aeromagnetic anomalies at Mt. Penck are related to bedrock geology. Logging of rock chip samples collected at auger sites during the recent grid soil sampling programme (which covered all Mt. Penck prospects) has defined an elliptical zone of sericite-quartz-pyrite (phyllic) alteration coincident with the geophysical anomalies. An airborne inspection indicates that the anomalies also correspond with a topographic low surrounded by steep peaks, with the gently arcuate E-W ridge passing immediately to the north of Koibua Prospect forming the north rim of the depression.

Re-traversing of the Kavola River and one of its northern tributaries, both of which run through the centre of the anomaly, has confirmed the presence of intense phyllic alteration. The intensity of this alteration at several localities is such that it has resulted in the obliteration of the rock texture. At the deepest point of erosion into this alteration zone, at the junction of the Kavola River and the aforementioned tributary, a well-developed stockwork is present, comprising two vertical fracture sets and a sub-horizontal set. Stockworking of fine haematite-sulphide veins is also present. Lithological re-logging of the Kavola East drill holes indicates that high gold grades are typically confined to thin veinlets of haematite. The eroded centre of the coincident anomalies presents an interesting drill target.

The coincident phyllic alteration, topographic anomaly, and potassic and aeromagnetic anomalies lie on the eroded flanks of the Mt. Penck stratovolcano, about 1.5 km NW of its volcanic neck. It is possible that the altered zone may either overlie a high-level intrusive plug or be related to the conduit of a now-eroded dome. The zone is at the centre of all known Mt. Penck prospects, and is likely to have been the heat engine and fluid source to mineralisation. Prospects and prominent structures, including Peni Creek, Kavola East, Kavola Junction and faulting in the Kavola River W of the anomaly are arranged in possible concentric structures flanking this plug-like body. The Koibua Prospect, with prominent NW structural control, may be in a radial structure to the plug. The recent observation of vuggy silica in massive trench exposures at Kavola Junction suggests a magmatic input from an intrusive plug. Vuggy silica, a residue from intense leaching by acid, high temperature fluids, is a typical feature of high sulphidation mineralisation such as at Summitville, CO.

The outline of the boundary of phyllic alteration with its prominent NE-SW tongues, indicates the influence of structure in channelling fluids. The detailed reloggjng of core indicates that mineralisation occurs either in brittle hornblende porphyry lava sheets or in interbedded epiclastic rocks at or near their contact with lava sheets. These lava sheets overlie and are lateral to the Mt. Penck fluid source.


To find out more about New Guinea Gold Corporation please visit our website at newguineagold.ca , contact Forbes West at 416-203-2200 by email forbes@sherbournegroup.ca or Judith O'Quinn at 604-662-3598.

ON BEHALF OF THE BOARD


"R. D. McNeil"
CHAIRMAN & CEO

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (180K)

24 October, 2005

NEWS RELEASE

Vancouver - October 24, 2005. New Guinea Gold Corporation (NGG) is presently developing the Sinivit Project to gold production with production expected in the second quarter of 2006 (see Press Release dated 19th September 2005).

As part of the financing of the project, NGG and Credit Corporation (PNG) Limited have agreed in principle that Credit Corporation will extend to NGG's wholly owned subsidiary Macmin (PNG) Limited, leasing or similar financing up to a maximum of AUD$3 million. This financing will be used to purchase mining equipment, including mobile plant such as excavators, trucks and crushing equipment.

Credit Corporation is a Papua New Guinea financial institution and more details can be obtained at www.creditcorporation.com.pg

Details on each individual draw down will be announced as it is completed. NGG is not obligated to drawdown the full AUD$3 million and if necessary it may be possible to negotiate a higher financing limit if required.


Sinivit, where mine development has commenced, is the first "building block" in New Guinea Gold's development strategy. With gold production expected in the second quarter of 2006, cash flow from this project is expected to fund ongoing exploration at Sinivit with the objective of increasing the mine life, funding the possible second mine at Imwauna and funding other exploration. Resources at Sinivit include 713,000t @ 5.7g/t gold for 132,000 ozs gold as an indicated resource, plus 340,000t @ 3.2g/t gold for 35,000 ozs gold as inferred resource

The other key elements of NGG's strategy are

• The Imwauna Project where the Company which is proceeding with a $1.4 million pre-development program to assess indicated/measured resources, complete a feasibility or pre-feasibility study, obtain mining permits/leases. If successful, this would be the second "building block" and the Company could proceed to the development of a second gold mine in 2007.
  

• The Company has purchased its own drill rig for this evaluation and it is expected to be in operation in November 2005. There is an historic inferred resource of 990,000t @ 6.1g/t gold and 12g/t silver for 194,000 ozs gold and 382,000 ozs silver at Imwauna.
  
  
• The third and fourth "building blocks" are the Weioko Gold Project and the Mt Penck Gold Project, although at this time the possible order for development remains to be fixed.
  
  At the Weioko Project about 30 drill holes have defined significant gold mineralization. A pre-development program, subject to available funds, will commence here in 2006, which, if successful, could lead to a further gold mine in 2008/09.
  
  At the Mt Penck Project, (60% the Company, 40% Vangold), drilling in 2004 outlined significant gold mineralization. Commencing later this year, using a drill rig specifically purchased by the partners, the objective of the drill program will be to allow estimation of Indicated/Measured resources at the Kavola East Prospect and to test other known gold bearing areas at Mt Penck. If successful a further gold mine could be developed here as early as 2008.
  
  
• On 12th September 2005, the Company announced trench results for the Simuku Project (the fifth building block) which included very significant molybdenum results. Molybdenum prices have increased very substantially in the last two years. A total of 20 kms of bulldozer/excavator trenching and 12 drill holes have now been completed at the project.
  
  All results of the trenching are not yet available and a complete assessment of the project, with proposed drill targets, will be available later this fall.

Also available as a PDF File (136K)

03 October, 2005

NEWS RELEASE

Vancouver 3^rd October 2005. The Allemata Property, Papua New Guinea is owned by Kanon Resources Ltd, which in turn is owned 50/50 by New Guinea Gold Corporation (NGG:TSX-V) and Vangold Resources Ltd. Kanon drilled six holes totalling 764.9m during the second and third quarters of 2005.

All holes encountered gold intersections, mainly at depths of less than 50m down-hole.

At Ulo Ulo prospect several, relatively narrow intersections were encountered such as 1.0m @ 17.65g/t gold; 1.55m @ 5.87g/t gold; 1.9m @ 9.39g/t gold; 0.5m @ 6.02g/t gold ; 0.1m @ 32.2g/t gold, 33g/t silver, 2.35% copper and 0.11% zinc; plus other intersections of up to 7m in width at gold grades of less than 5g/t gold.

At Mt Haluba, Kanon drilled one deep hole to 200m depth, also encountered near surface mineralisation of 7.10m @ 3.44g/t gold plus other intervals such as 2.90m @ 2.39g/t gold and 2m @ 4.17g/t gold.

For more information, visit NGG at the Toronto Resource Investment Conference, Booth 607, on Oct 3rd.

Kanon and Indo Pacific drill results at Ulo Ulo are shown below:

KANON DRILL HOLES

INDO PACIFIC DRILL HOLES

Kanon, in late 2004, early 2005 completed a fairly comprehensive surface geochemical survey which located surface gold outcrops ranging up to 4m @ 100g/t gold plus wide zones of geochemically anomalous soils and rocks in trenches.

The location of all drill-holes and a summary of the geochemical surface results are shown on Figure 1. The locations and bearings of known adits or other underground workings are also shown. Further geology and geochemical data is available in the Technical Report at www.newguineagold.ca .

The drilling defined numerous relatively narrow or wider, lower grade gold zones which will require further drill testing to evaluate their economic potential. The drilling and surface geochemistry shows that anomalous gold occurs over a 2 sq km area and much of this area remains to be drill tested.

Mr. McNeil states "At this time we still do not fully understand the controls on mineralisation at Ulo Ulo and we are continuing to evaluate all available data. When this is completed further exploration, including drilling will be carried out.


Indo Pacific had previously drilled four holes and encountered significant intervals of near surface gold mineralisation, such as 14m @ 2.86g/t gold and 14.9m @ 2.19g/t gold.

Kanon drilled one deep hole to 200m depth, also encountered near surface mineralisation of 7.10 @ 3.44g/t gold plus other intervals such as 2.9m @ 2.39g/t gold and 2m @ 4.17g/t gold. All Indo Pacific and Kanon drill results are given in the tables below:

INDO PACIFIC DRILL HOLES

KANON DRILL HOLES

The drilling at Mt Haluba has confirmed significant mineralisation within 60 metres of the surface and within a 100m by 100m area, high on the slopes of Mt Haluba, (Figure 2). Further trenching and drilling will be required to obtain an estimate of the amount of such mineralisation and this will be carried our after all surface and drill information have been completely evaluated.

The technical data in this release was prepared by or under the supervision of Robert D. McNeil, CEO of New Guinea Gold Corporation. Mr McNeil has an MSc in Geology, 44 years mining industry experience, is a Fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a qualified person.

For additional Information, contact Forbes West (888-655-5532) or Judith O'Quinn (604-662-3598)

ON BEHALF OF THE BOARD

"R.D.McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (468K)

03 October, 2005

NEWS RELEASE

Vancouver 3^rd October 2005. The molybdenum in bulldozer trench at the Simuku porphyry copper/molybdenum/gold prospect has increased from the previously reported 21m @ 1513ppm molybdenum to 72m @ 1664ppm molybdenum. This section is within a longer, lower grade section of 132m @ 989ppm molybdenum. These are very significant results - for example at the current molybdenum price of approximately US$35/lb, 1664ppm molybdenum has a value of US$115/tonne of rock (at present prices equivalent to 7.7g/t gold, not including copper and/or gold credits). Shareholders and investors are cautioned that molybdenum is at near record high prices, these prices may not be sustained in the future and that the comparison with gold is for information only as the treatment and recovery of molybdenum from molybdenum mineralisation is often more difficult and more costly than the recovery and treatment of gold mineralisation.

The Simuku prospect in West New Britain is owned 90% by New Guinea Gold Corporation (NGG-TSX.V) and 10% W.S.Yeaman. It is a large porphyry copper system with associated molybdenum and gold mineralisation. Detailed information on the property can be found in a Press Release dated 12 September 2005, and in the Independent report at www.newguineagold.ca .

The intersection described above is part of a 20km bulldozer trenching program, for which approximately one third of samples are still pending. The trenches were channel sampled at 3m intervals, approximately 3 to 4kg of sample collected and the samples were shipped to accredited laboratory, ALS-Chemex, in Townsville Australia for analysis. The results quoted above are molybdenum by the XRF method.

The trench intersection above is situated 250m NE of drill hole SMD002. It comprises a trench which partly encircles a ridge, i.e the trench passes along one side of the ridge around the top and along the far side. The trench suggests an area of mineralisation of at least 75m by 75m and is open on three sides. The nearest trench to the north is 200m distant. Management believe this is a significant area of molybdenum mineralisation.

Within the 72m @ 1664 molybdenum are several higher grade intervals:

• 15m @ 3035ppm molybdenum
• 6m @ 2582ppm molybdenum
• 24m @ 1820ppm molybdenum

Also available as a PDF File (140K)

29 September, 2005

NEWS RELEASE

MT PENCK PROPERTY SIMILAR TO ROUND MOUNTAIN GOLD MINE, NEVADA . DRILLING TO RESUME IN DECEMBER 2005

Vancouver 29^th September 2005. The Mt Penck evaluation program has defined initial drill targets at the Kavala East and Koibua prospects. Further targets are expected to be defined when all geochemical results from the current field program are available and assessed.

The Mt Penck property is in West New Britain Province, Papua New Guinea. It is relatively accessible being situated within a few kilometres of the coast of New Britain. The property is held by Kanon Resources Ltd (Kanon), a company owned 50/50 by New Guinea Gold Corporation (NGG) and Vangold Resources Ltd. NGG has earned a 20% interest by way of joint venture bringing its effective interest in the project to 60%. NGG is the Operator.

The assessment program has included the following:

• Complete review of Kanon data and available data from earlier exploration by BHP and Indo Pacific
• Review of aeromagnetic and radiometric data by consulting geophysicist Peter Swiriduik
• Air-photo geological/structural interpretation
• Completion of surveyed grid over an area of approximately 2sq km and collection of approximately 560 auger soil samples and 100 rock samples, which together with existing geochemical data will allow a comprehensive surface geochemical assessment of the Mt Penck mineralised system.

• The Mt Penck system has similarities to the Round Mountain gold mine in Nevada USA, which has produced 7.0 million ounces of gold since 1976.
• The Mt Penck mineralised area covers approximately 2 sq kms as a part of the eroded Mt Penck stratovolcano complex.
• Gold mineralisation is widespread and that there has been sufficient exploration to show that potential exists to define a substantial resource of gold mineralisation.
• The mineralisation is controlled by both steeply dipping structures and low dipping favourable rock units. The fact that mineralisation occurs in these near horizontal units suggests gold mineralisation could occur in areas of Mt Penck without any visible surface expression. This will complicate exploration and require extensive "wild cat" drilling.
• An extensive drilling program is planned commencing towards the end of 2005 and which could take 12 months to conclude. Drill results should be reported on a regular basis from early 2006.

• "A model for the combined lithological and structural controls of mineralisation, as exemplified by the world-class Round Mountain gold deposit, Nevada, is readily applicable at Mt. Penck.

• Potential for both narrow, high-grade, structurally controlled mineralisation and large low-grade bulk tonnage mineralisation.

• All Mt. Penck gold prospects lie peripherally about a 600 m x 300 m elliptical zone noteworthy for its coincident aeromagnetic and potassium anomaly. Such a paired anomaly does not appear to be repeated elsewhere in the area covered by the airborne survey.

• The long axis of the elliptical, coincident magnetic/potassium anomaly stretches along the Kavola River near the Kavola East Prospect to a point mid-way between the Peni Creek and Koibua Prospects. BHP mapped extensive deposits of matrix-supported volcanic breccia within the central depression that is occupied by this segment of the Kavola River. They suggested that the central depression is possibly an old vent.

• Arsenic in soil and rock is a proven pathfinder to mineralisation at Mt. Penck."

The locations of various prospects referred to in this Release and the area covered by soil sampling, are shown on the accompanying figure.

Dr Lindley suggests that the Mt Penck area has many similarities to the Round Mountain Gold Deposit in Nevada. He states:

"There are many similarities between the geologies of Mt. Penck and the large low-grade Round Mountain gold deposit, Nevada. In 1987 the deposit reserves were estimated at 178 mt @ 1.2 g/t Au. Since 1976 over 7.9 million ounces Au have been produced and in 2002 total Au production was 755, 493 ounces.

However, it should be remembered that there are several key differences. The Round Mountain deposit is hosted by acid (rhyolitic) rocks related to a caldera system, whereas the Mt. Penck system is hosted by intermediate-mafic (Andesitic and basaltic) rocks of a stratovolcano. The contrasting silica contents of host rocks in these systems may be reflected in differing hydrothermal alteration products.

The Round Mountain deposit is a useful example of the control of regional structures and host rock lithology on mineralisation. The deposit occurs in Tertiary volcanic rocks of a large caldera. Paleozoic rocks comprising metasediments and granite underlie the hydrothermally altered volcanic rocks in the mine area. The deposit is crudely elliptical in shape along a NW direction and measures 2,000 m x 700 m size. Multiple, nearly vertical, NW trending pre-mineral structures have played an important role in channelling hydrothermal fluids and localizing ore zones. Three hydrothermal ore zones are developed in accord with changing lithologies, including stockwork and vein ore in densely welded tuff (ignimbrite or ashflow tuff), disseminated ore in poorly welded tuff and high grade vein ore in granitic rocks). The dense, non-porous densely welded tuff was extensively shattered by pre- and syn-mineral faulting. Fluids passing along the major structures invaded the permeable stockwork zones. Stockwork mineralisation consists of minute veinlets of silica and associated disseminated pyrite. The ore zones in poorly welded tuff consist of 0.5-1.0% disseminated pyrite associated with weak to moderate pervasive silicification.

The contrasting permeability's of the Round Mountain lithologies (densely and poorly welded tuffs) are related to their mechanical response to stress induced by fault movement along NW structures. The brittle fracturing of densely welded tuffs is a response to deformation, contrasting with that of poorly welded tuffs, which have accommodated deformation.

Hydrothermal alteration at Round Mountain covers a 10 km2 area and is concentrically zoned about a breccia pipe. It is unclear whether the breccia is the surface expression of a buried intrusive or a volcanic vent. Alteration intensity, in an overall sense, increases toward the central breccia zone."

The Mt Penck property consists of five prospects and four other "areas of interest". Individual prospect results and forward plans are summarised below. The overall drilling and trenching results, in the opinion of management, clearly show the significant potential of the area.


KAVOLA EAST PROSPECT

The Kavola East prospect covers a broad area of anomalous gold in soils (for location of trenches, drill holes and soil results see Technical Report - www.newguineagold.ca ) , approximately 350m by 200m. The drilling and trench results summarised below have been reported before but are included here to provide a more complete perspective of the prospect.

A single drill hole by Indo Pacific gave the following results:

Kanon's 2004 results from drilling at Kavola East represent the best results obtained to-date from the Mt. Penck project. These results are summarised below.

There have been three main phases of trenching at Kavola East. Results are summarised below:

BULLDOZER TRENCHING 2004

HAND DUG TRENCHES 2003

HAND DUG TRENCHES PRIOR TO ACQUISITION BY KANON

The Kavola East prospect will be drilled at 25 to 50m centres to depths of approximately 100m, to more closely define existing gold mineralisation and allow an indicated and/or measured resource to be estimated. The drilling to date has not confirmed the extent of mineralisation and excellent potential exists to extend the known boundaries of mineralisation particularly up-hole or south of hole MPD 006 or trench A which encountered 40m @ 8.89g/t gold. This drilling should commence in December 2005.

KOIBUA PROSPECT

BHP (1988) partly defined the areal extent of the prospect. They completed 5 trenches to define the Koibua Prospect (Trenches 1-4; Costean 1). Best trench result obtained was 55 m @ 2.75 g/t Au. Results are summarised below:

BHP drilled 5 air-core drill holes (PA 7-10, 33) along Costean 1 (55 m @ 2.75 g/t Au). Their drilling results are summarised below.

Indo Pacific Resources drilled 2 diamond holes (DDH-1, DDH-2), angled from various directions under BHP's high-grade gold results in Costean 1 and PA33 and PA7. Results of this drilling are summarised in below.

Dr Lindley concluded:

"Without any detailed lithological logs or drill sections to provide a complete picture, these results suggest the presence of several bulk-tonnage zones of mineralisation, one near surface averaging 55 m @ 2.75 g/t Au (incl. 3 m @ 37.04 g/t Au) and one of depths of 70-115 m averaging 37.7 m @ 1.7 g/t Au.

Further drilling at the Koibua Prospect is justified. Drilling by BHP and Indo Pacific Resources tested only a very limited portion of the prospect. Target type is uncertain and may include either high-grade, structurally controlled or lithologically controlled, sub-horizontal tabular bodies of stockwork mineralisation or both."


KOIBUA SOUTH PROSPECT AND AREAS TO THE SOUTH

The Koibua South prospect may be a southern extension of the Koibua Prospect. It is an area of approximately 300m by 200m which contains widespread low tenor or value gold - with a best trench interval from some 800m of trenching of 4m @ 1.19g/t gold.. BHP drilled 7 air-core holes which defined many anomalous intervals in the range of 0.1 to 0.5g/t gold.

At this point no further drilling is planned, but the prospect will be re-evaluated at a later date.


PENI CREEK PROSPECT

The Peni Creek Prospect covers a large 400m x 200m area lying S of the Kavola River. The prospect was trenched and drilled by BHP. Chip sampling of creek exposures reportedly returned results such as 20 m @ 4.7 g/t Au, but the location of this interval has not been determined.

BHP completed two trenches in the Peni Creek Prospect area. Encouraging results were obtained and are summarised below. Low order gold grades are, like the Kavola East Prospect are present across an extensive area, suggesting a combined role of both lithology and structure in controlling mineralisation. Many good grades were obtained from the central portion of the prospect.

BHP drilled 12 air-core drill holes (PA11-PA 22) at Peni Creek in July-August 1989. Drilling was concentrated on the central portion of the prospect (exceptions being holes PA20, PA21, PA22, all drilled in the NW sector).

Results are shown below and indicate the presence of broad intervals of low-grade mineralisation averaging about 1.00 g/t Au:

• Hole PA14 intersected a 32 m interval from 16 m depth averaging 0.98 g/t Au. This hole drilled under a trench grade of 9 m @ 1.0 g/t Au.
• Hole PA19 intersected a 26 m interval from the surface averaging 0.95 g/t Au. This hole drilled under a trench grade averaging 21 m @ 1.6 g/t Au.
  

Indo Pacific re-sampled some of BHP's trenches and drilled three diamond core holes. These holes did not intersect significant gold.

Trenching has returned encouraging gold results but drilling to date has not been particularly successful. This prospect will be further evaluated as the drilling proceeds at Kavolo East and Koibua to determine if further drill targets exist.


KAVOLA JUNCTION PROSPECT

The Kavola Junction prospect is north of Kavola East and may represent an extension of that prospect. Relatively little work has been completed to date with best outcrop sampling of 5m @ 5g/t gold (in a creek bed), and 10m @ 3.15g/t gold.

Further work at Kavola Junction is likely to depend on the success of drilling planned to extend the Kavola East mineralisation to the north.


OTHER AREAS OF INTEREST

Dr Lindley describes four other areas of interest including Pene Creek South, Kavola North, Kavola River South and South areas. These areas all contain anomalous gold such as a chip sample of 6m @ 1.28g/t gold but insufficient surface work has not yet been completed to allow definition of drill targets. The soil sample results and future trenching may define such targets.

The technical data in this release was prepared by or under the supervision of Robert D. McNeil, CEO of New Guinea Gold Corporation. Mr McNeil has an MSc in Geology, 44 years mining industry experience, is a Fellow of the Australian Institute of Mining and Metallurgy, and meets the requirements of NI 43-101 for a qualified person.


ON BEHALF OF THE BOARD



"R.D.McNeil"
CHAIRMAN & CEO


The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy or accuracy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the company.

Also available as a PDF File (756K)

19 September, 2005

NEWS RELEASE

STRATEGY OVERVIEW UPDATE

Vancouver 19^th September, 2005. New Guinea Gold Corporation (the Company) released 43-101 compliant resource estimates for the Sinivit Gold Project on 15th September 2005. Management now wishes to clarify the way these resource estimates and Sinivit mine development fits into our strategic plan for the future development and growth of the Company.

Bob McNeil, CEO and Chairman states:
"I believe the Company is the pre-eminent junior explorer/miner in Papua New Guinea (PNG) where I have worked more or less continuously for the past 25 years since arriving in 1980 as General Manager for Esso PNG, a division of Exxon Minerals at that time.

The Company has interests in 12 projects, most of which, in time and with further exploration could develop into significant mineral projects and perhaps mines. We have selected five of these projects as our key or material projects and our current efforts are focussed on these projects. This does not mean the remaining projects will not eventually be developed at some point in the future, but the Company does not have the resources to significantly advance all 12 projects simultaneously. Two of the remaining projects, although highly favourable from a technical point of view, are also in very high cost areas and consequently we have joint ventured these properties to third parties which are sole funding that exploration. We expect to ultimately retain 25% interest in each of these properties."

"We want shareholders to be fully aware that Sinivit is only the first mine development of what we expect will be several such developments over the near term. Although very important for the Company in that it will generate an early cash flow and thus be the catalyst for further development, management regards Sinivit as merely the first "building block" in our strategic plan.

Management regards Sinivit as an excellent project, but it may ultimately not be our best. The Imwauna Project (Normanby Property) is rated first, followed more or less equally by our four other key projects, Sinivit, Weioko (Sehulea Property) and Mt Penck gold projects and the Simuku copper/molybdenum project. Sinivit is the first property to be developed because technical assessment work and government permitting was most advanced," concluded Mr. McNeil.


The Company's development strategy is summarised below:

• Mine development has commenced at the first "building block" or the Sinivit project with gold production expected in the second quarter of 2006 (see Press Release dated 7th July 2005). Cash flow from this project is expected to fund ongoing exploration at Sinivit with the objective of increasing the mine life, funding the possible second mine at Imwauna and funding other exploration. The Company has commissioned an Independent NI 43-101 qualifying report and expects to be able to release financial information and a feasibility study relating to the project within three weeks. In the interim the Company is required to caution investors and shareholders that development is proceeding on the basis of historical reserves and an historical feasibility study and as such the financial risk of the project may be higher.
  
  The Company released NI 43-101 compliant resources to the market on 15th September 2005 totalling 713,000t @ 5.7g/t gold for 132,000 ozs gold as an indicated resource, plus 340,000t @ 3.2g/t gold for 35,000 ozs gold as inferred resource

• At the Imwauna Project (Normanby Property), the Company is proceeding with a $1.4 million pre-development program to assess indicated/measured resources, complete a feasibility or pre-feasibility study, obtain mining permits/leases. If successful, this would be the second "building block" and the Company could proceed to the development of a second gold mine in 2007. At this stage we are prohibited by securities legislation from forecasting possible size of the deposit, production rate or any financial projections.
  
  The Company has purchased its own drill rig for this evaluation and it is expected to be in operation in November 2005. There is an historic inferred resource of 990,000t @ 6.1g/t gold and 12g/t silver for 194,000 ozs gold and 382,000 ozs silver at Imwauna.

• The third and fourth "building blocks" are the Weioko Gold Project (Sehulea Property) and the Mt Penck Gold Project, although at this time the possible order for development is still uncertain.
  
  At the Weioko Project about 30 drill holes have defined significant gold mineralisation. A pre-development program, subject to available funds, will commence here in 2006, which, if successful, could lead to a further gold mine in 2008/09.
  
  At the Mt Penck Project, (60% the Company, 40% Vangold), drilling in 2004 outlined significant gold mineralisation. Commencing later this year, using a drill rig specifically purchased by the partners, the objective of the drill program will be to allow estimation of Indicted/Measured resources at the Kavola East Prospect and to test other known gold bearing areas at Mt Penck. If successful a further gold mine could be developed here as early as 2008.

• On 12^th September 2005, the Company announced trench results for the Simuku Project which included very significant molybdenum results. Molybdenum prices have increased very substantially in the last two years. A total of 20 kms of bulldozer/excavator trenching and 12 drill holes have now been completed at the project.
  
  All results of the trenching are not yet available and a complete assessment of the project, with proposed drill targets, will not be available for a further two months. We have commenced metallurgical testing of the surface higher grade molybdenum zones.
  
  The Simuku project is in a different category to the previously described gold projects and would be more complex to develop. It may be that the Company would seek a partner in any such development.

• As noted above, cash flow from the Sinivit Mine will be used to create a largely self funded exploration/mining company. We do however expect to raise approximately $3 million by way of leasing/debt financing to assist in the development of the Sinivit Mine, and we may need to raise further equity funds to take Sinivit to full cash flow. We have no plans at this time to hedge or sell forward any of our possible gold production.

• Management recognises that to move the Company's share price to higher levels requires the release to the market of not only the ongoing progress in the Sinivit Mine development but also new drill results from time to time and/or progress in the Company's development strategy. To achieve these objectives a further equity raising will be necessary later this year. If we wait for the cash flow the Company's share price is unlikely to move higher in the near term.

• Two projects are presently being sole funded by joint venture partners. We will consider joint venturing more of our non core projects.

Judith O'Quinn CFO for the Company states:

"Recent news releases have generated comments/feed back from several long time shareholders and others within the industry. Typical comments have been - is it good news or bad news we don't understand what it means, its too technical and where is the Company going. For those who are not familiar with Securities Regulations as a mining, exploration company we are governed and regulated by what is known as National Instrument (NI) Policy 43-101 and companion policies, available for review at the BC Securities Commission web site.

The policies provide directions as to how all TSX-Venture public companies must publish mining/exploration data. We are restricted on the type of information given to shareholders. In some cases this data cannot be released until it is signed off by an Independent Qualified Person (QP) - independent of the Company. At the present time it is very difficult to obtain the services of such an independent QP in a reasonable time frame at reasonable cost, particularly in Papua New Guinea. While regulatory compliance adds a time and cost factor, the Company has no difficulty in meeting the regulatory standards. Overall, the 43-101 requirements are intended to protect investors and provide a fair and even playing field to all stakeholders.

We are taking this opportunity to provide our shareholders and potential investors with a Strategic Overview Update which may give a clearer understanding of our current position, the planning process for developing and building our assets and what might be called our wish list. We must acknowledge a need for flexibility when facing the realities or uncertainty of future market demand for metals and also caution that we may not meet the projections/objectives outlined below."

The following are the highlights (prior to the releases of the past two weeks), ownership and title for each project. The table below, plus information in earlier press releases and on our website, www.newguineagold.ca should allow shareholders to make an assessment of the Company's likely future growth.

The following are the highlights, ownership and title for each project

The above plan is ambitious, but we have the staff, expertise and back up to carry out the plan.