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Vancouver – 13th December, 2007. New Guinea Gold Corporation (“NGG” or the “Company”) advises that the first commercial gold pour was completed in the first week of December. 380 ozs of gold dore was poured and based on assays of previous pours, this dore is expected to contain approximately 300 ozs gold. Vat 1 continues to leach efficiently but process optimization is expected to continue in to the first quarter of 2008. A further four carbon columns should be loaded by the end of December (and contain approximately 400 ozs of dore) and will be stripped in early January. Leaching is approximately 2 to 3 weeks behind schedule due to staff shortages and disruption caused by the death of Mine Manager Jim Farley (see Press Release dated 3rd December for his replacement). Leaching was initially run on a 12 hour/day basis, but this has now moved to a 24 hour/day operation which will increase the rate of gold leaching from the Vat. In our release of 29th November 2007 it was predicted that 500-700ozs would be available by early December – this will now be achieved at the end of December with the additional gold poured in early January. Vat 2 is now expected to commence leaching in January. At that stage approximately 30,000 tonnes of gold mineralisation will be leaching (as against 6,000 at present) which should result in a major increase in gold poured in February 2008. To achieve the projected gold production rate of 3,000ozs/month it is estimated that approximately 40,000 tonnes of mineralisation will need to be undergoing leaching. This is projected to be achieved in March 2008. The above projections are subject to normal weather conditions at site – significant rain above normal rainfall could delay Vat construction. Because of the nature of the topography, vats will increase in size after Vat 3 is completed as further vats will ultimately be built over Vat 1 and Vat 2. These Vats will be larger due to a widening of the valley above Vat 1 and Vat 2, as elevation is increased. Actual onsite costs at the Sinivit Mine in October, excluding executive management based in Australia, were PNG Kina 1.22 million or approximately US$450,000. Preliminary November costs suggest these costs will be similar to October costs. Administrative costs attributable to Sinivit incurred in the Australian and Vancouver Offices are estimated to add 10% to the above total. These costs are estimated to remain stable for January and could increase by approximately 10% when production of 3,000 ozs/month is achieved. Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. Full details of the Sinivit Project are described in an Independent N1 43-101 report dated January 2006 which is available at www.newguineagold.ca . ON BEHALF OF THE BOARD “R.D.McNeil” The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy 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.
Vancouver - December 3, 2007. New Guinea Gold Corporation (the “Company”) announces the following senior management appointments to strengthen its Papua New Guinea organisation.
“R.D. McNeil”
Introduction The following Management Discussion and Analysis of the Company’s financial position is for the three month period ended September 30, 2007 compared to September 30, 2006. This discussion should be read in conjunction with the attached interim financial statements and related “Notes to the Consolidated Financial Statements” which have been prepared in accordance with Canadian Generally Accepted Accounting Principles (GAAP) and with the audited financial statements and related “Notes to the Consolidated Financial Statements”. This discussion includes certain statements that may be deemed “forward-looking statements”. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing and general economic, market or business conditions. All amounts are stated in Canadian dollars unless indicated otherwise. Additional information regarding the Company is available on SEDAR at www.sedar.com and on the Company’s website at www.newguineagold.ca. The information is current to November 10th, 2007, unless otherwise indicated, and the Company’s auditor has not reviewed the financial statements. The Business and Development Strategy and Corporate Structuring remain essentially the same as outlined in the Management Discussion and Analysis for the year ended December 31st 2006. Please download PDF to view full report.
Prepared by Management In accordance with National Instrument 51-102 released by the Canadian Securities Administrators the Company discloses that its external auditors have not reviewed the unaudited financial statements for the period ended September 30, 2007 in accordance with Section 7050 of the CICA Handbook. Please download PDF to view financial statements.
Vancouver – November 29, 2007. New Guinea Gold Corporation ("NGG" or the "Company") advises that the first gold sales were realized during the third quarter 2007 from the plant commissioning process at the Sinivit Mine. Commercial production has now commenced. Commercial production has commenced and the first commercial vat, Vat 1, is filled with ore and leaching is in progress. Leaching is proceeding well with two carbon columns loaded and solution grades into the columns of the order of 10g/t gold. More than 1,000 ozs gold is expected to be leached from this vat over the next two months, with 500-700 ozs available by early December. The second commercial vat, Vat 2 will contain approximately 21,000 tonnes of ore, and leaching should commence in the near future. Vat 3 is under construction and should be completed in January. Average monthly production will gradually increase to 3,000ozs/month. Further details are available in NGG’s Management Discussion & Analysis for the period to September 30th, 2007 and for a detailed description of the Sinivit. Gold Project refer to the Independent NI 43-101 report dated January 30th 2006, filed on Sedar and on the company’s web site at www.newguineagold.ca
IMWAUNA PROJECT (Normanby Property – 100% NGG) Drilling, using two company owned diamond core rigs has continued at Imwauna with 120 holes now completed. Holes IMH102 to IMH104 were drilled approximately 300 metres north of all previous drill holes and have confirmed that the Imwauna structure extends at least to this location. Although the intersections were relatively narrow, the results are encouraging. Bob McNeil CEO/Chairman commented: “As the Imwauna system has shown, by earlier drilling, to be very variable in grade and thickness, there is a good chance that significant high grade shoots, such as the southern Imwauna high grade zone, will be defined in this section. Drilling is continuing. Deeper holes are also planned to test the depth extension of the previously reported high gold intersection of 5.6m at 36.2g/t gold, including 0.4m at 438g/t gold in the southern part of the Imwauna System.”
True widths are uncertain but approximately 70% to 90% of the drill hole length Results for holes IMH105 to IMH120 are pending. Drill Hole Location Data
Approximately 85% of the potentially mineralised area at Imwauna, based on geochemistry surveys and surface trenching, remains to be tested by drilling. All drill holes are diamond core holes. Samples are half core, cut on site and then dispatched to accredited laboratory ALS – Chemex in Townsville, Australia for preparation and assay. CORPORATE RESTRUCTURE The Company’s two copper-gold-molybdenum properties, Mt Nakru - 75% NGG, 25% Vangold, and Simuku - 90% NGG, 10% W.S. Yeaman, will be listed in Australia as Coppermoly Ltd. NGG would retain a major equity in each new public company after a prospectus financing or IPO. The reason that the Company favors this form of financing is that under the Company’s present financial arrangements the properties in question cannot meet their full potential. Each property has substantial gold and/or copper-molybdenum defined in drill hole and trench and increased exploration expenditure may define a major resource or resources. An IPO allows the Company and/or its shareholders to substantially increase the rate of exploration, realize the potential of the properties, and increase shareholder value. Additional detail is available in the Management Discussion & Analysis as filed on Sedar on 29th November 2007. 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, 47 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.
The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy 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.
Vancouver - October 29, 2007. New Guinea Gold Corporation (the Company) reports that of seven drill holes completed to test possible extensions to the Weioko prospect, Sehulea Property, Papua New Guinea, six holes intersected gold intervals above 0.5g/t gold. The best results are shown below and all results above 0.5g/t gold are given in the accompanying table.
Bob McNeil, CEO and Chairman commented: “these seven holes were drilled to extend our knowledge of the disseminated gold/silver Weioko system with holes drilled peripheral to previous drill holes and to test above a geophysical Induced Polarization (IP) anomaly approximately 500m north and 200m east of the previously drilled Weioko gold mineralisation. The Weioko prospect is part of a five square km area with extensive and numerous soil gold and arsenic geochemical anomalies and several IP anomalies. The present results are certainly encouraging as they continue to expand our knowledge of this large disseminated and vein gold system, however comprehensive drill testing to define an NI 43-101 resource is unlikely to commence until later in 2008 as cash flow funds become available from the Sinivit Mine.”
Background
The Weioko gold project is a key Company gold project, is part of the Sehulea Property (NGG – 100%) which is situated on Normanby Island in Milne Bay Province and adjoins the Normanby Property which contains the Imwauna Project. For details of all drill results, geology etc refer to the NI 43-101 report at www.newguineagold.ca . To date 29 Reverse Circulation holes and 23 Diamond Core holes have defined extensive gold mineralisation to depths of up to 100m over an area of 400m by 200m. No current NI 43-101 resource has been estimated but such a resource may be available late in 2008.
The key points which make this property attractive are:
DRILL INTERSECTIONS ABOVE 0.5g/t GOLD
DRILL HOLE LOCATION DATA
Updates on the Sinivit and Imwauna Projects are expected to be issued in the near future.
Samples are generally 1m long or sampled on a geological basis, one half core cut on site with sample preparation and assaying completed at accredited laboratory ALS – Chemex in Townsville Australia.
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, 47 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 toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O’Quinn at 604 662 3598, email ngg@telus.net On behalf of the Board of “Robert D. McNeil” The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news 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.
Vancouver - October 26, 2007. New Guinea Gold Corporation (the “Company”) is pleased to report that, in keeping with its stated objectives to focus on gold production and exploration, specifically Sinivit in East New Britain, and the Normanby and Sehulea properties on Normanby Island, that the Company has transferred two copper properties (Simuku and Mt Nakru) to a newly formed Australian Company known as Coppermoly Ltd, (“Coppermoly”). Coppermoly is undertaking an Initial Public Offering in Australia and has lodged a prospectus with ASIC, the Australian regulatory authority, and is expected to list on the Australian Stock Exchange (see www.asx.com.au) at the end of this year. The IPO for Coppermoly Ltd is sponsored by Australian Brokers, Novus Capital and South Pacific Securities and London broker VSA Capital. This prospectus has been issued for the purposes of offering up to 80,000,000 shares at AUD$0.25 each and to raise up to AUD $20 million before costs. Company Chairman and CEO Robert McNeil who has joined the Coppermoly Board as non-executive Chairman commented: “this is a step in the Company’s ongoing strategy to develop its extensive inventory of mining properties in PNG without the necessity of shareholder dilution to the Company while, at the same time, maintaining the Company’s primary focus on its gold production and gold assets, and securing shareholder and Company exposure to potential upside value as a result of further exploration efforts on these properties”. The Company has been issued 29,473,683 shares in Coppermoly and has a further indirect interest in 10,526,316 shares issued to Pacific Kanon Gold Corporation, giving it an effective, approximate, 27% interest in Coppermoly after the IPO. As stated above, the Simuku and Mt Nakru copper/molybdenum properties have been divested to Coppermoly (www.coppermoly.com.au) to allow the Company to focus on development of its gold assets. The divested properties have merit as copper/molybdenum prospects and are ultimately expected to contribute to the Company’s balance sheet through its shareholding in Coppermoly. 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, 47 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 of “Robert D. McNeil” The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news 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.
Vancouver - October 15, 2007 New Guinea Gold reported today that it had closed on a previously announced (September 26, 2007) Private Placement of 2,500,000 units at a price of $0.50 per unit to raise gross proceeds of $1,250,000. Each unit consisted of one share and one-half share purchase warrant. One whole warrant entitles the holder to acquire one additional common share at an exercise price of $0.65 for a period of two years from the closing. The warrants expire October 11, 2009. All securities issued in the Private Placement are subject to resale restrictions expiring on February 12, 2008. The Company paid a finders fee to Bolder Investment Partners, Ltd. consisting of 7% in cash ($87,500) and 7% in finders warrants (175,000 finders warrants) with each warrant having the same terms as those in the Private Placement. The entire placement was subscribed for by Sprott Asset Management Inc. on behalf of its various funds. The proceeds of the placement will be used for advancement of the Sinivit Mine in Papua New Guinea and for working capital. For further information please contact Forbes West at 888-655-5532, forbes@sherbournegroup.ca or Judith O’Quinn @ 604-662-3598, ngg@telus.net. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this news release. ON BEHALF OF THE BOARD “Judith O’Quinn”
September 26, 2007 - Vancouver, BC – New Guinea Gold Corporation ("NGG"). ("NGG" or the "Company") wishes to announce a non-brokered private placement on the following terms: The non-brokered private placement will consist of 2,500,000 units (the “Units”) at a price of $0.50 per Unit. Each Unit will consist of one common share (a “Share”) and one-half non-transferable, common share purchase warrant (a “Warrant”). One whole Warrant will entitle the holder to acquire one additional common share at a price of $0.65 for a period of two years from the date of closing. A finder’s fee will be paid to Bolder Investment Partners Ltd. (“Bolder”) consisting of the following: A cash commission of 7% of the gross proceeds of the Offering; and the issuance to Bolder on completion of the Offering of share purchase warrants (“Compensation Warrants”) equal to 7% of the number of Units sold pursuant to the Offering. Each Compensation Warrant will be exercisable to acquire one common share of the Company for a period of two years from the date of closing at a price of $0.65 per share. Proceeds of the placement will be used to accelerate mine development at Sinivit and general corporate purposes and is subject to regulatory approvals. For Futher information please contact Judith O’Quinn at 604-662-3598, e-mail: ngg@telus.net or Forbes West (toll free) 1-888-655-5532, e-mail : forbes@sherbournegroup.ca . On behalf of the Board of “Judith O'Quinn” The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news 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.
September 17, 2007 - Vancouver, BC – New Guinea Gold Corporation ("NGG"). ("NGG" or the "Company") reports that further drilling continues to define wide intersections of high grade gold within the confines of the Southern Oxide Pit. Some of the better intersections are shown below and all intersections above a cut off of 0.5g/t are listed in Table 1.
Note:
Bob McNeil, CEO and Chairman commented: “This drilling program of 119 holes has defined a previously unknown high grade gold zone within the resource (and proposed pit) which extends over a length of 80m between 9852N and 9930N, varies up to 10m in width, extends to the surface in part and below the limit of drilling at 30m, also in part. Individual intersections are not true widths as gold appears to occupy a steeply dipping zone”. TABLE 1
TABLE 2
All drill holes are Reverse Circulation. Samples are bulked in two metre intervals, partially prepared on site by splitting to approximately 4 kgs in weight each, then dispatched to accredited laboratory ALS – Chemex in Townsville, Australia for further preparation and assay. Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. 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, 45 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. To find out more about New Guinea Gold Corporation please visit our website at www.newguineagold.ca or contact Forbes West (toll free) 1-888-655-5532, e-mail : forbes@sherbournegroup.ca or Judith O’Quinn at 604-662-3598 e-mail: ngg@telus.net On behalf of the Board of “Robert D. McNeil” The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news 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.
Vancouver – 14th September, 2007. New Guinea Gold Corporation ("NGG" or the "Company") reports that assay results of the gold dore reported in Press Release dated 7th September 2007 have increased the gold content of the dore by approximately 20% from 60% of the dore to just under 73% of the dore. The gold content of the dore was originally estimated at 2,119g. This has been increased after assay by 445g to 2,564g (approximately 82 ozs). A further payment of PNG Kina 27,364.35 has been received, taking the total payment for this initial gold sale (after all buyer costs) to approximately PNG Kina 158,000.00, or approximately CAD$62,000.00. Bob McNeil, CEO and Chairman commented: “This is a pleasing result and although the total payment or gold sale is still relatively small, this initial gold is only the result of leaching from two small vats from the plant commissioning stage. Commercial production has now commenced with the mining of, and loading into Vat 1 (first commercial vat) of high grade gold mineralisation recently defined (see Press Released dated 13th August 2007) in grade control drilling within the confines of the southern oxide pit. Further drill results are expected to be released in the near future.” Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. 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, 45 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. To find out more about New Guinea Gold Corporation please visit our website at www.newguineagold.ca or contact Forbes West (toll free) 1-888-655-5532, e-mail : forbes@sherbournegroup.ca or Judith O’Quinn at 604-662-3598 e-mail: ngg@telus.net On behalf of the Board of “Robert D. McNeil”
September 10, 2007 - Vancouver, BC – New Guinea Gold Corporation ("NGG"). The Boards of joint venture partners New Guinea Gold Corporation ("NGG") and VAN are pleased to announce that their jointly controlled company, Pacific Kanon Gold Corp. ("PKG"), filed a preliminary prospectus on August 31, 2007, in connection with its public offering (the "Offering"). NGG and VAN each hold half of a 90% equity interest in PKG. The Offering will be conducted through PKG's agent, Bolder Investment Partners, Ltd. (the "Agent") and will consist of a minimum of 17,500,000 units (the "Units") and up to a maximum of 25,000,000 Units at a price of $0.40 per Unit to purchasers resident in British Columbia, Alberta, Manitoba and Ontario. Each Unit is comprised of one common share (the "Shares") of PKG and one-half of a transferable share purchase warrant, a whole such warrant (a "Warrant") entitling the holder to purchase one common share (the "Warrant Shares") of PKG at a price of $0.50 per Warrant Share for a period of 12 month following the issue of the Units, subject to acceleration upon the occurrence of certain events. The Offering is subject to certain conditions, including regulatory and TSX Venture Exchange approval. The preliminary prospectus may be viewed at www.sedar.com. PKG will use the proceeds of the Offering, following the payment of all fees and costs associated with the Offering, to fund exploration programs on five gold projects and one copper-gold project in Papua New Guinea. Under the terms of a previous share purchase agreement, PKG purchased all the shares of Kanon Resources Ltd. ("KRL"), a Papua New Guinea company holding interests in the six projects. Several of the projects are considered to be in advanced stage of exploration, having gold and copper mineralization already defined in drill holes or trenches. The properties are referred to as Mt. Penck, Bismarck, Yup River, Fergusson, Allemata and Mt. Nakru. Mt. Penck (owned 80% KRL and 20% NGG) is the most advanced exploration property and the material property of the Offering. Bob McNeil, Chairman and CEO of NGG and Dal Byrnelsen, President and CEO of Vangold commented: “The Mt Penck property is the key property at present in the KRL and ultimately the PKG portfolios and an exploration program to define a NI 43-101 resource will re-commence as soon as financing arrangements are completed. We would also like to highlight for shareholders that very high grade gold results were recently announced in a hand dug trench in a previously relatively unexplored part of Mt Penck property. This trench, which is partly along strike of the mineralised zone returned 24m at 34g/t gold including a 3m interval which averaged 180g/t gold. Mt Penck is a very exciting property”. To find out more about New Guinea Gold Corporation please visit our website at www.newguineagold.ca or contact Forbes West (toll free) 1-888-655-5532, e-mail : forbes@sherbournegroup.ca or Judith O’Quinn at 604-662-3598 e-mail: ngg@telus.net On behalf of the Board of “Robert D. McNeil”
Vancouver – 7th September, 2007. New Guinea Gold Corporation ("NGG" or the "Company") reports that all aspects of the commissioning of the Sinivit mine have been successfully completed and expects to move to full production of approximately 3,000 ozs gold/month later in the fall. 3.65kg of dore (includes gold, silver and slag) were poured after stripping of current gold on carbon. It is expected that this dore is approximately 60% gold or about 2.2 kg of gold. The initial gold was produced from two small commissioning Vats, Vats 1A and 1C. Vat 1C is still leaching with gold being adsorbed in the carbon columns. A further pour is expected in the near future. The initial dore was sold to Italpreziosi South Pacific Ltd, as is, based on an initial estimate of contained gold of 2119g for PNG Kina 130,324 or approximately CDN $52,000. A further payment is expected if assay checks confirm that the above estimate underestimates the actual gold content. Although this is a relatively small payment, it is a significant milestone in the history of NGG. The Company expects to become cash flow positive by year end. Commercial Scale Production Larger scale production will commence in the near future at Vat 1, the first of the production vats which has now been completed and lined. See photos below. Blasting, mining and crushing of high grade ore (see recent Press Releases for drill assay results of this zone) is well advanced. Vat 1 (approximately five times the size of the existing vat 1A) is to be filled with leaching of gold expected to commence within three weeks. Vat 1, illustrated in photos below, showing the lining of the vat, as completed, with the people providing an indication of the size of the vat. Construction of Vat 2 (approximately 20 times the size of the original vats) is completed and lining is now commencing. Construction of Vat 3 (see also below) has commenced.
Sinivit Exploration In regard to current drilling, both the RC rig and diamond core rig are drilling ahead. Some hundreds of samples are currently awaiting compilation or assay and will be released as compilation of each batch is completed. A brief description of the Sinivit operation is as follows: The process from mining to production of gold bars is as follows: Gold mineralisation is mined by open pit methods and crushed to less than 10mm. Prior to mining the mineralisation to be mined is defined by R.C. or blast hole drill holes so that gold mineralisation can be separated from waste. Mining, grade control and crushing have all been successfully commissioned.
Vats 1A and 1C were small vats constructed to facilitate plant commissioning. Leaching of Vat 1C continues but Vat 1A has now been incorporated into the new larger Vat 1. Vat 1A contained approximately 1,600 tonnes of low grade mineralisation and Vat 1C approximately 3,500 tonnes of low grade mineralisation. Leaching is currently proceeding to expectations and gold is being adsorbed on to carbon in the carbon columns. Actual recovery rates from the vats appear to be as predicted and the leaching circuit is operating satisfactorily. A review of the operation by an independent expert at the end of the last quarter concluded that, with additional earthmoving equipment (now on site), there was no impediment to achieving full production in the fourth quarter of 2007. Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. Fall Roadshow to Commence RD McNeil, Chairman and CEO will travel to Singapore 11th and 12th September presenting NGG at Mine Exploration and Investment Asia, (www.ibc-asia.com). Thereafter Mr. McNeil will travel to London, Toronto and Vancouver to meet with investors.
The initial Sinivit gold dore is shown, with left to right – Kepas Wali, Managing Director of the Mineral Resources Authority of Papua New Guinea, Ces Iewago, Director of NGG and Bob McNeil CEO and Chairman of NGG. 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, 47 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 toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O’Quinn at 604 662 3598, email ngg@telus.net 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 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.
Vancouver 15th August 2007. New Guinea Gold Corporation (NGG) is pleased to report further drill results from its 100% owned Imwauna Project within the Normanby Property in Papua New Guinea. Results from holes IMH98 to IMH101, above a cut off of 0.5g/t gold, are listed below. The highest result was 87.5g/t over a relatively narrow interval of 0.1m within a wider zone of 0.55m at 19.88g/t gold. The longest interval in the above holes was 5.9m at 4.92g/t gold at about 90m vertical depth in hole IMH101.
SUMMARY ASSAY RESULTS
DRILL HOLE LOCATION DATA
Note: True thickness of intersections is uncertain but likely to be between 70 & 100% of the intersected length. The above holes are fill-in holes in the central part of the Imwauna Vein system between the northern and southern high-grade zones. The results are essentially as expected and prove continuity of the system, albeit over narrower and/or lower grade vein widths. Drilling has been slow over the past two months due to equipment breakdown and the need to train additional drillers (resulting in only one shift on each drill rig). These problems have been rectified and the drills are now drilling ahead on hole IMH108 and at Ebessowa. Drilling is now testing a new zone some 500m North of most northerly previously drilled holes. Deep drill holes beneath the Imwauna system will be scheduled in the near future. The second drill has completed five holes at the Ebessowa vein system, approximately one kilometre north of the Imwauna system. Results are pending. Eight holes have been completed at the Weioko prospect, Sehulea Property adjacent to Imwauna and results will be released when they have all been received. Half core from four holes was delayed in transit to the laboratory, and final assays are not expected for four weeks. Samples are generally one metre, or sampled on a geological basis, one half core prepared on site using a diamond saw. Preparation and assaying was completed at accredited laboratory ASL-Chemex in Townsville, Australia. For further information contact Forbes West toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O’Quinn at 604 662 3598, email ngg@telus.net 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, 45 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 The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
August 13th, 2007 - Vancouver, BC. New Guinea Gold Corporation ("NGG" or the "Company") reports that further drilling within and adjacent to the resource at Sinivit continues to define both good gold grades and continuity to the mineralisation. Eighty one holes have now been completed. In addition to gold, several holes intersected significant copper, such as 2m at 1.68% copper in hole 56; 4m at 1.8% copper in hole 60; 2m at 2.62% copper in hole 66; 6m at 2.68% in hole 72. These copper intersections contain 0.6 to 13g/t gold but the higher gold grades generally contain only low copper (less than 100ppm). The significance of the copper for the longer term future of the Sinivit mine will not be confirmed until deeper drilling is completed. The highlights of the gold intersections are shown below with all results and hole data in Tables 1 and 2.
Mr Bob McNeil CEO of NGG commented: “These results are as expected and continue to confirm both the grade and continuity to the gold mineralisation at Sinivit. Some of the holes were drilled to define the boundary of the gold mineralisation and were not expected to contain significant gold. The significant copper may prove a substantial bonus in the future if or when mining proceeds to mine and process the gold sulphide mineralisation at depth. In the short term high grade copper mineralisation of up to 6m at 2.68%copper and 3.03g/t gold will be stockpiled. Further drill results are expected in the near future. The Sinivit mine continues as planned with good gold leaching from Vat 1C. The next, larger, vat will commence processing in the near future. ” Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. TABLE 1
TABLE 2
All drill holes are Reverse Circulation. Samples are bulked in two metre intervals, partially prepared on site by splitting to approximately 4 kgs in weight each, then dispatched to accredited laboratory ALS – Chemex in Townsville, Australia for further preparation and assay. ALS-Chemex insert “blank” quartz sand between each sample to clean the pulveriser and ensure there is no contamination between successive samples. For further information contact Forbes West toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O’Quinn at 604 662 3598, email ngg@telus.net 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, 45 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
July 7th, 2007 - Vancouver, BC. New Guinea Gold (NGG:TSX-V) is pleased to announce that the first gold dore bar has been poured at the Sinivit gold mine in Papua New Guinea. The pour is shown in the photograph below or see the Company’s web site newguineagold.ca . Bob McNeil, Chairman and CEO states: “I’m pleased to report that all aspects of the mining and processing circuit at the Sinivit Mine have now been commissioned. Over the next several months, the various circuits will be fine tuned, with gold production gradually increasing to an expected annualised production rate of 35,000 ozs gold by October 2007. In the meantime, the Company is continuing exploration activities on Sinivit as well as other of its key properties, with the objective of increasing gold resources”.
Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. 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, 45 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 toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O’Quinn at 604 662 3598, email ngg@telus.net On Behalf of the Board R D McNeil
June 18th, 2007 - Vancouver, BC. New Guinea Gold Corporation's (NGG:TSX-V) Annual Meeting was held in Vancouver on June 15. The meeting was followed by a slide presentation by Bob McNeil, Chairman and CEO, and conference call.
June 14th, 2007 - Vancouver, BC. Fundamental Research Corp. analysts Michael Casserly, MBA, Sid Rajeev, MBA, and research associate Martha Buckwalter-Davis, BA (Geology), have released an update on New Guinea Gold Corp. (TSX.V: NGG) entitled "Update on Production and Exploration at Sinivit and Imwauna" and dated June 12, 2007. The full report is now available on Fundamental Research Corp's website www.researchfrc.com. On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
To attend one of these presentations, or for further information contact Forbes West toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O'Quinn at 604 662 3598, email ngg@telus.net On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
June 5th, 2007 - Vancouver, BC. New Guinea Gold Corporation ("NGG" or the "Company") reports that the vat leach and gold recovery to activated carbon has been successfully commissioned, but mechanical problems with the elution circuit prevented the first gold pour being completed last week. Leaching of gold from the vat, and adsorption of gold to carbon in carbon columns is continuing, but gold is now unlikely to be produced in dore bar form for several weeks.
Mr McNeil CEO and Chairman of NGG commented "although disappointing in that we did not achieve a gold pour by the end of May, the breakdown in the elution circuit should only be temporary and in the meantime gold inventory is continuing to build up on carbon in the carbon columns. Gold production and cash flow in the longer term should not be affected". On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
INVITATION
May 15th, 2007 - Vancouver, BC. New Guinea Gold Corporation (NGG) reports further drill results from its 100% owned Imwauna Project within the Normanby Property in Papua New Guinea. All results above a cut-off of 0.5g/t gold are shown in the table below. Drill Hole Location Data
True widths of intersections are estimated to be between 70 and 90% of the intervals above. On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
May 14th, 2007 - Vancouver, BC. New Guinea Gold Corporation ("NGG" or the "Company") reports that the remaining results from the initial grade control program continued to define additional high grade gold within the confines of the southern oxide pit at Sinivit. The Sinivit project is in East New Britain Province, Papua New Guinea, and NGG has an effective 92% interest.
Samples are partially prepared on site by splitting to approximately four kilograms in weight, then dispatched to accredited laboratory ALS-Chemex in Townsville, Australia for further preparation and assay. On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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. APPENDIX Drill Hole Assay and Location Data
Drill Hole Location Data
April 30th, 2007 - Vancouver, BC. New Guinea Gold Corporation ("NGG" or the "Company") announces that mining and processing of gold mineralization from the Sinivit Mine has commenced. Project development has been completed at site and initial process plant commissioning commenced in April 2007 with first gold pour expected in May 2007. Vat 1A is full and processing is underway - mineralisation remains in vat for several weeks until gold is dissolved and the gold is then precipitated onto activated carbon, further processed by electrowinning and gold dore is finally recovered after smelting in a furnace. Vat 1B is expected to be filled in May 2007 from stockpiled, crushed mineralisation Production is expected to gradually increase over the next six months to a monthly gold rate of approximately 3,000 ozs (35,000 ozs on an annual basis; see Press Release dated 31 January 2006). Bob McNeil CEO/Chairman has just returned from a five day visit to site. During this period the Papua New Guinea Chief Mining Engineer, Mr Howard Lole and the Corporate Relations Manager for the Bank of South Pacific Mr Ron McDonald also visited the site. Mt McNeil stated "Mining has commenced from the Northern oxide pit. The crushing circuit is operating above expectations and crushed ore is presently being stockpiled to allow Vats 1B and Vat 1 to be filled as soon as they are completed. Stripping of waste is well advanced in several parts of the southern oxide pit and mining of gold mineralisation in this pit will commence in the near future. Vat construction will continue now throughout the life of the mine, with Vat 1B being filled and processed in late May, followed by Vat 1 in June or July. Initial mineralisation to the vats is expected to grade approximately 3g/t to 4g/t gold with the higher grades announced recently (Press Release dated 5th April 2007) being accessed in the third and fourth quarters of 2007. Lower grades are used in the initial vats and processing to ensure all aspects of the processing circuit are operating satisfactorily. Infrastructure, office and accommodation is now complete with approximately 90 persons resident on site. The contractor's mining equipment and maintenance facility is operating satisfactorily. In summary Mr McNeil said: "I am pleased with the progress at site, and to be able to report that the project is moving ahead as expected. We have a dedicated and supportive work force at site and I take this opportunity to thank them for their support during the construction phase." Current photo's of site operations as at 18th April are shown below: More photo's will be displayed on the web site under Sinivit Project, at www.newguineagold.ca later this week. Investors are cautioned that the development of Sinivit is proceeding in the absence of a full feasibility study. These evaluations are preliminary in nature and are based entirely on indicated mineral resources, which have not been categorized as mineral reserves. There is no assurance that the operating and financial projections in the preliminary assessment will be realized. Mineral resources that are not reserves do not have demonstrated economic viability. Measured and indicated mineral resources are that part of a mineral resource of which quantity and grade can be estimated with a level of confidence sufficient to allow the application of technical and economic parameters to support mine planning and evaluation of the economic viability of the deposit. An inferred mineral resource for which quantity and grade can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified. 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, 45 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 toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O'Quinn at 604 662 3598, email ngg@telus.net. On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
April 30th, 2007 - Vancouver, BC. New Guinea Gold Corporation (" NGG" or the "Company") announces that it has closed the second tranche of a private placement arranged through its agent, Bolder Investment Partners, Ltd. ("Bolder" or "The Agent") in an offer (the "Offer" or the "Offering"), of up to 12,000,000 units of the Company at $0.42 per unit (the "Units") to raise up to $5,040,000. The first tranche of the private placement formally closed with the issuance of 10,112,500 Units for gross proceeds of $4,247,250 and was announced in a press release dated March 23, 2007. Gross proceeds from the second tranche amount to $792,750 with the issuance of 1,887,500 units. On Behalf of the Board Judith O'Quinn The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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.
April 5th, 2007 - Vancouver, BC. New Guinea Gold Corporation ("NGG") continues to define high grade, near surface gold, at the Sinivit Project, Papua New Guinea. NGG has an effective 92% interest in the Project. Grade Control Summary Assay Data
Complete assay results and hole location data for all 59 holes are attached as an appendix. Central Zone Assay Summary - Total Trench Length 74m
Northern Zone Assay Summary - Total Trench Length 36.80m
All the assay data has been loaded into the geological database and ore block interpretation using Surpac Vision mining software is in progress. On Behalf of the Board R D McNeil The TSX Venture Exchange has not reviewed and does not accept the responsibility or the adequacy 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. APPENDIX Detailed Assay Data
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Gold production and other mine statistics will be issued quarterly commencing with the end of the September quarter.
