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New Guinea Gold: Further Drilling Expands Central Oxide Zone at Sinivit

Posted on: Monday, 8 September 2008, 09:00 CDT

New Guinea Gold Corporation (TSX VENTURE: NGG)(FRANKFURT: NG8) -

A further three Reverse Circulation drill holes within the Central Oxide Zone at Sinivit encountered oxide gold mineralisation with the best result of 6m at 21.5g/t gold. All results are shown below:

 ----------------------------------------------------------------------- ----- ----------------------------------------------------------------- ----------- Hole No          From (m)         To (m)         Length (m)        Gold g/t ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- CGC069                 4             14                 10              5.9 including             10             12                  2             16.3                       22             24                  2              1.3 ---------------------------------------------------------------------------- CGC070                 4             24                 20              8.0 including              8             14                  6             21.5 ---------------------------------------------------------------------------- CGC071                 8             24                 16              3.1 including             14             16                  2             10.2 ---------------------------------------------------------------------------- ----------------------------------------------------------------------------                Note: True thickness of intersections are unknown. 

Drill hole location data is shown below:

 ----------------------------------------------------------------------- ----- ----------------------------------------------------------------- -----------                                                 Grid          Cross   Total Drill    Northing   Easting       RL       Dip   Azi- Line  Section   Depth Hole      (metres)  (metres) (metres) (degrees) muth    No Northing (metres) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- SCG0069  9993.182  50018.62  902.076       -60    90    37    9996N      30 ---------------------------------------------------------------------------- SCG0070   9990.47  50016.41  902.236       -60    90    36    9990N      30 ---------------------------------------------------------------------------- SCG0071  9987.295  50013.07  902.744       -60    90    36    9990N      30 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 

Bob McNeil, Chairman and CEO commented: "Drilling in the Central Oxide Zone continues to encounter near surface, excellent grade oxide gold mineralisation. These results are significant in that original resource drilling defined gold at depths below 30m, but because of difficult access, no shallow holes were completed. Recent drilling now indicates that gold mineralisation does extend to the surface".

All samples are partly prepared at site by splitting to 500 grams. Further preparation and analysis is completed at accredited laboratory, ALS Chemex laboratories, in Townsville, Queensland, Australia.

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.

For additional details of the Sinivit deposit see Independent NI 43-101 report dated January 2006 at www.newguineagold.ca.

The information in this release was prepared under the direction of Robert D. McNeil a Fellow of the Australia Institute of Mines and Metallurgy and a "qualified person" as defined by National Instrument 43-101. Mr McNeil has read and approves the information contained herein.

For further information on this release or on other NGG projects such as the Sinivit Gold Mine, 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 or access our website - www.newguineagold.ca.

ON BEHALF OF THE BOARD

R.D.McNeil, CHAIRMAN & CEO

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.

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy of this release.

 Contacts: New Guinea Gold Corporation Forbes West Toll Free: 1-888-655-5532 Email: forbes@sherbournegroup.ca  New Guinea Gold Corporation Judith O'Quinn (604) 662-3598 (604) 669-6257 (FAX) Email: ngg@telus.net Website: www.newguineagold.ca

SOURCE: New Guinea Gold Corporation

Source: MARKET WIRE

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