New Guinea Gold Corporation
TSX VENTURE : NGG
FRANKFURT : NG8

New Guinea Gold Corporation

August 18, 2010 10:30 ET

New Guinea Gold Appoints Michael Reynolds to Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2010) - Bob McNeil, Chairman and CEO of New Guinea Gold Corporation ("NGG" or the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) announced that that Michael W. Reynolds has been appointed to the Board of Directors.

Mr. Reynolds is the managing director of Swiss-based Aries Asset Advisors where he specializes in the establishment, organization and marketing of offshore hedge fund products. Prior to founding Aries, Mr. Reynolds was involved extensively in investment banking, corporate finance and institutional sales with Canaccord Capital Inc. During Mr. Reynolds 20 years with Canaccord he served as a key member of the Institutional Equities Group and raised over a billion dollars of capital for emerging companies in the field of life sciences, technology and mining.

Bob McNeil commented: "On behalf of shareholders, I am pleased to welcome Mike Reynolds to New Guinea Gold. Mike's expertise in capital markets will be of significant value to NGG as we move ahead, and we look forward to a long and beneficial relationship.

Mr. Reynolds succeeds Wayne Johnston who has stepped down from the Board, but remains Chief Operating Officer, based in PNG. "I extend the thanks of the Board to Wayne for his many contributions," said Mr. McNeil.

Following Mr. Reynolds appointment, the Board of New Guinea Gold will have one executive director and five non-executive directors.

For further information on this release or on NGG projects, contact Forbes West toll free at (888)6555532, email forbes@sherbournegroup.ca, info@newguineagold.ca, or access our website – www.newguineagold.ca.

ON BEHALF OF THE BOARD

R.D.McNeil, CHAIRMAN & CEO

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of NGG, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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