January 18, 2010 13:49 ET

New Island Provides Update on its Glover Island and Pine Cove properties

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Jan. 18, 2010) - New Island Resources Inc. (New Island) (TSX VENTURE:NIS) of St. John's, NL reports that its option agreement with Crew Gold Corporation (Crew) covering its large Glover Island property has been terminated. As a result clear title to 100% of the property now resides with New Island.

The Company is pleased with this development given that Crew was unable to further advance the property and it now places the Company is a position to negotiate with other prospective joint venture partners, which has commenced.

The Company also advises that it met with Anaconda Mining Inc. on January 14th and is currently assessing its position with respect to the sharing of revenue from the Pine Cove property.

Statements contained in this release that are not historical facts are forward-looking statements, which involve known and unknown risks and uncertainties not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied by these forward-looking statements.

"Neither the 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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