NEW ISLAND RESOURCES INC.
TSX VENTURE : NIS

NEW ISLAND RESOURCES INC.

February 18, 2010 13:41 ET

New Island Resources Inc.: Notice of Arbitration

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 18, 2010) - New Island Resources Inc. (New Island)(TSX VENTURE:NIS) of St. John's, NL wishes to advise that it has today initiated arbitration proceedings with Anaconda Mining Inc. concerning Anaconda's accounting of the proceeds of ore processed pursuant to a custom milling agreement by and among New Island and Anaconda Mining Inc., together with matters related thereto.

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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