New Guinea Gold Corporation
TSX VENTURE : NGG
FRANKFURT : NG8

New Guinea Gold Corporation

June 30, 2011 09:48 ET

New Guinea Gold Announcement: Significant Credits of Silver, Bismuth, Molybdenum, Tellurium and Copper Defined in Kavursuki Hole KUD025, Sinivit Project, Papua New Guinea

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2011) - New Guinea Gold Corporation ("NGG" or the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) reports that Kavursuki Hole KUD025 was selected for multi element analysis to determine the level of other potentially economic metals such as silver, bismuth, molybdenum, tellurium and copper. Hole KUD025 intersected 29.2m at 5.79g/t gold including 5.25m at 27.15g/t gold (results released April 19, 2011). Hole KUD025 was selected as it appeared to, at least partly, represent the transition and sulphide zones at Kavursuki.

The results are given in the table below:

Kavursuki Hole KD025 multi-element results
Hole
No
From
(m)
To
(m)
Length
(m)
Gold
(g/t)
Silver
(ppm)
Bismuth
(ppm)
Molybdenum
(ppm)
Tellurium
(ppm)
Copper
(ppm)
KUDO25 0 29.2 29.2 5.79 24 94 376 203 939
including 14.75 20.00 5.25 27.15 96 278 1242 756 5608

The above results are noted in parts per million which equates to grams/tonne. The results for the section 14.75m to 20m in the table in percentage terms would be as follows: silver 0.01%, bismuth 0.03%, molybdenum 0.12%, tellurium 0.08% and copper 0.56%.

Bob McNeil, consultant geologist, commented: "these results appear to be very significant. They confirm that the gold oxide zone at Kavursuki is underlain by a sulphide zone similar to that at Sinivit. The assay levels of molybdenum at 0.12%, tellurium at 0.076% and copper at 0.56% are very encouraging and provide further evidence that the Sinivit/Kavursuki and Magiabe Zones are part of a significant gold/copper system which could contain credits in silver, bismuth, molybdenum and tellurium. I would refer the reader to our Press Release dated May 5, 2011 for the development plan for the Sinivit area as recommended by Mining Associates Pty Ltd."

Drill core is logged and split (all by saw) on site with half core being dispatched to, and assayed by accredited laboratory ALS–Chemex in Townsville, Australia.

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

Full details of Sinivit are described in an Independent National Instrument 43-101 report dated January 2006 which is available at www.newguineagold.ca.

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

ON BEHALF OF THE BOARD

Ces Iewago, Acting 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.

Contact Information