New Guinea Gold Corporation

New Guinea Gold Corporation

July 05, 2011 09:30 ET

New Guinea Gold Announces Appointment of New Acting CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 5, 2011) - New Guinea Gold Corporation ("New Guinea Gold" or the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) is pleased to announce the appointment of Mr. Greg Heaney of Brisbane, Australia as Acting Chief Executive Officer ("CEO") effective July 4, 2011. Mr. Heaney brings over 28 years of experience in senior level financial and management roles from the mining industry and management consulting sector. He has extensive experience in finance, mergers and acquisitions, investor relations and public reporting. He has had mining industry specific experience with a major engineering consulting and contracting firm.

Mr. Ces Iewago, Chairman of the Board, commented; "Mr. Heaney has a very strong financial background in the mining industry and we are very pleased to have him join the Company in the CEO role. With his experience and financial skills, he is bringing very valuable assets to New Guinea Gold."

Mr. Heaney will initially assume the interim CEO role for three months during which period the Board and Mr. Heaney will review the terms of his continuation as CEO for the longer term.

About New Guinea Gold Corporation

New Guinea Gold is a premier junior explorer and miner in Papua New Guinea, with direct and indirect interests in eight gold and two porphyry copper-gold-molybdenum properties. With 90,000 + metres of drilling completed, gold or copper-gold-molybdenum mineralization has been discovered on all of the properties. The Company's premier property, the Sinivit Mine, has been producing gold since August 2007 and the Company is focused on expanding the exploration program, increasing production from the mine and developing the gold, copper and tellurium resources.

For further information on this release or other NGG projects such as the Sinivit gold mine, please contact or access our website:


Colin McKenzie, Director

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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