New Guinea Gold Corporation
TSX VENTURE : NGG
FRANKFURT : NG8

New Guinea Gold Corporation

July 09, 2008 12:00 ET

New Guinea Gold Appoints Gary Edwards as Director and Paul Schultz as Chief Financial Officer

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2008) - Bob McNeil, Chairman and CEO of New Guinea Gold Corporation (the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) wishes to announce the appointment of Garry Edwards as a Director of the Company and Paul Schultz as Chief Financial Officer. Judith O'Quinn will remain Corporate Secretary and a Director of the Company.

Garry Edwards holds a Master of Business Administration (2005) and is a Fellow of the Australian Institute of Company Directors and National Institute of Accountants (Australia). For the last 13 years Garry has been involved with exploration and mining companies listed in Australia and Canada with operations in Australia and Papua New Guinea. Mr. Edwards holds or has held positions as CEO, Director, Company Secretary and CFO in those companies. Prior to 1995, Garry spent 15 years working in Papua New Guinea, the last 11 for KPMG and antecedent firms. From 1987 to 1995 he managed KPMG's Arawa and Rabaul offices. "I'm pleased that Garry Edwards has accepted our invitation to join the NGG board," said Bob McNeil. "His experience in exploration and mining in the Pacific region will add value for New Guinea Gold and its shareholders.

Paul Schultz holds a Bachelor of Business (Accounting) and is a Member of Certified Public Accountants - Australia. He joined NGG Corporation's parent company, Macmin Silver Ltd (ASX), in December 2005. Prior to joining Macmin, Paul spent 10 years working as a partner and manager in public accounting practices. Paul is also CFO for Macmin Silver Ltd.

Judith O'Quinn comments, "During the past two years NGG has progressed from an advanced-stage exploration company to gold producer status. With substantially increased expenditures and activities, I could see our need for a person to oversee on-the-ground, day-to-day financial operations and transactions. This would require the co-ordination of financial documentation from Papua New Guinea and Australia, where 95% of the transactions occur, and the Vancouver office, which provides the local administrative, legal and regulatory support for our Canadian TSX-V listing. Paul Schultz, working from our Australian office in Queensland, has proved himself to be highly capable in providing NGG with management of its financial reporting obligations since 2006, including budgets, cash flow projections, quarterly reports and co-ordination of the annual audit function. I am very pleased that Paul has accepted the CFO position within our company."

Bob McNeil says "I thank Judith for her many significant contributions to the Company over the past 12 years and in the CFO position since May 1998. We will continue to appreciate her contributions as Corporate Secretary and Director. Together with the rest of our Board Members, we both look forward to Paul Schultz's leadership in the finance function."

For further information on this release or on other NGG projects , contact Forbes West toll free at 888 655 5532, email forbes@sherbournegroup.ca or Judith O'Quinn at 604 662 3598, email ngg@telus.net or access our website - www.newguineagold.ca

ON BEHALF OF THE BOARD

R.D.McNeil, CHAIRMAN & CEO

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy of this release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

Contact Information

  • New Guinea Gold Corporation
    Forbes West
    Toll Free: 1-888-655-5532
    or
    New Guinea Gold Corporation
    Judith O'Quinn
    (604) 662-3598
    (604) 669-6257 (FAX)
    Email: ngg@telus.net
    Website: www.newguineagold.ca