New Guinea Gold Corporation

New Guinea Gold Corporation

June 21, 2011 13:00 ET

New Guinea Gold Corporation Announces Management Changes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2011) - New Guinea Gold Corporation ("New Guinea Gold" or the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) announces that Mr. Robert McNeil has stepped down as Acting Chief Executive Officer effective June 1, 2011. He will continue to advise the company as a consultant until the end of July. The Board of Directors wishes to thank Mr. McNeil for his many years of commitment to the development of the company and for assuming the role of interim CEO during the transitional period after announcement of his retirement.

The Board continues the search for a new Chief Executive Officer and is confident that the transition of senior management will be completed shortly. In the meantime, Mr. Ces Iewago, Chairman of the Board of Directors, will assume the role of Acting CEO pending a further announcement in the near future.

The Company also announces that Mr. Wayne Johnston has resigned his statutory position as COO to focus his efforts in the role of General Manager of the Sinivit Gold project.

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. The Company is focused on expanding the exploration program, increasing production from the mine and developing the gold, copper and tellurium resources.


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.

Contact Information

  • New Guinea Gold Corporation
    Colin McKenzie
    +1 604.689.1515
    +1 604.687.8678 (FAX)