New Guinea Gold Corporation

New Guinea Gold Corporation

September 29, 2011 11:26 ET

New Guinea Gold Corporation: Definitive Feasibility Study

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 29, 2011) - New Guinea Gold Corporation ("NGG" or the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) has appointed GR Engineering Services to conduct a Definitive Feasibility Study into the installation of a CIL / CIP Processing Plant at the Sinivit Gold Mine.

Greg Heaney, Acting CEO, commented: "It is the Company's belief that there may be economically recoverable gold remaining in the vats and heaps constructed for the initial leaching operation. This Definitive Feasibility Study will test the remnant material, which will total in excess of 400,000 tonnes when the current program concludes, plus an additional high gold / high copper orebody estimated at around 50,000 tonnes, to determine whether the precious metal content can be liberated using an agitated leaching process."

The Company has estimated that the cost of the Definitive Feasibility Study will not exceed A$500,000 and should be concluded by February 2012.

For further information on this release or on other NGG projects such as the Sinivit Gold Mine, please contact, or access our website –


Greg Heaney, 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.

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