New Guinea Gold Corporation
TSX VENTURE : NGG

New Guinea Gold Corporation

February 22, 2007 11:44 ET

New Guinea Gold Corporation: Private Placement Increased to 12 Million Units for up to $5,040,000

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 22, 2007) - New Guinea Gold Corporation (the "Company" or "NGG") (TSX VENTURE:NGG) announces that the Private Placement Offering Agreement (the "Offering") reported in NGG's Press Release dated February 21, 2007 has been amended. The Offering, by Bolder Investment Partners Ltd., will now consist of up to 12 Million Units of the Company (increased from up to 8 Million Units) at a price of $0.42.

All other terms and conditions of the Offering remain unchanged.

ON BEHALF OF THE BOARD

NEW GUINEA GOLD CORPORATION

Judith O'Quinn, CFO, Corporate Secretary

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.

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy of this release.

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