New Guinea Gold Corporation

New Guinea Gold Corporation

April 16, 2008 09:30 ET

New Guinea Gold Grants Incentive Stock Options to Employees and Consultants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2008) - The Board of Directors of New Guinea Gold Corporation ("the Company") (TSX VENTURE:NGG)(FRANKFURT:NE8) has approved the issuance of incentive stock options to certain of its Papua New Guinea ("PNG") employees and consultants for up to 1,750,000 common shares in the capital stock of the Company at an exercise price of $0.43 for a period of five years from April 14, 2008 but are subject to a one year vesting period from that date.

Options have been granted to employees in the PNG operations including: Sinivit Mine Manager, Earth Moving Supervisor, Process Supervisor and Deputy Mine Manager, Exploration Manager-PNG, Consulting Mining Engineer-Sinivit Mine, Metallurgy Manager, Drilling Supervisor, Senior Geologist-Sinivit Mine, Site Administration Officer as well as two drillers, the shotfirer at Sinivit and the person in charge of Special Projects. There are no company directors or officers included in this issue of stock options.

The issuance of these options is subject to filing and approval of documentation to be provided to the appropriate regulatory authorities and the conditions of the Company's Stock Option Plan which was originally approved by the shareholders on June 17, 2005. Authority was granted to Company Directors to amend the Stock Option Plan obtained at the Annual General Meeting of the Company on June 15, 2007.


Robert D. McNeil, President & CEO

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

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