New Guinea Gold Corporation
TSX VENTURE : NGG
FRANKFURT : NG8

New Guinea Gold Corporation

September 20, 2010 10:17 ET

New Guinea Gold Grants Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2010) - The Board of Directors of New Guinea Gold Corporation, ("NGG" or the "Company") (TSX VENTURE:NGG)(FRANKFURT:NG8) has approved the issuance of 10,650,000 incentive stock options (under the terms of its Stock Option Plan which was approved by the Members at the Annual General Meeting of the Company held on June 29, 2010) to various directors, officers, employees and consultants of the Company on September 17, 2010. These options have a four year term, exercisable up to September 17, 2014, at an exercise price of $0.12 per share, which is greater than the market value of NGG's common shares on the TSX Venture Exchange ("Exchange") on the date of the grant.

All options and any shares issued on the exercise of options will be subject to a four month hold period and are subject to Exchange approval.

For further information on this release or on NGG projects, contact Forbes West toll free at (888)6555532, email forbes@sherbournegroup.ca, info@newguineagold.ca, or access our website – www.newguineagold.ca.

ON BEHALF OF THE BOARD

R.D.McNeil, CHAIRMAN & CEO

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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