NEW ISLAND RESOURCES INC.
TSX VENTURE : NIS

NEW ISLAND RESOURCES INC.

April 05, 2007 17:12 ET

New Island Announces the Engagement of an Investor Relations Consultant

ST. JOHN'S, NEWFOUNDLAND and LABRADOR--(CCNMatthews - April 5, 2007) - New Island Resources Inc. ("New Island") (TSX VENTURE:NIS) is pleased to announce that it has retained Working Capital Corporation ("Working Capital") of Calgary, Alberta to provide investor relations services to New Island by communicating with brokers, analysts, investors, the media and the general public.

The investor relations agreement with Working Capital is for a term of one year beginning on April 4, 2007 and ending March 31, 2008 and is renewable thereafter on a monthly basis with mutual written agreement of the parties. In addition to a basic monthly fee of $6,000 per month, New Island has granted Working Capital an option to purchase 500,000 Common Shares of New Island at an exercise price of $0.19 per share. The option is to vest quarterly over a twelve month period. Except for the stock option, Working Capital does not currently hold any securities of New Island.

Working Capital is a Calgary-based corporate finance and communications firm specializing in the areas of financings, investor relations, valuations, fairness opinions, due diligence and management consulting. Working Capital is owned by its sole shareholder, Christopher Gulka, who holds a Bachelor of Commerce degree with Distinction from the University of Alberta, and the professional designations of Chartered Accountant (CA) and Chartered Financial Analyst (CFA). Working Capital has shown a solid track record in investor relations with its current and past clientele, including Hathor Exploration Limited, West High Yield Resources Ltd., and Ecstall Mining Corporation, which was recently acquired by Mantle Resources Inc.

About New Island

New Island is a mineral exploration company holding properties in Newfoundland. Information on New Island and its properties can be viewed at www.newislandresources.com.

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