NEW ISLAND RESOURCES INC.
TSX VENTURE : NIS

NEW ISLAND RESOURCES INC.

November 06, 2006 15:35 ET

New Island Resources Inc.: Issue of Shares for Services Rendered

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Nov. 6, 2006) - New Island Resources Inc. ("New Island") (TSX VENTURE:NIS) announces that further to its announcement on October 30, 2006, it has agreed to pay a fee to a third party in relation to services performed in connection with the sale of the Nugget Pond gold processing facilities. The fee to be paid is in the amount of $120,000 which will be paid by the issuance of 500,000 Common Shares of New Island at a deemed price of $0.24 per share.


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Contact Information

  • New Island Resources Inc.
    Harold L. Wareham
    President and Chief Executive Officer
    (709) 576-7711
    (709) 576-2236 (FAX)
    Email: info@newislandresources.com