SOURCE: New World Gold Corporation

June 16, 2011 17:00 ET

New World Gold Corporation Completes Financing

BOCA RATON, FL--(Marketwire - Jun 16, 2011) - New World Gold Corporation (PINKSHEETS: NWGC) is pleased to announce that it has completed a financing of $500,000 with an interest rate of 9% to allow for the completion of the upgrades to its mills. The funds will be paid back over 3 years. The capacity of the mills is being increased from 40 tons per day to 150 tons per day. Once the upgrades are completed, the Company expects the mills to produce in excess of 100 ounces of gold per day on a consolidated basis.

With operating mills, the Company can process its own reserves while at the same time purchasing and processing ore from other mines generating a secondary cash flow. At the same time, the company will continue to expand its own reserves through development work on its leases.

New World Gold Corporation will continue to look for opportunities that will allow the Company to grow by increasing its proven reserves, production capability and cash flow.
The Company trades in the United States on the NQB Pink Sheets under the symbol "NWGC". For further information please call 561 210 8496 or

NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 and within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions and factors described in independent reports, company reports and other filings with regulatory bodies.

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