SOURCE: New World Gold Corp

March 01, 2011 00:38 ET

New World Gold Corporation Reports Financial Results

BOCA RATON, FL--(Marketwire - March 1, 2011) - New World Gold Corporation (PINKSHEETS: NWGC) is pleased to announce its financial results for the 12 months ending December 31, 2010. Net Income was $861,100 versus nil revenue for December 31, 2009. The Company had gross profits of $377,948 versus nil gross profits for the same period in the previous year. The Company had a net loss of $234,993 versus a loss of $179,668 the previous year. The company had an excellent growth year. Review of the quarterly filings will show that the financial results (revenue and profit) reported occurred primarily in the last quarter with net profits of $32,154. The Company anticipates that it will average daily production of up to 30 oz of gold per day.

New World Gold Corporation is an exploration company focused on exploration and development of gold prospects. The Company is continuing to expand its leases and gold reserves. With the current price of gold, leases and projects that were previously marginal are now economical. The Company is examining many leases with the intention of increasing its proven reserves. Historically, it has been reported that mining companies have consistently proven to return some of the biggest gains anywhere on the stock market.

New World Gold Corp trades in the United States on the NQB Pink Sheets under the symbol "NWGC." For further information, please contact the Company at (561) 210 8496 or www.newworldgoldcorp.com.

Note: Certain statements in this press release are "forward-looking statements" 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.

New World Gold Corporation

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