SOURCE: New World Gold Corp

March 07, 2011 20:01 ET

New World Gold Corporation Upgrades Production Facilities

BOCA RATON, FL--(Marketwire - March 7, 2011) - New World Gold Corporation (PINKSHEETS: NWGC) is pleased to announce that it is consistently producing 11 ozs of gold per day in the first fiscal quarter. The Company has recently supplied funding of $150,000 to the project to complete an upgrade on its smelter/mill. This upgrade is anticipated to increase the production capability on the project from 11 ozs of gold per day to 21 ozs of gold per day. This increase in production will be reflected in the financial results of the second quarter. The increased cash flow allows the company to expand its operations and continue to increase daily gold production. The current increase in the price being paid for gold is a huge benefit to the Company.

New World Gold Corp is a successful exploration company focused on exploration and development of gold prospects. Currently, the company has production on two projects and its own mill. The Company has proven developed reserves and proven reserves. The Company's corporate strategy involves a long term, result orientated approach to the exploration and development of gold reserves in politically stable environments.

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.

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