SOURCE: New World Gold Corporation

March 30, 2012 12:31 ET

New World Gold Reports Record Revenue and Profits for 2011

BOCA RATON, FL--(Marketwire - Mar 30, 2012) - New World Gold Corp (PINKSHEETS: NWGC), a gold mining company with existing operations in Ecuador and Peru, today released its financial statements for the year ended December 31, 2011. The report was filed and is available on the Pink Sheets.

The financial statements show total revenues of $5,472,174 compared to revenues of $861,100 for last year. This represents an increase in revenue of $4,611,094 or 535%. Net profit for the year ended December 31, 2011 was $660,243 versus a loss of $243,993 for December 31, 2010 or an increase of 370%.

The company had record increases in both revenue and profits in 2011 due to increased production in its mines and mills. New World Gold currently has 4 producing mines and owns and operates 3 mills, with a total production capacity of 380 tons per day. The short-term goal of the company is to produce 150 ounces of gold per day which will substantially increase revenue and profits for 2012.

The balance sheet of the Company shows assets of $4,798,922 versus liabilities of $2,766,843. The Company had an inventory of $508,755 at year end. The Company has valued its investment in subsidiaries at $599,330. The market value of this subsidiary is substantially higher than the current book value.

The Company had an excellent year showing rapid growth. It is anticipated that the growth of New World Gold Corp will continue as it brings its mills up to capacity and brings additional concessions on production. The company will also continue to generate other revenue and profits by milling ore from other mines.

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

The complete financial report is available online at:
http://www.otcmarkets.com/stock/NWGC/financials.

NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause actual results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition, and New World Gold's ability to meet current or future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. New World Gold is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences, except as required under applicable laws.

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