SOURCE: New World Gold Corporation

February 06, 2011 15:25 ET

New World Gold Signs Letter of Intent to Continue to Accelerate Its Rate of Growth

BOCA RATON, FL--(Marketwire - February 6, 2011) - New World Gold Corp (PINKSHEETS: NWGC) is pleased to announce that it has signed a Letter of Intent with AXA Group LLC. (AXNG) to join forces and joint venture gold prospects. As part of the Letter of Intent, Allen Wu, the managing member of AXNG will be appointed Chairman of New World Gold effective February 1, 2011.

AXNG has numerous gold projects throughout the world. It is the intention of the AXNG to vend these projects into NWGC based on independent assessments and as such increasing the NWGC gold reserves. Preliminary assessments look very good. AXN Group LLC (AXNG) was founded in 1997 and has been a global investor in the natural resources sector, encompassing Oil & Gas, Forestry/Timber, and Mining. In the mining area, AXNG focuses on Gold, Coal, Iron Ore/Iron Sand, Nickel, and Copper, with significant projects across the Americas, Africa, and the Association of South East Asian Nations (ASEAN). For further information, inquire at info@axngroup.com.

NWGC will be responsible for all operations and execution on the projects. Mr. Wu will be responsible for the raising of equity and/or debt financing as required by NWGC to develop the projects. The equity and/or debt financing will be used to increase daily gold production and to make sure there will be funds available to expand operations and acquire additional gold reserves and increase daily production.

NWGC believes that the assets that the AXNG have available combined with Mr. Wu's proven ability to raise funds as required will allow NWGC to grow and expand its asset base and daily production of gold in a very aggressive manner. AXNG will immediately begin negotiating a financing package of equity plus debt financing of up to 3.0 million dollars.

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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