Metallica Resources Inc.
TSX : MR
AMEX : MRB

Metallica Resources Inc.
New Gold Inc.
TSX : NGD
AMEX : NGD

New Gold Inc.
Peak Gold Ltd.
TSX VENTURE : PIK

Peak Gold Ltd.

June 18, 2008 09:01 ET

Shareholders of Metallica Resources, New Gold and Peak Gold Approve US$1.6 Billion Business Combination

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2008) - Metallica Resources Inc. ("Metallica Resources") (TSX:MR) (AMEX:MRB), New Gold Inc. ("New Gold") (TSX:NGD) (AMEX:NGD) and Peak Gold Ltd. ("Peak Gold") (TSX VENTURE:PIK) are pleased to announce that their respective shareholders have approved the business combination of the three companies at meetings held on June 17, 2008 in Vancouver (in the case of New Gold and Peak Gold) and in Toronto (in the case of Metallica Resources). In excess of 99% of the votes cast at each of the meetings were in favour of the business combination.

The completion of the transaction remains subject to Court approval. If Court approval is obtained, Metallica Resources, New Gold and Peak Gold anticipate that the transaction will close on or about June 30, 2008.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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