NGG

New Guinea Gold Corporation ("NGG" or the "Company") (TSX
VENTURE:NGG)(FRANKFURT:NG8) announces that the agreement between NGG, New Guinea
Gold Limited ("NGGL"), Gold Anomaly Limited and Anomaly Limited for the sale and
purchase of NGGL's 10% carried interest in EL 1115, EL 1353 and EL 1384 has now
lapsed. NGGL will retain its 10% carried interest in these exploration licences,
which continues through until Bankable Feasibility Stage.


Acting CEO Greg Heaney commented, "Ultimately the original deal lapsed through
no fault of the Company. We remain very excited about the Crater Mountain region
and this outcome maintains some geographic diversity for NGG in terms of
exposure to exploration potential."


For further information on this release or on other NGG projects such as the
Sinivit Gold Mine, please contact info@newguineagold.ca, or access our website -
www.newguineagold.ca.


ON BEHALF OF THE BOARD

Greg Heaney, ACTING CEO

Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
NGG, including, but not limited to the impact of general economic conditions,
industry conditions, volatility of commodity prices, risks associated with the
uncertainty of resource and reserve estimates, currency fluctuations, dependence
upon regulatory approvals, the availability of future financing and exploration
risk. Readers are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements.

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