NGG

New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) ("NGG" or the
"Company") is pleased to announce that the previously announced acquisition of
NGG by PNG Gold Corporation ("PNG") pursuant to a plan of arrangement (the
"Arrangement") was approved at a special meeting of NGG shareholders on April
12, 2012. The Arrangement will result in PNG acquiring all of the issued and
outstanding shares of NGG.


Under the terms of the Arrangement, each NGG shareholder will receive 0.125 of a
PNG common share for each NGG share held. In order to receive the consideration,
NGG shareholders should follow the instructions that are set out in NGG's Notice
of Special Meeting and Management Information Circular dated March 9, 2012,
available at www.sedar.com under NGG's SEDAR profile.


NGG is seeking a final order of the Supreme Court of British Columbia to approve
the Arrangement, which is expected to be granted next week. The Arrangement is
expected to be completed shortly thereafter and is subject to certain
conditions, including customary regulatory consents and other approvals.


ON BEHALF OF THE BOARD

Bryan Nethery, Director

Forward Looking Statements - Certain information set forth in this news release
contains forward-looking statements, including NGG's ability to obtain court
approval for the Arrangement and the closing of the Arrangement. These forward
looking statements involve substantial known and unknown 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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