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New Guinea Gold Corporation: New Guinea Gold Corporation: Drilling in Central Oxide Zone, Sinivit, Papua New Guinea, Gives Resu

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^{Published in Business and Finance on Wednesday, May 27th 2009 at 8:18 GMT, Last Modified on 2009-05-27 08:19:48 by Market Wire}  

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 27, 2009) - New Guinea Gold Corporation (TSX VENTURE:NGG)(FRANKFURT:NG8) -

Mineralisation definition drilling in the Central Oxide Zone at the Sinivit Mine has confirmed substantial gold mineralisation with best results such as 14m at 2.45g/t gold, 14m at 3.27g/t gold, and 6m at 39.7g/t gold, including 4m @ 57.30 g/t gold.

Results for 37 Reverse Circulation drill holes, each drilled to a nominal depth of 30 metres are shown in the table below. These vertical holes were drilled on a nominal 6m by 6m grid to determine the extent of near surface gold mineralisation. Drilling is ongoing. The drilling indicates that gold mineralisation is widespread with some continuous narrower high grade zones, surrounded by lower gold grades in both footwall and hanging wall.

The location of the Central Oxide Zone is shown in the accompanying diagram. No significant mining has yet been undertaken in this zone, and the above drill holes, plus earlier drill holes, will now provide the basis for an updated mine production plan for the Central Oxide Zone. Assays from additional holes will be released in the near future.

The true thickness of intersections cannot be accurately determined until the mine plan is completed.

An update of the Sinivit Mine status is expected to be released in early June 2009.

RC samples were partly prepared at site by splitting to approximately 3 kgs. Further preparation and analysis is completed at accredited laboratory, ALS Chemex Laboratories, in Townsville, Queensland, Australia.

The information in this release was prepared under the direction of Robert D. McNeil a Fellow of the Australian Institute of Mines and Metallurgy and a "qualified person" as defined by National Instrument 43-101. Mr McNeil has read and approves of the information contained herein.

Full details of the Sinivit Project are described in an Independent N1 43-101 report dated January 2006 which is available at [ www.newguineagold.ca ].

For further information on this release or on other NGG projects contact Forbes West toll free at 888 655 5532, email [ forbes@sherbournegroup.ca ] or Judith O'Quinn at 604 662 3598, email [ ngg@telus.net ] or access our website - [ www.newguineagold.ca ]

ON BEHALF OF THE BOARD

R.D.McNeil, CHAIRMAN & CEO

 SINIVIT CENTRAL OXIDE ASSAY DRILL RESULTS

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Hole ID From To Interval Gold (g/t) Copper (ppm)
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CGC0107B 20 30 10 1.04 553
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CGC0108B 0 14 14 2.45 1624
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CGC0114 28 30 2 0.82 2980
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CGC0115 2 4 2 0.61 85
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CGC0116 4 6 2 0.67 237
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CGC0118 4 6 2 0.76 122
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CGC0119 2 4 2 1.58 49
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CGC0122 4 6 2 0.52 75
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CGC0124 0 4 4 1.10 275
 10 14 4 2.94 781
 Incl. 2m @ 28.80 g/t gold 20 28 8 9.24 1914
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CGC0125 0 8 8 1.00 98
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CGC0126 6 14 8 2.83 171
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CGC0127 4 8 4 1.49 4570
 16 24 8 1.54 1349
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CGC0128 Incl. 2m @ 15.85 g/t gold 14 28 14 3.27 2100
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CGC0129 18 20 2 0.76 1630
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CGC0130 2 4 2 5.96 157
 20 26 6 0.85 2613
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CGC0133 2 14 12 3.25 137
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CGC0134 0 2 2 1.59 218
 20 28 8 0.67 420
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CGC0135 8 10 2 1.63 53
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CGC0136 14 22 8 1.09 439
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CGC0139 14 16 2 0.56 276
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CGC0140 10 16 6 1.35 232
 Incl. 2m @ 14.60 g/t gold 24 30 6 5.41 5038
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CGC0141 18 28 10 1.90 1166
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CGC0142 4 6 2 0.87 128
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CGC0144 20 22 2 16.00 1310
 28 30 2 5.14 5730
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CGC0145 12 14 2 1.78 377
 Incl. 4m @ 57.30 g/t gold 24 30 6 39.71 2063
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CGC0146 0 2 2 1.41 272
 8 12 4 2.41 1149
 22 24 2 0.51 573
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CGC0147 Incl. 2m @ 13.95 g/t gold 6 12 6 6.59 1423
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CGC0148 Incl. 2m @ 19.20 g/t gold 20 30 10 6.55 2812
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Please Note: In holes 117, 120, 121, 123, 131, 132, 137, 138, and 143 there 
were no significant intersections

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.