Business & Finance
Business and Finance
Business and Finance 
Wed, May 12, 2010
New Guinea Gold Corporation: First Quarter Gold Production 1,423 ozs
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2010) - New Guinea Gold Corporation (NGG and the Company) (TSX VENTURE:NGG)(FRANKFURT:NG8) announces that gold production from the Sinivit Mine in the first quarter 2010 was 1,423.28 ozs (silver 264.01 ozs). Since the end of the quarter NGG has added additional mining equipment to the project and the additional crusher arrived on site on May 9, 2010 (after delays due to weight limits and ongoing repairs on an access bridge).
In 2010 NGG has adopted a revised procedure of reporting gold production. Previously gold had been reported for the month in which it had been predominantly processed to dore bars. This has led in the past to inconsistencies between quarterly accounts and announced gold production. As from January 1, 2010, the company will report gold in the month in which it is sold.
In view of this new procedure the quarterly gold production for the fourth quarter 2009 is amended to 884.3 ozs and silver 203.2 ozs: these figures were used in the 2009 financial statements. The company also notifies investors of a typographical error in the 2009 MD&A, page 8. First quarter 2009 gold production should be 1,372 ozs instead of 1,327 ozs as stated in the MD&A.
The information in this release was prepared under the direction of Robert D. McNeil a Fellow of the Australasian Institute of Mining and Metallurgy and a "qualified person" as defined by National Instrument 43-101. Mr McNeil has read and approves the information contained herein.
Full details of the Sinivit Mine are described in an Independent NI 43-101 report dated January 2006 which is available at [ www.newguineagold.ca ] and in its recent Press Releases.
For further information on this release or on other NGG projects such as the Sinivit Gold Mine, contact Forbes West toll free at (888)6555532, email [ forbes@sherbournegroup.ca ], [ info@newguineagold.ca ], or access our website – [ www.newguineagold.ca ].
ON BEHALF OF THE BOARD
R.D.McNeil, CHAIRMAN & CEO
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.