GOLD RESOURCE: Latest drilling says Blackwater contains over 7.5-M oz

BRITISH COLUMBIA – New Gold of Vancouver says it now has the results of drilling completed to the end of December 2011 at its Blackwater project 160 km southwest of Prince George. Using a 0.40 g/t Au cut-off, a potential open pit mine...

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BRITISH COLUMBIA – New Gold of Vancouver says it now has the results of drilling completed to the end of December 2011 at its Blackwater project 160 km southwest of Prince George. Using a 0.40 g/t Au cut-off, a potential open pit mine would have an indicated resource of 174.4 million tonnes grading 0.98 g/t Au and an inferred resource of 91.6 million tonnes grading 0.78 g.t Au.

The contained gold in the indicated resource totals 5.5 million oz and in the inferred resource is 2.3 million oz. The property also contains 37.0 million oz of silver.

New Gold continues to drill at Blackwater. Hole BW-315 intersected a one-metre section that has a weighted average grade of 252.00 g/t. Other intersections in holes drilled in 2012 are in the 1.00 to 1.40 g/t range.

For the drill hole location map and complete summary of the recent drill hole assays, please refer to NewGold.com.

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