$NWGC-Signs-($57 Million)-Contract Supply Gold Chinese Company
New World Gold Corporation, (OTC Pink:NWGC), a gold mining and milling company with existing operations in Ecuador and Peru is pleased to announce that on February 4, 2015 it signed an agreement with Aguila Dorada De Sur America Aguidomerica SA a Chinese based company to supply a minimum of 120 kilos of gold (4225 ozs) per month to a maximum of 200 kilos per month. The minimum monthly value of the contract is estimated to be $4,761,000. Assuming an average price of gold for a year to be $1240.00 per oz, this contract will generate approximately $57,000,000 in revenue in the first year.
The source of gold for this contract and other commitments will be from the Company's own reserves and the gold generated by contract milling. Currently the company has the ability to process 600 tons of ore per day. The Company expects that it will be able to process in excess of 900 tons of ore per day by the end of May, 2015.
New World Gold Corporation trades in the United States on the OTC Pink under the symbol “NWGC”. For further information, please contact the Company at (561)210 8496 or www.newworldgoldcorp.com or investors can find real time quotes and market information for the Company on www.otcmarkets.com.
NOTE:This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results,events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand,market competition and New World Gold's ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. New World Gold is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward or to disclose unanticipated occurrences except as required under applicable law
