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NWGC News New World Gold Corporation Acquires Second Mill

Tuesday , May 10, 2011 16:37ET

http://www.newworldgoldcorp.com/

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BOCA RATON, FL -- (Marketwire) -- 05/10/11 -- New World Gold Corporation (PINKSHEETS: NWGC) is pleased to announce that it has acquired a second mill in northern Peru for processing gold. The leases associated with the mill have a proven gold reserve with existing production. The mill has the capability of processing 40 tons of ore per day. With the upgrades that NWGC has already started to make on the mill, it will have the capability of processing 70 tones per day in the next 45 days and 100 tons per day within the next 120 days. Current daily production is 14 ozs of gold per day. As production capability increases the Company will increase the volume of ore from its own leases but also expects to increase production by purchasing additional ore from surrounding mines that do not have milling capabilities. Preliminary studies indicate that the average grade from surrounding mines will be 2.0 ozs of gold per ton with potential pockets of ore as high as 8 ozs og gold per ton.

The fact that NWGC has its own milling capability, gives it a significant advantage over other companies who cannot mill their own ore. NWGC can process its own reserves and generate cash flow while at the same time purchasing ore from other mines and generating a secondary cash flow from other sources.

New World Gold Corp will continue to look for opportunities that will allow the company to grow by increasing its proven reserves, production capability and cash flow. The Company trades in the United States on the NQB Pink Sheets under the symbol "NWGC." For further information, please call 561 210 8496 or http://www.newworldgoldcorp.com.

NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934.and within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions and factors described in independent reports, company reports and other filings with regulatory bodies.

For further information:
New World Gold Corporation
561 210 8496
http://www.newworldgoldcorp.com


Source: New World Gold Corporation


Public Companies Associated with this story:
NWGC

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