Mr. Greg Heaney reports

COMPANY UPDATE

New Guinea Gold Corp.'s subsidiary company, New Guinea Gold Ltd., has secured short-term loan financing in Papua New Guinea to assist in meeting working capital requirements over the coming months as phase one mining comes to an end at its Mt. Sinivit mine.

The 650,000-kina loan is guaranteed by the company and is repayable by monthly instalments over the coming 12 months. The interest rate is 6.6 per cent.

As previously advised, the company is continuing to pursue a number of opportunities in relation to the long-term future of the Mt. Sinivit mine and associated exploration licences. Due to the nature and stage of discussions, the company is unable to provide further details at this time. The company will update shareholders on the progress of these discussions at the appropriate time.

We seek Safe Harbor.