Mr. Robert Thast reports

NEW CAROLIN GOLD CLOSES $220,000 PRIVATE PLACEMENT

New Carolin Gold Corp. has closed its non-brokered private placement of 4.4 million units in the capital of the company at a price of five cents per unit for gross proceeds of $220,000. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable to acquire one additional common share of the company at any time for a 12-month period from the date of issuance at a price of 10 cents per share.

A director and officer of the company subscribed for 200,000 units for an investment of $10,000.

The company paid finders' fees of $17,000 on portions of the placement.

The securities issued under this private placement will be subject to a four-month-plus-one-day hold period.

The proceeds from the sale of the units will be used for general corporate purposes.

We seek Safe Harbor.