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File: NGG NR 2013-05-14  NGG Default Update.doc


DEFAULT STATUS UPDATE

Vancouver, BC - May 14, 2013 - New Guinea Gold Corporation. ("NGG" or the "Company") (TSX-V: NGG) is providing this bi
--->-weekly Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure
---> Defaults ("NP 12-203"). On May 1, 2013, the Company announced (the "Default Notice") that, for the reasons disclosed 
--->in the Default Notice, there would be a delay in the filing of its audited financial statements for the year ended Dec
--->ember 31, 2012 and its related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Of
--->ficer certifications for the year ended December 31, 2012 (collectively, the "Required Filings") beyond the 120 day pe
--->riod prescribed for the filing of such documents. 

As a result of this delay in filing, on May 1, 2013, the British Columbia Securities Commission (the "BCSC"), the prin
--->cipal regulator of the Company, issued a management cease trade order (the "MCTO"), which imposed restrictions on all 
--->trading in securities of the Company by the Chief Executive Officer and the Chief Financial Officer of the Company unt
--->il the Company files the Required Filings and the BCSC makes an order revoking the MCTO. All other parties are permitt
--->ed to freely trade the Company's securities. 

The Company's auditors are completing the audit of the Company's financial statements for the year ended December 31, 
--->2012. As previously announced, the Company has recently appointed Brisbane (Queensland, Australia) firm Lawler Hackett
--->s Audit as its new Auditors. Owing to the timing of this appointment, Lawler Hacketts Audit has not had the necessary 
--->time to complete the audit prior to the Filing Deadline. The Company is continuing to work with Lawler Hacketts Audit 
--->to ensure that the audit is completed with as little delay as possible.

As a consequence, the Company now expects to file the Required Filings on or before June 30, 2013. In addition, until 
--->the audit is completed, the Company will not be in a position to finalize its unaudited financial statements for the t
--->hree months ended March 31, 2013 and its related Management's Discussion and Analysis and Chief Executive Officer and 
--->Chief Financial Officer certifications (the "Interim Filings"). Therefore, the Interim Filings will not be filed by th
--->e May 30, 2013 deadline.

Until the Required Filings and Interim Filings are filed, the Company intends to continue to satisfy the provisions of
---> the Alternative Information Guidelines (the "AIG") specified in Section 4.4 of NP 12-203 by issuing bi-weekly Default
---> Status Reports, each of which will be issued in the form of a news release. NGG intends to file, if required, its nex
--->t Default Status Report by May 28, 2013. 

Pursuant to the requirements of the AIG, the Company reports that, since the issuance of the Default Notice and on May
---> 1, 2013, except as stated in this Default Status Report, there has not been any material change to the information pr
--->ovided therein, nor has there been any failure by the Company in fulfilling its stated intentions with respect to sati
--->sfying the AIG. In addition, there has not been any specified default by the Company under NP 12-203 other than the de
--->lay in filing the Required Filings, and there is no other material information concerning the affairs of the Company t
--->hat has not been generally disclosed.

ON BEHALF OF THE BOARD

Greg Heaney
Director

For further information, please contact info@newguineagold.ca, or access our website -www.newguineagold.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements - Certain information set forth in this news release contains forward-looking statements, i
--->ncluding the timing of filing of NGG's Annual Financial Filings.  These forward looking statements involve substantial
---> known and unknown risks and uncertainties, certain of which are beyond the control of NGG, including, but not limited
---> to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated w
--->ith the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, th
--->e availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the prepar
--->ation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, a
--->s such, undue reliance should not be placed on forward-looking statements.