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<SEC-DOCUMENT>0001204459-08-001527.txt : 20080725
<SEC-HEADER>0001204459-08-001527.hdr.sgml : 20080725
<ACCEPTANCE-DATETIME>20080725152331
ACCESSION NUMBER:		0001204459-08-001527
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080724
FILED AS OF DATE:		20080725
DATE AS OF CHANGE:		20080725

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Gold Inc. /FI
		CENTRAL INDEX KEY:			0000800166
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31722
		FILM NUMBER:		08970766

	BUSINESS ADDRESS:	
		STREET 1:		3110 - 666 BURRARD ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2X8
		BUSINESS PHONE:		(604) 696-4100

	MAIL ADDRESS:	
		STREET 1:		3110 - 666 BURRARD ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2X8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRC RESOURCES CORP                                      /FI
		DATE OF NAME CHANGE:	19860904
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ngd072408f6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>

<head>

<title>New Gold Inc.: Form 6-K - Prepared by TNT Filings Inc.</title>
</head>

<html>

<body>

<div style="border-top-style: solid; border-top-width: 1; padding-top: 1">
  <hr color="#000000" size="5">
</div>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="5">UNITED STATES</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="5">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">Washington, D.C. 20549</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;<b><font size="2">___________________</font></b></p>
<p style="text-align: center; margin-top: 6pt; margin-bottom: 0pt"><b>
<font size="5">FORM 6-K</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR<br>
15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">For the month of July 2008</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">Commission File Number 001-31722</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">___________________</font></b></p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="6">New Gold Inc.</font></b></p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Park Place, 3110-666 Burrard Street</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Vancouver, British Columbia V6C 2X8</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Canada</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">(</font><i><font size="2">Address of principal executive offices</font></i><font size="2">)</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">___________________</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)<br>
&nbsp;</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Form 20-F</font> <font face="Wingdings 2" size="4">&#163;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size="2">Form
40-F</font> <font face="Wingdings 2" size="4">Q</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1)</font>
<font face="Wingdings 2" size="4">&#163;</font></p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7)</font>
<font face="Wingdings 2" size="4">&#163;</font></p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Yes</font> <font face="Wingdings 2" size="4">&#163;</font><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No</font>
<font face="Wingdings 2" size="4">Q</font></p>
<p style="text-indent: 0.25in; text-align: left; margin-top: 0pt; margin-bottom: 0pt">
&nbsp;</p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">If &#147;Yes&#148; is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b): 82- <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u>.</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<div title="EE+ Page Break" style="font-size: 1pt; page-break-after: always; width: 100%; height: 1px">
  <hr color="#000000" size="5">
</div>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">DOCUMENTS FILED AS PART OF THIS FORM 6-K</font></b></p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt"><font size="2">
<a style="text-decoration: none" href="#EXHIBIT INDEX">See the Exhibit Index
hereto.</a></font></p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2">SIGNATURES</font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.</font></p>
<p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%">
  <tr>
    <td width="50%" colspan="2">&nbsp;</td>
    <td width="50%"><b><small>NEW</small> <small>GOLD</small> <small>INC.</small></b></td>
  </tr>
  <tr>
    <td width="50%" colspan="2">&nbsp;</td>
    <td width="50%">&nbsp;</td>
  </tr>
  <tr>
    <td width="50%" colspan="2">&nbsp;</td>
    <td width="50%">&nbsp;</td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td width="1%" align="left">
    <p style="margin-right: 15"><font size="2">By: </font></td>
    <td width="50%" style="border-bottom-style: solid; border-bottom-width: 1">
    <font size="2">/s/ Basil Huxham</font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td width="1%" align="left">
    <p style="margin-right: 15"><font size="2">Name:&nbsp;&nbsp; </font></td>
    <td width="50%" style="border-top-style: solid; border-top-width: 1; border-bottom-style: none; border-bottom-width: medium">
    <font size="2">Basil Huxham</font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td width="1%" align="left">
    <p style="margin-right: 15"><font size="2">Title: </font></td>
    <td width="50%" style="border-top-style: none; border-top-width: medium">
    <font size="2">Executive Vice President and Chief Financial Officer</font></td>
  </tr>
  <tr>
    <td width="50%" colspan="2"><font size="2">Date: July 25, 2008</font></td>
    <td width="50%" style="border-top-style: none; border-top-width: medium">&nbsp;</td>
  </tr>
</table>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">2</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<div title="EE+ Page Break" style="font-size: 1pt; page-break-after: always; width: 100%; height: 1px">
  <hr color="#000000" size="5">
</div>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b>
<font size="2"><a name="EXHIBIT INDEX">EXHIBIT INDEX</a></font></b></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%">
  <tr>
    <td width="14%"><u><b><font size="2">Exhibit</font></b></u></td>
    <td width="86%"><b><font size="2"><u>Description</u></font></b></td>
  </tr>
  <tr>
    <td width="14%" bgcolor="#E9F1F8">&nbsp;</td>
    <td width="86%" bgcolor="#E9F1F8">&nbsp;</td>
  </tr>
  <tr>
    <td width="14%" bgcolor="#E9F1F8"><font size="2">
    <a href="exh991.htm" style="text-decoration: none">99.1</a></font></td>
    <td width="86%" bgcolor="#E9F1F8"><font size="2">
    <a href="exh991.htm" style="text-decoration: none">New Gold Announces Q2
    Production, Cash Cost and New Afton Project Update, dated July 24, 2008.</a></font></td>
  </tr>
  <tr>
    <td width="14%">&nbsp;</td>
    <td width="86%">&nbsp;</td>
  </tr>
  <tr>
    <td width="14%">&nbsp;</td>
    <td width="86%">&nbsp;</td>
  </tr>
</table>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: left; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">
<font size="2">3</font></p>
<p style="text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</p>
<hr color="#000000" size="5">

</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>

<head>
<title>New Gold Inc: Exhibit 99.1 - Prepared by TNT Filings Inc.</title>
</head>

<body>

<div style="border-top-style: solid; border-top-width: 1; padding-top: 1">
  <hr color="#000000" size="5">
</div>
<p align="center"><img border="0" src="exh9911.jpg" width="404" height="111"></p>
<table CELLSPACING="0" BORDER="0" WIDTH="100%" cellpadding="0" style="border-collapse: collapse" bordercolor="#111111">
  <tr>
    <td align="center" style="border-top-style: solid; border-top-width: 2; border-bottom-style: solid; border-bottom-width: 1">
    <font SIZE="4"><b>PRESS RELEASE</b></font></td>
  </tr>
  <tr>
    <td align="center" style="border-top-style: solid; border-top-width: 1; border-bottom-style: solid; border-bottom-width: 2">
    <font SIZE="4"><b>New Gold Announces Q2 Production, Cash Cost and New Afton
    Project Update</b></font></td>
  </tr>
</table>
<font SIZE="2">
<p align="justify">(All figures are in US dollars unless otherwise stated) </p>
<p ALIGN="JUSTIFY">July 24, 2008 &#150; VANCOUVER, BC &#150; New Gold Inc. (&quot;<b>New Gold</b>&quot;)
(TSX and AMEX &#150; NGD) is pleased to announce the second quarter production and
cash cost, an update on the New Afton project, and a revised forecast for 2008.
The production and cash cost information provided below are approximate figures
and might differ slightly from the second quarter earnings and includes results
for the period prior to the close of the business combination between New Gold,
Peak Gold Ltd. and Metallica Resources Inc. on June 30, 2008. It should be noted
that because the business combination closed on June 30, the consolidated
interim statements of New Gold for the period ended June 30, 2008 that will be
released on August 14<sup>, </sup>2008 will not include the results presented
below for the Cerro San Pedro mine and the New Afton project. </p>
<b>
<p align="justify">Second Quarter Highlights</b> </p>
<p align="justify">Second quarter highlights reflect the operating results for
the three months ended June 30<sup>th</sup>, 2008 for Cerro San Pedro, Amapari
and Peak Mines. </p>
</font><font FACE="Symbol MT" LANG="JA" SIZE="2">
<ul style="line-height: 100%">
  <li>
  <p align="justify"></font><font SIZE="2">Gold production was 62,705 ounces
  </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Gold sales were 62,730 ounces </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Total cash cost was $612 (net of
  by-product sales) </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Copper production was 1.237 million
  pounds </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Silver production was 284 thousand
  ounces
  </ul>
<b>
<p align="justify">First Half 2008 Highlights </p>
</b>
<p align="justify">For the six month period ending June 30, 2008, the
operational results for Cerro San Pedro, Amapari and Peak Mines are as follows:
</p>
</font><font FACE="Symbol MT" LANG="JA" SIZE="2">
<ul style="line-height: 100%">
  <li>
  <p align="justify"></font><font SIZE="2">Gold production was 124,295 ounces
  </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Gold sales were 130,351 ounces </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Total cash cost was $532 per ounce
  (net of by-product sales) </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Copper production was 3.4 million
  pounds </li>
  </font>
  <li>
  <p align="justify"><font SIZE="2">Silver production was 512 thousand
  ounces
  </ul>
<p align="justify">The Cerro San Pedro mine in Mexico achieved excellent results
in the second quarter with gold sales increasing 39% at 22,190 ounces compared
to 15,922 ounces in the first quarter of 2008. Silver sales increased 47% at
300,728 ounces in comparison to 203,973 ounces in the first quarter of 2008.
Gold and silver production for the second quarter was 20,653 ounces and 283,749
ounces respectively and for the six month period ending June 30, 2008, gold and
silver production was 38,943 ounces and 512,372 ounces respectively. Total cash
cost net of by product sales for the second quarter was $375 per ounce and for
the six month period ending June 30, 2008, was $426 per ounce. Cash cost showed
a 24% improvement in the second quarter in comparison to the first quarter
reflecting the production ramp up from the heaps. </p>
</font><hr color="#000000" size="5"><p Style='page-break-before:always'><font SIZE="2">
<p align="justify">Operations at the Amapari mine in Brazil continued to be
challenged by low equipment availabilities and extreme rain falls. Second
quarter gold production was 20,938 ounces and for the six month period ending
June 30, 2008, the gold production was 39,139 ounces. Total cash costs for the
quarter were $968 per ounce bringing the figure for the six month period ending
June 30, 2008 to $829 per ounce. During the quarter, access to higher grade
materials was restricted due to unfavourable weather conditions, while mobile
and plant equipment availabilities adversely impacted the amount of ore
processed. Unit costs were also impacted by $165 per ounce due to reconciliation
of leach pad inventory. A comprehensive review of operations at Amapari is
underway and is expected to return the project to normal operating levels by
year end. </p>
<p align="justify">Second quarter results at Peak Mines in Australia included
production of 21,114 ounces of gold and 1.2 million pounds of copper and for the
six month period ending June 30, 2008, gold production was 46,213 ounces and
copper production was 3.4 million pounds. Total cash cost net of by product
sales for the second quarter was $472 per ounce and for the six month period
ending June 30, 2008, was $360 per ounce. Production was adversely affected by
delayed development of two high grade stopes due to difficult ground conditions
deferring production to later in the year. While expenditures in Australian
dollar terms were at expected levels, lower production and exchange rate
movement impacted the cash costs. </p>
<p align="justify">Commenting on operating results, Robert Gallagher, President
and Chief Executive Officer said, &quot;The results at Cerro San Pedro are excellent
and in-line with expectations. Great work has also been done at the community
level in the environs of the mine. Operations at the Amapari mine continued to
face challenges during the quarter and we have recently embarked on an in depth
program to get to the heart of the issues. A team of experts has been assembled
and have begun their analysis. They will work with site staff to implement and
maintain the systems required to turn the operation around. Engineering
continues on processing plant modifications while, with a view to the longer
term at Amapari, New Gold is conducting a study of alternatives to optimize
production from the existing oxide and sulphide resources. Resource conversion
drilling continues with a total of five rigs. The Peak Mines were adversely
impacted by lower than expected gold and copper grades due to unfavourable but
temporary ground conditions and overestimation of grade in two stopes. Grades
will return to planned levels from the third quarter onwards&quot; concluded Mr.
Gallagher. </p>
<b>
<p align="justify">New Afton Project </p>
</b>
<p align="justify">The New Afton project in Kamloops, Canada, gained momentum in
the second quarter. Underground development continued to ramp-up with three
Cementation development crews producing 1,267 metres of finished drift in the
conveyor, access decline and associated ventilation access drifts and crosscuts.
Excavation of the first 3.5m diameter ventilation borehole was completed
providing ventilation connections from the surface down to the exhaust
ventilation drift 307 metres below surface. Dewatering of the Afton pit
commenced and is ahead of schedule. The mining contractor has now expanded to
working four development faces and there are presently three mining crews
working seven days a week, 20 hours a day. </p>
<p align="justify">Construction of the process plant commenced early in 2008
with the goal of completing the earthworks and associated foundation and mill
building work by the end of 2008. The first concrete was poured for the New
Afton processing facilities in June 2008, three weeks ahead of schedule. The
concentrator and related facilities will be completed during the first three
quarters of 2009. The first ore is scheduled to be trucked to surface and along
with stockpiled development ore will enable commencement of milling operations
during the fourth quarter of 2009. Ramp up to four million tonnes per year
capacity will continue throughout 2010 and into early 2011. </p>
<p align="justify">&quot;The New Afton project is proceeding as scheduled and offers
significant internal growth opportunities for New Gold in the near future. At
today&#146;s gold and copper prices, the New Afton mine will be an enormous cash
generator for the Company,&quot; said Robert Gallagher </p>
<b>
<p align="justify">2008 Forecast Update</b> </p>
<p align="justify">Metal production for 2008 is now forecast to be approximately
250,000 ounces of gold, 1.1 million ounces of silver and 9.4 million pounds of
copper. Total cash cost, net of by product credits is forecast to be between
$500 and $520 per ounce. </p>
<p align="center">2 / 3 </p>
<hr color="#000000" size="5"><p Style='page-break-before:always'>
<p align="justify">New Gold will hold a conference call on Thursday, August 14,
2008 at 10:00 a.m. Pacific time to discuss these results. You may join the call
by dialing toll free 1-888-789-9572 or 1-416-695-7806 to access the call from
outside Canada or the U.S. You can listen to a recorded playback of the call
after the event until September 11, 2008 by dialing 1-800-408-3053 or
1-416-695-5800 for calls outside Canada and the U.S. Passcode: 3266725#. </p>
<p align="justify">New Gold also wishes to announce that Jim Simpson who was
previously the Executive Vice President and Chief Operating Officer for Peak
Gold Ltd. will be leaving New Gold at the end of August 2008. &quot;On behalf of the
Board and Management, I would like to thank Jim for his prior contribution and
wish him all the success in the future,&quot; said Robert Gallagher, President and
Chief Executive Officer. </p>
<p align="justify">New Gold is a new intermediate gold mining company with three
operating assets in Mexico, Brazil and Australia and two development projects in
each of Canada and Chile. For further information on New Gold, please visit our
website at <u><font color="#0000FF">www.newgold.com</font></u>. </p>
<b>
<p align="justify">CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS <br>
</b>Certain information contained in the press release, including any
information as to New Gold&#146;s future financial or operating performance, may be
deemed &quot;forward looking&quot;. All statements in this press release, other than
statements of historical fact, that address events or developments that New Gold
expects to occur, are &quot;forward-looking statements&quot;. Forward-looking statements
are statements that are not historical facts and are generally, but not always,
identified by the words &quot;express&quot;, &quot;plans&quot;, &quot;anticipates&quot;, &quot;believes&quot;,
&quot;intends&quot;, &quot;estimates&quot;, &quot;projects&quot;, &quot;potential&quot; &quot;budget&quot; and similar
expressions, or that events or conditions &quot;will&quot;, &quot;would&quot;, &quot;may&quot;, &quot;could&quot;, or
&quot;should&quot; occur. All such forward-looking statements are subject to important
risk factors and uncertainties, many of which are beyond New Gold&#146;s ability to
control or predict. Forward-looking statements are necessarily based on
estimates and assumptions that are inherently subject to known and unknown
risks, uncertainties and other factors that may cause New Gold&#146;s actual results,
level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking statements. Such factors
include, without limitation: anticipated synergies from the business combination
may not be realized, there may be difficulties in integrating the operations and
personnel of New Gold, Peak Gold and Metallica, New Gold is subject to
significant capital requirements associated with its expanded operations and
portfolio of development projects since completion of the business combination,
fluctuations in the international currency markets and in the rates of exchange
of the currencies of Canada, the United States of America, Australia, Mexico and
Chile; price volatility in the spot and forward markets for commodities; impact
of any hedging activities, including margin limits and margin calls;
discrepancies between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated metallurgical
recoveries; changes in national and local government legislation in Canada, the
United States, Mexico, Chile and Australia or any other country in which New
Gold currently or may in the future carry on business taxation, controls,
regulations and political or economic developments in the countries in which New
Gold does or may carry on business; the speculative nature of mineral
exploration and development, including the risks of obtaining necessary licenses
and permits; diminishing quantities or grades of reserves; competition; loss of
key employees; additional funding requirements; actual results of current
exploration or reclamation activities; changes in project parameters as plans
continue to be refined accidents; labour disputes; defective title to mineral
claims or property or contests over claims to mineral properties. In addition,
there are risks and hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance or inability to obtain insurance,
to cover these risks). Forward-looking statements are not guarantees of future
performance, and actual results and future events could materially differ from
those anticipated in such statements. All of the forward-looking statements
contained in this press release are qualified by these cautionary statements.
New Gold expressly disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, events or
otherwise, except in accordance with applicable securities laws. </p>
<b>
<p align="justify">CASH COST <br>
</b>&quot;Total cash cost&quot; figures for gold production are calculated in accordance
with a standard developed by The Gold Institute, which was a worldwide
association of suppliers of gold and gold products and included leading North
American gold producers. The Gold Institute ceased operations in 2002, but the
standard is the accepted standard of reporting cash costs of production in North
America. Adoption of the standard is voluntary and the cost measures presented
may not be comparable to other similarly titled measures of other companies.
Total cash costs include mine site operating costs such as mining, processing,
administration, royalties and production taxes, but are exclusive of
amortization, reclamation, capital and exploration costs. Total cash costs are
then divided by ounces produced to arrive at the total cash costs of production.
The measure, along with production, is considered to be a key indicator of a
company&#146;s ability to generate operating earnings and cash flow from its mining
operations. This data is furnished to provide additional information and is a
non-GAAP measure. It should not be considered in isolation as a substitute for
measures of performance prepared in accordance with GAAP and is not necessarily
indicative of operating costs presented under GAAP. </p>
<p align="justify">For further information please contact: </p>
<p align="justify">M&#233;lanie Hennessey <br>
Vice President Investor Relations <b><br>
New Gold Inc. <br>
</b>Direct: +1 (604) 639-0022 <br>
Toll-free: +1 (888) 315-9715 <br>
Email: info@newgold.com <br>
Website: www.newgold.com </p>
<p align="center">3 / 3 </p>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
