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<SEC-DOCUMENT>0001204459-08-001676.txt : 20080814
<SEC-HEADER>0001204459-08-001676.hdr.sgml : 20080814
<ACCEPTANCE-DATETIME>20080814085839
ACCESSION NUMBER:		0001204459-08-001676
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080814
FILED AS OF DATE:		20080814
DATE AS OF CHANGE:		20080814

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:		081015497

	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>ngf6k081408.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<html>

<head>

<title>New Gold Inc.: Form 6-K - 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 style="text-align: center; margin-top: 14pt; 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 August 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 style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%" border="0">
  <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 align="left" width="1%">
    <p style="margin-right: 15px"><font size="2">By: </font></td>
    <td style="border-bottom: 1px solid" width="50%"><font size="2">/s/ Basil
    Huxham</font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" width="1%">
    <p style="margin-right: 15px"><font size="2">Name:&nbsp;&nbsp; </font></td>
    <td style="border-top: 1px solid; border-bottom: medium none" width="50%">
    <font size="2">Basil Huxham</font></td>
  </tr>
  <tr>
    <td width="49%">&nbsp;</td>
    <td align="left" width="1%">
    <p style="margin-right: 15px"><font size="2">Title: </font></td>
    <td style="border-top: medium none" width="50%"><font size="2">Executive
    Vice President and Chief Financial Officer</font></td>
  </tr>
  <tr>
    <td width="50%" colSpan="2"><font size="2">Date: August 14, 2008</font></td>
    <td style="border-top: medium none" width="50%">&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 style="border-collapse: collapse" borderColor="#111111" cellSpacing="0" cellPadding="0" width="100%" border="0">
  <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 style="text-decoration: none" href="ngexh991.htm">99.1</a></font></td>
    <td width="86%" bgColor="#e9f1f8">
    <p style="color: #000000; text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt" align="left">
    <font FACE="Times New Roman" SIZE="2">
    <a href="ngexh991.htm" style="text-decoration: none">New Gold
    Announces Second Quarter Results &amp; Management Appointment</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>ngexh991.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="ngexh91.gif" width="350" height="105"></p>
<table CELLSPACING="0" BORDER="0" WIDTH="100%" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0">
  <tr>
    <td style="border-top-style: solid; border-top-width: 1" align="center">&nbsp;</td>
  </tr>
  <tr>
    <td align="center"><font FACE="Times New Roman" SIZE="2"><b>PRESS RELEASE</b></font></td>
  </tr>
  <tr>
    <td style="border-bottom-style: solid; border-bottom-width: 1" align="center">&nbsp;</td>
  </tr>
  <tr>
    <td style="border-top-style: solid; border-top-width: 1" align="center">&nbsp;</td>
  </tr>
  <tr>
    <td align="center"><font FACE="Times New Roman" SIZE="5"><b>New Gold
    Announces Second Quarter Results &amp; Management Appointment</b></font></td>
  </tr>
  <tr>
    <td style="border-bottom-style: solid; border-bottom-width: 1" align="center">&nbsp;</td>
  </tr>
</table>
<font FACE="Times New Roman" SIZE="2">
<p align="justify">(All figures are in US dollars unless otherwise stated) </p>
<p ALIGN="JUSTIFY">August 14, 2008 &#150; VANCOUVER, BC &#150; New Gold Inc. (&quot;<b>New Gold</b>&quot;)
(TSX and AMEX &#150; NGD) is pleased to announce excellent results from its Cerro San
Pedro operation and achievement of significant milestones at its New Afton
development project in the second quarter. In addition, New Gold announces the
appointment of Jim Currie as Vice President Operations who has recently joined
the management team. </p>
<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. Operating
cash flow was $10.1 million and $15.5 million for the three and six month
periods ending June 30, 2008 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>
<b>
<p align="justify">Second Quarter Results </p>
</b>
<p ALIGN="JUSTIFY">Due to the close of the recent merger between New Gold,
Metallica Resources Inc. and Peak Gold Ltd. (&quot;Peak Gold&quot;) on June 30, 2008,
consolidated interim financial statements of the newly formed company for the
three and six month periods ending June 30, 2008 are presented on the basis that
Peak Gold is the acquirer for accounting purposes. Consequently, the
consolidated income and cash flow statements include results of only Amapari and
Peak Mines for the period of January 1 to June 30<sup>th</sup>, 2008 and the
consolidated balance sheet at June 30, 2008 reflects the balances of the merged
entity. </p>
<p align="justify">Financial and operating highlights presented below include
results for the six month period ending June 30, 2008 from operations at Amapari
and Peak Mines. </p>
</font><font FACE="Symbol MT" LANG="JA" SIZE="2">
<ul>
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Consolidated cash and cash equivalents
  of $319.2 million as at June 30, 2008<sup>1</sup> </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Net earnings of $5.0 million after
  charges of $3.2 million in stock-based compensation </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Operating cash flow of $16.2 million
  </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Gold production of 85,352 ounces </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Copper production of 3.4 million pounds
  </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font SIZE="2" face="Times New Roman">Cash costs $570 per ounce (net of
  by-product sales) </li>
</ul>
</font><font face="Times New Roman" style="font-size: 8pt"><sup>
<p ALIGN="JUSTIFY">1</sup>The cash and cash equivalents are exclusive of $91.2
million (estimated fair value) in Asset Backed Commercial Paper (&quot;ABCP&quot;). As at
June 30, 2008, the non-bank ABCP market remained the subject of a restructuring
process with the expressed intention of replacing the ABCP with a number of
long-term floating rate notes. </p>
</font><hr color="#000000" size="5"><p Style='page-break-before:always'><font FACE="Times New Roman" SIZE="2">
<p align="justify">Financial and operating highlights presented below include
results for the period of April 1 to June 30, 2008 from operations at Amapari
and Peak Mines. </p>
</font><font FACE="Symbol MT" LANG="JA" SIZE="2">
<ul>
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Gold production of 42,052 ounces </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Copper production of 1.237 million
  pounds </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Cash costs $742 per ounce (net of
  by-product sales) </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Net loss of $4.8 million after charges
  of $0.6 million in stock-based compensation </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font SIZE="2" face="Times New Roman">Cash used in operations of $3.0 million
  </li>
</ul>
<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. Operating cash flow from
Amapari was $3.0 million and $4.3 for the three and six month periods ending
June 30, 2008 respectively. 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. 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">In relation to reserves at Amapari, five rigs continue to
drill around the perimeter and under existing pits. A consulting company has
been contracted to assemble a feasibility study on processing modifications
required to convert existing resources to reserves. This work is scheduled to be
completed late this year or early next. A previously contemplated modification,
the wash plant, has been determined to be inappropriate and studies have shifted
to alternate concepts. </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. Cash used in operations was $5.5
million for three months ended June 30, 2008 and generated operating cash flows
was $13.7 million for six months ending June 30, 2008. The operating cash flow
has been adversely impacted by the delay in receipt of funds, approximately $25
million, from copper concentrate sales. 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 a high grade stope due to difficult ground conditions and over
estimation of the grade in a second stope. Production will return to planned
levels from the third quarter as mining shifts from secondary to primary stopes.
</p>
<p align="justify">Metal production for 2008 is expected 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="justify">Commenting on the operating results, Mr. Gallagher, President
and Chief Executive Officer said &quot;The Amapari and Peak Mines operations faced a
number of challenges during the second quarter which adversely impacted results.
At Peak Mines, where lower than anticipated grades adversely affected production
and total cash cost, operations will return to planned levels from the third
quarter as mining shifts from secondary to primary stopes. At Amapari, where
fixed and mobile equipment availabilities have impacted processing grade and
throughput, an in-depth program is underway to review and upgrade the various
operational and planning systems. It is anticipated that significant
improvements will be incurred over the course of the remainder of the year.&quot; </p>
<p ALIGN="JUSTIFY">The Unaudited Interim Financial Statements and Management
Discussion and Analysis have been filed on SEDAR at <font color="#0000FF">
www.sedar.com</font> and EDGAR at <u><font color="#0000FF">www.sec.gov/edgar.shtml</font></u>
and are also available in the Financials section under the Investors tab on the
New Gold website at <u><font color="#0000FF">www.newgold.com</font></u>. </p>
</font>
<p align="center"><font size="2">2 / 4</font></p>
<hr color="#000000" size="5"><p Style='page-break-before:always'><font FACE="Times New Roman" SIZE="2"><b>
<p align="justify">Year to date Combined Operational Highlights </p>
</b>
<p align="justify">As previously stated in the Company&#146;s news release on July
24, 2008, for the six month period ending June 30, 2008, the operational results
for Cerro San Pedro, Amapari and Peak Mines are presented below. It should be
noted that because the business combination closed on June 30, 2008, the
consolidated interim statements of New Gold for the period ended June 30, 2008
do not include the results presented below for the Cerro San Pedro mine. </p>
</font><font FACE="Symbol MT" LANG="JA" SIZE="2">
<ul>
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Gold production of 124,295 ounces </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Gold sales of 130,351 ounces </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Cash costs $532 per ounce (net of
  by-product sales) </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Copper production of 3.4 million pounds
  </li>
  </font><font FACE="Symbol MT" LANG="JA" SIZE="2">
  <li>
  <p align="justify" style="margin-top: 0; margin-bottom: 0"></font>
  <font FACE="Times New Roman" SIZE="2">Silver production of 512 thousand ounces
  </li>
</ul>
<b>
<p align="justify">New Afton Update </p>
</b>
<p align="justify">The New Afton project gained momentum with the commencement
of the surface construction in the second quarter and the continued ramping up
of underground development. The underground development is continuing on five
development faces including the surface portal which began development in early
2008. The Company completed 1,267 metres in the second quarter up from 824
metres of underground development during the first quarter. The Project is now
averaging in excess of 110 metres per week of underground development advance.
</p>
<p align="justify">Surface activities have also ramped up significantly with the
development of access roads, the preparation of the construction office site and
the initiation of earth works in advance of the mill construction. First
concrete was poured three weeks ahead of schedule and the grinding mill
foundations are now in place. </p>
<p align="justify">During the second quarter the Company commissioned the pit
de-watering system for the original Afton pit and is now dewatering and storing
the water in the previously mined Pothook pit where it will be stored and later
used when milling commences. </p>
<p align="justify">The Company also continued its permitting processes for the
remaining key permits which are focused on water use and tailings impoundment.
Detailed engineering has attained the 47% level. </p>
<p align="justify">Mill start-up is scheduled for late 2009 with ramp up to the
full 4 million tonnes per year capacity occurring through 2010 and into early
2011. </p>
<b>
<p align="justify">Management Appointment </p>
</b>
<p ALIGN="JUSTIFY">Mr. James &quot;Jim&quot; Currie was recently appointed as Vice
President Operations for New Gold. Mr. Currie is a mining engineer with over 28
years of experience in the mining industry, having worked on projects in North
and South America, Asia and Africa. Mr. Currie was previously the Vice President
Operations for Miramar Mining Corp. in Vancouver and was responsible for the
development of Miramar&#146;s 10 million ounce gold resource at Hope Bay in the
Canadian Arctic. Mr. Currie has also worked as General Manager of Mauritanian
Copper Mines SA. Mr. Currie will work out of the Vancouver office. </p>
<p ALIGN="JUSTIFY">&quot;We are pleased to welcome Jim to our team. He brings a
wealth of experience in the engineering, construction and operation of mining
projects. Jim&#146;s initial focus will be on improving operations at Amapari&quot; said
Robert Gallagher, President and Chief Executive Officer. </p>
<b>
<p align="justify">Conference Call-in Details </p>
</b>
<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 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>
</font><b><font SIZE="2" face="Times New Roman"></font>
<font FACE="Arial" SIZE="1"></font></b><font SIZE="2" face="Times New Roman">
<p align="center">3 / 4 </p>
<hr color="#000000" size="5"><p Style='page-break-before:always'></font>
<p><b><font SIZE="2" face="Times New Roman">CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS </font></b></p>
<font FACE="Times New Roman" style="font-size: 8pt">
<p align="justify">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 </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>
</font><font FACE="Times New Roman" SIZE="2">
<p align="justify">For further information please contact: </p>
<p align="justify">M&#233;lanie Hennessey <br>
Vice President Investor Relations <br>
<b>New Gold Inc. <br>
</b>Direct: +1 (604) 639-0022 <br>
Toll-free: +1 (888) 315-9715 <br>
Email: <font color="#0000FF"><u>info@newgold.com</u></font> <br>
Website: <u><font color="#0000FF">www.newgold.com</font></u> </p>
<p align="center">4 / 4 </p>
<hr color="#000000" size="5"></font>

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